Obama Meets With Corporate CEOs To Fundraise For U.S. Education

President Barack Obama hosts an education roundtable today with some of his top education staff and several of the nation's most prominent CEOs to encourage private investments in the country's educational programs.

Obama looks to leave the meeting this afternoon with at least $118 million in pledges. Among the meeting's attendees are the CEOs of Time Warner Cable, Intel, State Farm, Accenture and AT&T.

GlaxoSmithKline just announced a $10 million contribution over five years, in part to reduce drop-out rates in poor performing schools.

Bank of America will announce a $50 million donation over three years for programs that "bridge the achievement gap to post-secondary education completion and connect the underserved and unemployed," according to a statement released by the Department of Education Monday.

Microsoft Education will pledge $15 million for learning technology, including digital archives and game-based teaching.

The Nike School Innovation Fund is looking to pledge an additional $3 million on top of the $7 million it has already donated for Oregon's secondary school reforms. America's Promise Alliance Grad Nation Community Impact Fund aims to raise $50 million to improve graduation rates and prepare students for college and career paths.

"A world-class education is the single most important factor in determining not just whether our kids can compete for the best jobs but whether America can outcompete countries around the world," Obama said in the statement. "America's business leaders understand that when it comes to education, we need to up our game. That's why were working together to put an outstanding education within reach for every child."

Corporate America has had a moderate hand in the nation's education initiatives in recent years. Obama's multi-phased $4.35 billion Race To The Top initiative that rewards states for various educational improvements, ranging from linking teacher assessment and student performance to increasing standards for teacher training. The latest guidelines for the third phase of the program pertaining to early education were released at the beginning of the month.

The Wall Street Journal reports that corporate donors funneled over $514 million into education funds in 2009.

Comments

[mlaiuppa]

05:07 PM on 07/20/2011

This money will have strings on it. They'll want to have control and dictate terms if they give money.

CEOs of businesses don't know squat about education, public schools or teaching. You cannot use a business model designed to produce widgets cheaply using standardized parts to teach children. Children are not widgets and they don't have standardized parts.

Bad idea.

But I would expect no less from the man who made Arne Duncan the Secretary of Education.

[broui]

01:11 AM on 07/20/2011

On the whole, I believe President Obama has done a good job handling the people's business especially in light of the historical obstruction he's dealt with from the other party. But as far as his approach to education goes, I'm flummoxed.

Corporations and Public Education do not mix. Period. We have VERY different bottom lines.

[CElectioneering]

05:42 PM on 07/19/2011

This is called CORPORATE ELECTIONEERING!!!

A full ensemble of domains built around corporateelectioneering.com is now available for sale!

To place a bid & for further inquiry, contact [e-mail] (please adjust your bid to US Dollars).

[bealebkk]

11:47 AM on 07/19/2011

If you believe this, then I have some land for sale just outside Beirut.
Donations for re election, smoke and mirrors...

[Mtball228]

10:08 AM on 07/19/2011

As we all know, the CEO's of most Corps, are greedy and sometimes, I said sometimes, dishonest. These Obama backers in Education are going to pass all of their " donations" to education, on to the consumer. We are going to pay for this program one way or the other. What we really need are #1 . compentency in our educators. #2. Less monies spent on other countries programs, and #3. Parental involment in their kids educations. Find out what their teachers are teaching and the quality of the education being presented. Teachers are generally underpaid and have out of pocket expenses just to satisfy the class curriculums. If anyone would like to respond to this, please explain to me how the State Lotteries, have contributed to the schools, and why it's like pulling teeth to get an explanation about how much they give to the education process.

[wheeljc]

08:40 AM on 07/19/2011

Hmmmm! Sounds like prisoners giving away family fortunes to the warden to build new gas chambers!

[PensionerGiles]

11:41 PM on 07/18/2011

Take the corporate shills off the boards of trustees at colleges & universities & fund the institutions with an accelerated taxation. Maybe we'll end up with fewer graduates specializing in "pot of gold" studies. Though it is amusing to have college presidents hauling in $600K a year lecture on our national responsibility to fund education.

[Dangerous Dan]

09:37 PM on 07/18/2011

How much does it cost for a book, a pencil, and paper? If a teacher can not communicate with their students, then they will not learn. If a student does not want to learn, show them what they can look forward to. Summer school should be internships in school househeeping, kitchen help and maintenance. Age appropriate, of course.

[cachew]

02:31 AM on 07/19/2011

That requires hiring teachers and aids. Summer school, P.E., science, social studies, music, drama, art, class size reduction, ROP (occupational training), and most after school programs have been eliminated. Only English and math remain because they're tested. Textbooks? Schools are mandated (through testing) to use certain books or lose federal funding. They are incredibly expensive! Most teachers provide pencil and paper from their own pocket, and when that runs out....This is a PR moment for these companies and most of this money will go to Charter Schools, and corporate tax write offs :( Visit a public school before you judge!

[nohopepope2187]

09:08 PM on 07/18/2011

The last place Obama should be is near our Nation' future - our children.

[Dangerous Dan]

08:48 PM on 07/18/2011

When asked to show 1 and a quarter inches on a ruler, the applicant said,"What does money have to do with measuring?"

[Dangerous Dan]

08:39 PM on 07/18/2011

The Community Organizer goes back to his roots, Shaking down big business. We can give you loop holes or tighter regulations. How much was that check?

[ThePeacemakers]

07:37 PM on 07/18/2011

Here are the textbooks they would fund:

"Tax Cuts 101"

"Home Economics: Surving on $2 a Day"

[kentmt]

04:58 PM on 07/18/2011

Yes, invest in education. If you don't, I will consider you an enemy. Remember, I punish my enemies!

[Rosalee Harris]

04:57 PM on 07/18/2011

We need them to donate to our schools. If we leave it to re thugs our educational system will go back 100 years instead of science and technology we'll be teaching creationism and religion. We got to keep our schools competitive and in the 21st century instead of the 19th

[Dangerous Dan]

08:45 PM on 07/18/2011

Close the Federal Department of Education, disburse the money back to the states. Each one has their own Department of Education. Don't you trust government?

[GandenT]

04:49 PM on 07/18/2011

Begging robbers for "philanthropy" under whatever conditions they'd like to impose; the new American social contract in action thanks to 40 years of conservative revolution and its unique take on "fiscal responsibility."