Kendo updated with our last Sitefinity update, and previous to now it always stored the selected item in the list to the MVVM model. However in the current version it seems to just store literally as the string "[Object, object]"
I've tried setting data-value-primitive to true\false, no change either way.
<select class="schedules form-control" data-bind="source: schedule, value: location.schedule, events: { change: onScheduleChange }, visible: hasScheduleItems" data-text-field="StartDateFormatted" data-value-primitive="false" data-role="dropdownlist" data-option-label="Select a schedule entry" style="width: 100%; max-width: 300px"> </select>