Financial Mail articles from April 2006

Financial Mail archives from April 2006

Not a cloud in sight: SA's economy looks good ahead.
April 28, 2006... (From Financial Mail) Byline: Cees Bruggemans Not a cloud in sight: SA's economy looks good ahead is chief economist at First National Bank. He writes a monthly column for FM Campus The SA economy continues to play hard. Spending...

PRO! BEN POTTER. HONOURS IN ECONOMIC SCIENCE, WITS UNIVERSITY.
April 28, 2006... (From Financial Mail) THE BURNING QUESTION Tertiary education is a privilege. We have to pay for it, said the head of Mafikeng campus at North West University after students protested a fee increase earlier this year. Does anyone who...

AGAINST! TEMBILE "TERROR" YAKO. FINAL YEAR ELECTRICAL ENGINEERING AT CAPE PENINSULA UNIVERSITY OF TECHNOLOGY, SECRETARY-GENERAL OF SASCO.
April 28, 2006... (From Financial Mail) TEMBILE TERROR YAKO Final year electrical engineering at Cape Peninsula University of Technology (currently secretary-general of Sasco). In rebutting this assertion I would like to quote Horace Mann, who said...

The United Nations at a glance.
April 28, 2006... (From Financial Mail) The United Nations at a glance Size: The UN's white trucks can be seen everywhere in the world. The UN headquarters are in New York City, but the land and buildings are considered international territory. The UN has...

Still a long way to go.
April 28, 2006... (From Financial Mail) Byline: Kate Thompson Still a long way to go SA universities make hardly a blip on the international radar. Why can't they compete? Not a single SA institution has made it into the World University Rankings, a...

Q & A. Ask the Guru.
April 28, 2006... (From Financial Mail) Q & A Ask the Guru Q: What's the difference between a scholarship and a bursary? A: A scholarship is usually awarded for top merit (like academic or sporting achievement), and there are no strings attached....

CAMPUS NEWS.
April 28, 2006... (From Financial Mail) CAMPUS NEWS Potential humanities students will have a harder time getting into university programmes in future, the government's joint working group on higher education said last week. More science students will be...

United Nations works for peace.
April 28, 2006... (From Financial Mail) United Nations works for peace But at times bureaucracy stands in the way of decisive action World War I was a ridiculous, needless war. The League of Nations, formed in its aftermath, was designed to avoid this...

POINTERS: TRICKLE DOWN:.
April 28, 2006... (From Financial Mail) POINTERS TRICKLE DOWN: Economic theory that supporting business eventually benefits middle- and lower-income people.

POINTERS: ACT:.
April 28, 2006... (From Financial Mail) POINTERS ACT: A legal document codifying the result of deliberations of a committee or society or legislative body.

site of the week.
April 28, 2006... (From Financial Mail) site of the week www.theonion.com This long-running online news source is the benchmark in news satire. The stories cover all kinds of current events, real and imagined, but don't be fooled the stories are always...

POINTERS: JUDICIARY:.
April 28, 2006... (From Financial Mail) POINTERS JUDICIARY: The branch of government with the power to interpret as well as apply the law.

POINTERS: AUDIT.
April 28, 2006... (From Financial Mail) POINTERS AUDIT: A formal examination of an organisation's or individual's accounts or financial situation.

POINTERS: PRODUCT RESEARCH:.
April 28, 2006... (From Financial Mail) POINTERS PRODUCT RESEARCH: Marketing research that yields information about desired characteristics by consumers.

SURVEILLANCE: State to access phone records.
April 28, 2006... (From Financial Mail) SURVEILLANCE State to access phone records Right to privacy and drive to curb crime head for collision Ever get the feeling that someone's listening in on your phone conversation? Besides the irritating heavy...

POINTERS. BOOTLEG.
April 28, 2006... (From Financial Mail) POINTERS BOOTLEG: Unauthorised, commercially sold product that has been made illegally.

