Here's $5 Million
Mayor Rahm Emanuel on Monday will establish a $5 million fund to provide merit pay to Chicago Public School principals.
Emanuel said he has “put together” a $5 million fund to reward the best-performing principals, with details to follow at an afternoon news conference.
But the mayor campaigned on a promise to deliver merit pay for principals and he’s about to check it off his list of accomplishments during his first 100 days in office.
- The $5 million over five years is coming from four wealthy Chicago families. Venture capitalist Bruce Rauner and his wife, Diana, are contributing $2 million. Three other families are each giving $1 million: Groupon co-founder and executive chairman Eric Lefkofsky and his wife, Liz; Penny Pritzker and her husband, Chicago Park Board president Bryan Traubert and Paul and Mary Finnegan.
Bonuses for government work is a bad idea, no matter where the money comes from.
Labels: dumb ideas