Commentary
White Hat Management's founder says he's through bailing out the charter-management company
White Hat Management, a major for-profit charter school operator, is fighting for its life. At least that?s the story told in a recent memo by founder David Brennan. Brennan told employees of White Hat that his family has committed over $50 million to sustaining White Hat, but that they simply cannot afford to do so anymore. Their financial commitment will only see the company through 2013. Brennan?s memo also pointed out that White Hat has not made a forecast for the bank in the last 5 years, and in order to start to turn things around they must produce in excess of $2 million every year.