Mobile Dynamics Closes Its Doors
11-21-2008, 06:42 PM
#1
Mobile Dynamics Closes Its Doors
Radio school closes
Private facility blames economy
By DON PEAT, SUN MEDIA
Last Updated: 18th November 2008, 2:13am
THORNHILL -- Blaming declining enrolment on to the global economic downturn and a battered North American auto sector, a private career college has closed its doors.
Students attending the Canadian campus of Mobile Dynamics were expecting to write an exam yesterday, instead they arrived to locked doors and a note telling them the school would try to refund their tuition.
"Our lives are put at halt right now," frustrated student Brennan Quintin told the Sun. "We don't know what we're going to do."
The 18-year-old had travelled from Medicine Hat, Alta., and shelled out around $8,000 for an eight-week course that would have taught him how to install car audio. He was just three weeks into the program.
"The course was awesome, I was having a blast," Quintin said.
He was shocked Saturday when a teacher called him and his B.C. roommate to warn the school had gone bankrupt. They didn't believe the school was actually shut until they got to the closed building yesterday.
"We just want some answers," Quintin said. "We should be getting our money back but I don't know."
Mobile Dynamics Canada president Derek Lee said the Thornhill school was hit hard by the economic downturn and he was left with no choice but to declare bankruptcy.
"Last year, we had a bit of a profit. This year, the bottom fell out," Lee said. "We had to close the school."
He said the 18-year-old school is arranging to refund tuition to its students and trying to make arrangements for those who want to attend its sister U.S. campus. The Phoenix, Ariz., school is still open. "Whatever we can do to help them," Lee said.
At its height, the school had 230 students a year, he said, but enrolment had been falling as jobs in car audio installation dried up across North America. The decline in enrolment was accelerated when the stock market dropped in the fall and U.S. electronics giant Circuit City declared bankruptcy.
"Since we're very automotive-based, we saw all of a sudden no enrollments coming through," Lee said. "We realized we're not going to make it."
11-21-2008, 06:50 PM
#3
What can you do.
If people havent noticed, we're in a ressession, and a bad one to boot.
Slowly but surely businesses, car audio or not, arent gonna be able to keep up profit and force to file bankrupcy.
Watch BNN, there are multi BILLION dollar businesses selling for $3.50... its sad. but reality.
If people havent noticed, we're in a ressession, and a bad one to boot.
Slowly but surely businesses, car audio or not, arent gonna be able to keep up profit and force to file bankrupcy.
Watch BNN, there are multi BILLION dollar businesses selling for $3.50... its sad. but reality.
![[i]con's Avatar](https://www.caraudioforumz.com/customavatars/avatar7488_2.gif){kind=avatar}
11-21-2008, 08:06 PM
#8
Ill say it 1st !
most poeple if not all installers trained at md sucked .
The good ones where good before they went to md .
if they where any good they would still be opened
best buy Fs and alot of ma &pa shops still need good installers
so produce me some good installers and i have jobs for them just like other shops do .
most poeple if not all installers trained at md sucked .
The good ones where good before they went to md .
if they where any good they would still be opened
best buy Fs and alot of ma &pa shops still need good installers
so produce me some good installers and i have jobs for them just like other shops do .
11-21-2008, 09:00 PM
#9
I went to their seminars back in the early 90's at a huge company that isn't around anymore (recently bankrupt). Yes, we're in for a financial shitkicking.
I believe that we'll be insulated from this as my shop has specialized in vehicle security for the last 15 years.
When economies fall, thieves take hold. It freaks people out, so they buy security. Then the insurance companies will replace the stolen radio's, amps, subs... So, it all works out in the end.
I believe that we'll be insulated from this as my shop has specialized in vehicle security for the last 15 years.
When economies fall, thieves take hold. It freaks people out, so they buy security. Then the insurance companies will replace the stolen radio's, amps, subs... So, it all works out in the end.
