P82 Adult Community and Other Education

Education may stop backslide

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Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 11-Feb-15

Australia currently boasts the world’s 19-largest economy, but a PwC report says the nation risks falling to 29th place by 2050. PwC Australia economist Jeremy Thorpe stresses the need for greater emphasis on education and training in order to maintain Australia’s status as one of the world’s 20 largest economies. He says the science, technology, engineering and mathematics disciplines should be a particular focus

CORPORATES
PRICEWATERHOUSECOOPERS, GROUP OF TWENTY (G-20), GROUP OF THIRTY (G-30), GROUP OF SEVEN (G-7), NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA

Whitford in bid to stop break-up of Vocation

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Original article by Simon Evans
The Australian Financial Review – Page: 13 & 18 : 9-Feb-15

A number of potential buyers have expressed interest in buying assets from the embattled Vocation Limited. Korda Mentha’s 333 Capital division has commenced the process of selling Vocation’s assets. However, 15 per cent stakeholder and co-founder Brett Whitford proposes to recapitalise the education provider and retain its sharemarket listing rather than divest its assets. Vocation shares remain in a trading halt

CORPORATES
VOCATION LIMITED – ASX VET, KORDA MENTHA AND COLLEAGUES PTY LTD, 333 CAPITAL PTY LTD, EVOCCA COLLEGE, CUSTOMER SERVICE INSTITUTE OF AUSTRALIA, UBS HOLDINGS PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, VICTORIA. DEPT OF EDUCATION AND EARLY CHILDHOOD DEVELOPMENT, BAWM GROUP PTY LTD, ASPIN PTY LTD, DUET GROUP – ASX DUE, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC

Angel investor Clive Mayhew leads $1.7m round in OpenLearning

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Original article by Caitlin Fitzsimmons
BRW – Page: online : 5-Feb-15

Australian online education platform OpenLearning has received $A1.7 million in funding from individual investors. Clive Mayhew contributed $A1 million. The company will use the new capital to fund expansion, aiming to raise the number of its users from 125,000 to a million globally by 2016

CORPORATES
OPEN LEARNING PTY LTD, MURU-D PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, ASX LIMITED – ASX ASX, ICSGLOBAL LIMITED – ASX ICS, BENESSE HOLDINGS PTY LTD, SKY SOFTWARE PTY LTD, SYDNEY SEEED FUND MANAGEMENT PTY LTD, ORCHARD STREET PTY LTD, COURSERA INCORPORATED

ANZ backs exam for financial advisers

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Original article by Joanna Mather, Joyce Moullakis
The Australian Financial Review – Page: 3 : 12-Jan-15

The ANZ Bank’s submission to a Senate inquiry has supported a proposal to subject financial planners to an annual exam of their skills and knowledge. The bank’s submission cites a US Financial Industry Regulatory Authority exam as a model that could be considered in Australia. Centrepoint Alliance and Choice are among the other organisations that support exams for financial planners, although the Financial Planning Association does not

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN CONSUMERS’ ASSOCIATION, CENTREPOINT ALLIANCE LIMITED – ASX CAF, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

Careers Network falls 20pc on sector trauma

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Original article by Kylar Loussikian
The Australian – Page: 19 : 16-Dec-14

Australian Careers Network’s stock finished its first day of trading at $A1.36 on 15 December 2014, after listing at $A1.70. The vocational education and training group’s IPO was worth $A54.4m, after it initially aimed to raise $A100m. CEO Ivan Brown says part of the proceeds will be used to finance acquisitions. Several other recent IPOs in the education and training sector have also underperformed

CORPORATES
AUSTRALIAN CAREERS NETWORK LIMITED – ASX ACO, PETRA CAPITAL PTY LTD, VOCATION LIMITED – ASX VET, SIMONDS GROUP LIMITED – ASX SIO, BUILDERS ACADEMY AUSTRALIA, AUSTRALIAN MANAGEMENT ACADEMY, COVE TRAINING

