The End of Nova Thread

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The End of Nova Thread

Unread post by Shawn » Sat Jul 28, 2007 10:47 am

I'm posting this here as a "clearing house" thread for information on Nova. According to this thread on 2Ch., it appears that the Japanese staff have not been paid their salaries, and bonuses have been delayed until October.

Since other forums such as gaijinpot keep deleting threads about Nova, it's difficult to keep track of developments concerning Nova. If you have information on Nova, post it here or in the blog.

As you know, Nova has been financially hurt by its scandalous behavior and the punishment by METI. The non-payment of bonuses is not surprising, but not paying or delaying salaries is a whole new ball of wax and suggests very serious cash flow problems.

allblacks

Unread post by allblacks » Sat Jul 28, 2007 2:43 pm

Thats also illegal as the employer is obligated to pay on a stipulated day of the month.

allblacks

Unread post by allblacks » Sat Jul 28, 2007 2:52 pm

And here is the report where they show how much money they have lost...

http://www.nova.ne.jp/ir/pdf/gaikyo_h18_060307.pdf

allblacks

Unread post by allblacks » Sat Jul 28, 2007 10:06 pm

Well thanks for telling us all that stuff we already know and have bandied about here for ages. If you had bothered to read any of the other threads you wouldnt look like such a goose now. Gawd! Talk about lazy newbies.

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Unread post by HungFarLow » Sat Jul 28, 2007 11:14 pm

I think your post is real nice.

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Unread post by JP_Jones » Sun Jul 29, 2007 12:21 am

PanicInducingGaijin,

interesting post. thanks.

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Unread post by SamhainP8 » Sun Jul 29, 2007 1:21 am

Deep breathe ready and turd filter in check, lets go down! YEAH :clap:
"Do you know how a falcon is trained, my dear? Her eyes are sewn shut. Blinded temporarily, she suffers the whims of her God patiently, until her will is submerged and she learns to serve - as your God taught and blinded you with crosses."

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Unread post by SamhainP8 » Sun Jul 29, 2007 1:25 am

p.s. I don't care about myself at the wazza as i've had a good run and saved fuckloads. I do however feel sorry for all the newbies just shipped over here and had there first day in the last week! They may not see a single yen from the company and be out a good few thousand each :?  Expect a lot of bail out phone calls to parents back home, not just from newbies but also lots of veterans that live month to month.
"Do you know how a falcon is trained, my dear? Her eyes are sewn shut. Blinded temporarily, she suffers the whims of her God patiently, until her will is submerged and she learns to serve - as your God taught and blinded you with crosses."

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Unread post by Level3 » Sun Jul 29, 2007 3:07 am

I predicted (on a deleted GP thread back when the govt. sanctions came in) that NOVA would abruptly close it's doors on the day after (non)pay day in October,going by how much cash they had on hand given the rate they have been bleeding red ink for the last 2 years, the math said October. This is assuming they both lose their biggest source of income (long contracts) AND cancel all advertising... those factors cancel each other out.
So by October, Saruhashi will have squirreled away as much money for himself as possible in untouchable bank accounts, there would be no payday for Japnaese staff or gaijin teachers, and everyone would show up ready to raise hell at the branch, and there would be a piece of A4 paper on the locked doors with a notice that NOVA was closed, for some BS reason.

Now the news is that NOVA is deliberately trying to string along their own staff for a while until they "get" their unpaid summer bous in October. Anyone with half a brain should know that there will be no bonus in October, and likely there will be no salary either.

Foriegn staff are bailing out, right? Now, even the J staff dumb enough to still work there must be writing out thier resumes at their desks, which is a big HEADS UP to all NOVA teachers.

Please keep an eye out for those resume forms at your branches. Given that resumes generally have to be written BY HAND (welcome to the 18th century) it takes a long time, when better than at work for a company that proabbly isn't going to pay you?
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Unread post by TevinDestro » Sun Jul 29, 2007 3:21 am

Level3 wrote:I predicted (on a deleted GP thread back when the govt. sanctions came in) that NOVA would abruptly close it's doors on the day after (non)pay day in October,going by how much cash they had on hand given the rate they have been bleeding red ink for the last 2 years, the math said October. This is assuming they both lose their biggest source of income (long contracts) AND cancel all advertising... those factors cancel each other out.
So by October, Saruhashi will have squirreled away as much money for himself as possible in untouchable bank accounts, there would be no payday for Japnaese staff or gaijin teachers, and everyone would show up ready to raise hell at the branch, and there would be a piece of A4 paper on the locked doors with a notice that NOVA was closed, for some BS reason.

