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Thursday, May 24, 2012

Public School Textbook Publisher Goes Bankrupt by Gary North

One of the largest textbook publishers has declared bankruptcy. It sticks lenders with over $3 billion of bad debt. It wipes out shareholders.

The Left long ago bet the farm on its control over the public schools. Now the schools are slowly losing money. They are cutting back on everything except football.

Houghton Mifflin could not survive the change. It is the first major textbook publishing to go belly-up. Others will follow.

If you have a kid in college, you wonder why all college courses are not digital. Every textbook is out of date as soon as it is published.

Posted via email from iPT Perpetual Traveler

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