Childcare operator's major shareholder seeks details as share slide continues
On Friday, a day after shareholder advisers raised the prospect of clawing back some of G8 CEO's Pejman Okhovat's pay, the union representing workers in the for-profit sector also spoke out, questioning if CEO bonuses and company profits should instead be invested into child safety.
A G8 spokesperson told this masthead that chief executive Pejman Okhovat and chief operating officer Shane Dann have been on the ground in Melbourne meeting with some of the affected families.
'As we learn more about what is unfolding, we are fully co-operating with Victorian police, the Victorian government and other relevant authorities as part of the investigation,' the spokesperson said.
'We are committed to supporting the legal process in every way we can.'
Loading
Almost $170 million has been wiped off the value of G8 Education since the sexual abuse allegations surfaced on Tuesday. G8's share price dropped another four per cent on Friday to 96¢, dipping below the dollar mark for the first time this year.
On Friday, Tanarra Capital, founded by investment banking heavyweight John Wylie and one of G8's largest investors, became the latest to sharpen their scrutiny of the company. Tanarra has close to a 12 per cent stake in G8, according to the childcare provider's most recent annual report.
'Like the rest of the community we have been shocked and distressed at what has unfolded,' a spokesperson told this masthead.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
7NEWS
3 hours ago
- 7NEWS
Melbourne synagogue torched by arsonist and Israeli restaurant stormed by protesters
Horror scenes have played out in two separate antisemitic attacks in Melbourne overnight, which saw a synagogue torched by an arsonist and a Jewish restaurant stormed by 20 masked protesters in the city's CBD. In terrifying scenes, the restaurant Minzon in Hardware Lane was targeted by masked pro-Palestinian protesters, who raged through the venue Friday night, about 8.30pm. The mob reportedly chanted 'death to the IDF (Israeli Defence Force)' as they picked-up chairs and food, launching it at the restaurant windows during the attack. A window was smashed in the chaos. Victorian police quickly responded to the attack, arresting a number of the protesters. In a separate incident on Friday, Melbourne police are probing a fire at an East Melbourne synagogue, which occurred at 8pm. A man is believed to have entered the grounds from the synagogue on Albert Street, where he poured a flammable liquid on the front door and set it alight. There were approximately 20 people in the synagogue at the time of the attack. The man left on foot, fleeing west on Albert Street. Everyone inside the synagogue managed to exit to the rear of the building. There are no reports of injuries. 'Police are engaging with people from the synagogue and other representatives from the Jewish community to ensure appropriate supports are in place,' a Victoria Police spokesperson said. 'Police are still working to establish the exact circumstances surrounding the fire including the motivation behind the incident. 'There is absolutely no place in our society for anti-Semitic or hate-based behaviour.' Anyone who witnessed the arson attempt on the synagogue and has CCTV, dashcam footage or any other information that could assist police is urged to contact Crime Stoppers on 1800 333 000.
The Advertiser
4 hours ago
- The Advertiser
It is shameful governments waited so long to roll out childcare safety measures
Australians have rightly been outraged and dismayed this week following shocking revelations about babies and toddlers allegedly being sexually abused in childcare centres in Melbourne. In response, we have heard ministers in the Australian and Victorian governments commit to implementing some long-delayed measures that had been recommended by various royal commissions and inquiries of the past. While this is a positive outcome, there is much more to do to build safer childcare in this country. Those royal commissions and inquiries have told us what is needed to keep children safe. Many of us are now asking why it has taken so long for governments across the federation to act on serious child safeguarding gaps? The risks to child safety have been known for decades, and the evidence-based recommendations have been sitting on a shelf. Over the last few years, we have been collectively horrified by the notorious case of Ashley Griffith who abused children in childcare centres in Queensland and NSW. And now we have these terrible allegations coming out of Melbourne. How did we end up in this place where governments knew what to do to help fix the problems and keep our children safe, but did not act? To answer these questions, it is necessary to understand that the federation structure splits responsibilities across different levels of government, and that there is no one accountable for child safety and wellbeing in the Australian government. In contrast, we have had ministers for women for decades, and "women and women's safety" is listed as a key priority for national cabinet, which is where the prime minister and state and territory leaders work together on "issues of national significance". The complete absence of visibility and accountability for child safety and wellbeing at the national level has allowed the risks to remain unaddressed and the solutions not implemented. This is despite endless media exposés and tragic stories of abuse of children. We cannot allow the federation to be an excuse for not acting urgently on the safety and wellbeing of our children. The latest scandal is taking place in childcare centres, but this is not just an issue for the early childhood education and care sector. The failure to prioritise child safety and wellbeing and implement child safeguarding measures affects all children everywhere: in schools, after-school