from Wrench in the Gears
May 16, 2018
As the parent of a public school student and a citizen of Philadelphia, I arrived at Council Chambers today to convey my concern about Superintendent William Hite’s involvement with former Governor Tom Ridge’s merchant banking advisory firm Ridge-Lane, LP and to get it on the record. Full list of team members viewable as a PDF here.
I have serious reservations about how the city plans to finance the operation of our district, especially given the substantial needs of our students and the disinvestment our schools have suffered for so many years. This important work must be done with PUBLIC funding. Our schools are not charities and should not be remade as investment opportunities for venture capital.
I was the third speaker to present testimony on the proposed budget as it pertains to public education. City Council members in attendance at the time I spoke included: Council President Darrell Clarke, Maria Quinones-Sanchez, Jannie Blackwell, Bill Greenlee, Allan Domb, and Bobby Henon. We were limited to three minutes, so the testimony I prepared had to be condensed somewhat. The full piece, including important information about the Fels Policy Research Initiative, can be read below.
“Ridge-Lane, Limited Partners is a merchant bank founded by former Pennsylvania Governor Tom Ridge and R. Brad Lane, which “specializes in corporate strategy and venture development for private growth-stage technology companies.” Its website claims it is at the “apex of public and private sectors,” with over fifty well-connected advisors to broker corporate-government deals in information technology, sustainability, real estate, and education.
According to their website, Superintendent William Hite is one of Ridge-Lane’s senior education advisors. If Dr. Hite is setting public education policy while serving as an advisor to a powerful merchant bank, it is a serious conflict of interest and must be immediately addressed. It certainly makes interventions like the one taking place, against the will of the community, at Strawberry Mansion High School suspect.