Global Education Communities Corp T.GEC

WORTHLESS

[parahyangam]

GEC never had the in house assets or income to finance the real estate required to support its claimed net rental income.

After debt, limited partnerships and operating costs, thousands of beds were required to generate the huge net rental income on GEC's financial statements. This 'real estatee' would have constituted a behemoth in the student rental industry, which in fact does not exist anywhere outside large financial institutions such as pension funds.

Most of GEC's education services are in entry level occupations such as in the hospitality industry, nurse's aides, etc. Most of those students had day time jobs and lived in existing housing. Many of GEC's 'schools' lie outside the Vancouver area and thus operations are substantially decentralized which in part explains their high costs.

It has been years of flat line performance with the vaunted and promised growth never materializing. Strip out the rental income and the 'capture' of real estate appreciation and you have nothing.

[Staghorn69]

Company isn't even trying anymore with the vaunted Buyback Program.... and inside buying has dried up. gee soon the top shareholders will just take the company private... convenient eh.. that the price has shaved in half.  Crappy management and bogus projections aside, anyone who's managed a real estate company in Vancouver and achieved THESE results the past 5 years should take a

[parahyangam]

https://www.facebook.com/JimCarreyFansClub/videos/the-mask-1994-thats-a-spicy-meatball-scene/336758247472410/

[Staghorn69]

Another great week MBA management!!  To go along with a great 6 months... why stop being incompetent now....  oh that's right, it's summer, we can't do much promo....  and your salary is what??

[blhawk]

Nice post parah,"strip out the rental income, and realestate appreciation you would have nothing"  i guess if McDoanlds had no beef they wouldn't have nothing either? Keep up the good posts

[parahyangam]

Given that 8 - 9% annual returns on student housing portfolios is considered the industry average, where are the thousands of beds "owned" by GEC? GEC has been in business for at least 30 yrs. and has a thin operating margin on its non-real estate assets. Small time stuff. Bush league.  GEC has promised grandiose projects for years which have NOT materialized. Now we are to

[Staghorn69]

The big question is WHAT IS MANAGEMENT DOING FOR SHAREHOLDERS???  Failure.  Aren't even using the buyback, their only answer.  Do something!!!  Spin-offs?  REIT??  You are NOT even trying.  Unreal.

[Staghorn69]

Wow what an update GEC management team... now we are subletting space....  sounds like I will be rich soon.  LOL.  Hey just FYI it's September....  the "summer news quiet period" is over if THAT is why you haven't done anything constructive in months.  How about a news release about management salary cuts? 

[bluebird123]

Would anyone know what happened to the GEC's master lease for the Kingsway Student Apts in Vancouver? I haven't heard a word for quite a while

[bluebird123]

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