The New York City Department of Education announced that it was closing down the “Aspiring Principals” program, which was the linchpin of the NYC Leadership Academy. The Leadership Academy was launched by Joel Klein as a bold effort to attract business leaders, young teachers, and out-of-town principals who wanted a fast track to be a principal in New York City.

The first chairman of its board was Jack Welch of General Electric, who believed in grading all employees every year and firing the bottom 10%. The first CEO of the Academy was Robert Knowling Jr., a tech executive from Denver whose company had just collapsed. He brought a staff of more than 20 people with him to New York, including his personal coach.

Bloomberg raised $75 million for its first three years of operations. After that, the Department had a “competition” and awarded $50 million to the Leadership Academy, at which time Klein was chairman of the board.

The Leadership Academy was announced with great fanfare, like all Bloomberg initiatives, and school boards came from across the country to learn about it. What a great idea! Training business executives to be principals! It was about as good an idea as Bloomberg’s choice of a publishing executive to become chancellor after Klein stepped down. She lasted only three months.

The results of the Leadership Academy were unimpressive.

The only out-of-town principal who joined the program departed after six months. No business executives finished the program. It served as a pipeline for typically young teachers, who didn’t want to wait to gain the experience to become a school leader. Those who became principals found themselves in charge of a staff of veteran teachers who resented the quickie principals who had little experience and were in their late 20s or early 30s.

The city also cut its ties with TNTP, which Michelle Rhee created before she was D.C. Chancellor.