EMPLOYMENT ACT. Companies subject to fines.
April 28, 2006... (From Financial Mail) EMPLOYMENT ACT Companies subject to fines State to make an example of equity act defaulters The word equity in labour relations has a different meaning to the one you have probably come across in your commerce...

PIRACY: Piracy fighters change tack.
April 28, 2006... (From Financial Mail) PIRACY Piracy fighters change tack Download-to-own movies to drive down pirated DVD sales As cool as it is to watch the latest films in the comfort of your room with friends for free, movie piracy (or bootlegging)...

BEVERAGES: Boozing takes on a new face.
April 28, 2006... (From Financial Mail) BEVERAGES Boozing takes on a new face Younger drinkers opt for fruity alcohol beverages, or FABs A typical Friday evening for most students includes meeting friends at a pub or at a friend's digs to discuss the...

SKILLS TRAINING: Bad proficiency costs industry.
April 28, 2006... (From Financial Mail) SKILLS TRAINING Bad proficiency costs industry Tourism's job-creating potential hamstrung by poor skills You've probably heard that skills shortage is a key challenge facing SA, and an impediment to its growth and...

TALK ABOUT IT:.
April 28, 2006... (From Financial Mail) TALK ABOUT IT: 1)What actions by government can violate human rights and infringe on privacy? 2)What are the pros and cons of having surveillance to counter terrorism and criminal activities? 3)How should government...

WESTERN CAPE: Province ahead of the pack.
April 28, 2006... (From Financial Mail) WESTERN CAPE Province ahead of the pack But the rich still the only ones getting richer in Western Cape The Western Cape may not be SA's economic powerhouse but the province's growth rates for both 2004 and 2005...

POINTERS: AUTONOMY.
April 28, 2006... (From Financial Mail) POINTERS AUTONOMY: The right or state of self-government and self-determination.

TALK ABOUT IT:.
April 28, 2006... (From Financial Mail) TALK ABOUT IT: 1)Why is workplace transformation proceeding at a slow pace? 2)How can companies be incentivised to improve compliance with the Employment Equity Act? 3)Is the act politically or economically driven?...

BUSINESS SCHOOL. Breaking the shackles.
April 28, 2006... (From Financial Mail) BUSINESS SCHOOL Breaking the shackles Wits Business School seeks independence from parent body Independence is usually a good thing. As you mature you will learn not to take everything your parents and teachers told...

Q & A. GORDON ANSWERS TEN ESSENTIAL QUESTIONS.
April 28, 2006... (From Financial Mail) Byline: Robert Quarshie GORDON ANSWERS TEN ESSENTIAL QUESTIONS 1 When do you get up? 5am, because I stay in Pretoria, and I try to avoid traffic. 2 What do you most like about your job? The feeling that I've...

THE SPECTRE OF ONE-PARTY INTOLERANCE.
April 28, 2006... (From Financial Mail) THE SPECTRE OF ONE-PARTY INTOLERANCE How democratic is the ANC? For a party with an overwhelming majority at national, provincial and local government level, the ANC shows alarming signs of intolerance. It seems to...

Editor's Note.
April 28, 2006... (From Financial Mail) Byline: Barney Mthombothi We're just about drowning in holidays. April has been nothing but a long sabbatical, littered with a few working days in which very little of substance was done. Emerging from the...

AFRICA'S TEN PLAGUES.
April 28, 2006... (From Financial Mail) Byline: Moeletsi Mbeki and Elizabeth Sidiropoulos AFRICA'S TEN PLAGUES Until Africa throws off the plagues bedevilling its development, the promised land will continue to evade it Moeletsi Mbeki and Elizabeth...

DON'T BLAME PWC.
April 28, 2006... (From Financial Mail) Byline: Neo Diale DON'T BLAME PWC I am writing with great dismay about stories doing the rounds about Brett Kebble's looting of JCI and Randgold & Exploration. The forensic investigator's (Umbono Financial...

ANOTHER WEEK.
April 28, 2006... (From Financial Mail) AT HOME The executive management team and tender committee of the national prosecuting authority face charges of tender-rigging and corruption. The Treatment Action Campaign turns down a belated invitation to be...

