Expat Japan Network

Tom.svg · Posted: Sun Jul 01, 2007 6:24 am Post subject:

It's interesting that Nova's still recruiting from their London office.
So, it's business as usual, as far as unsuspecting newbies are concerned.

Diva · 昇進者 User is Offline Joined: 17 Feb 2007 Posts: 393

Burly · Posted: Sun Jul 01, 2007 12:38 pm Post subject:

Ewok · Posted: Sun Jul 01, 2007 1:38 pm Post subject:

I was thinking the same Burly Razz

They need to keep hiring the keep up with the number of teachers who are jumping ship - they know that without fresh meat they won't last a day.
_________________
半ばは自己の幸せを、半ばは他人の幸せを

Wage Slave · Posted: Sun Jul 01, 2007 2:24 pm Post subject:

I think that from whichever angle you look at NOVA's situation they have well and truly painted themselves into a corner. Just my opinion, but they are now holed below the waterline and slipping under the waves.
_________________
My fear is that heaven may be sort of geospecific. Since I've been a good boy here, I might get consigned to here's version of heaven.

Supermarket Dogfood · Posted: Sun Jul 01, 2007 6:35 pm Post subject:

NOVA will live on, but some of the lower performing branches are likely to be jettisoned.
_________________
'Just wait till kids come. Bovine excrement will hit the percolator then.' P Haughty

Tom.svg · Posted: Sun Jul 01, 2007 9:32 pm Post subject:

Wage Slave · Posted: Sun Jul 01, 2007 10:11 pm Post subject:

The problem for NOVA with closing branches is that it will be very expensive. In the new world they find themselves in, they will have to refund every student, in full, who doesn't want to take their lessons at another branch. If they don't do this then METI will have them for sure.

Like I said, they are now in a very tight corner indeed. Severe and long term financial problems, tight new restrictions on their operations, customer perceived value of their product badly damaged, brand badly damaged, poor retention of both learners and teachers, lost major govt contracts, other govt contracts raising eyebrows, dubious foreign expansion, very low share price in spite of the fact that most shares are apparently owned by the leadership and management who in turn seem to have the King Midas touch in reverse.

I would say the balance of probabilities is that they have had it. It's too late now for them to do anything meaningful even assuming (against the evidence so far) they have the capacity.
_________________
My fear is that heaven may be sort of geospecific. Since I've been a good boy here, I might get consigned to here's version of heaven.

Burly · Posted: Sun Jul 01, 2007 10:54 pm Post subject:

Very good points. I don't think that anyone will argue that they are is deep shit, it is the depth that people can't understand that makes them think they can carry on.

Mr. Monkeybridge said that he won't step down and that will piss a lot of shareholders off no end, to go from 6900 odd yen a share to 88 would make the most ardent supporter get up and walk.

Monday is another day and a day closer to pay day for the teachers, I wonder if they will get it this month Shocked

_________________
Just when I think I'm out They pull me back in!

Supermarket Dogfood · Posted: Mon Jul 02, 2007 8:57 am Post subject:

If I worked for NOVA I would be jumping ship at the first possible opportunity. There's a very high chance that many NOVA teachers are trying to do just that.
_________________
'Just wait till kids come. Bovine excrement will hit the percolator then.' P Haughty

Schizm · Posted: Mon Jul 02, 2007 11:49 am Post subject:

Where are the shares at Burly? Over 100 still?

Burly · Posted: Mon Jul 02, 2007 3:51 pm Post subject:

Yes in fact they are . Today was another day of bullshit from HQ. There was a report on the TV that H.I.S. was going to support them, that started a selling and buying frenzy. the share holders that knew better sold them and the people with out a clue bought them. 4,200,000 were sold today at up to 114 yen, then the price dropped back to 103.

I will give credit to NOVA for a smart way to raise the price of their shares so they can dump them. This is the second time that they have done this since the restrictions were forced on to them.

They will be busted very soon and the house of cards will come tumbling down.

You will not get the slab, mate, so don't get excited. Very Happy

_________________
Just when I think I'm out They pull me back in!