dont writeoff abc yet

Their Australian centres are still veritable cash cows making av. $180,000 per centre (they have over 1000 centres). And their growth strategy is not yet dead. For example they were looking at expanding into Singapore some time last year. This is an excellent market. They have some clout with a) the Singaporean government being the largest shareholder b) the fact that Singaporeans in general hold a good education in much higher regard than they do here and c) it's still a fragmented market. ABC shares might not turn out too badly in the long term.