care, out-of-home care, youth detention, sporting clubs and holiday programs. Anywhere you find children, there will be child safety risks that must be addressed. Former royal commissioner Robert Fitzgerald said this week that it was "shameful" that we have failed to implement the detailed recommendations to strengthen child safety from a decade ago. He is correct, and now we need to face up to why this has been allowed to happen. It is shameful that the advice of experts continues to be ignored and the risks to the safety and wellbeing of our children are neglected. We don't need more royal commissions and inquiries. We know what to do. Core recommendations in our Help Way Earlier! report tabled in Parliament last year were about governments across our federation working together on reform and making child wellbeing a national priority, at national cabinet. READ MORE: Right now, there is an absence of national leadership and co-ordination. Child wellbeing is not a priority for national cabinet, and there is no cabinet minister for children. These gaps have allowed a lack of accountability to persist, leading to critical reforms not being implemented. For our youngest children, we need a childcare industry with stronger regulation, independent monitoring and oversight, and comprehensive enforceable child safeguarding measures. Everyone involved needs to make child safety their number one priority, from the boardroom to the sandpit. This week has shown that the public wants more than just cheaper childcare. We demand safer childcare. And importantly, our children, our youngest citizens, must not be sidelined and kept waiting for critical reforms that we know will help to keep them safe. The new term of Parliament is the opportunity to demonstrate to the Australian public that child safety and wellbeing will be a national priority from now on. Australians have rightly been outraged and dismayed this week following shocking revelations about babies and toddlers allegedly being sexually abused in childcare centres in Melbourne. In response, we have heard ministers in the Australian and Victorian governments commit to implementing some long-delayed measures that had been recommended by various royal commissions and inquiries of the past. While this is a positive outcome, there is much more to do to build safer childcare in this country. Those royal commissions and inquiries have told us what is needed to keep children safe. Many of us are now asking why it has taken so long for governments across the federation to act on serious child safeguarding gaps? The risks to child safety have been known for decades, and the evidence-based recommendations have been sitting on a shelf. Over the last few years, we have been collectively horrified by the notorious case of Ashley Griffith who abused children in childcare centres in Queensland and NSW. And now we have these terrible allegations coming out of Melbourne. How did we end up in this place where governments knew what to do to help fix the problems and keep our children safe, but did not act? To answer these questions, it is necessary to understand that the federation structure splits responsibilities across different levels of government, and that there is no one accountable for child safety and wellbeing in the Australian government. In contrast, we have had ministers for women for decades, and "women and women's safety" is listed as a key priority for national cabinet, which is where the prime minister and state and territory leaders work together on "issues of national significance". The complete absence of visibility and accountability for child safety and wellbeing at the national level has allowed the risks to remain unaddressed and the solutions not implemented. This is despite endless media exposés and tragic stories of abuse of children. We cannot allow the federation to be an excuse for not acting urgently on the safety and wellbeing of our children. The latest scandal is taking place in childcare centres, but this is not just an issue for the early childhood education and care sector. The failure to prioritise child safety and wellbeing and implement child safeguarding measures affects all children everywhere: in schools, after-school care, out-of-home care, youth detention, sporting clubs and holiday programs. Anywhere you find children, there will be child safety risks that must be addressed. Former royal commissioner Robert Fitzgerald said this week that it was "shameful" that we have failed to implement the detailed recommendations to strengthen child safety from a decade ago. He is correct, and now we need to face up to why this has been allowed to happen. It is shameful that the advice of experts continues to be ignored and the risks to the safety and wellbeing of our children are neglected. We don't need more royal commissions and inquiries. We know what to do. Core recommendations in our Help Way Earlier! report tabled in Parliament last year were about governments across our federation working together on reform and making child wellbeing a national priority, at national cabinet. READ MORE: Right now, there is an absence of national leadership and co-ordination. Child wellbeing is not a priority for national cabinet, and there is no cabinet minister for children. These gaps have allowed a lack of accountability to persist, leading to critical reforms not being implemented. For our youngest children, we need a childcare industry with stronger regulation, independent monitoring and oversight, and comprehensive enforceable child safeguarding measures. Everyone involved needs to make child safety their number one priority, from the boardroom to the sandpit. This week has shown that the public wants more than just cheaper childcare. We demand safer childcare. And importantly, our children, our youngest citizens, must not be sidelined and kept waiting for critical reforms that we know will