SUM - Summerset Group

[couta1]

be interesting whats come out in the royal commission. if the banking and insurance one is anything to go by there will be some very sad tales.

did you relise over the last yr in aus 1 service provider per week is being closed down due to non compliance and abuses in failures of care.

The level of compliance and care are of a higher standard here in NZ.PS-Did you realise that many service providers in NZ have shut up shop over the last year due to the pay equity settlement and a shortfall of funding from the Govt, the Govt would need to tread carefully in making any changes to avoid shooting themselves in the foot.

[peat]

quite frankly I dont take much stock of Motley Fool.
I took an interest for a while but they seem to have a habit of recommending just before a drop and getting out at the bottom. See their RFG history.

[bull....]

aged care and dementia units are the staff to resident ratios any better in nz to aus? the royal commission may mean aus operators are required to have a set ratio without any extra funding. the govt does not care about profits being hit as they now see it as a social responsibility to provide care.

[Snow Leopard]

The level of compliance and care are of a higher standard here in NZ.PS-Did you realise that many service providers in NZ have shut up shop over the last year due to the pay equity settlement and a shortfall of funding from the Govt, the Govt would need to tread carefully in making any changes to avoid shooting themselves in the foot.

Evidence points to this government being crack shots when it comes to self-inflicting wounds to the lower extremities.

[dabsman]

Evidence points to this government being crack shots when it comes to self-inflicting wounds to the lower extremities.

Evidence points to this this government being on crack...

[Beagle]

I for one am more than happy to take Couta1 and his wife's decades of experience in the aged care sector and comments on the differences between aged care standards in Aust and N.Z. at face value rather than some silly Motley Fool or other person of unknown, if any, experience hiding behind a pseudonym acting like a bear.
This hound knows Mr and Mrs Couta1 are people of integrity and very good character.

Further, at the recent SUM annual meeting SUM directors opinioned that their product offer was very different to that currently available in Australia.

[Ggcc]

I for one am more than happy to take Couta1 and his wife's decades of experience in the aged care sector and comments on the differences between aged care standards in Aust and N.Z. at face value rather than some silly Motley Fool or other person of unknown, if any, experience hiding behind a pseudonym acting like a bear.
This hound knows Mr and Mrs Couta1 are people of integrity and very good character.

I too have always appreciated Couta’s input with any questions I have had in the past and of course you as well beagle

[bull....]

I for one am more than happy to take Couta1 and his wife's decades of experience in the aged care sector and comments on the differences between aged care standards in Aust and N.Z. at face value rather than some silly Motley Fool or other person of unknown, if any, experience hiding behind a pseudonym acting like a bear.
This hound knows Mr and Mrs Couta1 are people of integrity and very good character.

Further, at the recent SUM annual meeting SUM directors opinioned that their product offer was very different to that currently available in Australia.

no bears on here , by the way it comes down to weather you view aged care ( not retirement village) as an ethical model when its for profit.

[couta1]

no bears on here , by the way it comes down to weather you view aged care ( not retirement village) as an ethical model when its for profit.

If the facility can't keep the wages to revenue ratio within certain boundaries there is no profit hence why many not for profits have shut up shop, retirement village operators subsidise their care operations with profits from unit sales when necessary.

[Beagle]

If the facility can't keep the wages to revenue ratio within certain boundaries there is no profit hence why many not for profits have shut up shop, retirement village operators subsidise their care operations with profits from unit sales when necessary.

What Couta1 said Bull is bang on the money. SUM financial statements have shown consistently year after year they ostensibly make nothing from the operation of their villages and all the money comes from the development and resale of units. Even if some companies like OCA who have arguably the very best late stage care standards in the industry do make reasonable money I have no issue whatsoever with that in fact I see the opportunity to support a business which provides the very best care standards in N.Z. to our vulnerable elderly citizens as highly ethical and a real feel good investment. There will never been enough of the likes of Presbyterian support services not for profit service providers for everyone..in a perfect world there would be but until heaven arrives we have wonderful companies like OCA looking after our elderly and SUM others trying very hard to lift their care service standards too.