Management turnaround. SMOOTHER SAILING AHEAD.
April 28, 2006... (From Financial Mail) Byline: Thandeka Gqubule Management turnaround SMOOTHER SAILING AHEAD Advtech has successfully exploited changing social and economic conditions in SA After a period of turbulence, Advtech, one of the leading...

Agriculture transformation. DON'T BEND THE MARKET.
April 28, 2006... (From Financial Mail) Byline: Stephan Hofstatter Agriculture transformation DON'T BEND THE MARKET South Africa should step up targeted support for black farmers but avoid direct market intervention by the state. That's the advice of...

ALTECH. Telecoms equipment.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson ALTECH Telecoms equipment One to lock away for the long term Ord price: 5750c Market cap R6,08bn Div yield: 3,6% 12-month high, R60; PE ratio: 15,2. Sector PE: 12,4 Low, R37 Year Turn-...

SAVINGS PLUNDERED.
April 28, 2006... (From Financial Mail) SAVINGS PLUNDERED The one possibility not explored in your article on savings (Investor's Notebook April 7) is that the rapid decline in unit trust, provident fund, retirement annuities and all the other hyped...

CALULO. Real estate: property loan stock.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson CALULO Real estate: property loan stock Laggard could have recovery potential Price: 245c Market cap R183m Yield: 6,3% 12-month high, 435c; PE ratio: 5,3. Sector PE: 25,9 Low, R2 Fin...

Bites.
April 28, 2006... (From Financial Mail) Byline: Jane Maliepaard Substantial snacks Just minutes from Constantia, Cape Town, and the now deeply fashionable False Bay coast, Sostanza Old Bakery & Coffee Shop in Lakeside is a proper bakery with a cafe...

A BLISSFUL NIGHT AWAY FROM THE ANIMALS.
April 28, 2006... (From Financial Mail) Byline: Jamie Carr A BLISSFUL NIGHT AWAY FROM THE ANIMALS Most private game reserves view children about as fondly as a case of the trots. This is quite understandable, given their core market of Floridian...

CASHBUILD. Temporary blip.
April 28, 2006... (From Financial Mail) Byline: Chris Gilmour CASHBUILD Temporary blip The pause that refreshes Ord price: 4810c Market cap R1,2bn Div yield: 2,3% 12-month high, R57; PE ratio: 15,7. Sector PE: 14,6 Low, 3285c Six Turn- Operating...

Best Company To Work For. ENTRIES PUMPING.
April 28, 2006... (From Financial Mail) Byline: David Furlonger Best Company To Work For ENTRIES PUMPING Entries for the 2006 Best Company To Work For are pouring in at an unprecedented rate. Last year, a record 123 companies used the event to...

COMBINED MOTOR HLDGS. Specialty retailers.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson COMBINED MOTOR HLDGS Specialty retailers Is growth rate peaking? Ord price: 11150c Market cap R2,35bn Div yield: 2,2% 12-month high, R112; PE ratio: 14,4. Sector PE: 14,6 Low, 3960c Year...

CRIMINAL DECLINE I read with great interest your story, See-saw of Ccrime (FM Focus April 7)., and would like to compliment Peter Honey on the balanced nature of the article. As Honey points out, there is now a groundswellground swell of evidence.
April 28, 2006... (From Financial Mail) Byline: Gareth Crocker CRIMINAL DECLINE I read with great interest your story, See-saw of crime (FM Focus April 7). The article refers to a 1997 study conducted by US vehicle tracking leaders LoJack, where two...

Cellphones. NOW YOUR PHONE NEEDS A LICENCE.
April 28, 2006... (From Financial Mail) Byline: Peter Honey Cellphones NOW YOUR PHONE NEEDS A LICENCE That cellphone is no longer simply the cute little talk-toy it used to be. From June 1 all new cellphone owners will have to be registered and so...

DATACENTRIX. Computer services.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson DATACENTRIX Computer services Back in buying territory Ord price: 299c Market cap R614m Div yield: 4,7% 12-month high, 325c; PE ratio: 10,4. Sector PE: 28,5 Low, 228c Year Turn- Operating...