help to keep them safe. The new term of Parliament is the opportunity to demonstrate to the Australian public that child safety and wellbeing will be a national priority from now on. Australians have rightly been outraged and dismayed this week following shocking revelations about babies and toddlers allegedly being sexually abused in childcare centres in Melbourne. In response, we have heard ministers in the Australian and Victorian governments commit to implementing some long-delayed measures that had been recommended by various royal commissions and inquiries of the past. While this is a positive outcome, there is much more to do to build safer childcare in this country. Those royal commissions and inquiries have told us what is needed to keep children safe. Many of us are now asking why it has taken so long for governments across the federation to act on serious child safeguarding gaps? The risks to child safety have been known for decades, and the evidence-based recommendations have been sitting on a shelf. Over the last few years, we have been collectively horrified by the notorious case of Ashley Griffith who abused children in childcare centres in Queensland and NSW. And now we have these terrible allegations coming out of Melbourne. How did we end up in this place where governments knew what to do to help fix the problems and keep our children safe, but did not act? To answer these questions, it is necessary to understand that the federation structure splits responsibilities across different levels of government, and that there is no one accountable for child safety and wellbeing in the Australian government. In contrast, we have had ministers for women for decades, and "women and women's safety" is listed as a key priority for national cabinet, which is where the prime minister and state and territory leaders work together on "issues of national significance". The complete absence of visibility and accountability for child safety and wellbeing at the national level has allowed the risks to remain unaddressed and the solutions not implemented. This is despite endless media exposés and tragic stories of abuse of children. We cannot allow the federation to be an excuse for not acting urgently on the safety and wellbeing of our children. The latest scandal is taking place in childcare centres, but this is not just an issue for the early childhood education and care sector. The failure to prioritise child safety and wellbeing and implement child safeguarding measures affects all children everywhere: in schools, after-school care, out-of-home care, youth detention, sporting clubs and holiday programs. Anywhere you find children, there will be child safety risks that must be addressed. Former royal commissioner Robert Fitzgerald said this week that it was "shameful" that we have failed to implement the detailed recommendations to strengthen child safety from a decade ago. He is correct, and now we need to face up to why this has been allowed to happen. It is shameful that the advice of experts continues to be ignored and the risks to the safety and wellbeing of our children are neglected. We don't need more royal commissions and inquiries. We know what to do. Core recommendations in our Help Way Earlier! report tabled in Parliament last year were about governments across our federation working together on reform and making child wellbeing a national priority, at national cabinet. READ MORE: Right now, there is an absence of national leadership and co-ordination. Child wellbeing is not a priority for national cabinet, and there is no cabinet minister for children. These gaps have allowed a lack of accountability to persist, leading to critical reforms not being implemented. For our youngest children, we need a childcare industry with stronger regulation, independent monitoring and oversight, and comprehensive enforceable child safeguarding measures. Everyone involved needs to make child safety their number one priority, from the boardroom to the sandpit. This week has shown that the public wants more than just cheaper childcare. We demand safer childcare. And importantly, our children, our youngest citizens, must not be sidelined and kept waiting for critical reforms that we know will help to keep them safe. The new term of Parliament is the opportunity to demonstrate to the Australian public that child safety and wellbeing will be a national priority from now on. Australians have rightly been outraged and dismayed this week following shocking revelations about babies and toddlers allegedly being sexually abused in childcare centres in Melbourne. In response, we have heard ministers in the Australian and Victorian governments commit to implementing some long-delayed measures that had been recommended by various royal commissions and inquiries of the past. While this is a positive outcome, there is much more to do to build safer childcare in this country. Those royal commissions and inquiries have told us what is needed to keep children safe. Many of us are now asking why it has taken so long for governments across the federation to act on serious child safeguarding gaps? The risks to child safety have been known for decades, and the evidence-based recommendations have been sitting on a shelf. Over the last few years, we have been collectively horrified by the notorious case of Ashley Griffith who abused children in childcare centres in Queensland and NSW. And now we have these terrible allegations coming out of Melbourne. How did we end up in this place where governments knew what to do to help fix the problems and keep our children safe, but did not act? To answer these questions, it is necessary to understand that the federation structure splits responsibilities across different levels of government, and that there is no one accountable for child safety and wellbeing in the Australian government. In contrast, we have had ministers for women