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After03

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22/04/15

20:17

Post #: 15137118
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Originally posted by Mfi13695 ↑

It's definatley the same company, however IMO this is the ABC recycling a story with an added updated on additional findings from the VIC government, some may even veiw it as one government funded tv network trying to bolster funding for state funded tertiary colleges.
I'd be surprised if they didn't find some additional students that hadn't been certified properly, given the microscope that has been put on tertiary education in VIC over the past 6-12 months.
IMO these news stories, whilst they aren't good for a company trying to turn itself around, the changes they have implemented year to date (i.e the selling of assets, the appointment of a new CEO etc.) should give them a better financial report, Rebuild they company's repour with the VIC Govt and re-educate them on regulatory compliance. Even if they has to repay 2.5 million to the govt they'd still have cash in the bank & and as for the legal action, that could take years.DYOR
I believe Stewart Cummins is the right guy for this company, he has inherited a loooong tail of compliance, regulatory & monetary issues and if he has gotten the banks back on board with this, there's no reason why he can't appease the government as well IMO.

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Fair enough. It was on radio this afternoon as well.
Good luck, and I hope it doesnt impact the SP.

VET Price at posting: 16.0¢ Sentiment: None Disclosure: Not Held
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