The Los Angeles Unified School District, the nation’s largest outside New York City, owes so much for retiree health care that paying off its debt would cost $17,500 for each student -- and there are 640,000 of them.
To show how badly public pensions have been short-changed, Securities and Exchange Commissioner Daniel Gallagher mentioned a place where every household owes $88,000 for promises the government made to retirees.
A group of California public school students, backed by a Silicon Valley entrepreneur and a lawyer who defended companies such as Wal-Mart Stores Inc. and Apple Inc., are asking a judge to void state laws that they say let incompetent teachers keep their jobs.
The Los Angeles Unified School District, which is facing a bigger deficit than the city of Los Angeles, led issuers selling $445 million of Qualified School Construction Bonds this week, the most since the program began last year.
As many as one in five U.S. charter schools should be shut down because of poor academic performance, according to a group representing states, districts and universities that grant them permission to operate.