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AROUND THE WEB

Mother Jones
March 4, 2001

Privatization of Education Will Benefit Big Bush Donors

...Just as brokers stand to benefit from privatizing Social Security, some of Bush's largest donors would profit from turning education over to the marketplace.

Two of the largest backers of Edison Schools, the nation's largest private manager of public schools, contributed heavily to the Republicans. John Childs (No. 17), a Boston financier, gave $670,000, and Donald Fisher (No. 184), chairman of the Gap, gave $260,800, all but $62,800 to the GOP. Investors in Advantage Schools, one of Edison's chief competitors, also backed the GOP. John Hennessy (No. 362), whose Credit Suisse First Boston has pumped $19 million into Advantage, took a lead fundraising role for Bush and contributed $164,000 of his own money to the Republicans. John Doerr (No. 55, $477,500) and Kevin Compton of the Silicon Valley venture firm Kleiner, Perkins, Caufield & Byers, which has invested in Advantage, also ventured into politics. Compton gave $143,000 to Republicans, while Doerr supported Gore, who promoted a charter school plan of his own...

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