Financial Mail articles from November 2006

Financial Mail archives from November 2006

ENTREPRENEURS. The sun meets Europe.
November 24, 2006... (From Financial Mail) Byline: Thandeka Gqubule ENTREPRENEURS The sun meets Europe Miki Milovanovic & Paul Christie Unlike many restaurant owners, Paul Christie and Miki Milovanovic, founders of Doppio Zero, have never had to worry...

US growth served us well.
November 24, 2006... (From Financial Mail) Byline: Jack Bloom US growth served us well Your editorial on the Republican election loss, It's not all good news from the US, is hopelessly muddled (Editorials November 17). Democrats oppose George Bush's...

Jackie Selebi should go or be fired.
November 24, 2006... (From Financial Mail) Jackie Selebi should go or be fired The mere fact that Selebi is hobnobbing with alleged criminals is enough reason for him to go. He's damaged goods When Jackie Selebi was appointed police commissioner in 1999, a...

A BIG question.
November 24, 2006... (From Financial Mail) Byline: Nazmeera Moola NAZMEERA MOOLA A BIG question A projected budget surplus could tempt government to introduce a basic income grant. But would it be sustainable in a downturn? It's easy for politicians to...

Written from the heart.
November 24, 2006... (From Financial Mail) Written from the heart Thank you for a well-written editorial We need a shrink (Editor's Note November 3). I have been reading your notes since you took over as editor and still have to find one that is biased or...

No way to treat a customer.
November 24, 2006... (From Financial Mail) Byline: Humbulani Nemutudi No way to treat a customer It has become a trend for services companies to offer financial services. But my experience with the kulula.com credit card has made me realise these...

A place to excell.
November 24, 2006... (From Financial Mail) Byline: Gillian Godsell GILLIAN GODSELL A place to excel It is vitally important to retain the voice of the middle class in the state education system to maintain levels of excellence Excellent fee-paying state...

Limited upside.
November 24, 2006... (From Financial Mail) Limited upside HOLD INSURANCE BROKERS ALEXANDER FORBES Ord price R15,40 Market cap R7,29bn Div yield 3,8% 12-month high R17 PE ratio n/a. Sector PE 14,1 Low R12,71 Six months to Turnover Rbn Operat-ing profit Rm...

Another Week.
November 24, 2006... (From Financial Mail) Another Week US president George W Bush (2nd L), Russian president Vladimir Putin (C) and other leaders, wear Vietnamese ao dai silk tunics for the official photograph at last week's Asia-Pacific Economic...

China's metal output.
November 24, 2006... (From Financial Mail) The number of foreign mining companies exploring for base metals in China is on the rise, encouraged by reassuring words from the Chinese government and the country's insatiable demand for minerals. China is...

TELKOM/BCX. Heavy weather ahead.
November 24, 2006... (From Financial Mail) Byline: Duncan McLeod TELKOM/BCX Heavy weather ahead Benjamin Mophatlane Delay hasn't been good for business IT group Business Connexion is fed up with the time it's taking for the competition authorities to...

Handshake or grab?
November 24, 2006... (From Financial Mail) Byline: Duncan McLeod DUNCAN McLEOD Handshake or grab? Hovsepian's deal with Microsoft will define his legacy. Critics say that history will not judge him kindly When Novell announced a wide-ranging partnership...

LEADERSHIP FORUM. Like knights to arms.
November 24, 2006... (From Financial Mail) Byline: Peter Honey LEADERSHIP FORUM Like knights to arms The joint leadership forum set up by President Thabo Mbeki and big business is based on mutual recognition that SA's current approach to combating...

24-HOUR BUSINESSES. On alert all the time.
November 24, 2006... (From Financial Mail) Byline: Thandeka Gqubule 24-HOUR BUSINESSES On alert all the time When Bobby Bahadur and Avishka Naidoo bought the Emmarentia Convenience Centre a petrol station with a carwash, workshop and a used Land Rover...

SMALL BUSINESS. Hope takes a beating.
November 24, 2006... (From Financial Mail) Byline: Sibonelo Radebe SMALL BUSINESS Hope takes a beating WHAT IT MEANS Shops in central Johannesburg are hit regularly The closure of small businesses costs the economy dearly Barricaded City shopkeepers have...

