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partialtone
Joined: 09 May 2007
Posts: 137
Location: CA
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 Posted: Fri Oct 26, 2007 5:22 am Post subject: |
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| Sweet ... indefinite vacation! |
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drifter13
Joined: 27 Mar 2007
Posts: 124
Location: Fujisawa
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| Posted: Fri Oct 26, 2007 11:30 am Post subject: |
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| partialtone wrote: |
| Sweet ... indefinite vacation! |
Yep, it sure is looking that way. The new board is looking for someone to bail thier asses out, but at this point I just think Nova is far to radioactive to touch, at least for the time being. They've applied for Company Rehabilitation, so things are being run by the recievers assigned by the Osaka Disrict court. Rumors are floating about that METI actually wants to keep the thing limping along, which makes some sense when you consider the amount of money the government will have to hand for unemployment, and to foreigners no less.
Looks like the Nova fallout may be as slow and entertaining as the collapse. |
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gaijin4life
Joined: 23 Sep 2006
Posts: 150
Location: Westside of the Eastside, Japan
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| Posted: Fri Oct 26, 2007 12:06 pm Post subject: |
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| Rumors are floating about that METI actually wants to keep the thing limping along, which makes some sense when you consider the amount of money the government will have to hand for unemployment, and to foreigners no less. |
And, I would think for the sake of all those students who have spent considerable money buying NOVA lessons .. |
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Guy Courchesne
Joined: 10 Mar 2003
Posts: 9650
Location: Mexico City
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| Posted: Fri Oct 26, 2007 1:08 pm Post subject: |
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| What happens to the NOVA FTs for their visas if this drags out? |
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fluffyhamster
Joined: 13 Mar 2005
Posts: 3292
Location: UK > China > Japan > UK again
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| Posted: Fri Oct 26, 2007 1:55 pm Post subject: |
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| Let's hope Immigration cuts those NOVA teachers with about-to-expire visas a little slack. |
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nawlinsgurl
Joined: 01 May 2004
Posts: 363
Location: Kanagawa and feeling Ok....
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| Posted: Fri Oct 26, 2007 2:20 pm Post subject: |
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| I didn't get a chance to buy an Usagi for the memories!!! What will they do with all those pink rabbits now? |
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Eva Pilot
Joined: 19 Mar 2006
Posts: 351
Location: Far West of the Far East
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| Posted: Fri Oct 26, 2007 3:00 pm Post subject: |
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| nawlinsgurl wrote: |
| I didn't get a chance to buy an Usagi for the memories!!! What will they do with all those pink rabbits now? |
I bought one last week for that very reason. Colletable item.  |
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Hoser
Joined: 19 Mar 2005
Posts: 694
Location: Toronto, Canada
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| Posted: Fri Oct 26, 2007 3:19 pm Post subject: |
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| drifter13 wrote: |
| partialtone wrote: |
| Sweet ... indefinite vacation! |
Yep, it sure is looking that way. The new board is looking for someone to bail thier asses out, but at this point I just think Nova is far to radioactive to touch, at least for the time being. They've applied for Company Rehabilitation, so things are being run by the recievers assigned by the Osaka Disrict court. Rumors are floating about that METI actually wants to keep the thing limping along, which makes some sense when you consider the amount of money the government will have to hand for unemployment, and to foreigners no less.
Looks like the Nova fallout may be as slow and entertaining as the collapse. |
If the government doesn't want NOVA to collapse then you'd have to think it was a bit ridiculous of them to issue their penalty regarding new signings. I mean it was obviously totally NOVA's fault but at the same time you can't disallow a company from signing new contracts and then be surprised when the company declares bankruptcy. |
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southofreality
Joined: 12 Feb 2007
Posts: 579
Location: Tokyo
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| Posted: Fri Oct 26, 2007 3:29 pm Post subject: |
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NOVA wasn't disallowed from signing new contracts; they we're forbidden to sign contracts in excess of 1 year. The problem for NOVA was that their income was mostly based on those lengthy contracts. This caused NOVA to be focused mainly on getting new sign-ups and to have little if any care for already enrolled students. Students who couldn't find open time slots to take classes were constantly frustrated with NOVA staff members not doing enough to resolve such situations. NOVA schools also violated the law concerning the 'cooling off' period and student refunds.