for decades, and "women and women's safety" is listed as a key priority for national cabinet, which is where the prime minister and state and territory leaders work together on "issues of national significance". The complete absence of visibility and accountability for child safety and wellbeing at the national level has allowed the risks to remain unaddressed and the solutions not implemented. This is despite endless media exposés and tragic stories of abuse of children. We cannot allow the federation to be an excuse for not acting urgently on the safety and wellbeing of our children. The latest scandal is taking place in childcare centres, but this is not just an issue for the early childhood education and care sector. The failure to prioritise child safety and wellbeing and implement child safeguarding measures affects all children everywhere: in schools, after-school care, out-of-home care, youth detention, sporting clubs and holiday programs. Anywhere you find children, there will be child safety risks that must be addressed. Former royal commissioner Robert Fitzgerald said this week that it was "shameful" that we have failed to implement the detailed recommendations to strengthen child safety from a decade ago. He is correct, and now we need to face up to why this has been allowed to happen. It is shameful that the advice of experts continues to be ignored and the risks to the safety and wellbeing of our children are neglected. We don't need more royal commissions and inquiries. We know what to do. Core recommendations in our Help Way Earlier! report tabled in Parliament last year were about governments across our federation working together on reform and making child wellbeing a national priority, at national cabinet. READ MORE: Right now, there is an absence of national leadership and co-ordination. Child wellbeing is not a priority for national cabinet, and there is no cabinet minister for children. These gaps have allowed a lack of accountability to persist, leading to critical reforms not being implemented. For our youngest children, we need a childcare industry with stronger regulation, independent monitoring and oversight, and comprehensive enforceable child safeguarding measures. Everyone involved needs to make child safety their number one priority, from the boardroom to the sandpit. This week has shown that the public wants more than just cheaper childcare. We demand safer childcare. And importantly, our children, our youngest citizens, must not be sidelined and kept waiting for critical reforms that we know will help to keep them safe. The new term of Parliament is the opportunity to demonstrate to the Australian public that child safety and wellbeing will be a national priority from now on.
The Age
10 hours ago
- The Age
Australia property: Sea-change towns where home sellers made the most money
Lawless said the pandemic, lockdowns and the shift to working from home drove the rapid change in these markets because office workers in cities chose to move to lifestyle locations once they were no longer required to go into work to do their jobs. The shift delivered a huge windfall for long-time owners, but created a new affordability crisis for locals yet to buy a home, he said. Loading 'Without a doubt, there's been a huge amount of wealth creation for home owners who have been fortunate enough to own a house in these markets,' he said. 'But if you're looking to get into these markets, affordability has become a real challenge.' Watts Property Group principal Adam Watts said Noosa's market was no longer booming, but had stabilised post-lockdowns because the area's high prices attracted well-off buyers who had more flexibility to work from home. 'It's better than a normal market. For myself, we're still getting strong inquiry and turning over properties,' he said. 'People are a little bit more frugal with their money, and they want to know they're paying the right price.' Watts said sought-after pockets in popular suburbs had enjoyed the biggest growth in profits. Byron Bay Real Estate agent Peter Yopp said his area had taken a hit in the return-to-work slowdown. 'We're seeing a mixture at the moment. There were a lot of high prices paid during COVID, and people have left to go back where they've come from. The market's just not there any more,' he said. 'That feels like a decade ago now. We've gone to the moon and come back. We've been through the ringer and a lot of people are still very transient.' Efforts to reduce the number of holiday rentals in central Byron had also cut back demand, Yopp said, which had made it harder for some vendors to sell. 'There's definitely not too many making profits at the moment. The only ones who made the really good [profits] are the ones who held for a while or bought in early COVID,' he said. 'The top end is doing really well; you can pretty much name your price. But the mum and dad stuff … anything below $2 million is doing well, but anything above $2 million or needs some work is not doing well.' Loading In the Victorian alpine region, the market was buoyed by the rigid stock levels in skiing locations but had seen a fall-off in demand after COVID-era restrictions ended, Zirky Real Estate director Christina Smit said. Bright, a town at the foot of the region's mountains, had been developed further following the pandemic tree-change trend, she said. 'There's limited stock numbers in alpine resorts … it's not like it was in Bright.' Smit said greater flexibility to work from home won during lockdowns had permanently boosted demand in the mountain region, as well as a growing reputation as a summer holiday destination. Long-time residents profited the most from the tree-change boom. 'If they've held for a long time, then yes. They would have seen large growth with the COVID pricing. That growth has held pretty stable now, but we're not seeing that influx in pricing at the moment,' Smit said.