So far, so good. BUY. COMPUTER SERVICES. DIMENSION DATA.
November 24, 2006... (From Financial Mail) Byline: Stafford Thomas So far, so good BUY COMPUTER SERVICES DIMENSION DATA Ord price 540c Market cap R8,3bn Div yield 1,3% 12-month high 675c PE ratio 27,6 Sector PE 19,7 Low 403c Year to Sep 30 Turnover US$bn...

DID YOU HEAR?
November 24, 2006... (From Financial Mail) Graffiti noticed in Cape Town recently: Free Yengeni under which someone had scribbled: with any new Mercedes. Correctional Services says Tony Yengeni's weekend home visits were in line with their policy of...

ADVERTISING. Building bridges.
November 24, 2006... (From Financial Mail) Byline: Jeremy Maggs ADVERTISING Building bridges Thembi Msibi Reserving judgment For a large part of her professional career, Thembi Msibi, the new executive head of the Advertising Standards Authority (ASA),...

Lesson for bullies.
November 24, 2006... (From Financial Mail) Byline: Barney Mthombothi BARNEY MTHOMBOTHI Lesson for bullies The invasion of Iraq has unearthed ancient hatreds. Iraq is now so broken it can't even engage in a proper civil war You can almost hear a strange...

You could win a prize or cash.
November 24, 2006... (From Financial Mail) You could win a prize or cash by sending news snippets, wit and gossip to Did You Hear? The best reader's contribution each week wins a fashionable Rotary watch, valued at R2450. Berco Express will deliver it to...

INVESTMENTS AT COEGA. Alcan weighs anchor.
November 24, 2006... (From Financial Mail) Byline: Shareen Singh and Sven Lunsche INVESTMENTS AT COEGA Alcan weighs anchor WHAT IT MEANS Eskom will invest in new infrastructure Alcan still needs to raise funding Jacob Maroga 25-year deal Model of Alcan's...

ALEXANDER FORBE.S Still value in there.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston ALEXANDER FORBES Still value in there Peter Moyo Retained clients The Actis private equity consortium must be within spitting distance of gaining the 75% shareholder approval it needs...

MOTOR INDUSTRY. A two-way street.
November 24, 2006... (From Financial Mail) Byline: David Furlonger MOTOR INDUSTRY A two-way street WHAT IT MEANS European car prices could come down Greater investment in SA not a given Export drive Toyota cars ready for shipping at its Durban factory...

OBITUARY MILTON FRIEDMAN. The experiment continues.
November 24, 2006... (From Financial Mail) Byline: Stuart Theobald OBITUARY MILTON FRIEDMAN The experiment continues The death of Milton Friedman comes as SA engages in an experiment that could define a post-Friedmanite era. SA economic policy straddles...

PORTS. At last, action.
November 24, 2006... (From Financial Mail) Byline: Stafford Thomas PORTS At last, action WHAT IT MEANS R30bn to be spent on upgrading SA ports Limited private-sector involvement to date Port of Durban A R10bn price tag for greater efficiency Efficiency...

WAGES AND SALARIES. A public disservice.
November 24, 2006... (From Financial Mail) Byline: Claire Bisseker WAGES AND SALARIES A public disservice WHAT IT MEANS Lower-skilled civil servants cream it Private sector pays skilled staff better The state salary bill has become more and more...

RED WINE AND HEALTH. Mice have all the fun.
November 24, 2006... (From Financial Mail) Byline: Tim Hindle RED WINE AND HEALTH Mice have all the fun With scientists close to proving that red wine is, almost literally, the elixir of life, we are, it seems, going off the stuff (see main story). What...

PROFILE. A return to origins.
November 24, 2006... (From Financial Mail) Byline: Thandeka Gqubule PROFILE A return to origins Paseka Hlatshwayo is a medical student who has launched a business that could shake up burial practices. He is designing coffins which are much smaller...