Now the news is that NOVA is deliberately trying to string along their own staff for a while until they "get" their unpaid summer bous in October. Anyone with half a brain should know that there will be no bonus in October, and likely there will be no salary either.

Foriegn staff are bailing out, right? Now, even the J staff dumb enough to still work there must be writing out thier resumes at their desks, which is a big HEADS UP to all NOVA teachers.

Please keep an eye out for those resume forms at your branches. Given that resumes generally have to be written BY HAND (welcome to the 18th century) it takes a long time, when better than at work for a company that proabbly isn't going to pay you?
I've been quietly polishing my resume since January. God knows I'd love for some of those companies to call me back about now.
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Unread post by Shawn » Sun Jul 29, 2007 8:49 am

allblacks wrote:Well thanks for telling us all that stuff we already know and have bandied about here for ages. If you had bothered to read any of the other threads you wouldnt look like such a goose now. Gawd! Talk about lazy newbies.
AB,

Yeah, he's recapping the Nova story, but I think the point is that stuff like this has been repeatedly deleted from gaijinpot. I was following a few quality threads on Nova and they suddenly disappeared.

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Unread post by SamhainP8 » Sun Jul 29, 2007 12:26 pm

PanicInducingGaijin wrote:
SamhainP8 wrote:p.s. I don't care about myself at the wazza as i've had a good run and saved fuckloads.
It's good that you have, but are you planning to stay in Japan afterward? If Nova goes tits up, there are going to be a lot of newly unemployed people desperately looking for teaching work. Of course if you have fuckloads of money, you could probably ride things out for a couple months. :wink:
I'd stay in Japan and study full time until after the JLPT and then go back to Uni a year earlier. I've still got a couple of part time jobs on the side that would pay for rent etc. I'd just have to fork out for food and fun which will bite into my account a bit but that just means i'll have to get a part time job when I'm back at Uni. No biggie.

The girl that had her first day at my branch yesterday and has borrowed money to come here and pay off student loans, is going to be right up shit creek though.
"Do you know how a falcon is trained, my dear? Her eyes are sewn shut. Blinded temporarily, she suffers the whims of her God patiently, until her will is submerged and she learns to serve - as your God taught and blinded you with crosses."

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Unread post by SamhainP8 » Sun Jul 29, 2007 12:40 pm

Interesting post from Ponypot that I hadn't even thought of before:
PereUbu wrote: Its probably correct that final salaries will not be paid... But if the company goes under there are two protections - others may know more about this, but the following is my general understanding..

- the unemployment benefits (from the premiums you pay now) will be available immediatley - as in you apply at the local Hello Work office (search threads on how to do this) . Roughly speaking, 60% of the average of your last 3 months salary, to a max of 240,000 (actually 8k a day). But you have to have paid in for 6 months I believe.

- in the event of a declaration of bankruptcy, lost wages are covered also by a Govt fund - the liquidators control this. Not sure about bonuses tho.. it also takes some time - months perhaps
Anyone know more about this?
"Do you know how a falcon is trained, my dear? Her eyes are sewn shut. Blinded temporarily, she suffers the whims of her God patiently, until her will is submerged and she learns to serve - as your God taught and blinded you with crosses."

allblacks

Unread post by allblacks » Sun Jul 29, 2007 1:13 pm

SamhainP8 wrote:Interesting post from Ponypot that I hadn't even thought of before:
PereUbu wrote: Its probably correct that final salaries will not be paid... But if the company goes under there are two protections - others may know more about this, but the following is my general understanding..

- the unemployment benefits (from the premiums you pay now) will be available immediatley - as in you apply at the local Hello Work office (search threads on how to do this) . Roughly speaking, 60% of the average of your last 3 months salary, to a max of 240,000 (actually 8k a day). But you have to have paid in for 6 months I believe.

- in the event of a declaration of bankruptcy, lost wages are covered also by a Govt fund - the liquidators control this. Not sure about bonuses tho.. it also takes some time - months perhaps
Anyone know more about this?
I reckon the first thing about unemployment benefits is true. Having worked for a company: Horizon English school in Shinsaibashi in 1999 I had this very experience. Three months of unemployment insurance. Had a lovely holiday in NZ.

Second part: never heard of it. Are things different at Nova? THAT different? Does the govt really give a shit about a bunch of whining Eigo no sensei? Hmmm.

