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By Ian Johnson and Ian Johnson,New York Bureau | April 24, 1993
NEW YORK -- Only a year after raising $2 million from the stock market, Education Alternatives Inc. is going back to the well next week, hoping this time to raise $28 million for its plan to overhaul U.S. schools through private enterprise.The Minnesota-based company, which manages nine Baltimore schools under a five-year contract nominally worth $133 million, said the additional money would be used as working capital and to develop future services.The company plans to sell 1.26 million shares at $22.25, below the recent trading price of $25. Yesterday, Education Alternatives' stock closed at $25.125, up 12.5 cents.
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NEWS
By Hanah Cho and Hanah Cho,SUN STAFF | April 20, 2005
Realizing that her shy daughter needed more individualized attention and a smaller learning environment, Tristan Rynn pulled Fauston out of first grade at then-Dasher Green Elementary School in Columbia in December 2003 and has been home-schooling her ever since. However, Rynn, a native of Columbia who graduated from its schools, is a firm believer in public schools. "There's no alternative unless you put your kid in private school," she said. So Rynn and other parents like her are proposing another solution: a charter school in Columbia that would incorporate a child's specific learning style into the curriculum.
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NEWS
November 24, 1995
MAYOR KURT L. SCHMOKE, an early supporter of Education Alternatives Inc., hadn't counted on this. One reason he felt comfortable giving teachers a big pay raise this year was belief EAI would agree to a reduction in its $44 million fee. He negotiated for weeks thinking an agreement would occur. When it became apparent that it wouldn't, he found himself painted into a corner he helped create. The teachers had their raise. Settling a special education lawsuit was costly. The legislature was withholding millions.
NEWS
By Hanah Cho and Hanah Cho,SUN STAFF | April 20, 2005
Realizing that her shy daughter needed more individual attention and a smaller learning environment, Tristan Rynn pulled Fauston out of first grade at then-Dasher Green Elementary School in Columbia in December 2003 and has been home-schooling her ever since. However, Rynn, a native of Columbia who graduated from its schools, is a firm believer in public schools. "There's no alternative unless you put your kid in private school," she said. So Rynn and other parents are proposing another solution: a charter school in Columbia that would incorporate a child's specific learning style into the curriculum.
BUSINESS
By Bloomberg Business News | August 31, 1994
MINNEAPOLIS -- Education Alternatives Inc. shares gained 12 percent yesterday on reports it is close to signing a five-year contract with the Hartford, Conn., school system.Shares of the Minneapolis-based company closed up $2, at $18.75. About 465,100 shares changed hands, more than four times its three-month daily average.Education Alternatives and Hartford school officials said they have made progress in their negotiations and hope to agree on a contract early next week.Neither side would comment on reports in the Hartford Courant and Minneapolis Star Tribune that Education Alternatives will get control of the entire $200 million school budget, including $29 million in federal grants.
BUSINESS
By Bloomberg Business News | January 15, 1994
MINNEAPOLIS -- Education Alternatives Inc. agreed to provide management and educational services to the Pinckney, Mich., school district, President David Bennett said yesterday.EAI is proposing that the job run five years, the executive said.Under terms, it would provide accounting, custodial and maintenance services to the school district, which has an annual budget of $18 million and 3,800 students in five schools.EAI operates nine Baltimore City schools under its Tesseract program, and EAI has reached five-year agreements to take over financial management, cafeterias, security and maintenance at two additional Baltimore schools.
BUSINESS
By Ian Johnson and Ian Johnson,New York Bureau | October 1, 1992
NEW YORK -- Financial burdens from a pilot school in Arizona caused the head of Education Alternatives Inc., which manages nine Baltimore public schools, to sell 100,000 shares of his company's stock.Chairman John T. Golle said yesterday that he sold the stock because he is holding $1.9 million in debt on the Tesseract School in Paradise Valley, Ariz., and needs to improve his personal liquidity.The privately run elementary school opened three years and has not shown a profit, though Mr. Golle said its cash flow was now neutral.
NEWS
By Ian Johnson and Ian Johnson,New York Bureau | November 15, 1992
NEW YORK -- When Dick Perkins envisions the company of the future, he sees Education Alternatives Inc.It's small, lean and could make tons of money managing public schools -- it already has a $133 million, five-year contract inBaltimore -- says the head of the Minneapolis investment firm Perkins Capital Management Inc. The firm owns 15.4 percent of Education Alternatives' stock.But that breathless description may be a tad optimistic for a 6-year-old company that has yet to turn a profit.Education Alternatives has burned up millions of dollars while hopscotching among corporate goals -- first planning a nationwide network of private schools, then shifting to public school management.
NEWS
By New York Times News Service | June 7, 1994
Education Alternatives, the Minneapolis company that manages public schools for profit, says it has overstated the academic progress of students attending the schools it manages in Baltimore.In an admission that is sure to fuel the debate over the privatization of public schools, Education Alternatives said yesterday its error in reporting the Baltimore test scores had been "completely unintentional." It corrected the error yesterday; the mistake was reported last weekend by the Minneapolis Star Tribune.
NEWS
By Mark Bomster and Mark Bomster,Staff Writer | July 17, 1992
Baltimore's school superintendent announced last night that the system has hammered out a tentative contract with a private company expected to take over nine city public schools this September.The contract, with Education Alternatives Inc. of Minneapolis, now goes to Mayor Kurt L. Schmoke for further review and possible revision. It still would have to be approved by the city's Board of Estimates.School and company officials refused to give details of the tentative agreement at last night's school board meeting, where school Superintendent Walter G. Amprey gave an update on the contract.