CREDIT CARDS. New rules for safe data.
November 24, 2006... (From Financial Mail) Byline: Duncan McLeod CREDIT CARDS New rules for safe data Anyone who accepts and stores credit card numbers and that includes small and medium enterprises must comply with strict new security regulations by...

WHERE ARE THEY NOW? Wrecked by the rand.
November 24, 2006... (From Financial Mail) Byline: Shareen Singh WHERE ARE THEY NOW? Wrecked by the rand Five years ago Richard Forson was at the top of his game. As SAA chief financial officer, he worked tirelessly to organise financing for the...

WINE INDUSTRY. Good reason to whine.
November 24, 2006... (From Financial Mail) Byline: Stafford Thomas WINE INDUSTRY Good reason to whine WHAT IT MEANS Global red wine surplus is leading to lower prices SA is losing share in key export markets Staring down the barrel Red wine prices are...

GIMME. Smile and wave.
November 24, 2006... (From Financial Mail) Byline: Duncan McLeod GIMME Smile and wave Microsoft's LifeCam VX-6000 is a cute little webcam with some nifty features. The device, which connects to a USB port, allows you to do videoconferencing using...

KUMBA IRON ORE LISTING.
November 24, 2006... (From Financial Mail) Byline: Brendan Ryan KUMBA IRON ORE LISTING Kumba Iron Ore (KIO) listed on the JSE this week, hitting a higher-than-expected R118 and settling at R110. This gives KIO a R36bn market cap, making it one of the...

VIRGIN MOBILE. Moves afoot.
November 24, 2006... (From Financial Mail) Byline: Duncan McLeod VIRGIN MOBILE Moves afoot WHAT IT MEANS Management changes are on the cards CEO Sacranie likely to be replaced Sajeed Sacranie Suspended? Big management changes are about to be announced at...

QUOTE OF THE WEEK.
November 24, 2006... (From Financial Mail) Byline: Milton Friedman QUOTE OF THE WEEK Nobody spends somebody else's money as carefully as he spends his own. Nobody uses somebody else's resources as carefully as he uses his own. So if you want efficiency...

101 sub judice?
November 24, 2006... (From Financial Mail) Byline: David Williams What does sub judice mean? That a matter is before a court of law literally, beneath the judge; criminal proceedings are pending or happening. This can mean from the time of arrest, or a...

GRINDROD BANK. New name, new bank.
November 24, 2006... (From Financial Mail) Byline: Heather Formby GRINDROD BANK New name, new bank David Polkinghorne A 12-month gestation might seem a short period for an elephant, but not for Marriott Bank, which waited a year to get approval to trade...

RAND HEDGE SHARES. Round they come again.
November 24, 2006... (From Financial Mail) Byline: Andrew McNulty RAND HEDGE SHARES Round they come again WHAT IT MEANS Currency-hedged shares have been rising since June Local companies are feeling the rate hikes The weaker rand is doing wonders for...

FURNITURE RETAILERS. Settle on one with least credit.
November 24, 2006... (From Financial Mail) Byline: Chris Gilmour FURNITURE RETAILERS Settle on one with least credit The lower end of the market is holding up well for Lewis Group Credit retailers in general and furniture retailers in particular are...

ART. Young cavemen making sense of suburbia.
November 24, 2006... (From Financial Mail) Byline: Sean O'Toole ART Young cavemen making sense of suburbia WHERE TO BUY WARREN LEWIS Moja Modern: Tel: (011) 447-9000 The Bin: Tel: (021) 465-8314 Wallflower Warren Lewis painting The reason young Cape Town...

BOOK OF THE WEEK. Over the hedge. WHEN A CROCODILE EATS THE SUN.
November 24, 2006... (From Financial Mail) Byline: Sue Grant-Marshall BOOK OF THE WEEK Over the hedge WHEN A CROCODILE EATS THE SUN By Peter Godwin 342 pages Picador Africa R149 Zimbabwe-born Peter Godwin's memoir of the disintegration of that country,...

CINEMA. The eyeballs of wit. Borat.
November 24, 2006... (From Financial Mail) Byline: Peter Wilhelm CINEMA The eyeballs of wit Borat: Cultural Learnings of America for Make Benefit Glorious Nation of Kazakhstan Directed by Larry Charles Rating: Flawless Slightly flawed Mediocre Don't see...

