Florida teachers fume as pension fund buys Edison for $174 million

Acting through a captive money management firm, the Florida Retirement System--whose members consist primarily of public school teachers and other public-sector employees--will pay off the debts and buy out the shareholders of the for-profit education firm Edison Schools Inc., it was revealed Nov. 12.

Reported price tag: $174 million.

The Florida Retirement System is chaired by Republican Gov.

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