Oh yeah and Panic: Sorry about my comments. Bad day yesterday. No excuses. I apologize.

allblacks

Unread post by allblacks » Sun Jul 29, 2007 10:07 pm

Its cool. Welcome to LJ.

ABs

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Unread post by Ziggy » Sun Jul 29, 2007 11:13 pm

I haven't posted here in ages. Why? I've got my reasons. People thinking I'm somebody I'm not is not one of them, there are others. (If you really want to know why I stopped posting send me a PM) But this thread makes me feel compelled to say something. First of all PI's post is accurate and sums it all up. Secondly as most of you know I'm not a fan of Nova. Nova's management is based of hypocrisy, cowardice and blame throwing. Never once have I seen Nova management take responsibility for its doings and always blamed the teacher. Teacher vs. student = teachers fault, teacher vs. titled teacher = teachers fault, teacher vs. staff = teachers fault, teacher vs. AAM = teachers fault etc... But now it looks like there is no choice but for things to change and management to finally accept some responsibility instead of scapegoating it.

Having said that I should say I'm somewhat in the loop and from what I've been told is the following. Now I cannot 100% verify any of the below but at the same time it's up to you (as always) to decide what you choose to believe that's written here on LJ or not. Granted no major news flashes but here goes....

1) When teachers weren't paid at midnight on June 15th it was because they were still waiting for the days takings to clear.

2) All advertising in Tokyo has been pulled.

3) The next three weeks may be it for Nova.

4) Many top people at Nova have quit in the last few months.

5) Nova's official excuse for the late pay for staff was a "technical glitch".

Is Nova done for? The next 3 weeks to 3 months will tell us all.

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Unread post by HungFarLow » Mon Jul 30, 2007 1:01 am

Have yall heard that HIS travel is talking about bailing out NOVA?

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Unread post by SamhainP8 » Mon Jul 30, 2007 1:26 am

HungFarLow wrote:Have yall heard that HIS travel is talking about bailing out NOVA?
That was in the paper weeks ago but seems to have sprung from a casual conversation. I don't think there's much to read into it beyond a casual "what if" conversation.
"Do you know how a falcon is trained, my dear? Her eyes are sewn shut. Blinded temporarily, she suffers the whims of her God patiently, until her will is submerged and she learns to serve - as your God taught and blinded you with crosses."

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Unread post by Keleidoscope » Mon Jul 30, 2007 2:41 am

Ziggy wrote: 2) All advertising in Tokyo has been pulled.
We haven't gotten any more tissues!

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Unread post by Bobo » Mon Jul 30, 2007 9:23 am

Ziggy wrote: 2) All advertising in Tokyo has been pulled. .
It seems Nova is no longer advertising anywhere in the entire country; not just Tokyo.
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allblacks

Unread post by allblacks » Mon Jul 30, 2007 9:35 am

This thread if really great fun.

The only ads I have seen are in front of the branches themselves. "We'll give you super discounts..."

For me it sucks cos many of my friends still go to Nova for McEnglish. I dont wanna see them get burned just because they are keen to add English to their skill list. Anyone else got friends signed up at Nova?


ABs

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Unread post by Ziggy » Mon Jul 30, 2007 10:46 am

Bobo wrote:
Ziggy wrote: 2) All advertising in Tokyo has been pulled. .
It seems Nova is no longer advertising anywhere in the entire country; not just Tokyo.

Yeah, maybe I've just not noticed it.
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So little is thy gain!

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Unread post by MrX » Mon Jul 30, 2007 11:26 am

Ziggy wrote:3) The next three weeks may be it for Nova.

Is Nova done for? The next 3 weeks to 3 months will tell us all.
I think that's a fair assessment, from the way the share prices have been plunging (69JPY, last time I checked). That, I think, stems a lot from the fact that Nova's had these fundamental problems for ages and nothing has been done about them. In fact, they continue to come up with crap like "Summer Campus" as if nothing is wrong at all, when all this does is take even more lessons off the daily schedule and make it even harder for regular students to use their points. It all kind of reminds me of Adolf Hitler, sitting in his bunker in the last days of the Third Reich giving orders to Panzer divisions that didn't exist. I think the Nova executives are that deluded.

