Child Care News
Childcare beacons in the storm
Sydney Morning Herald - Nicole Lindsay - September 15, 2018A record $11 million-plus childcare deal was struck this week amid a sea of pain in the niche sector. CBRE's health team, Sandro Peluso, Josh Twelftree and Jimmy Tat, sold Buckets Early Learning at 188 Tucker Road Bentleigh for $11.7 million on a yield of 5.53 per cent. It's the second...
Peter Dutton's right to sit in Parliament is in grave doubt: Constitutional expert
The New Daily - September 15, 2018Home Affairs Minister Peter Dutton has been dealt another legal blow as constitutional law expert Anne Twomey says her advice for his referral to the High Court is "stronger" than ever. Professor Twomey told The Australian the Solicitor-General's opinion brings up information about...
Cronyism is a weeping sore in Australian government
Sydney Morning Herald - Jack Waterford - September 15, 2018Nor to stand aside while the High Court considers if he is disqualified from holding office for being in a commercial arrangement with government by virtue of the millions received by a family-owned child-care operation. It will be hard enough to hold his seat at a general elections...
Queensland Entrepreneur of the Year and Gold Coast businessman Jae Fraser says G8 Education needs to refocus on core business
Gold Coast Bulletin - Alister Thomson - September 14, 2018A FORMER general manager of G8 Education says the company needs to refocus on its existing network and service offering rather than continuing to grow in an industry facing oversupply issues. Gold Coast businessman Jae Fraser, who runs the seven-strong Little Scholars School...
Banco Chambers to help with baby 'double whammy'
Financial Review - Michael Pelly - September 13, 2018A leading floor of barristers has set up a "baby leave" policy that will cover costs of about $30,000 and provide mentoring by silks when parents return to work. Banco Chambers in Sydney has committed to providing a six-month indemnity on floor fees and hopes it will stop women...
Julie Bishop backs Malcolm Turnbull's call to refer Peter Dutton to High Court
Financial Review - Phillip Coorey - September 13, 2018Legal opinion is divided over whether Mr Dutton's eligibility should be tested because two childcare centres held in a family trust potentially put him in breach of section 44(v) of the Constitution. Under the section, anyone who "has any direct or indirect pecuniary interest in any agreement...
Scott Morrison rejects Malcolm Turnbull plot to refer Peter Dutton
The Australian - Greg Brown and Remya Varga - September 13, 2018A cloud has been over Mr Dutton's eligibility due to his family's financial interests in two Brisbane childcare centres that received $5.6 million in taxpayer-funded rebates over the past eight years. Confirming his lobbying of ministers, Mr Turnbull tweeted early this morning...
No bidders for childcare centres as oversupply fears bite
Financial Review - Larry Schlesinger - September 12, 2018The previously red-hot childcare property sector came crashing back to earth this week as investors turned their backs on a portfolio of seven centres, with just one selling under the hammer at a lacklustre auction at Melbourne's Crown Casino. "I see a lot of folded arms in the room,"...
Skye Capital Advisory crucial to debt deals the banks are too shy to touch
Financial Review - Sarah Thompson & Anthony Macdonald - September 12, 2018Skye Capital opened its doors one year ago and has since advised on the refinance and upsize of ASX-listed Think Childcare's debt facilities; arranged the debt facilities of LJ Hooker; and navigated the debt component of Livingbridge's acquisition of TSA Management and Allegro...
Premier Berejiklian visits Dubbo to announce $3 million drought-relief package for preschools
Daily Liberal - Antonia O'Flaherty - September 12, 2018She said the package would provide for communities most impacted by the drought like Dubbo West Preschool, where the package was announced with Minister for Early Childhood Education Sarah Mitchell. "Each preschool in the drought-intense area will receive at least $3000...
G8 Education joins top 10 ASX shorted stocks
Financial Review - Simon Evans - September 12, 2018G8 Education has risen up the ranks to find itself in the unwanted position of now being in the top 10 most shorted stocks on the ASX, as investors bet that it will continue to have a tough time in a sector where pockets of oversupply of childcare places have temporarily distorted...
New Federal Education Minister Dan Tehan comes under fire for funding changes
The Standard - Andrew Thompson - September 12, 2018NEW Federal Education Minister Dan Tehan has come under fire after changes to the National Occasional Care Program which has seen 360 placements and funding of $300,000 axed in his electorate. Opposition Federal spokeswoman for Early Childhood Education and Development...
Childcare payments frozen after another bungle
The Courier Mail - Matthew Killoran - September 12, 2018BUGBEARS continue to haunt the new child care system, leaving some early childhood educators unpaid and parents out of pocket. Brisbane-based My Place Family Day Care boss Ross Paul said they were at risk of being unable to pay their 130 educators - including Jansi Rayar who...
'60pc of wage goes to childcare costs': Women's poor pay target of union plan
Sydney Morning Herald - Anna Patty - September 12, 2018Unions have put pay parity front and centre in a new push to ensure wage deals don't disadvantage women. The onus would be on businesses and unions to prove women weren't worse off than their male counterparts as part of an Australian Council of Trade Unions blueprint...
Investors steer clear of G8 childcare centre amid glut fears
Financial Review - Larry Schlesinger - September 11, 2018A western Sydney childcare centre leased to struggling ASX-listed operator G8 failed to sell as part of a portfolio auction in Sydney after the company warned last month of an oversupply of childcare facilities across the country. The modern, multi-level property at 108 Dalmeny Drive...
