If they can't control their own shares what chance for our kids?

[MikesMum]

ABC Learning talking to buyers
Posted 8 hours 31 minutes ago
Updated 6 hours 17 minutes ago


Buyers circling: ABC Learning Centres CEO Eddie Groves (AAP: Dave Hunt)
Video: Sale plan keeps ABC Learning shares in limbo (ABC News) Audio: ABC Learning directors must disclose loans: expert (AM) ABC Learning's shares remain suspended from trade today as talks continue with prospective buyers of part of its business.

The company's shares were placed on a trading halt on Wednesday, as it held discussions over the sale of part of its business.

Last night ABC Learning requested that its shares remain suspended from trade for another three days as talks continue.

Analysts say it is likely ABC Learning is looking to offload its US childcare centres.

The company expanded aggressively into America and some commentators say that has left it heavily in debt and facing its current problems.

Last night the company rejected suggestions the release of its disappointing profit results caught the market off-guard and led to the share price plunge this week.

It maintains it has always kept the market well-informed.

[sam's mum]

I don't see it as being the same thing. The two tasks are distinctly different - financial management vs child care. One is core business, the other is not.

you don't hire a plumber based on how well he manages his company financially, you want him to be a good plumber....

[MummaBear03]

I don't see it as being the same thing. The two tasks are distinctly different - financial management vs child care. One is core business, the other is not.

you don't hire a plumber based on how well he manages his company financially, you want him to be a good plumber....
:iagree: I wrote out a long post for this a little while ago and when I tried to submit it, it came up that the thread was invalid :confused:

[forbetoel]

I don't like the idea of any childcare centre that has share holders.

All business' have their shareholders as their number one priority.

[MummaBear03]

Yes but saying they can't look after the kids is going a little too far. Anyone who can keep up with the paperwork and produce quality programs, and at the same time look out for the safety and well-being of the children are worth keeping in the lives of the children. Some are not good, most are brilliant. Childcare centres are businesses. They rely on profits to keep them operational. If they don't make a profit, the owner/s will not keep them open. But that's not a reflection of the workers and the care they give the children. We do it because we love it, we certainly don't do it for the money :laughing: I could earn more working at IGA at a checkout than working as a Group Leader for ABC Learning, and working checkouts at IGA means no work goes home with you in the evenings or on the weekends.

[Mrs J]

I Just pulled me Daughter out of a ABC centre, i dropped her off yesterday, they had 5 babies crying all the toddlers were out side on there own noone watching, climbing the climbing frames etc, The teachers were rocking babies and TALKING between themselves while the toddlers were on there own. I then watched them have arvo tea they gave them the smallest amount and they all asked for more and she replied with we cant afford it :no: i pay enough a week and i expect my child to be supervised at all times and fed properly not left hungry. She also had a dirty nappy that had been there a while, it was dried on, will not send her back to a ABC ever again there care has gone down hill so fast, they can't keep staff on they just keep leaving. I wouldn't go as far as they CAN'T look after kids but they arn't doing as good a job as they used to, everything has been cut down, staff, food, toys, they have even now bought out clothes u have to buy for them to wear with ABC on it. There is one problem with the guy that owns it, he has gone to big to fast, he was to busy buying out all the competition to realise he was in trouble, he bought out and took over 5 centres in our area incl the one DD was at :no: He is a greedy man and our kids welfare is NOT on his mind, its all about the money. Id like to add that DD has come home with bruises on her and when asked they say nothing happend when it wasnt there when i left her there, she must of hurt herself there.

[MikesMum]

I don't see it as being the same thing. The two tasks are distinctly different - financial management vs child care. One is core business, the other is not.

you don't hire a plumber based on how well he manages his company financially, you want him to be a good plumber....

ABC Learning founder sells most of stake
ABC Learning Centres Ltd founder Eddie Groves has been forced to sell almost his entire stake in the company after facing more margins calls.
Mr Groves sold off more than 12 million shares on Thursday at $2.14 apiece - leaving him with only 3,186 ordinary shares in the company he built up from a single childcare centre in Brisbane 20 years ago.
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After topping the annual Business Review Weekly Young Rich List with a personal fortune of $260 million two year ago, Mr Groves now owns a $4,683.42 stake in ABC.:yelclap:

His wife Le Neve Groves also sold off her entire stake of six million shares at $2.21 apiece on Thursday, while the childcare giant's Australian head Martin Kemp sold 2.7 million shares at $2.02 each.:yelclap:

This is HUGE and I BET THE CHILDREN ARE THE LAST THING ON THEIR MINDS:rain: AS THEY ALWAYS HAVE BEEN!
Shareholders have been mauled from over $8 a share to around $2 now, you don't trade in children and they derserve this because they were a pack of greedy takeover merchants!

[MikesMum]

I Just pulled me Daughter out of a ABC centre, i dropped her off yesterday, they had 5 babies crying all the toddlers were out side on there own noone watching, climbing the climbing frames etc, The teachers were rocking babies and TALKING between themselves while the toddlers were on there own. I then watched them have arvo tea they gave them the smallest amount and they all asked for more and she replied with we cant afford it :no: i pay enough a week and i expect my child to be supervised at all times and fed properly not left hungry. She also had a dirty nappy that had been there a while, it was dried on, will not send her back to a ABC ever again there care has gone down hill so fast, they can't keep staff on they just keep leaving. I wouldn't go as far as they CAN'T look after kids but they arn't doing as good a job as they used to, everything has been cut down, staff, food, toys, they have even now bought out clothes u have to buy for them to wear with ABC on it. There is one problem with the guy that owns it, he has gone to big to fast, he was to busy buying out all the competition to realise he was in trouble, he bought out and took over 5 centres in our area incl the one DD was at :no: He is a greedy man and our kids welfare is NOT on his mind, its all about the money. Id like to add that DD has come home with bruises on her and when asked they say nothing happend when it wasnt there when i left her there, she must of hurt herself there.

I agree, most are young girls and talk a lot of the day (I've been there to see it).
They earn chickenfeed so SOME give our kids poor care and attention until one slips over the wall of course!
Take your child and run!:flowerz:

[Coffee]

Sure, the bosses of the ABC may don't care about the kids but luckily, they don't have to.

They are not in the center, they don't look after the children.
Eventhough, all the centers are OWNED by the same person, they are still indivudals.

I just wonder, why there are so many people who send their kids to the ABC and nothing bad happenes to them, when they are so bad?

I can't say it enough, that ABC my Son goes to is FANTASTIC.

Kids get hurt, when they're playing, that doesn't mean, that the carers don't look after them properly.
Some kids bite, some kids hit, that's just what kids do. While I agree it's not good, if it happens, it can.

I have to supply my sons meals, so there's no such thing as we can't afford feeding them..

The ABC bashing just annoys me so much. There might be some bad centers out there but also some good ones.

I bet, the same goes with FD or community based centers.

As far as the clothes go with the ABC label on it, you don't have to buy them. I would never buy them. And I agree, that's cr@p but that's not the centers fault.

[naebie]

I agree that, as with all chidcare centres, ABC have some good centres, as well as some not so good centres.
What it comes down to is the commitment of the staff and directors of the centres. Sure, they are strictly controlled by head office, but they still have the ultimate say when it comes to the day to day running of the centre.
No matter where you send your child, you should be happy that they are receiving the care and attention that they deserve, and this decision should, in my opinion, be based on your observation of the centre. If you are unhappy with the centre, fair enough, take your child out, but that doesn't necessarily mean that all centres run by that company will be as 'bad'. Take each centre as an individual, that way you will be sure to find a high quality centre that you feel comfortable sending your child to.