Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from [Unidentified Analyst] - Credit Suisse First Boston.
Unidentified Analyst - Credit Suisse First Boston
Can you give some updated thoughts on how you view the economy impacting enrollments and perhaps also do you have any reason to believe that a weak economy won’t continue to help enrollments if things worsen further?
David F. Carney
Well, I would say that – first part of your question, certainly we’re seeing the benefits of the increased unemployment, particularly over the last couple of quarters. The trends certainly have continued into the first quarter of 2009. I would say that, you know, given the fact that we’re watching placement rates very closely and we have programs that are focused on high demand markets and job opportunities, we feel pretty comfortable that a continued weakened economy, assuming it doesn’t last forever, we’re pretty well positioned to deal with that.
Unidentified Analyst - Credit Suisse First Boston
What assumptions about the economy if any are reflected in ’09 guidance?
David F. Carney
Well, I would say this. You saw our overall guidance for the year. You’ve seen the guidance for the first quarter in terms of start growth. We’re pretty mindful that two quarters don’t make a year. So basically we see the impact. We’re very pleased with the trends in the first quarter but overall for the year we’re assuming that, as you can tell from the first quarter, that 25 to 28% and the 13 to 15% overall for the year, so we’re not attributing the last three quarters to a continuation of this trend. A more conservative view. I think when we speak to you next quarter, perhaps we’ll update our guidance based on what we see. But at the moment our visibility is pretty well limited to the next quarter.
Operator
Your next question comes from Gary Bisbee - Barclays Capital.
Gary Bisbee - Barclays Capital
I guess first question, can you give us some sense what the contributing factors to the $0.10 to $0.12 dilution from the acquisition [biz]? What part of that might be just the amortization versus are these businesses actually losing money today versus what level of investments you’ve planned to making them over the next couple of quarters?
David F. Carney
Well, I’ll let Cesar talk about the accounting side of it and everything else. But I’ll give you an overall view, Gary. In terms of the acquisitions and basically five of the six schools we’ve owned for 60 days. Our operating people have been into the schools, had access over the last 60 days. They’re very excited about the upside and the potential. And with that said, they’ve identified a number of opportunities that we want to be able to take advantage of sooner rather than later. And for that reason we’re providing ourselves the opportunity to do that in terms of the $0.10 to $0.12. Cesar.
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