FOOD FOR THOUGHT. Cops and snobbery Pomegranate Restaurant.
November 24, 2006... (From Financial Mail) Byline: Justice Malala JUSTICE MALALA FOOD FOR THOUGHT Cops and snobbery Pomegranate Restaurant 79 3rd Avenue Melville Tel: (011) 482-2366 Excellent As good as the Scorpions Good A Selebi Please resign If you're...

hottype.
November 24, 2006... (From Financial Mail) Byline: Sue Grant-Marshall What's the favourite pastime of an old buffalo bull or daggaboy/mudboy, as they're nicknamed? Why do warthogs feed on their knees? We found the answers to these questions on a recent...

JAZZ CD REVIEW. To be Frank ... these are great.
November 24, 2006... (From Financial Mail) Byline: Don Albert JAZZ CD REVIEW To be Frank... these are great It's just over eight years since Frank Sinatra died, yet the song tributes to him continue to appear. It was Fred Astaire who introduced...

MOTORING. Hummer is not for stick-in-the-muds.
November 24, 2006... (From Financial Mail) Byline: David Furlonger MOTORING Hummer is not for stick-in-the-muds WHAT IT MEANS H3 will go on sale in SA in mid-2007 Cadillac is ready to launch in the new year A humdinger The H3 loses its 'freak' appeal A...

AT LUNCH WITH THE FM. The future works.
November 24, 2006... (From Financial Mail) AT LUNCH WITH THE FM The future works HOW HE CHILLS By visiting Mont Rochelle, his wine farm in Franschhoek Anna Trapido with Rwandan-born telecommunications mogul Miko Rwayitare at his home in Sandton In 1919 the...

CRIME AND BUSINESS. Cost of the rot.
November 24, 2006... (From Financial Mail) Byline: Peter Honey CRIME AND BUSINESS Cost of the rot WHAT IT MEANS Corruption is eroding economic growth SA business is hitting back at organised crime SA politicians and society may be more naive and...

RESTAURANT. A pinch more passion, please.
November 24, 2006... (From Financial Mail) Byline: Linda Stafford RESTAURANT A pinch more passion, please HOW TO FIND IT Sel et Poivre: Quartermain Inn, 137 West Street, Morningside, Sandton Tel: (011) 884-9037 It was a sad day indeed when Belgian Coco...

SOCCER Giants with legs of jelly.
November 24, 2006... (From Financial Mail) Byline: Mark Gleeson SOCCER Giants with legs of jelly For the vast majority of footballing fans in SA, these are miserable days indeed. It is nothing to do with our recent defeat in a friendly against Egypt, but...

TRAVEL. Slow with the flow.
November 24, 2006... (From Financial Mail) Byline: Brendan Ryan TRAVEL Slow with the flow WHAT IT COSTS Rack Rates: R2250/person per night, sharing, all inclusive. Negotiable if you book out the whole boat. To book: Tel: (011) 897-0102 or visit:...

COMMUNAL LAND RIGHTS. The other land problem.
November 24, 2006... (From Financial Mail) Byline: Stephan Hofstatter COMMUNAL LAND RIGHTS The other land problem WHAT IT MEANS Traditional leaders have control over communal land They are resisting converting land to freehold tenure Tansen Maunde...

Apples and pears.
November 24, 2006... (From Financial Mail) Byline: Jonathan Louw Apples and pears With reference to the article Big bucks in generics (Cover Story November 17), I would like to point out several inaccuracies in the accompanying table Triple cocktail. ...

Cashing in on copper price.
November 24, 2006... (From Financial Mail) Byline: Keith Marshall Cashing in on copper price Your article on Palabora Mining, Bad call by bankers (Money & Investments November 10) left out a salient point: Palabora's recent performance shows that, the...

Diamond - I llovo; Dog - Wellco.
November 24, 2006... (From Financial Mail) Byline: Jamie Carr Diamonds & Dogs Diamond Illovo Since it appears to be utterly impossible to drive the grey matter away from use of the word sweet in relation to the sugar producer's results, I may as well get...

