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. Jeb Bush, who supported the purchase despite vigorous objections from teacher unions and some investment experts. The decision to buy Edison, which has used school technology as a key sales


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