Financial Mail articles from August 2006

Financial Mail archives from August 2006

Interest rates going up: shock developments aside, we can handle it.
August 25, 2006... (From Financial Mail) Byline: Cees Bruggemans Interest rates going up: shock developments aside, we can handle it is chief economist at First National Bank. He writes a monthly column for FM Campus With two 0,5% interest rate...

Site of the week.
August 25, 2006... (From Financial Mail) site of the week www.jacksonpollock.org Okay, this one's just for fun. Ever wandered around an art museum, stared at a Jackson Pollock painting and thought: I could do that"? Well now you can, without buying any...

Southern African Development Community.
August 25, 2006... (From Financial Mail) Southern African Development Community Size: SADC has a membership of 14 southern African countries, with a combined population of about 230m people. The member states are Angola, Botswana, the Democratic Republic...

Brightening the rainbow.
August 25, 2006... (From Financial Mail) Byline: Susan Mwangi Brightening the rainbow Foreign students bring new perspectives and experiences to SA universities Between mobilising students against the military regime in Burma, publishing subversive...

FOREIGN STUDENT FACTS. International students enrolled in SA universities. Where do they come from?
August 25, 2006... (From Financial Mail) FOREIGN STUDENT FACTS International students enrolled in SA universities: 1994 13000 1996 15296 2003 49966 2005 52579 Where do they come from? 36208 come from SADC countries (excluding SA) 6651 come from other...

Q & A. Ask the Guru.
August 25, 2006... (From Financial Mail) Q & A Ask the Guru Q: What are my chances, as a woman, of becoming a CEO? A: A recent survey showed that 19,8% of company executives in SA are women. Women make up 52% of the population, and 6% of women in SA become...

Letters.
August 25, 2006... (From Financial Mail) With the little knowledge I have of accounting and auditing, I have seen that accounting is changing from using the historical cost model to the fair value model, and most companies are using the fair value model to...

Winning letter.
August 25, 2006... (From Financial Mail) Winning letter Write us a great letter and you could win a CD, courtesy of Gallo and FM Campus. The winner this week is Henry C Ndeule.

Aiming for free trade regions.
August 25, 2006... (From Financial Mail) Aiming for free trade regions SADC promotes regional integration to foster development Civic activists and NGOs from Zimbabwe travelled to Lesotho last week to protest at the Southern African Development Community...

CAMPUS NEWS.
August 25, 2006... (From Financial Mail) CAMPUS NEWS First lady Zanele Mbeki has been inaugurated as the first chancellor of CIDA City Campus in Johannesburg. CIDA, launched in 1999 as a privately-funded tertiary institution to provide education for...

POINTERS. BOOM.
August 25, 2006... (From Financial Mail) POINTERS BOOM: A period of rapid economic expansion when resources are being fully used and the GDP is growing steadily.

POINTERS. AFFIDAVIT.
August 25, 2006... (From Financial Mail) POINTERS AFFIDAVIT: A written declaration made under oath; a written statement sworn to be true before a legal authority.

POINTERS. NARCISSISM.
August 25, 2006... (From Financial Mail) POINTERS NARCISSISM: Excessive preoccupation with self; an exaggerated sense of one's own importance and abilities.

POINTERS. PANDEMIC.
August 25, 2006... (From Financial Mail) POINTERS PANDEMIC: An epidemic over a wide geographic area and affecting a large proportion of the population.

POINTERS. BRAIN DRAIN.
August 25, 2006... (From Financial Mail) POINTERS BRAIN DRAIN: The emigration of a significant proportion of a country's highly skilled professional population.

WORLD CUP. SA to score, but not that much.
August 25, 2006... (From Financial Mail) WORLD CUP SA to score, but not that much High expectations for economic spin-offs sure to be dashed You've already read pages of newsprint and heard hours of talk about the 2010 World Cup. Maybe you aren't a soccer...

CONSTRUCTION. Building surge on the brink.
August 25, 2006... (From Financial Mail) CONSTRUCTION Building surge on the brink Lull in construction sector to be followed by three booms You may have noticed an increasing shortage of available rental accommodation in your area. Wise investors bought...

