Ann: Vocation response to speculation, page-3

Yup. Vocation is a complex amalgam of several training providers, each of which is involved in delivering training in an extremely complex - and in my view deeply flawed - regulatory environment.

My belief is that senior management does NOT understand the detail and has underestimated the potential risk. As a fairly senior manager in a large training provider I see a lot of evidence of this - in my own organisation and in others with which I have professional contact.

I share are the concerns many have regarding the competency of the mgt in Vocation, but I think the problem is compounded by wildly incompetent and constantly changing vocational education policy at national and State level. In theory we have a "national training system." In practice we have a hopeless mess of poorly thought through and highly wasteful funding arrangements at State level, with each State different. We have national quality regulation through ASQA, but each State is also doing it's own.

We have national Training PAckages and qualifications, but increasing dissatisfaction with them from employers. We also have increasing confusion in national policy, and increasing confusion in the Vocational Ed/Higher Ed interface

all of which makes investment in a company like VET inherently high risk.

Good luck to all holders. I'm not saying "don't buy." I am saying "high risk" - even at this SP level.

cheers

Dave