The best reader's contribution each week to Did You Hear?
April 28, 2006... (From Financial Mail) The best reader's contribution each week to Did You Hear? wins a fashionable Festina watch, valued at R2250. Prizes will be delivered by Berco Express. Two more readers can each win a weekend's accommodation for two...

Eating out. A LITTLE TOO SAUCY.
April 28, 2006... (From Financial Mail) Byline: Linda Stafford Eating out A LITTLE TOO SAUCY The Showroom, Cape Town The Cape Town bush telegraph is crackling with the news of the opening of yet another cutting-edge restaurant. But this time the...

ADSL CHALLENGE.
April 28, 2006... (From Financial Mail) Byline: Bongani Dube ADSL CHALLENGE I would like to challenge Telkom and the second network operator about ADSL. My e-mail address is bonganidube@polka.co.za and I will take the ADSL from whichever of the...

Cinema. MEN'S MASKS Inside Man.
April 28, 2006... (From Financial Mail) Byline: Peter Wilhelm Cinema MEN'S MASKS Inside Man directed by Spike Lee In the dead months after the Oscars and before the northern summer brings forth the big-budget skull-crushers there falls a hiatus, as...

Employment equity. COURTING COMPLIANCE.
April 28, 2006... (From Financial Mail) Byline: Razina Munshi Employment equity COURTING COMPLIANCE Labour minister Membathisi Mdladlana says prosecutions will show employers that government is serious about transforming the workplace. Employment...

The JSE. NOT SO LATE, AFTER ALL.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson The JSE NOT SO LATE, AFTER ALL The assiduity with which JSE CEO Russell Loubser and his staff pursue companies that don't publish their results on time is commendable but, like the rest...

Diamond: Jasco. Dog: Kelgran.
April 28, 2006... (From Financial Mail) Byline: Jamie Carr Diamond Jasco After a tricky couple of years, Jasco has rewarded its believers with a cracking turnaround story. Picking turnarounds is a tidy little sport for punters who have got a little...

BEE course. KEEP UP TO DATE ONLINE.
April 28, 2006... (From Financial Mail) BEE course KEEP UP TO DATE ONLINE New cabinet-approved codes of good practice for black economic empowerment (BEE) have introduced a revised point-scoring formula that encourages companies to enter deals with groups...

NO PAIN, NO GAIN.
April 28, 2006... (From Financial Mail) Byline: William Fraser NO PAIN, NO GAIN The cost of paying an investment manager... is small in relation to the potential losses that may arise from incorrect... investment decisions is with Foord Asset...

Empowerment. NOT CONVINCED.
April 28, 2006... (From Financial Mail) Byline: Sibonelo Radebe Empowerment NOT CONVINCED In its 2006 trade policy agenda document, the US has dubbed black economic empowerment (BEE) the main risk of doing business in SA. This suggests that...

Unit trust quarterlies. MONEY-GO-ROUND.
April 28, 2006... (From Financial Mail) Byline: Stephen Cranston Unit trust quarterlies MONEY-GO-ROUND Money switched from bank deposits, life insurers or pension funds has boosted the industry There was a record R19,7bn inflow into unit trusts in the...

KEEP ON SPENDING.
April 28, 2006... (From Financial Mail) Byline: Justice Malala KEEP ON SPENDING You can imagine the shock and horror we felt when we arrived for lunch and there was no-one there **1886 Shop 8, 24 Central Cnr Fredman Drive & Gwen Lane Sandton Tel:...

Global housing market. COUNT YOUR BLESSINGS.
April 28, 2006... (From Financial Mail) Byline: Ian Fife Global housing market COUNT YOUR BLESSINGS Low by international norms, prices for SA properties still have room to rise The world has become nervous about the global property boom, since former...

Corporate headquarters. GOLDING BUYS KEBBLE'S LAIR.
April 28, 2006... (From Financial Mail) Byline: Ian Fife Corporate headquarters GOLDING BUYS KEBBLE'S LAIR Pam Golding is finalising the purchase of Monterey, Brett Kebble's Bishopscourt corporate headquarters until his death late last year. The...

