For textbooks, on-line sources, larger education services and skilled improvement and learning. The state of Virginia recertified Pearson as an permitted college turnaround” consultant in 2013 regardless that the company had, at greatest, mixed outcomes with that line of work: Simply one of many 5 Virginia faculties that Pearson cited as references improved each its math and studying proficiency charges in opposition to the state averages.
But the POLITICO assessment found that public contracts and public subsidies — including at the very least $98.5 million in tax credits from six states — have flowed to Pearson even when the company cannot present its products and services are producing academic good points.
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Over the decades, Pearson PLC — now based in London — purchased stakes in all method of industries, together with newspapers, amusement parks and even the Madame Tussauds wax museum. In 2014, Pearson Training gained a significant Widespread-Core testing contract through the Partnership for Assessment of Readiness for College and Careers.
The world’s largest schooling publisher, which in January noticed almost £2bn wiped from its stock market value after issuing its fifth revenue warning in two years, reported the document loss after taking a £2.55bn non-money charge for impairment of goodwill reflecting buying and selling pressures” in its North American businesses.