JACOB ZUMA. Mbeki dragged into Zuma case.
August 25, 2006... (From Financial Mail) JACOB ZUMA Mbeki dragged into Zuma case Suspicion hangs over Mbeki's involvement in the arms deal The term politics" has been variously described by politicians, academics and philosophers, but politics is commonly...

TESTING. Pscyho tests back in vogue.
August 25, 2006... (From Financial Mail) TESTING Pscyho tests back in vogue Company leaders are being tested for suitability When you start job-hunting, you may have to get through personality and psychometric tests before being offered a position. This is...

HIV/Aids. Health minister, TAC at it again.
August 25, 2006... (From Financial Mail) HIV/Aids Health minister, TAC at it again SA's Aids drugs battle takes international centre stage The feud over Aids drugs between the Treatment Action Campaign (TAC) and health minister Manto Tshabalala-Msimang...

EMIGRATION. No end to SA's brain drain.
August 25, 2006... (From Financial Mail) EMIGRATION No end to SA's brain drain Recent study shows the country is still losing skilled workers Thinking of emigrating? Read on. Many professionals are leaving SA shores to pursue careers abroad, leaving gaps...

They may be Legless, but they're going places.
August 25, 2006... (From Financial Mail) They may be Legless, but they're going places Student partnership provides entertainment for major corporates Nicholas Sadleir and Angus Hervey started their events management business, The Legless Group, last year...

POINTERS. COST-BENEFIT ANALYSIS.
August 25, 2006... (From Financial Mail) POINTERS COST-BENEFIT ANALYSIS: Weighing total expected costs versus total expected benefits in order to choose the most profitable option.

Five essential questions.
August 25, 2006... (From Financial Mail) Five essential questions How many employees do you have? Three. How much do you pay for office space? R2500 per month How many hours do you work every day? About eight. Did you get a loan to start your...

TALK ABOUT IT: Construction.
August 25, 2006... (From Financial Mail) TALK ABOUT IT: 1)How is a construction surge good for an economy? Can it ever be bad? 2)Are rental price ceilings always efficient? What could happen if one is imposed incorrectly? 3) Outline the factors that slowed...

TALK ABOUT IT: Psycho tests.
August 25, 2006... (From Financial Mail) TALK ABOUT IT: 1)Why is it important to take utmost caution when hiring employees? 2)What are the pros and cons of using personality tests to make hiring decisions? 3) Why is there a need for labour market...

A chartered accountant shows initiative and moves up fast.
August 25, 2006... (From Financial Mail) A chartered accountant shows initiative and moves up fast Accounting for me is like dirt to the street-sweeper, says Nhlanhla Sigasa, who has always loved working with numbers. He was already sure he wanted to...

NHLANHLA ANSWERS TEN ESSENTIAL QUESTIONS.
August 25, 2006... (From Financial Mail) NHLANHLA ANSWERS TEN ESSENTIAL QUESTIONS 1 When do you get up in the morning? Between 5.30 and 6.30am. 2 What do you like about your job? Not being office bound, and the continuous professional development...

TALK ABOUT IT: Jacob Zuma.
August 25, 2006... (From Financial Mail) TALK ABOUT IT: 1)Why is the Zuma corruption trial such a big deal for SA politics? 2)What measures can be put in place to fight and avoid corruption that plagues the African continent? 3)What impact does the Zuma...

PROPERTY A WINNER.
August 25, 2006... (From Financial Mail) Byline: Kura Chihota The careful investor understands that wealth through property is a discipline best practised over time PROPERTY A WINNER In response to Ian Fife's alarmist Property crunch (Cover Story...

Diamonds & Dogs.
August 25, 2006... (From Financial Mail) Byline: Jamie Carr Diamond Enviroserv The success of Enviroserv is good news in two respects firstly for the shareholders, who must be decidedly satisfied with the way their operation is growing, and secondly...

