K12, a for-profit charter school company based in Virginia, operates the Ohio Virtual Academy (OVA) in Ohio. OVA is a virtual, online charter school that enrolled 3,408 students in the 2006-2007 school year.

Last week K12 held an initial public offering of its stock.

Does this sounds totally crazy to anyone else???

The education of our state’s children in the hands of a for-profit corporation- obligated NOT to the best interests of OUR CHILDREN but the best interests of THEIR STOCKHOLDERS!

This means the company’s primary goal is to make money- not to educate our kids. And they do this by spending less money on students and by paying their teachers…

According to the state stats, OVA spends about 33% less per student that the state average.

According to the the CEA Blog, the company made about $108 million from the IPO but continues to pay its 91 non-unionized Ohio teachers an average of $32,341 (Columbus teachers START at $36,775!).