NEWS
By Suzanne White and Suzanne White,SPECIAL TO THE SUN | May 16, 2004
Small class sizes, extra attention, cultural enrichment and the possibility of a specialized curriculum are among the reason some Anne Arundel County parents opt for one of the many private schools in the area. Among the most prominent: Aleph-Bet Jewish Day School, 1125 Spa Road, Annapolis. Kindergarten to grade five. Enrollment: 61 students. Contact: 410-263-9044; www.aleph bet.org. This coeducational elementary school offers a program of general studies balanced with a grounding in Jewish history, language, tradition and values.
NEWS
January 1, 1996
WHAT DOES 1996 hold in store for this state and the subdivisions of this region? Our editorial writers examined the outlook for Maryland and the six local jurisdictions and came up with the following predictions.Events in Washington will have a major impact on decisions in the state capital, the county seats and at City Hall. This state, more than most, is heavily dependent on nearby Washington for jobs in both the private sector and the public sector. The uncertainty of budget and federal monetary policy make 1996 hard to decipher.
NEWS
By Jean Thompson and Mike Bowler and Jean Thompson and Mike Bowler,SUN STAFF | December 18, 1995
Baltimore's scores on the spring Maryland School Performance Assessment Test were released last week, revealing notable improvement and persistent weaknesses throughout the school system.The city's scores remain the lowest among the state's 24 school systems, but this year scores increased at most schools, as the accompanying chart shows. In general, math and language usage scores improved; reading and writing scores suggest need for greater work.The citywide scores also provided a mixed progress report for Baltimore's closely watched school-improvement projects, including the recently canceled partnership with Education Alternatives Inc. Though still ranking below the state standard for satisfactory performance, most mirrored the upward trend -- a promising sign.
NEWS
November 24, 1995
MAYOR KURT L. SCHMOKE, an early supporter of Education Alternatives Inc., hadn't counted on this. One reason he felt comfortable giving teachers a big pay raise this year was belief EAI would agree to a reduction in its $44 million fee. He negotiated for weeks thinking an agreement would occur. When it became apparent that it wouldn't, he found himself painted into a corner he helped create. The teachers had their raise. Settling a special education lawsuit was costly. The legislature was withholding millions.
NEWS
By James Bock and James Bock,SUN STAFF | November 1, 1995
The No. 2 executive of Education Alternatives Inc. has resigned, just as the Minnesota company that manages nine Baltimore public schools is struggling to sort out its future.William F. Goins, EAI's $300,000-a-year chief operating officer, tendered his "voluntary resignation" effective Nov. 30, the company announced yesterday."Bill did a lot of good things for the company," said Chris Bauer, an EAI spokeswoman. "We learned a lot from him, and we wish him the best as he moves on."Mr. Goins told Bloomberg News Service that he had differences over leadership style and vision with John T. Golle, the company's founder, chairman and chief executive officer.
BUSINESS
July 25, 1995
President of EAI resignsEducation Alternatives Inc., the Minneapolis-based company that operates about 44 public schools in Baltimore and Hartford, Conn., said that its president, David Bennett, resigned.The company didn't give a reason for the resignation, but a person familiar with the situation said Mr. Bennett resigned to form his own company to compete with Education Alternatives.Neither Mr. Bennett nor other company officials could immediately be reached for comment.The company also operates two private schools in Arizona and Minnesota.
NEWS
By Mark Bomster and Mark Bomster,Staff Writer | June 17, 1993
Baltimore's bold venture in letting a private firm run nine schools ended its first year with the superintendent in favor of expanding the program, the mayor lukewarm to the idea and parents and staff divided over whether it had been a success.The high-stakes initiative, which put the city in the vanguard of private-public partnerships in education, did well enough that Superintendent Walter G. Amprey said he favors expansion, perhaps as early as next fall."It's hard to find anybody who hasn't seen it as successful," Dr. Amprey said at a news conference held yesterday to describe the job done by Education Alternatives, Inc. "I think it's been successful enough for it to expand."
NEWS
By New York Times News Service | July 22, 1994
HARTFORD, Conn. -- The Board of Education is preparing to hire a profit-making company to manage Hartford's 32 schools, although fierce opposition from teachers and questions about the financial arrangements have caused city officials to reject the company's bid to take nearly full control of the system.The school board's vote, perhaps as soon as today, would make Hartford the nation's first city to hire a private manager for its entire school system. But instead of having wide latitude to squeeze millions in savings from the budget to pay for improvements to the city's troubled schools, the company, Education Alternatives Inc., will be given control over only a small part of the system's $171-million budget and will be asked to reorganize the schools from within, working with the bureaucracy that is acknowledging its own failure by hiring the company.
NEWS
By Jean Thompson and JoAnna Daemmrich and Jean Thompson and JoAnna Daemmrich,Sun Staff Writers Sun staff writer Gary Gately contributed to this article | March 17, 1995
Stung by escalating attacks on Baltimore's school system and its leadership, Mayor Kurt L. Schmoke intervened dramatically yesterday, demanding a revision of the Education Alternatives Inc. contract and an overhaul of the district's special-education programs.Mayor Schmoke ordered the changes to shore up a school system increasingly beset by criticism here and in Annapolis. He announced yesterday that he will:* Renegotiate the controversial five-year contract with the for-profit Education Alternatives Inc., requiring measurable improvements in student attendance and achievement at the city's nine "Tesseract" schools.
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