PENSION FUNDS. No smooth ride Vuyani Ngalwana.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston PENSION FUNDS No smooth ride Vuyani Ngalwana The court duel between Old Mutual and the pension funds adjudicator (PFA) now moves to Durban. Early next year, the Durban high court will...

PROPERTY. Baring their beauty.
November 24, 2006... (From Financial Mail) Byline: Ian Fife PROPERTY Baring their beauty The Zone Finally out of the closet After 30 years behind a veil of silence, SA's big institutions are to reveal all the details of their R50bn property holdings. ...

ASSET MANAGEMENT. Back from the cold.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston ASSET MANAGEMENT Back from the cold Rowan Williams-Short Learnt what not to do Rowan Williams-Short is the latest big beast in the asset management jungle to set up his own boutique...

PROFILE. Building confidence.
November 24, 2006... (From Financial Mail) Byline: Terence Nombembe PROFILE Building confidence After 23 years in accounting in the private and public sectors, (45) begins a seven-year tenure as auditor-general in December. He told Peter Honey of his...

The colour of Golding.
November 24, 2006... (From Financial Mail) Byline: Vijay Naidoo The colour of Golding Your profile of Pam Golding has reference (Surveys November 10). I was struck by the absence of any people of colour in the top management structure of the group. Apart...

Investment of the week - Coronation Top 100.
November 24, 2006... (From Financial Mail) Byline: Stafford Thomas Investment of the week Who it's for: Long-term investors seeking an actively managed unit trust investing only in big-cap shares. Income not a priority. How risky: Big caps generally...

NETCARE. A fair prognosis Richard Friedland.
November 24, 2006... (From Financial Mail) Byline: Shoks Mzolo NETCARE A fair prognosis Richard Friedland Feeling bullish Netcare, SA's largest private healthcare provider, has produced fair to middling year-end results. Some analysts were disappointed...

Wait and see. HOLD. HEALTH CARE EQUIPMENT & SERVICES NETCARE.
November 24, 2006... (From Financial Mail) Wait and see HOLD HEALTH CARE EQUIPMENT & SERVICES NETCARE Ord price R12,80 Market cap R22,7bn Div yield 2,12% 12-month high R13,18 PE ratio 23,65 Sector PE 22,9 Low 651c Year to Sep 30 Turnover Rbn Operat-ing...

Splashing out. BUY. PLATINUM. LONMIN.
November 24, 2006... (From Financial Mail) Byline: Brendan Ryan Splashing out BUY PLATINUM LONMIN Ord price R415 Market cap R59,3bn Div yield 1,78% 12-month high R466 PE ratio 24,3 Sector PE 22,7 Low R168 Year to Sep 30 Turnover $m Operat-ing profit $m...

We are not alone Mthombothi's.
November 24, 2006... (From Financial Mail) Byline: Steuart Pennington We are not alone We need a rallying call for the nation, a pledge to do our bit, whether it be a refusal to buy stolen goods or simply not littering I found the editorial We need a...

REAL PEOPLE DOING UNREAL THINGS. No smoking grass.
November 24, 2006... (From Financial Mail) Byline: Heather Formby REAL PEOPLE DOING UNREAL THINGS No smoking grass Jason Lucas Thatcher THE UNREALITY CHECK He trained with a master thatcher and has the world's most recognised thatching company He's...

Riding high. BUY. COMPUTER SERVICES. PARACON.
November 24, 2006... (From Financial Mail) Byline: Stafford Thomas Riding high BUY COMPUTER SERVICES PARACON Ord price 175c Market cap R695m Div yield 4,6% 12-month high 182c PE ratio 15,1 Sector PE 19,7 Low 115c Year to Sep 30 Turnover Rm Operat-ing...

COST TO BUSINESS. Pillaged, pirated and plucked. RETAIL.
November 24, 2006... (From Financial Mail) Byline: Chris Gilmour COST TO BUSINESS Pillaged, pirated and plucked RETAIL The cost of crime to the consumer goods retail sector amounts to a staggering R4,1bn (including efficiency losses), according to...

