For more than a decade, Graham Holdings Co., the former Washington Post Co., relied on American students at its Kaplan colleges to fuel growth. With for-profit education under siege in the U.S., the future of the rapidly transforming company may lie abroad.
Former Chilean President Michelle Bachelet and ruling alliance candidate Evelyn Matthei will face each other in a presidential runoff next month, pitting an advocate of higher taxes to fund education against a supporter of continuity.
Chilean stocks fell and the peso strengthened after Michelle Bachelet won a second term as president of the South American country on a platform to raise corporate taxes to fund education and health reforms.
Former President Michelle Bachelet has based her campaign to recapture Chile’s top office on a program of free education for all and higher corporate taxes. Her main opponent calls that model a throwback to the era of the Berlin Wall.
Michelle Bachelet, who seeks to recapture the Chilean presidency on Dec. 15, has promised free education for all while improving state finances. Declining copper revenue and a slowing economy will make it hard to do both.
Michelle Bachelet first met Hillary Clinton at a photo opportunity, when the Chilean was on the cusp of becoming her country’s first female presidential candidate. The two women wound up talking for almost an hour, on women, politics and health policy.
Chile’s first ever primary elections this weekend will probably confirm former leader Michelle Bachelet as the favorite before presidential elections in November, raising the prospect of higher corporate taxes.