POLITICS/EDUCATION: Los Angeles Unified School District, continuing controversy, iPad program: "SEC launches informal inquiry into LAUSD's use of bonds for IPads" ....
* Los Angeles Times: "SEC launches informal inquiry into LAUSD's use of bonds for iPads" - From the LAT:
The federal Securities and Exchange Commission recently opened an informal inquiry into whether Los Angeles school officials complied with legal guidelines in the use of bond funds for the now-abandoned $1.3-billion iPads-for-all project. In particular, the agency was concerned with whether the L.A. Unified School District properly disclosed to investors and others how the bonds would be used, according to documents provided to The Times. District officials said they were optimistic that they had addressed the SEC concerns.
The news of the SEC inquiry came the same week that L.A. Unified officials demanded a refund from computer giant Apple over curriculum supplied on the devices by Pearson, which sells education services and materials worldwide. Pearson was a subcontractor to Apple under a contract approved by the Board of Education in June 2013.
School board member Bennett Kayser said Thursday that legal questions regarding use of the bonds were not sufficiently examined before the project moved forward. "I wish the SEC had looked into this over a year ago," Kayser said.
(Kayser did not participate in the original discussion or vote on the contract because he owned a small amount of Apple stock. He sold his holdings and emerged as a project critic, although he later voted to purchase additional devices for schools and for testing.)
The district's demand for a refund came in the form of a letter sent Monday to Apple .....................