Chairman Dawkins vacates Vocation

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Original article by Kylar Loussikian
The Australian – Page: 21 : 28-Nov-14

Ex-Minter Ellison partner Mark Elliott, notorious for launching class action law suits against companies in which he has marginal shareholdings, has joined law firms Maurice Blackburn and Slater & Gordon in bringing such a case against Vocation. The Supreme Court of Victoria will hear allegations of misleading or deceptive conduct, after the Victorian Department of Education & Early Childhood Development cancelled funding worth $A20m for Vocation off-shoots BAWM and Aspin. Meanwhile John Dawkins has stepped down as chair of the private education services provider

CORPORATES
VOCATION LIMITED – ASX VET, SLATER AND GORDON LIMITED – ASX SGH, MAURICE BLACKBURN PTY LTD, SUPREME COURT OF VICTORIA, VICTORIA. DEPT OF EDUCATION AND EARLY CHILDHOOD DEVELOPMENT, BAWM GROUP PTY LTD, ASPIN PTY LTD, DUET GROUP – ASX DUE, AUSTRALIAN LABOR PARTY, ASX LIMITED – ASX ASX, BSL LITIGATION PARTNERS LIMITED, AUSTRALIAN SKILLS QUALITY AUTHORITY, BANKSIA SECURITIES LIMITED, LEIGHTON HOLDINGS LIMITED – ASX LEI, TREASURY WINE ESTATES LIMITED – ASX TWE, WORLEYPARSONS LIMITED – ASX WOR, DOWNER EDI LIMITED – ASX DOW

Andrews makes pitch to parents

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Original article by Richard Willingham, Steve Lillebuen
The Age – Page: 4 : 27-Oct-14

The Australian Labor Party on 26 October 2014 staged its official campaign launch for the Victorian state election in November. Opposition Leader Daniel Andrews made increased spending on education a major plank in his platform, pledging $A1.3bn in total. Many of the measures consist of assistance payments to school students from low-income households. However $A320m will also be allocated to supporting and relaunching TAFE colleges. Meanwhile federal Labor leader Bill Shorten mocked Prime Minister Tony Abbott’s failure to campaign with Premier Denis Napthine in Victoria

CORPORATES
AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, VICTORIA. DEPT OF TREASURY AND FINANCE, HOLMESGLEN INSTITUTE OF TAFE

Student ‘acted in public interest’

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Original article by Louise Hall
The Sydney Morning Herald – Page: 13 : 24-Oct-14

A former employee of the Whitehouse Institute of Design has pleaded guilty to accessing restricted data. She leaked information about a $A60,000 "chairman’s scholarship" awarded to Prime Minister Tony Abbott’s daughter, Frances Abbott. A sentencing hearing took place on 23 October 2014. The woman will be sentenced on 25 November

CORPORATES
WHITEHOUSE SCHOOL OF FASHION AND INTERIOR DESIGN, DISTRICT COURT OF NEW SOUTH WALES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNIVERSITY OF TECHNOLOGY, SYDNEY

Tax breaks to be reintroduced

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Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 13-Oct-14

The Australian Government will unveil its National Industry Investment and Competitiveness Agenda on 14 October 2014. The policy includes unwinding the Australian Labor Party’s changes to regulations governing employee share schemes and changes to the significant investor scheme to ensure that money is invested in sectors of the economy where it is needed. The Government will also encourage greater co-operation between the business and education sectors

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST

Foreign students to bring in $30b

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Original article by Alan Olsen
The Australian Financial Review – Page: 35 : 6-Oct-14

Australia’s education export industry was worth $A16.4bn in 2010, compared with just $A7.9bn in 2004. This fell to $A14.6bn in fiscal 2013, but there has since been a rebound in international student enrolments as the Australian dollar weakened. It is estimated that if the number of foreign students continues to grow by about five per cent annually in coming years, the nation’s education export market could be worth $A30.8bn by 2020

CORPORATES
AUSTRADE, ECONOMIST INTELLIGENCE UNIT