Investment program yields no returns

FLINT - A Flint-based marketing company has received $15,000 to develop a new Flint School District program to teach kids about investments, but so far the financially struggling district's own investment hasn't amounted to anything.

The President's Investment Club 4 Kidz Program has yet to materialize.

Board President Stephanie Robb Martin said the program to teach investments and stock analysis to 11- to 17-year-olds was to kick off this summer, but has been delayed.

"It was my hope that it could be utilized this summer in order to offer another positive alternative for young people in our community," Robb Martin said in an e-mail. "It has been delayed, however, due to all that our superintendent is working on to get ready for the fall.

"Recognizing that, whenever the administration can focus on getting it up and running, I am confident that they will."

FIFTHKING Corp. signed a contract with the district nearly four months ago and presented a manual of about 100 pages that included things such as what schools would be involved, a budget and even grant submittals, said Ethan DeSota, sales manager for the company.

Interim Superintendent Linda Thompson said the program was developed by Robb Martin in consultation with former Superintendent Walter Milton Jr.

Thompson said in an e-mail that she didn't know the details of the program or whether it is a "worthy venture at this time."

"Right now, the emphasis must be put on our current academic programming," Thompson said.

DeSota said he met with Robb Martin about her idea in late February or early March.

He said the investing club was to meet Saturdays. Students would learn about math, financial literacy and compete in a virtual stock market game.

DeSota said board member turnover and the superintendent change may have contributed to the project's delay.

"It could be a killer program," he said.

The payment to FIFTHKING, which was temporarily halted in April, came out of the superintendent's office budget, according to records obtained through the Freedom of Information Act.

In March, FIFTHKING presented another proposal to the board that included publishing copies of the district's strategic plan and overhauling and consolidating marketing efforts in part through a districtwide magazine.

"We're definitely wanting to pitch it again," DeSota said of that proposal, for which the company hasn't received any money. "We just want to see what the lay of the land is and what the new superintendent's goals and priorities are."