COLOUR-CODED BEE.
April 28, 2006... (From Financial Mail) Until the DTI defines how the black economic empowerment scores are to be interpreted, there is no point in complying COLOUR-CODED BEE There is a fundamental principle missing from the broad-based black economic...

Stock killings. LEOPARD ON CALL.
April 28, 2006... (From Financial Mail) Byline: Larry Claasen Stock killings LEOPARD ON CALL Troublesome leopards in the Eastern Cape will soon be SA's latest cellphone users. Concern over stock killings has resulted in the Eastern Cape Landmark...

Icasa Amendment Bill. HANGING IN THE BALANCE.
April 28, 2006... (From Financial Mail) Byline: Duncan McLeod Icasa Amendment Bill HANGING IN THE BALANCE The political wrangle over Icasa's independence is far from over The department of communications wants an amendment to the constitution that...

DID YOU HEAR?
April 28, 2006... (From Financial Mail) Byline: Humour Heritage Collection Holdings is one of many small-cap companies on the JSE to miss their deadlines for reporting financial statements this year. When the company did get around to publishing its...

JASCO. Electrical components.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson JASCO Electrical components Getting back on track Ord price: 298c Market cap R207m Div yield: 3,0% 12-month high, 298c; PE ratio: 10,8. Sector PE: 17,2 Low, 190c Year Turn- Operating...

HOWLING GOOD IDEA.
April 28, 2006... (From Financial Mail) Byline: Jeremy Maggs HOWLING GOOD IDEA A new print advertisement for Sunlight dishwashing liquid is set on a dark, cloudy night. On a kitchen drying rack is a newly washed, white dinner plate resembling a full...

Housing market. GET A FOOT ON THE PRICE LADDER.
April 28, 2006... (From Financial Mail) Byline: Ian Fife Housing market GET A FOOT ON THE PRICE LADDER Growing complaints about rising SA home prices and blaming foreigners will do nothing to stop property prices rising further. Yet SA remains...

AdFocus. WAITING IS NEARLY OVER.
April 28, 2006... (From Financial Mail) Byline: Jeremy Maggs AdFocus WAITING IS NEARLY OVER Which is SA's top advertising agency? All will be revealed on Monday May 8 at the FM's annual AdFocus awards. The event, in association with the SABC, will...

Strategy. ON THE SHELF.
April 28, 2006... (From Financial Mail) Byline: Jeremy Maggs Strategy ON THE SHELF Clients are shopping for specialist solutions The one-stop shop, as traditionally offered by SA advertising agencies, is in danger of extinction. Brand strategist Andy...

Rugby festivals. BANKING ON THE YOUTH.
April 28, 2006... (From Financial Mail) Byline: Jeremy Maggs Rugby festivals BANKING ON THE YOUTH A relatively small (R1,2m) sponsorship of Johannesburg schools' rugby festivals has given First National Bank (FNB) an opportunity to engage with up to...

SAPPI: JUGGLING DEMANDS.
April 28, 2006... (From Financial Mail) Byline: Andrew McNulty SAPPI: JUGGLING DEMANDS Investor interest in Sappi has for some time been focused primarily on the group's activities in Europe and the US, where weak product prices and surging production...

New funds. MORE CHOICE ALL THE TIME.
April 28, 2006... (From Financial Mail) Byline: Stephen Cranston New funds MORE CHOICE ALL THE TIME The number of unit trusts in SA continues to increase. During the first quarter, it grew from 618 to 644. There were no fund closures in the March...

Market research. BLAND LEAD THE BLAND.
April 28, 2006... (From Financial Mail) Byline: Jeremy Maggs Market research BLAND LEAD THE BLAND Should advertising agencies and their clients place more trust in their own creative instincts and less in the judgment of consumers? Rita Larisma,...

