No mantra I'm right YOU are wrong ABC was a private company not government... now who lied and who was confused or ignorant?mantra wrote:Now you are twisting the truth - so does that mean you're lying? The Coalition stripped most of the community day care centres of their funding. Many of them were forced to close. Money was being given away to every man and his dog, so an incompetent started buying all the centres up.Rorschach wrote:ABC folded due to bad management, I watched the 4 corners report.
ABC childcare was a private business not government you moron.
That's what Howard did best - strip funding from many public and community services and encouraged privatisation and as a consequence too many of them went bust. Labor started building these services up again - now Abbott is dismantling them yet again.
Not every ABC has anything to do with the ABC you know.



ABC Learning was an Australian company that was once the world's largest provider of early childhood education services. It was listed on the Australian Securities Exchange with its market capitalisation reaching A$2.5 billion in March 2006. The company went into administrative receivership after a fallout from the subprime mortgage crisis caused debt repayments to overwhelm the company, and the auditors failed to sign off on the financial reports citing the need to recast previous year's reported profits.
Critics of ABC Learning said it was making considerable profits at the expense of Australian taxpayers whose money subsidised the use of childcare with means-tested tax rebates. In addition, the peak body for community-based childcare services in NSW, Community Child Care Co-operative (NSW), argued the profits of ABC Learning were built upon inequitable low staff wages and cost-cutting, which was detrimental to the quality of education and care, and that the business model would not be sustainable.
The company was under investigation by the Australian Securities and Investments Commission.
It was, as we now know, all an incredible sham. The business was in financial turmoil and its founder Eddy Groves is still under economic and legal scrutiny.