SINS OF COMMISSION.
August 25, 2006... (From Financial Mail) Byline: Tony Hawkins SINS OF COMMISSION In the eyes of many Zimbabweans, Impala is seen as a collaborator because it is investing to sustain a repressive government Tony Hawkins is professor of economics at the...

Invicta. CONDITIONS GOOD FOR EARNINGS.
August 25, 2006... (From Financial Mail) Byline: Stafford Thomas Invicta CONDITIONS GOOD FOR EARNINGS It is under the stress of tough conditions that management ability is really tested. Last year Invicta came through with flying colours when all its...

BLAME AND SHAME.
August 25, 2006... (From Financial Mail) Byline: Clive Sindelman BLAME AND SHAME A letter by Gerald Sibanda (August 11) accuses Israel, which is forced to fight crimes on its civilian population, of atrocities, when they are extremely tragic examples...

Business tax burden.
August 25, 2006... (From Financial Mail) Byline: Colin Boyes Business tax burden Business across the board welcomed the announcement by the minister of finance in his budget speech in February that Regional Services Council (RSC) levies would be...

TALK ABOUT IT: World Cup.
August 25, 2006... (From Financial Mail) TALK ABOUT IT: 1)Why is it difficult to accurately assess the costs and benefits of the World Cup? 2)What would be the effect of improved public transport on the tournament? 3)What macroeconomic factors could have...

TRANSNET SHOULD ALLAY FEARS OVER PAY.
August 25, 2006... (From Financial Mail) TRANSNET SHOULD ALLAY FEARS OVER PAY The huge increases in executive remuneration and directors' fees over the past year at Transnet (see page 44) seem startling in the light of its chronic problems, especially at...

FM Another Week.
August 25, 2006... (From Financial Mail) AT HOME Anglo American's performance on the London Stock Exchange helps the FTSE 100 to close in positive territory after reports that the company may be a takeover target for Xstrata or Brazil's CVRD. Barnard...

Editor's Note.
August 25, 2006... (From Financial Mail) Byline: Barney Mthombothi From time to time in the life of a people, a seemingly insurmountable challenge presents itself that tends to test their will or resolve to the utmost. Confronting the challenge then...

Health. BEETROOT STAND MAKES TAC SEE RED.
August 25, 2006... (From Financial Mail) Byline: Shoks Mzolo Health BEETROOT STAND MAKES TAC SEE RED By all accounts, the bloody nose SA received at the International Aids Conference in Toronto last week was self-inflicted. International experts...

VOICE OF REASON.
August 25, 2006... (From Financial Mail) Byline: Hashim Bobat VOICE OF REASON Jews in this country and elsewhere can disagree all they want with the growing voice of dissent regarding the actions of the illegitimate state of Israel (Letters August 11)....

Books. LIES AND DECEPTION.
August 25, 2006... (From Financial Mail) Books LIES AND DECEPTION Colour Bar by Susan Williams (Allen Lane, R240, 408pp) Most books about the marriage of Seretse Khama, the first president of Bo-tswana, and his English wife, Ruth, have focused on the...

ELVIS DRESSES AND SCARY UNDERPANTS.
August 25, 2006... (From Financial Mail) Byline: Jamie Carr ELVIS DRESSES AND SCARY UNDERPANTS Well that's it, then. I am no longer considering casting off the worldly goods and spending the declining years as an itinerant holy man. This is entirely...

Cinema. THE FALL.
August 25, 2006... (From Financial Mail) Byline: Peter Wilhelm Cinema THE FALL United 93 written and directed by Paul Greenglass This extraordinary reconstruction of the attacks on America of September 2001 might seem to qualify as a documentary....

COMPU-CLEARING. Computer services.
August 25, 2006... (From Financial Mail) Byline: Stafford Thomas COMPU-CLEARING Computer services Solid as a rock Ord price: 280c Market cap R112m Div yield: 7,1% 12-month high, 345c; PE ratio: 14. Sector PE: 17 Low, 220c Year Turn- Operating Pretax...

