Jordyn Holman, Bloomberg / 17 February 2019
Research shows diverse perspectives bring tangible benefits to firms that support them, yet black and female CEOs lead just 5% of S&P 500 companies, a number that’s tumbled in recent years.
@edalsg I disagree with your statement that good engineers based on colour are removed at Eskom. If you had any idea of Eskom structures then you would know that majority of Senior engineers are white. Politics, corruption and mismanagement are the major pitfalls of Eskom. Lets not blame the technical black engineers that are qualified to be doing the jobs they were employed to do. The engineers are there based on their professional qualifications. Eskom has one of the best electrical engineers on the African continent and they are not all politically placed.
I am not certain why taxpayer resources (police SARS) must be deployed to protect what are private shareholder interests?
It is like fake Adidas / Nike / Gucci gear. These are PRIVATE commercial interests. Let the concerned companies prosecute civil cases on their own dime, not mine!
Socialism's sustainability delusion of spending other people's money.
Here is a brief insight into its logic,
PROBLEM: WE DO NOT HAVE THE ABILITY TO REPAY DEBT.
SOLUTION: LETS MAKE MORE DEBT...
Enter the Chinese debt-dragon (pun intended - viz 1973 movie) - ready to set up another DEBT TRAP.
Does this mean the start is the world investigating every deal made with the ANC or it's cadre? I suppose it was about time the world sat up and took notice of the corruption the ANC and it's cadre have been involved in.
So Ramaphosa has lots of "Pledges" of incoming capital into South Africa. The income is supposed to run into billions of Rands. The reality Mr. Squirrel is that the capital is flowing out, not in. In case you are unaware, "Pledges" are exactly and only just that. They come with attached conditions. Conditions like "fix the labour laws" or "ensure that the country has uninterrupted electricity supply" or "contain the escalating crime in the country" or "ensure that the labour force stops their constant and non stop striking" etc. etc. If you do not meet the pledge conditions, then Abracadabra, the "Pledges" are mysteriously cancelled and no money flows into the country. I think it cannot be put more simply than that.
Surely this is the writing on the wall? Just why the hell is SAA not shut down and sold as a defunct bankrupt failure of the ANC. SAA does not belong to there ANC, and it never did in the past or in the present. SAA existed in good health long before the ANC came to power. SAA belongs to the taxpayers. We want it sold before the ANC cost us more money yet again.
That the Public Investment Corporation (PIC) to invest R4.3 billion in the company without doing (it seems) due diligence of the most basic as evidenced in the article throws serious doubt on the PIC to manage the hard-earned cash of the nation,
Another case of FFFF ..... Free Finance For Friends ...
What will Moodys say?
Taxing South African royalty, the esteemed killing-machine called the mini-bus taxi industry, should sort out that deficit fairly quickly but then again if Government try the violent response will likely cause them to back-off. Maybe we should all try these 'tactics'.
A topic that interests me is whether the rights to international sport is a valuable product for MultiChoice. If you go into a pub with SS and an international game is on, there are very few people actually watching the game. When the penny eventually drops, this will have major implications with respect to sponsorship, TV rights, and the future of professional sport in South Africa. There seems to be an element of fatigue with respect to watching live sport (look at attendance for rugby, cricket and soccer).
Whether MultiChoice is growth or ex-growth is perhaps a moot point. The important thing is not to overpay. MultiChoice only needs to grow FCF at <5% from here and it could prove to be a very good investment, as most people expect declining FCF due to competition from other media.
There they go again, calling for protection for a service that replays content to death. It is so bad that one doesn't know any longer what has or has not been viewed. It is an overpriced. largely irrelevant service which has had a monopoly for far too long.
If I understand correctly, ESKOM needs somewhere between R150bn to R190bn to get itself in the clear or at least just sustainable. The municipalities owe R30bn. How is the municipalities identified as the primary issue for the troubles in ESKOM according to Yelland? Why doesn't the ANC for a moment forget about the party and do the right thing and remove the two thirds of employees? Surely the good of the people is more important than the good of the party?
Sorry i need to add one more comment: It is becoming very clear that organised crime can only flourish where it receives institutional support. Wessels is again only the fall-guy here and the focus is now clearly on an SME. The problem with this SME is that one of the whistleblowers also got assassinated which in my limited mind makes this a huge matter. We do quite a lot of forensic work and found that SME accountants are much more careful with their clients as these businesses are the sole sources of income for these clients. SME's in general also lack the financial resources to fight any form of litigation. Accountants in this sector also operate smaller practices and any form of litigation can destroy these businesses. Added to it the fact that the regulating bodies and statutory bodies love to litigate against SME accountants and their clients as they are perceived to be soft targets.
So we ignore the population explosion from 1970 to 2015? An explosion that has no bearing on current issues in SA today? Why is the media so hell bent in attempting to spin or ignore the problem that SA is greatly overpopulated? I smell something and it isn't mud.
We have to plan for the future , yet the past is our guiding light . Hoping the past market cycles will be repeated , and that the JSE will rebound to provide a 10% plus return on investment , is unfortunately just that ...a hope and a wish .
Massive mismanagement of the SA economy during the past 20 years , is now coming home to roost . For the JSE to to provide above average results , the economic fundamentals must be in place for companies to make excellent profits , which is not happening now .
So , history , unfortunately , this time around , is not going to assist us , and we have to plan for the actual SA scenario we are facing .
Not even worth analysing. Come on MW you can do better. There is nothing there! The PIC paid R4.3bn for nothing. Virtually the only earnings of this business is the interest on the self same money the PIC put in. To call it a Ponzi scheme would imply a level of sophistication that this bit of securities fraud does not have.
How Surve is still walking free is beyond me.
So, a taxpayer-funded regulator determined that the taxpayer pays for a taxpayer-funded monopoly for using taxpayer funds to unfairly compete with a tax-paying company. SA has reached new levels of absurdity.
This drop in revenue collection must be of huge concern to our ANC government. How do people expect the politicians to make a dishonest living if they, the taxpayers, don't pay their tax ? People, if we do not all stand together and pay our tax diligently as required, then a rich part of our South African heritage and culture of theft and corruption will disapear forever and our disfunctional, failed state for which the ANC work so tirelessly, will go up in smoke.
Suggestion: When Eskom develops the urge for load shedding, start with Soweto.
Reasons being: 1. it is big enough to be significant and 2. they don't pay in any event.
It might even motivate the Sowetans to also pay their electric bill.
If that does not shed enough, start adding all the other laggards until the quota is achieved.
During the 2018 illegal strike, many workers sabotaged power stations, and in terms of South African law, they should have been charged with treason.
" In South Africa treason remains a common-law offence . The crime of high treason is defined as:
“any conduct unlawfully committed by a person owing allegiance to a state with the intention of:
• overthrowing the government of the Republic;
• coercing the government by violence into any action or inaction;
• violating, threatening or endangering the existence, independence or security of the Republic;
• changing the constitutional structure of the Republic.”
But, Pravin Gordhan granted the saboteurs indemnity from prosecution and a R10 000 bonus. The ANC has already shown that it will do anything the unions demand (including indemnity for acts of sabotage and treason) - so how will it be different this time. Especially in an election year.
Privatisation of energy and water is already well under way in the form of residential solar PV, solar water heating and JoJo tank installations. This trend will accelerate as households refuse to be held hostage by a kleptocratic state, hostile labour and leeching non-payers.