In case you missed it this week, despite reminders from the SEC, T-Mobile releases non-GAAP data; the CEO of a German stock exchange operator resigns; and Newegg faces charges of coconspiracy.
No records, no rules, no problem | It hasn’t been a stellar week for education administrators. The Orlando Sentinel published a 3-part expose on a string of Floridian private schools that pocketed roughly $1b per year through state-backed scholarship funds (vouchers). The schools, with little to no oversight or regulations, went so far as to falsify health and safety records, and hire staff with no degrees. Across the country in Albuquerque, New Mexico, the former head of four charter schools plead guilty for defrauding the institutions over the course of 15 years. David Scott Glasrud ran a series of schemes that included creating fake companies that he funneled cash through—in one instance he leased a building, and then subleased it to one of the schools at twice what he was paying. Almost all the money went toward paying his substantial gambling debt. Bold move.