P.S. Where are some of those Nova apologists when you need them? Someone like Reverend D would really liven up this thread just now.
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Unread post by SamhainP8 » Mon Jul 30, 2007 1:35 pm

hiniku3 wrote:
MrX wrote:
Ziggy wrote:3) In fact, they continue to come up with crap like "Summer Campus" as if nothing is wrong at all, when all this does is take even more lessons off the daily schedule and make it even harder for regular students to use their points. It all kind of reminds me of Adolf Hitler, sitting in his bunker in the last days of the Third Reich giving orders to Panzer divisions that didn't exist. I think the Nova executives are that deluded.

.
What is Summer Campus. I heard that few months ago they tried to set up a coffee shop thing for people over 60. Talk english and drink tea ..

What does summer campus entail?
Handing over money in your summer break.
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Unread post by Sankyuberymucho » Mon Jul 30, 2007 6:22 pm

Excellent summary PanicInducingGaijin.

The Eikaiwa industry has always seemed something of a joke to me. The industry doesn't have many barriers to entry, the product isn't rocket science, if you hire some decent staff, treat students and staff professionally, run your business according to the fundamentals of good management (that any mediocre business school graduate should have mastered), and it isn't that difficult to make a decent return.

Unfortunately a sizeable proportion of the Eikaiwas and dispatch companies are run by complete morons, who hire sycophants for upper management, and treat their teachers and students like crap.

Will NOVA survive, I hope not, but I don't know enough about their balance sheet and cash flows to make a definite prediction. However I strongly doubt it.

Under their business model, not advertising at this time makes sense. Why advertise if you can't sign up people for your most lucrative product (3 years). Better to save your money, hope you make it to when the government's ban expires, and then saturate the market with advertising.
The only question is can NOVA stay afloat until that point?

One thing is certain though, when NOVA collapses, shockwaves will be felt throughout the english teaching industry. Will things improve, I hope so, but my gut tells me that the any new Eikaiwa that spring up will be just as bad.

Regarding HIS, I heard they were considering a business tie-up with NOVA, but that was before a lot of shit hit the fan. I doubt anyone would touch NOVA with a ten foot pole now.

Interesting post Ziggy, if I recall from your previous postings you are something of a NOVA insider...

If NOVA only has enough cash to pay teachers if the takings for that day have cleared, that is pretty worrying for teachers that work there... It implies NOVA is really short on cash and is close to collapse.

Well I'm glad I'm not a NOVA teacher at this time, it must be pretty stressful.

Most of the biggest rats at NOVA HQ seem to have been leaving over the past year. Notably Edo "Fat Fuck" Fackler or whatever his name is.

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Unread post by Ziggy » Mon Jul 30, 2007 8:35 pm

HungFarLow wrote:Have yall heard that HIS travel is talking about bailing out NOVA?
Rumor control tells me that Mr. Monkeybridge or whatever his name is now is not going to take the bailout because he'll be out of the Nova's drivers seat.
So little is our loss,
So little is thy gain!

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Unread post by Examination_Hell » Mon Jul 30, 2007 9:40 pm

Ziggy wrote:Rumor control tells me that Mr. Monkeybridge or whatever his name is now is not going to take the bailout because he'll be out of the Nova's drivers seat.
Monkeybridge has gone on record saying that if he were not in control of NOba then the company "would collapse."
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Unread post by Examination_Hell » Mon Jul 30, 2007 9:45 pm

MrX wrote:come up with crap like "Summer Campus" as if nothing is wrong at all, when all this does is take even more lessons off the daily schedule and make it even harder for regular students to use their points.
It could be argued that students using up their points isn't gonna give NOba a ca$h injection as any money these students had is long gone. NOva needs to attract more people and therefore get more money.

What better way to do this than focus on the "older generation", people who probably don't use the 'net that much (if at all) and know next to nothing about what goes/is going on at nova.
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Unread post by Examination_Hell » Mon Jul 30, 2007 9:48 pm

Bobo wrote:It seems Nova is no longer advertising anywhere in the entire country; not just Tokyo.
I wonder if that also includes not lighting up those big fukking neon signs every night that sit on top of whatever building nova happens to be running classes from? Surely that's gotta cost a fair bit to in electricity.
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Unread post by Ziggy » Mon Jul 30, 2007 9:56 pm

Examination_Hell wrote:
Bobo wrote:It seems Nova is no longer advertising anywhere in the entire country; not just Tokyo.
I wonder if that also includes not lighting up those big fukking neon signs every night that sit on top of whatever building nova happens to be running classes from? Surely that's gotta cost a fair bit to in electricity.
Probably owned and paid for unlike tv space or a corner in the subway train.
So little is our loss,
So little is thy gain!

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