School Starts August 20.
The Carthage R-9 School
district has set Thursday, August 20 as
the official first day of school. All
elementary schools and the high school
will host an open house in the evening on
August 18. Carthage Middle School open
house will be on August 17. The Carthage
Technical Center open house will be on
October 29. Families will have the
opportunity at this time to visit the
rooms and meet the teachers. Food Service
cashiers will be available at all schools
at this time to answer questions and take
deposits for breakfast/lunch accounts.
To promote support from
area residents give the school by
attending various school activities, the
district offers complimentary Gold Passes
to persons age 60 or over who are
residents of the R-9 School District. The
pass is effective for life and authorizes
free admittance to all home athletic
events and other district-hosted
activities, with the exception of
district and state tournaments.
To obtain a Gold Pass,
contact the District Administrative
Office at 710 Lyon Street (359-7000).
Proof of age should be available upon
request.
Bill
Gates Offers Stimulus Advice.
by Christopher
Flavelle, ProPublica www.propublica.com
Todays
roundup of stimulus coverage:
Bill Gates waded into
the stimulus debate Tuesday, calling for
states to be more ambitious in the way
they spend stimulus money earmarked for
public education. Speaking to the
National Conference of State Legislatures
in Philadelphia, Gates urged states to
increase online learning, better assess
both pupils and teachers, and create more
schools modeled on charter schools, The
Philadelphia Inquirer reports. "Our
schools need to get better, or our
economic positioning relative to others
will get worse," said Gates.
In Watsonville, Calif.,
the Pajaro Valley Unified School District
demonstrates how hard it may be for
states to answer Gates call to
revolutionize education. The school
districts trustees met to discuss
how to spend $1.6 million in stimulus
money, The Mercury News reports. In the
meantime, the trustees need to decide how
to cut $7.5 million from the
districts budget for the coming
year, on top of a $14 million cut in
March.
The Missoulians
Steve Miller reports on stimulus gripes
in Missoula, Mont., where a $600,000
construction project to build a
roundabout has left local businesses
complaining about lost revenue. The
businesses say the construction project
has made it harder for customers to reach
their stores. "Were losing
better than $1,000 a day on
business," said the owner of Grizzly
Grocery, while the owner of
Cynthias Fine Flowers said
shes getting "hammered"
with the loss of parking for her
customers.
ProPublica Reporting
Network member Rhi Bowman caught this
story in the The Charlotte Observer,
which reports that Mecklenburg County,
the states largest, has received
$246 per person in federal stimulus
dollars, compared to $328 per person
statewide. Charlottes mayor, Pat
McCrory, criticized the way stimulus
money is being spent, telling the
Observer that the money should have been
spent on "Eisenhower- and
Roosevelt-type projects for the next
generation."
The White House
defended the stimulus bill Tuesday night,
the Detroit Free Press reports. Jared
Bernstein, economic adviser to Vice
President Joe Biden, told reporters that
"an economy in free fall seems to be
behind us," while Press Secretary
Robert Gibbs said the stimulus was only
meant to "cushion the blow" of
the recession. The Free Press notes that
the administration is sticking to its
prediction that the stimulus will save or
create 3 million jobs.
Should
AIG Be Keeping Terms of Deals Secret?
by Sharona Coutts,
ProPublica www.propublica.com
Last week we reported
that while AIG has sold or agreed
to sell a dozen subsidiaries as
part of its efforts to repay the $85
billion it still owes taxpayers, the
company is keeping the financial terms of
nearly half those sales secret.
On Friday afternoon,
AIG announced that it had completed the
sale of two subsidiaries in Mexico.
Though the sale is now final, in a press
release the company repeated its mantra:
"Terms of the transaction were not
disclosed."
Treasury officials told
us last week that they are "actively
monitoring" AIGs sales, but
they would keep AIGs confidence
about how much the company was getting
for the pieces of its former empire, at
least "until binding sales are
announced." Treasury officials did
not return our e-mail or a call asking
whether they would release that
information now that the sales are final.
Why does this matter?
As financial risk analyst Sylvain Raynes
told us last week, the secrecy raises
questions as to whether AIG is getting a
good deal for the taxpayer, which owns
nearly 80 percent of the company and is
owed $85 billion in loans.
"Theres nothing wrong with
private transactions between consenting
adults," said Raynes, founder of
R&R Consulting, a firm that analyzes
market risk. "But when the
government is involved, everything
changes."
But Paul Hickey, of
Bespoke Investment Group, says companies
frequently decide not to disclose
financial terms. "Companies
sometimes withhold that information
whether its a small deal or they
just choose not to," he said.
Requiring that AIG
comply with higher standards of
transparency than other companies could
also damage the firms chances of
getting the best prices, Hickey said.
"If Im an
investment firm and I do show interest in
an asset, do I necessarily want the
public knowing what I paid for it?
Especially with AIG, given that anyone
who makes a profit, Congress gets all up
in arms about it. It could open them up
to too much criticism," he said.
"But you can also see how people
would say, oh theyre not
publicizing the terms of the deal because
theyre not getting enough money
from them."
AIG delivered the news
through its new "senior vice
president-divestiture," Alain
Karaoglan. As we pointed out a couple
weeks back, Karaoglan was once one of
AIGs most ardent critics. As a
Deutsche Bank analyst in 2005, he
co-authored a scathing 31-page report
that pointed out large disparities in how
AIG reported earnings, dissected the way
AIG valued its companies, and argued that
the whole business was overvalued.
Karaoglan again
declined to speak with us about that
report, or about the Mexico sales he just
announced.
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