{"id":465,"date":"2012-09-27T08:00:00","date_gmt":"2012-09-27T12:00:00","guid":{"rendered":"http:\/\/www.l-a-k-e.org\/blog\/2012\/09\/k12-ceo-packard-5m-in-2011-up-36.html"},"modified":"2012-09-27T08:00:00","modified_gmt":"2012-09-27T12:00:00","slug":"k12-ceo-packard-5m-in-2011-up-36","status":"publish","type":"post","link":"http:\/\/www.l-a-k-e.org\/blog\/2012\/09\/k12-ceo-packard-5m-in-2011-up-36.html","title":{"rendered":"K12 CEO Packard: $5M in 2011, up 36%"},"content":{"rendered":"<p>\nDoes your school superintendent get paid $5 million a year?\nRonald J. Packard, CEO of K12 Inc., the second biggest\ndonor to the pro-charter school amendment campaign, does.\nIs that where you want your tax dollars to go?\n<\/p>\n<p>\nAccording to Bloomberg Businessweek,\n<a href=\"http:\/\/investing.businessweek.com\/research\/stocks\/people\/person.asp?personId=901591&amp;ticker=LRN\">\nExecutive Profile,\nRonald J. Packard CFA,\nFounder, Chief Executive Officer and Director, K12, Inc.<\/a>\n<a href=\"http:\/\/magnusleeamundsen.blogspot.com\/2010\/08\/new-school-year.html\">\n<img decoding=\"async\" style=\"float:right;border:none;\" class=\"at-xid-6a0120a58214e4970b017c321c12b7970b\" src=\"\/blog\/images\/6a0120a58214e4970b017c321c12b7970b-pi.jpg\"    \/><\/a>\nK12 CEO Packard made $551,539 in salary in 2011,\nbut was awarded other compensation totaling $5,002,933.\nWhich is even richer than the\n<a href=\"\/blog\/2012\/02\/who-profits-from-ccas-private-prisons.html\">\napproximately $3,266,387 total compensation\nprivate prison company CCA&#8217;s CEO Damon Hininger got in 2010<\/a>,\nwhich, according to Bloomberg Businessweek, apparently only went up to\n<a href=\"\/blog\/2012\/02\/who-profits-from-ccas-private-prisons.html\">\n3,696,798 in 2011<\/a>.\n<\/p>\n<p>\nAccording to\nEmma Brown for the Washington Post 9 December 2011,\n<a href=\"http:\/\/www.washingtonpost.com\/blogs\/virginia-schools-insider\/post\/k12-inc-chief-executive-ron-packard-paid-5-million-compensation-package-in-2011\/2011\/12\/09\/gIQASUiGiO_blog.html\">\nK12 Inc. chief executive Ron Packard paid $5 million compensation package in 2011<\/a>,\n<\/p>\n<blockquote>\n<p>\nThat&#8217;s nearly twice the $2.67 million Packard earned in 2010. It\nincludes $551,000 in cash, $4.2 million in stock awards and about\n$290,000 in other compensation.\n<\/p>\n<p>\nPackard&#8217;s pay reflects a new employment agreement negotiated in\nSeptember 2010 and good until 2014. The company had $522 million in\nrevenue in 2011, up nearly 36 percent percent from the year before.\n<\/p>\n<p>\n\u201cWe determined that these awards were necessary and\nappropriate to retain Mr. Packard as our Chief Executive Officer and\nin recognition of Mr. Packard&#8217;s leadership and performance over the\nterm of his employment with the Company,\u201d the filing said.\n<\/p>\n<\/blockquote>\n<p>\nDo we want our tax revenue going to retain K12 Inc.&#8217;s CEO?\nWhat if we retain our local schools instead?\nAfter all, it&#8217;s dubious that charter schools would be any better\n\n<!--more-->\nthan the\npublic\nschools we already have.\n<\/p>\n<blockquote>\n<p>\n<a href=\"http:\/\/vimeo.com\/10901737\">\n<img decoding=\"async\" style=\"float:right;border:none;\" class=\"at-xid-6a0120a58214e4970b017c321c12bb970b\" src=\"\/blog\/images\/6a0120a58214e4970b017c321c12bb970b-pi.jpg\"    \/><\/a>\nK12 Inc. is the country&#8217;s largest operator of full-time public\nvirtual schools, in which students learn at home via computer. The\nmodel is championed by some lawmakers, families and school-choice\nadvocates, but has also come under increasing fire by critics who\nsay it is an ineffective way to educate kids and a bad deal for\ntaxpayers footing the bill.\n<\/p>\n<\/blockquote>\n<p>\nAlso, pay inside K12 Inc. is being concentrated towards one man.\n<\/p>\n<blockquote>\n<p>\nThe company&#8217;s amended filing also lists compensation for other top\nexecutives. They did not receive base-salary increases, the filing\nsaid, \u201cdespite their excellent performance, in order to\nmaintain an efficient cost structure in an uncertain economic\nenvironment.\u201d\n<\/p>\n<p>\nChief financial officer Harry T. Hawks earned about $544,000 \u2014\nsignificantly less than his 2010 package, which was worth $1.8\nmillion.\n<\/p>\n<\/blockquote>\n<p>\nDo you want your tax dollars going to enrich one man?\nIf not, vote No on the charter school amendment in November.\n<\/p>\n<p>\n-jsq\n<\/p>\n","protected":false},"excerpt":{"rendered":"Does your school superintendent get paid $5 million a year? Ronald J. Packard, CEO of K12 Inc., the second biggest donor to the pro-charter school amendment campaign, does. Is that where you want your tax dollars to go? According to Bloomberg Businessweek, Executive Profile, Ronald J. Packard CFA, Founder, Chief Executive Officer and Director, K12, [&hellip;]","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[140,1113,40,15,49,8,2,72,20,1105,1106],"tags":[8744,1390,1231,1677,8817,1485,1675,8717,8705,8721,1230,1473,8701,8699,8730,1462,1448,1461,8702,8710,8815,12,7,1463,1678,383,1233,6,8816,1676,1387],"class_list":["post-465","post","type-post","status-publish","format-standard","hentry","category-alec","category-cca","category-community","category-education","category-elections","category-georgia","category-government","category-incarceration","category-law","category-lcboe","category-vboe","tag-alec","tag-alice-walton","tag-amy-carter","tag-bert-brantley","tag-cca","tag-charter-school","tag-charter-schools-usa","tag-community","tag-education","tag-elections","tag-ellis-black","tag-families-for-better-public-schools","tag-georgia","tag-government","tag-incarceration","tag-j-c-huizenga","tag-jay-shaw","tag-k12-inc","tag-lake","tag-law","tag-lcboe","tag-lowndes-area-knowledge-exchange","tag-lowndes-county","tag-national-heritage-academies","tag-ronald-j-packard","tag-taxes","tag-tim-golden","tag-valdosta","tag-vboe","tag-vote-smart","tag-wal-mart"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p585fK-7v","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/comments?post=465"}],"version-history":[{"count":0,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/465\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/media?parent=465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/categories?post=465"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/tags?post=465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}