TIDE-FIGHTER LOOKS OFFSHORE.
April 28, 2006... (From Financial Mail) Byline: Stephen Cranston TIDE-FIGHTER LOOKS OFFSHORE As expected, most managers are still extolling the virtues of domestic equities, and I fully expect Old Mutual Asset Managers to sing their usual pro-equity...

OCTODEC. Real estate: property loan stock.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson OCTODEC Real estate: property loan stock Should continue to outperform Price: 1175c Market cap R921m Yield: 6,7% 12-month high, R12; PE ratio: 15,0. Sector PE: 25,9 Low, 630c Six Net...

Pick 'n Pay. STILL PRODUCING THE GOODS.
April 28, 2006... (From Financial Mail) Byline: Chris Gilmour Pick 'n Pay STILL PRODUCING THE GOODS Against tough competition, coupled with a vicious strike, Pick 'n Pay again produced the goods and turned in an excellent full year. Operating profit...

Motoring. CLASSY TOURER.
April 28, 2006... (From Financial Mail) Byline: David Furlonger Motoring CLASSY TOURER The Mercedes-Benz B-Class Mercedes-Benz's bowl of alphabet soup is filling up. The A-Class, C-Class, E-Class, M-Class and S-Class are all firmly established in SA....

People. TROPHY LIFE At Dinner with the FM.
April 28, 2006... (From Financial Mail) Byline: Ian Fife People TROPHY LIFE At Dinner with the FM with PA Group nonexecutive chairman Jan le Roux at La Campagnola, Bryanston, Sandton The giant sofa in the cigar bar at La Campagnola, where Jan le Roux...

Movie industry. TWIST IN THE PLOT TO FIGHT PIRACY.
April 28, 2006... (From Financial Mail) Byline: Themba Hlengani Movie industry TWIST IN THE PLOT TO FIGHT PIRACY Already confronted by mediocre attendance figures and increased piracy, SA entertainment companies Ster-Kinekor and Nu Metro are facing...

Fund performance. ON A ROLL WHILE THE GOING'S GOOD.
April 28, 2006... (From Financial Mail) Byline: Stephen Cranston Fund performance ON A ROLL WHILE THE GOING'S GOOD Unit trust investors who were not tempted to take profits will be pleased with the roaring start to the year. The JSE gave a 13,2%...

PREMIUM. Real estate: property loan stock.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson PREMIUM Real estate: property loan stock Octodec may offer better value Price: R10 Market cap R1,14bn Yield: 6,1% 12-month high, 1050c; PE ratio: 16,7. Sector PE: 25,9 Low, 510c Year Net...

PSG. Financial: investment services.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson PSG Financial: investment services Don't be put off if profits dip this year Ord price: 2420c Market cap R2,88bn Div yield: 2,8% 12-month high, 2455c; PE ratio: 6,9. Sector PE: 13,4 Low,...

PURPLE CAPITAL. Equity investments.
April 28, 2006... (From Financial Mail) Byline: Michael Coulson PURPLE CAPITAL Equity investments Time to deliver Ord price: 107c Market cap R155m 12-month high 170c; low 76c Sector PE: 6,3 Six Turn- Operating Pretax *Headline *NAV months over loss...

Sanlam. BETTER WAYS TO SPEND THE CASH.
April 28, 2006... (From Financial Mail) Byline: Stephen Cranston Sanlam BETTER WAYS TO SPEND THE CASH Investors did not take kindly to Sanlam's possible bid for British life office GE Life. The Sanlam share price fell 2,7% when the markets opened on...

Skills training. A DECIDED LACK OF EXPERTISE.
April 28, 2006... (From Financial Mail) Byline: Carol Paton Skills training A DECIDED LACK OF EXPERTISE The tourism, hospitality & sport sector education & training authority (Theta), which has had four CEs in six years, is in trouble again. A...

SLASH FUEL TAX.
April 28, 2006... (From Financial Mail) Byline: Denoon Sieg SLASH FUEL TAX With the oil price heading ever upwards, is it not time for our minister of finance to consider reducing or removing the heavy tax component of local fuel prices? We have seen...