Broadcasting in 2010. THE FUTURE WILL HAVE ARRIVED.
August 25, 2006... (From Financial Mail) Byline: Duncan McLeod Broadcasting in 2010 THE FUTURE WILL HAVE ARRIVED By 2010, the world of broadcasting will have been turned on its head. By then, high-definition television will have taken off worldwide,...

Danny Jordaan. A LAID-BACK ACTIVIST.
August 25, 2006... (From Financial Mail) Byline: Sven Lunsche Danny Jordaan A LAID-BACK ACTIVIST Danny Jordaan is having to draw on the skills he honed as a teacher and political activist chief among them patience and unswerving faith that the...

Did you hear?
August 25, 2006... (From Financial Mail) An ad in KwaZulu Natal's Post newspaper this month offered a beautifully renovated home in Kloof with river running through it designed to appeal, no doubt, to devotees of fly fishing and Norman Maclean's swirling...

Did you hear? Prize winners.
August 25, 2006... (From Financial Mail) The best reader's contribution each week to Did You Hear? wins a fashionable Hugo Boss watch, valued at R2500. Prizes will be delivered by Berco Express. Two more readers can each win a weekend's accommodation for...

TALK ABOUT IT: HIV/Aids.
August 25, 2006... (From Financial Mail) TALK ABOUT IT: 1)Is the TAC demanding the impossible from government? 2)How will the rising Aids-related death toll affect the SA economy? 3)What recourse do citizens have when they disagree with their government's...

Car industry. FIAT IN SEARCH OF A CO-DRIVER.
August 25, 2006... (From Financial Mail) Byline: David Furlonger Car industry FIAT IN SEARCH OF A CO-DRIVER With less than two years to find a new SA assembler for its vehicles, Fiat Auto appears to recognise it may have to endure a period of importing...

Amabubesi. NGCUKA STALKS OFF.
August 25, 2006... (From Financial Mail) Byline: Mandulo Maphumulo Amabubesi NGCUKA STALKS OFF Amabubesi Investments chairman Bulelani Ngcuka has resigned, allegedly over a fight about the benefits he demanded from the group and its refusal to pay for...

WAIT FOR FREEDOM.
August 25, 2006... (From Financial Mail) Byline: Justice Malala WAIT FOR FREEDOM You can't go wrong if you bring Americans here. But what will scupper your plans is the service *Moyo Zoo Lake Parkview Johannesburg Tel: (011) 646-0058 *****Now this is...

Bafana Bafana in 2010. A MOUNTAIN TO CLIMB.
August 25, 2006... (From Financial Mail) Byline: Mark Gleeson Bafana Bafana in 2010 A MOUNTAIN TO CLIMB The formation of an SA football team to challenge the world, or at least prove competitive in the 2010 tournament, looks like Mission Impossible....

GRINDROD. Shipping & logistics.
August 25, 2006... (From Financial Mail) Byline: Themba Hlengani GRINDROD Shipping & logistics Land assets trotting along Ord price: R13 Market cap R6,05bn Div yield: 4,62% 12-month high 1450c; PE ratio: 6,67. Sector PE: 10,6 Low, 981c Six Turn-...

DAM EFFLUENT.
August 25, 2006... (From Financial Mail) DAM EFFLUENT Your note on the Kabula Development's appeal to effluent buyers (Did You Hear? August 11) was closer to the mark than you may have realised. Hartbeespoort Dam is a severely polluted impoundment, one of...

HYPROP. Real estate: property loan stock.
August 25, 2006... (From Financial Mail) Byline: Stafford Thomas HYPROP Real estate: property loan stock Accumulate Ord price: 3350c Market cap R4,84bn Income yield: 6,2% 12-month high, 3950c; PE ratio: 12,3. Sector PE: 25,3 Low, 2550c Six Turn-...

Financial advice. WEEDING OUT THE WORST.
August 25, 2006... (From Financial Mail) Byline: Stephen Cranston Financial advice WEEDING OUT THE WORST But as provision of financial products starts to cost more, service in the mass market will lessen Arather disturbing picture of the quality of...

