GEOS North America Sold to Open Hearts International College

Shawn: Please also know that the specualtion about OpenHearts.com deal being dead is right on the money. It is. Hence why some posters are on here criticizing everyone; they do not like that the deal is dead and they blame everyone on her, as ridiculuous as that is.

Look for it within two months, maybe more. Everyone at the head office is banking on hanging in for the "glorious" summer season. We will see.

This site definitely contributed to the death of Open Hearts-GEOS. Certain posters can rejoice, because their efforts worked. However, it also came down to an unethically, sometimes illegally-driven business with a particular hated boss at the helm that really killed the deal. That and the GEOS business model, if you can call it that, is quite dead.

My professional thoughts have also been focussed on La Costa and Calgary. Why run two centres so close in California. The Calgary location is student untenable for most of the winter. Makes commercial good sense to move away from those sites. And don't be so sure OH is out of the purchase loop. Every winter month, and there are a few to go in Canada, puts pressure on the enterprise's potential worth as a sale. The company has so many contingencies in the shape of lease agreements (sensibly underpinned by guarantees to the landlords, one would hope) that a foreseeable possibility is of the current owners walking away in return for the contingent lianilities being underwritten by an incoming owner.
In the event of this happening, it would be hoped that the new owners would establish a compent management regime for the GEOS rump. The whole problem worldwide with the outfit goes back to an overly dominat owner operating a corporate as a fiefdom. This model. and unfortunately it is common in business, only serves to encourages sycophantic lower management to persist in their roles long beyond personal use-by-dates
Anyway, lets see how it all goes during this Winter Retreat........

I see one of the LA schools next to shut down. Just makes sense, but then again, GEOS and its Regional Director usually do not make sense. Otherwise they would not be bankrupt and bleeding cash, as well as shutting down schools like GEOS Honolulu.

I honestly think it is time GEOS (or Open Hearts if they buy them) replaced their Regional Director. He hasn't done much other then sit and watch the ship sink, as well as create bitter employees and shame the industry. A new captain is needed.

Actually, 8:26, you might want to check a couple of the posts above. Still on here, Uri. Deal with it (and your bs-ed resume).

So since there is no Open Hearts deal and Uri and company won't admit to Honolulu's failure, what is next?

I also agree with the poster who called for a Regional Director change. Long overdue, although then the current one would be on here all day whining and complaining.

Why is Calgary still in operation? enquired @1.48. I'm buggered if I know, my friend. We have a pretty good idea (thanks for the leaked financial info, Niall) that these GEOS college sites are, at best, operating with a profitability hovering around 10% when incomings and outgoings are addressed. That's too slim a margin to encourage a sensible investor to risk capital in a purchase. It's way too slim to allow a purchaser to do so on borrowed capital. Further, if we look at growth potential in regard to these colleges, there's nothing there. Brand is compromised, industry sector is in recession, and the actual demand for the product (unless linked to immigration goals) is diminishing as customer tastes and interests shift. Compounding the issue is the sesaonal nature of the business and the impact that has on operations/income. Basically the colleges are in a walking wounded category and some of the walking wounded may never make it home thru the snow and slush of Winter......