Ok, so yesterday was a big day for NOVA. I work up early because I was planning to go to the American consulate to ask for advice regards to our unpaid wages. It was upon receiving a text from a friend at around 8AM that I discovered NOVA had filed for protection from its creditors, the first step towards bankruptcy. The previous night, an emergency executive meeting was held and the president was removed from office. He has been missing for weeks and refuses to show his face anywhere.
All of NOVA’s schools will now be closed for 10 days. During these 10 days, the remaining executives will try and find financial support and restructure the company. If this cannot be done within the 10 day period, bankruptcy will be declared.
At 5:30 there was a huge meeting at NOVA’s headquarter’s where I work, with easily over a 1,000 people there. Anders, one of the original founders of NOVA was there . They spoke about the situation and answered questions. We have been told at this time to wait at home for hte next ten days. These days will be paid even though we don’t have to work. So, I have 10 days holiday in a row and no money to do anything!
After the meeting, many of the people that I work with went to a large pub/bar to drink the night away. I would say that there were maybe 200 people there – foreign and Japanese staff. At work, the Japanese staff are generally very reserved and don’t befriend us, but last night all bets were off and people were consoling each other. I went to the bathroom and there was a Japanese staff member on her knees laughing hysterically and screaming “Nova…. Nova…. Usoo…. (it’s not true)” Her friends (slightly more sober were around her saying “Daijobu? (are you ok?)”
Anyway, there are several investors keen on different parts of NOVA. NOVA has 3 main sections – the multi media center, kids schools, and adult schools. It seems like the multi media center (where I work) is of interest to yahoo and a few other tech companies. So we might get bought out.
Many of my friends are leaving in the next few days, which is very sad. I’m determined to stay no matter what and I have another job interview next week. Also my new visa came through and I can go and pick it up on Monday!
So now all there is to do is wait and see…..
Links:
http://www.timesonline.co.uk/tol/news/world/asia/article2748901.ece
From one determined individual to stay in Osaka through all of this to another, good luck to you.
thanks nate, best of luck to you as well.
Good luck from me, too!!
Somehow i missed the point. Probably lost in translation
Anyway … nice blog to visit.
cheers, Rose.