The Dog’s Bollocks

Truth is like a dog’s bollocks – pretty obvious if you care to look.

How the mighty fall – it’s as easy as ABC…

The unedifying scramble by ABC Learning‘s senior executives to unload personal shares in ABC Learning is hardly reassuring news for fellow investors, their workers, or their clients who depend on their services so they can work two jobs and pay off the sub-primed McMansions.

Eddie GrovesFounded in 1988 in Ashgrove, Brisbane’s Eddy Groves, now the Global Chief Executive Officer of the company, ABC Learning, with the aid of cheap sub-prime credit and much largess from the Howard Government has acquired around 1000 childcare centres in Australia and another 500 or so in the US and South East Asia. They were even making overtures to state governments to operate for-profit McPrivate Schools in the McBurbs — courtesy of Howard’s funneling of education funding from public schools into the private sector.

Today’s bursting of the bubble is a long way from the halcyon days when Larry Anthony, Howard’s Minister for Childcare, lost his seat and took up a lucrative directorship with his good mate from ABC Learning. Who can forget when Costello’s granting of quite generous allowances and tax discounts magically transformed into higher fees by ABC Learning wihtin weeks? Brilliant! Those were the days!

ABC Learning has clearly placed corporate growth ahead of providing quality childcare. Never a good combination in my experience. Remember when they went to court defending a negligence charge when a small child escaped and wandered off? They argued that their liability went no further than their employees. That it had nothing to do whatsoever with chronic under-staffing by low-paid, under-skilled workers? Talk about laugh!

Just goes to show that making a quick buck is not the same thing as maintaining a healthy economy. The two should never be confused, despite what the Howardians led us to believe.

Filed under: Economics, Education, Howardians, Religion

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The Dog’s Bollocks

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