From The Los Angeles Times: Los Angeles schools Supt. Ramon C. Cortines wants to shut down a charter school over the alleged theft or misuse of as much as $2.7 million by the school's founding principal. The problems at NEW Academy Canoga Park were uncovered in an audit by the inspector general's office of the Los Angeles Unified School District. The elementary school of about 500 students faces a charter revocation hearing. The chairwoman of the school's board argues that NEW Academy should be allowed to survive because students are thriving.