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Furious teachers at a recently shuttered Detroit charter school were notified Wednesday that they won't be paid thousands of dollars they earned during the last school year.
"Last Friday, Matchbook Learning became aware that the holders of MTA's outstanding bond debt are refusing to allow use of funds for any summer payroll and instead, are requiring that any available funds be used toward payment of the bond debt," Matchbook's CEO Sajan George told teachers in the email. "We are disappointed and deeply saddened by this development because this means funds will not be there for July or August payroll."
Source Chalkbeat
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Charter School Bond Holders Refuse to Allow Use of Funds for Payroll
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* m2 stares at the monitor... it looks like a hamburger...
m2 - that's a bad sign
(Score: 2) by mechanicjay on Friday July 28 2017, @06:46PM (4 children)
If they get paid monthly in arrears (pretty standard), wow they just got boned for a month's work. That really sucks. Any of them who show up for work on August 1st without having yet received pay for the previous month are fools of the highest order.
My VMS box beat up your Windows box.
(Score: 1, Troll) by choose another one on Friday July 28 2017, @07:50PM (3 children)
> Any of them who show up for work on August 1st without having yet received pay for the previous month are fools of the highest order.
Um, they are teachers, I am pretty sure that August 1st they'll be on holiday anyway.
That is really the story - a bunch of employees are cross because they lost their holiday pay when their employer went bust, well, no shit sherlock, that's what happens when employers go bust, whether you are a teacher or not (been there, done that, got the t-shirt, and no I'm not a teacher).
(Score: 2) by NewNic on Friday July 28 2017, @10:25PM (1 child)
Losing a couple of weeks of holiday pay isn't the same as losing a couple of months of holiday pay.
lib·er·tar·i·an·ism ˌlibərˈterēənizəm/ noun: Magical thinking that useful idiots mistake for serious political theory
(Score: 2) by choose another one on Sunday July 30 2017, @09:49AM
Nope. Not at all the same.
In fact, losing the pay for the month you just worked (up to the 29th, employer couldn't make payroll on 30th), _plus_ paid holiday accrued but not yet taken, _plus_ hundreds in business travel expenses claimed but not paid, _plus_ not getting your legally required redundancy pay (1 week per year of service, 8 years of service), _plus_ not getting your contractual paid notice period... adds up to a lot more than a couple of months holiday pay.
Like I said, been there, done that. In the end when all was "settled" (takes years) we got less than a penny in the pound on the debt, and my losses were well into five figures. Oh, and the "secured" creditors got all their money back. Nothing special about being a teacher when your employer goes bust.
(Score: 0) by Anonymous Coward on Saturday July 29 2017, @12:43AM
Probably not. That money that they were supposed to be paid during the summer was most likely money that they would have been paid during the school year. My mother has a similar arrangement with the college she works at. They give her an option about the number of pay checks she receives. It's the same amount of money either way, but it allows a bit more leeway in personal finances because of the length of the breaks.
Ultimately, one of the huge problems with being a teacher is that you're not paid very well, to begin with, but you also have these long breaks where you're not making any money and have to be really careful about your budgeting. In this case, it's going to wind up in a large lawsuit as that's money that they earned and weren't paid.