LME copper price and stocks.
November 24, 2006... (From Financial Mail) Copper demand in China is unlikely to surge before March 2007, when new state power projects are set to kick off and manufacturing production is expected to rise. Reduced world copper prices spurred Chinese...

Gold.
November 24, 2006... (From Financial Mail) Gold fell below $618/oz last week, weighed down by a stronger US dollar, which resulted in the metal being more expensive for holders of other currencies. Physical buying was almost nonexistent, with demand from...

TELECOMS. A brave move.
November 24, 2006... (From Financial Mail) Byline: Larry Claasen TELECOMS A brave move Technology group DataPro's acquisition of Orion Telecom broadens its footprint in an increasingly uncertain telecommunications market. The deal elevates AltX-listed...

Reserve Bank's CPIX forecast.
November 24, 2006... (From Financial Mail) Byline: Sven Lunsche The Reserve Bank's fan chart, issued with its biannual Monetary Policy Review (MPR), has become a barometer of inflation expectations for the next few years. The chart uses bands to depict...

Global M&A volumes.
November 24, 2006... (From Financial Mail) Byline: Sven Lunsche In a matter of one day November 19 companies and investors around the world announced US$75bn worth of deals, bringing the total value of merger & acquisition (M& A) activity so far this...

URANIUM. Simmers succumbs to Toronto temptation.
November 24, 2006... (From Financial Mail) Byline: Brendan Ryan URANIUM Simmers succumbs to Toronto temptation Gordon Miller Canadian investors understand uranium Marginal SA gold producer Simmer & Jack (Simmers) is heading full-tilt into the booming...

Life's tougher.
November 24, 2006... (From Financial Mail) Byline: Stafford Thomas Life's tougher WHAT IT MEANS Less than optimum sector selection hurts Boutiques and giants tussle for top spot Love affair with the banking sector has led to manager underperformance...

THE PLACE TO BE OR NOT TO BE. Cocktails with my driver. SAXON.
November 24, 2006... (From Financial Mail) Byline: Stuart Theobald THE PLACE TO BE OR NOT TO BE Cocktails with my driver SAXON Where Sandhurst Identity Well-heeled, languid I guess you're meant to feel awed when you stray into the terrain of the very...

Bren crude - US$/barrel.
November 24, 2006... (From Financial Mail) Oil prices rose by 6% last week as the International Energy Agency said it expected world demand to increase by 2,4m barrels/day in the fourth quarter of 2006. An unexpected decline in US stocks and hints that Opec...

CLAIMS The sharp end.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston CLAIMS The sharp end With more than 50 staff, claims is the largest part of the group by headcount. Executive head of claims Lisa Teixera says it is during the claims process that the...

Small is cool WHAT IT MEANS Large managers are splitting into silos There are risks to cultural change George Brits House view no longer relevant Every fund manager wants to adopt a boutique model. Does it make sense? There has been a wave of.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston Small is cool WHAT IT MEANS Large managers are splitting into silos There are risks to cultural change George Brits House view no longer relevant Every fund manager wants to adopt a...

CORPORATE BUSINESS Land of the giants.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston CORPORATE BUSINESS Land of the giants Anwa Adams Wide spread of clients Lion of Africa's corporate division looks after larger risks such as para statals, mining, petrochemical ventures...

MARINE INSURANCE From oranges to cellphones.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston MARINE INSURANCE From oranges to cellphones Elesh Bisla Right risk management processes needed Three years ago Lion of Africa set up its marine division, and it has enjoyed considerable...

MUNICIPAL INSURANCE Taking on city hall.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston MUNICIPAL INSURANCE Taking on city hall It was logical that a BEE company should focus on the municipal insurance segment, as there was a clear demand to work with BEE partners long...

From District Six to Houghton.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston From District Six to Houghton Lion of Africa was first thought of at the kitchen table of its current chairman Fred Robertson at his kitchen table in Cape Town. Robertson, a successful...

SALES A growing footprint.
November 24, 2006... (From Financial Mail) Byline: Stephen Cranston SALES A growing footprint Haydn Marchant Putting profitability of volumes The biggest potential pool of business for Lion of Africa is in the commercial market, which it accesses...