TALK ABOUT IT: Emigration.
August 25, 2006... (From Financial Mail) TALK ABOUT IT: 1)Why is the brain drain such a big concern for the SA government? 2)What measures and incentives can government put in place to ensure that people with scarce skills stay in the country? 3)How can...

HOW FCB ROSE TO CHALLENGE.
August 25, 2006... (From Financial Mail) Byline: Jeremy Maggs HOW FCB ROSE TO CHALLENGE The new Toyota Avensis TV commercial shows a young man driving his car from flower seller to flower seller and filling it with roses. Then he drives to his...

Outdoor advertising. BUS-TUP!
August 25, 2006... (From Financial Mail) Byline: Jeremy Maggs Outdoor advertising BUS-TUP! Primedia won't surrender contract without fight Outdoor advertising company Alliance Media has accused rival Primedia Outdoor of using unfair tactics to hold on...

Media. NEW AGENCY FOR THE FM.
August 25, 2006... (From Financial Mail) Byline: Jeremy Maggs Media NEW AGENCY FOR THE FM The FM has appointed a new advertising agency rmg:connect. The agency specialises in below-the-line advertising and customer relationship management. MD Jim...

Personality testing. LET'S SEE HOW YOU TYPE.
August 25, 2006... (From Financial Mail) Byline: Thandeka Gqubule Personality testing LET'S SEE HOW YOU TYPE Companies are realising the importance of testing leaders for suitability Personality tests and psychometric testing for aptitude have...

Emigration. THE TRICKLE GROWS STRONGER.
August 25, 2006... (From Financial Mail) Byline: Shannon Sherry Emigration THE TRICKLE GROWS STRONGER The brain drain continues unabated, according to a range of statistics and surveys released in recent months. The latest official Stats SA figures on...

NEDBANK FINANCIALS. Domestic equity financial.
August 25, 2006... (From Financial Mail) Byline: Stephen Cranston NEDBANK FINANCIALS Domestic equity financial Stock picks are coming right Unit price: 7145c Total assets R126m Top ten holdings:* Standard Bank, FirstRand, Metropolitan, Absa, Sanlam,...

OFFICIAL RECOGNITION AT LAST.
August 25, 2006... (From Financial Mail) Byline: Stephen Cranston OFFICIAL RECOGNITION AT LAST Does the new hedge fund index on the Bond Exchange mean that regulated hedge funds are around the corner? Bond Exchange CEO Garth Greubel says the exchange...

Old Mutual Financial. A BET ON INTEREST RATES.
August 25, 2006... (From Financial Mail) Byline: Stafford Thomas Old Mutual Financial A BET ON INTEREST RATES Investing in a specialist fund represents an act of faith that it will outperform general equity and other broadly based funds. Regrettably,...

OLD MUTUAL FINANCIAL. Domestic equity financial.
August 25, 2006... (From Financial Mail) Byline: Stafford Thomas OLD MUTUAL FINANCIAL Domestic equity financial Banking on banks Unit price: 546c Total assets R408m Top ten holdings:* Standard Bank, FirstRand, Absa, Liberty Holdings, Metropolitan Life,...

Cinema. SCRAMBLE FOR SCREENS.
August 25, 2006... (From Financial Mail) Byline: Themba Hlengani Cinema SCRAMBLE FOR SCREENS Johnnic Communications' (Johncom) Nu Metro and Primedia's Ster-Kinekor seem ready to go head-to-head on foreign soil. Both are understood to be bidding to...

FW DE KLERK AN UNSUNG HERO. Khehla Shubane.
August 25, 2006... (From Financial Mail) FW DE KLERK AN UNSUNG HERO Khehla Shubane The success of Mandela's great contribution is in no small measure due to the unsung efforts of De Klerk Khehla Shubane is CEO of the BusinessMap Foundation FW de Klerk has...

STATS AND POVERTY.
August 25, 2006... (From Financial Mail) Byline: Thoraya Pandy STATS AND POVERTY The selective application of statistics by an annoyed Charlene Smith did a grave injustice to your readership (Letters August 11). It is a factually incorrect...

