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The Nobel Learning Communities of West Chester, Pennsylvania, has reported in a filing with the Securities and Exchange Commission that it paid $3.15 million for Encinitas-based Rhoades School. It announced the purchase Sept. 30. The company confirmed this morning that it was a cash transaction. The school was owned by Bob Kittle, former editorial writer and unofficial voice of the Union-Tribune, and his wife, Luanne. Kittle was sacked Aug. 12 as part of a general head-chopping by the new owners of the newspaper. The Kittles had bought the school from the founder, Charlotte Rhoades-Glinski. I asked Bob Kittle this morning what he and his wife had netted from the transaction -- that is, what they received minus what they had earlier paid. "The transaction, outside of what is required to be disclosed, is a private matter," said Kittle. I asked what he and his wife planned to do. "Our plans are a private matter," he said.
Nobel Learning Communities is 36.7% owned by Michael R. Milken, the junk bond king of two decades ago, who pleaded guilty to six felony counts of securities fraud and conspiracy, paid $600 million in fines and spent 22 months in prison. Nobel lost $1.4 million in its first quarter of fiscal 2010 for the period ended Sept. 26, 2009.
The Nobel Learning Communities of West Chester, Pennsylvania, has reported in a filing with the Securities and Exchange Commission that it paid $3.15 million for Encinitas-based Rhoades School. It announced the purchase Sept. 30. The company confirmed this morning that it was a cash transaction. The school was owned by Bob Kittle, former editorial writer and unofficial voice of the Union-Tribune, and his wife, Luanne. Kittle was sacked Aug. 12 as part of a general head-chopping by the new owners of the newspaper. The Kittles had bought the school from the founder, Charlotte Rhoades-Glinski. I asked Bob Kittle this morning what he and his wife had netted from the transaction -- that is, what they received minus what they had earlier paid. "The transaction, outside of what is required to be disclosed, is a private matter," said Kittle. I asked what he and his wife planned to do. "Our plans are a private matter," he said.
Nobel Learning Communities is 36.7% owned by Michael R. Milken, the junk bond king of two decades ago, who pleaded guilty to six felony counts of securities fraud and conspiracy, paid $600 million in fines and spent 22 months in prison. Nobel lost $1.4 million in its first quarter of fiscal 2010 for the period ended Sept. 26, 2009.