In short, NOVA was chiefly concerned with getting money from new students and then hanging onto it at all costs, student satisfaction be damned.
The government just wanted to NOVA to eliminate such shady business practices and implemented sanctions they thought were sufficient to bring NOVA into line. At the time of the sanctions, few were predicting they would result in the rapid downfall that has actually occurred. |
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Miyazaki
Joined: 12 Jul 2005
Posts: 635
Location: My Father's Yacht
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| Posted: Fri Oct 26, 2007 7:34 pm Post subject: |
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| southofreality wrote: |
NOVA wasn't disallowed from signing new contracts; they we're forbidden to sign contracts in excess of 1 year. The problem for NOVA was that their income was mostly based on those lengthy contracts. This caused NOVA to be focused mainly on getting new sign-ups and to have little if any care for already enrolled students. Students who couldn't find open time slots to take classes were constantly frustrated with NOVA staff members not doing enough to resolve such situations. NOVA schools also violated the law concerning the 'cooling off' period and student refunds.
In short, NOVA was chiefly concerned with getting money from new students and then hanging onto it at all costs, student satisfaction be damned.
The government just wanted to NOVA to eliminate such shady business practices and implemented sanctions they thought were sufficient to bring NOVA into line. At the time of the sanctions, few were predicting they would result in the rapid downfall that has actually occurred. |
I think that's a pretty good summary of what had happened.
Lots of law suits against Nova from students.
The courts had to slap them.
A greasy company, for sure. |
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chollimaspeed
Joined: 11 Sep 2007
Posts: 120
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| Posted: Fri Oct 26, 2007 11:36 pm Post subject: |
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| Guy Courchesne wrote: |
| What happens to the NOVA FTs for their visas if this drags out? |
Those with visas will be fine as the visa belongs to the person not the company. But a lot of people must have been going through the visa renewal period and now could find themselves with no money and no visa. A very nasty situation. |
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midnightpariah
Joined: 26 May 2007
Posts: 85
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| Posted: Sat Oct 27, 2007 1:03 am Post subject: |
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| nawlinsgurl wrote: |
| I didn't get a chance to buy an Usagi for the memories!!! What will they do with all those pink rabbits now? |
You should check the recycle shops. I found one there last week for only 150 yen. I was going to buy it, but my boss was with me...lol |
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Hoser
Joined: 19 Mar 2005
Posts: 694
Location: Toronto, Canada
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| Posted: Sat Oct 27, 2007 1:52 am Post subject: |
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| I had a friend who just applied to renew their visa yesterday. I wonder will they still be ok? Or would the government of Japan issue a moratorium on all visa renewals for Nova employees? |
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RingofFire
Joined: 22 Jul 2007
Posts: 43
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| Posted: Sat Oct 27, 2007 2:47 am Post subject: |
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| Hoser wrote: |
| I had a friend who just applied to renew their visa yesterday. I wonder will they still be ok? Or would the government of Japan issue a moratorium on all visa renewals for Nova employees? |
If the information they put down on the application refers to Nova as their employer, I imagine they would potentially have problems.
I can see it go either way but I'll take the optimistic path: Nova hasn't fired or let go any of its regular teaching staff because of bankruptcy unless I'm reading things wrong, so it seems to me a bit irreponsible if immigration decides to deny still technically-employed staff visa renewals. |
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guruengerish
Joined: 28 Mar 2004
Posts: 424
Location: Australia
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| Posted: Sat Oct 27, 2007 11:30 am Post subject: Nova |
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Australian ABC news has it that thousands of teachers are out of work, and this includes 1000 Aussie teachers.
One guy was interviewed, saying that he was just about to get a visa. If it's like most other countries, no employer - no visa.
Well, there's plenty of vacancies in Indonesia guys - paying around $400 to $1800 a month. Good luck! |
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