People. THE LISTENER.
August 25, 2006... (From Financial Mail) Byline: Heather Formby People THE LISTENER The FM Interview meets Nedbank chairman Reuel Khoza African expressions and ubuntu, an I-am-because-you-are African humanism, are all part of Nedbank chairman Reuel...

Globalisation. LIQUID MARKET COMING.
August 25, 2006... (From Financial Mail) Byline: Ian Fife Globalisation LIQUID MARKET COMING SA listed property will join world trend in its own style if government comes for the ride The world is in the early stages of the greatest financial...

Soccer. EXPENSIVE GAMBLE.
August 25, 2006... (From Financial Mail) Byline: Mark Gleeson Soccer EXPENSIVE GAMBLE The trouble with Carlos Parreira How ironic it is that the appointment of Carlos Alberto Parreira was designed to put an end to the national team's recent ills, but...

STANDARD BANK. Banks.
August 25, 2006... (From Financial Mail) Byline: Heather Formby STANDARD BANK Banks Growth opportunities enhanced Ord price: 7550c Market cap R103bn Div yield: 3,83% 12-month high, R89; PE ratio: 10,48. Sector PE: 10,78 Low, 6451c Six Net Nonint...

STANLIB FINANCIALS. Domestic equity financial.
August 25, 2006... (From Financial Mail) Byline: Stafford Thomas STANLIB FINANCIALS Domestic equity financial Taking a defensive stance Unit price: 170c Total assets R58m Top ten holdings:* Standard Bank, FirstRand, Old Mutual, Absa, Liberty Holdings,...

Defence procurement. TWIST IN TENDER TALE.
August 25, 2006... (From Financial Mail) Byline: Peter Honey Defence procurement TWIST IN TENDER TALE New evidence raises questions about the legality of military contracts The issue over the legality of defence contracts worth more than R300m has...

BEHIND CAPE TAXES.
August 25, 2006... (From Financial Mail) Byline: Frans Verloop BEHIND CAPE TAXES The Western Cape government, in addition to the proposed fuel tax (Economy & Markets August 11), is also looking at a tax on tourism and a development levy. The finance...

Jacob Zuma. MORE NAMES STICK IN THE MESS.
August 25, 2006... (From Financial Mail) Byline: Prakash Naidoo Jacob Zuma MORE NAMES STICK IN THE MESS As the corruption case against ANC deputy president Jacob Zuma begins to take shape, it is becoming clear that President Thabo Mbeki is likely to...

Joe Public. TWO INTO ONE HAS MUST GO.
August 25, 2006... (From Financial Mail) Byline: Jeremy Maggs Joe Public TWO INTO ONE MUST GO Advertising agency Joe Public, part of the FCB stable, is merging its Johannesburg and Cape Town offices. The result is effective closure of the Cape...

Wine. GEMS FROM THE PANTRY.
August 25, 2006... (From Financial Mail) Byline: Neil Pendock Wine GEMS FROM THE PANTRY Bottelary Boys The Bottelary Boys are upset. Dirkie, Piet, Pieter, Louis and Tielman, five winemakers from the Bottelary ward in Stellenbosch, have a bone to pick...

HANDING OVER AT PICK 'N PAY.
August 25, 2006... (From Financial Mail) Byline: Andrew McNulty HANDING OVER AT PICK 'N PAY So Pick 'n Pay CE Sean Summers has joined the lengthening list of CEs who have decided this year to move on and find new directions. As with several of...

MAKE IT EASIER FOR EXPORTERS TO COME TO THE PARTY.
August 25, 2006... (From Financial Mail) MAKE IT EASIER FOR EXPORTERS TO COME TO THE PARTY The positive economic growth surprise in the second quarter 4,9% GDP growth against the consensus forecast of 4,3% suggests that SA may well achieve the 4% growth...

Broadband lines. NEW RULES DON'T HELP WITH PRICING.
August 25, 2006... (From Financial Mail) Byline: Larry Claasen Broadband lines NEW RULES DON'T HELP WITH PRICING It's 2l years too late," says Douglas Reed, CEO of Internet service provider DataPro. Reed is referring to the regulations released by...