Calls for action on retirement villages grow louder
Surely, launching an inquiry into the sector isn't that hard.
Adele Ferguson comments on companies, markets and the economy.
Surely, launching an inquiry into the sector isn't that hard.
"My mother has less freedom now than she ever had."
Embattled retirement village giant Aveo has been forced to effectively refund residents at two villages after an outcry about its decision to transition the villages to its new, expensive Freedom Aged Care program.
With three months until ASIC chairman Greg Medcraft leaves, the government has a lot riding on picking the right replacement.
Australia's $170 billion franchise sector is on notice after a class action was announced in Canada
Lesley Menzies isn't kidding when she says retirement villages have been an issue since they were first created more than 20 years ago.
When Benjamin Disraeli made the famous quote there are "lies, damned lies and statistics" he could have replaced the word statistics with retirement village surveys.
Iris Lees died at an Aveo village in what relatives have described as "horrific circumstances".
The corporate watchdog has been called on to investigate recent trading of Aveo’s shares ahead of the company announcing a $145 million buyback this week.
The retirement village industry is crying out for federal oversight.
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