Financial Mail articles from November 2009

Financial Mail archives from November 2009

DID YOU HEAR?
November 27, 2009... A grocer, while delivering orders in his station wagon, runs down and injures an old woman. The woman sues and is awarded an amount large enough to drive the man out of business. After difficult times, he manages to accumulate enough to try...

A fee for what's free.
November 27, 2009... Byline: DUNCAN McLEOD A fee for what's free Rupert Murdoch, the leader of News Corp, is on a mission to get people to pay for his company's journalism. He's even threatening to pull News Corp content off Google and to do an exclusive deal...

Value for money.
November 27, 2009... Byline: NAZMEERA MOOLA Value for money A scary thing happened to me this weekend. I wandered around a supermarket in London and thought prices did not look that expensive. Historically, the automatic comparison my brain makes between SA and...

Learning lessons from recession.
November 27, 2009... Learning lessons from recession People are incurable pessimists or optimists. It all depends on the timing. In the boom years it is hard to find someone who believes there will ever be a recession again and the longer the boom, the more...

Benefits flow from decisive action.
November 27, 2009... Benefits flow from decisive action There comes a point even in a consultative democracy, even if factions in a ruling party have to be placated when a government has to act decisively. In SA, as the recent international report by the 2030...

Black(Berry) power.
November 27, 2009... Byline: BARNEY MTHOMBOTHI Black(Berry) power Acres of space were taken up in the media by a debate shortly after the US election on whether Barack Obama should be allowed to keep his BlackBerry in the White House. It's the sort of innocuous...

Show us the money.
November 27, 2009... Byline: Zweli Mabaso Show us the money Thank you for your article Playing politics (Features November 20). As a country we have great development institutions, among them the National Youth Development Agency (NYDA). As these institutions...

Parastatal politics.
November 27, 2009... Byline: DUDU MSOMI Parastatal politics The search for a new chairman and CEO is on again at Eskom. Candidates considering these posts must appreciate that parastatals operate under scrutiny and are exposed to a range of external pressures....

Another Week.
November 27, 2009... Another Week AT HOME GDP rose 0,9% y/y in Q3, after three quarters of negative growth, suggesting the recession has bottomed. Inflation was expected to have slowed to 5,9% last month from September's 6,1%. The rand strengthens to R7,46/US$1,...

BUSINESS CONNEXION. The right connections.
November 27, 2009... Byline: Larry Claasen BUSINESS CONNEXION The right connections Investors and analysts have taken a shine to Business Connexion (BCX). This is despite a decline in profit and a reduction in operating cash flow in its latest set of results. ...

TRUSTCO GROUP - SPECIALITY FINANCE.
November 27, 2009... Byline: Larry Claasen TRUSTCO GROUP SPECIALITY FINANCE Price: 60c 6m Sept T/O(N$m) EBT($m) EPS (c) DPS (c) Mkt cap: R431m 2009 275 26,5 8,93 PE: 3,73 2008 222 14,1 6,51 Sector: 13,61 t s +24% +88% +37% The lone company listed on the JSE's...

GOVERNMENT EMPLOYEES PENSION FUND. Taking the high ground.
November 27, 2009... Byline: Stephen Cranston GOVERNMENT EMPLOYEES PENSION FUND Taking the high ground Until recently the R750bn Government Employees Pension Fund (GEPF) was happy to keep a low profile. When you look at its website, there is little information on...

ADVERTISING AGENCY OF THE YEAR. OGILVY JOHANNESBURG. Goliath fights back.
November 27, 2009... Byline: Matebello Motloung ADVERTISING AGENCY OF THE YEAR OGILVY JOHANNESBURG Goliath fights back Long-term success and consistency are the keys last year's battle was billed as David vs Goliath, FoxP2 against Ogilvy Johannesburg, to be our...

NEW BROOM: UP-AND-COMING STAR. KHAYA DLANGA. Leader of the herd.
November 27, 2009... Byline: Matebello Motloung NEW BROOM: UP-AND-COMING STAR KHAYA DLANGA Leader of the herd Being a nonconformist has made this creative stand out and be noticed When you look at traditional advertising people, Khaya is definitely at the...

BRANDING CASE STUDY. Why imperialism wasn't enough its name to Europcar. It was a bold move, given that Imperial was an established, successful, 30-year-old brand. CEO Dawn Nathan-Jones spoke to AdFocus to explain why and how.
November 27, 2009... Byline: Dawn Nathan-Jones BRANDING CASE STUDY Why imperialism wasn't enough Imperial Car Rental this year changed its name to Europcar... This was a bold move given that Imperial was an established, 30-year-old brand. CEO explains why and...

CONSULTANCIES. Waste not, want not.
November 27, 2009... Byline: David Furlonger CONSULTANCIES Waste not, want not Lack of respect and understanding can be a costly mistake advertisers are wasting up to 25% of the money they spend with their agencies through poor management and sloppy advertising...

DIRECT MARKETING. On the comeback trail.
November 27, 2009... Byline: Sharda Naidoo DIRECT MARKETING On the comeback trail Being measurable and cost-effective, direct marketing is proving irresistible to budget-conscious marketers direct marketing is back in vogue. It's seen as sexy again. For decades,...

CRISIS MANAGEMENT. Learning from adversity.
November 27, 2009... Byline: David Williams CRISIS MANAGEMENT Learning from adversity The Parktown experience is a lesson for all institutions brand damage can hit any institution, at any time and without warning. When Parktown Boys' High School, in Johannesburg,...

PRO BONO ADVERTISING. For the good of all.
November 27, 2009... Byline: Matebello Motloung PRO BONO ADVERTISING For the good of all The feel-good factor also gives agencies the freedom to experiment creatively when advertising agency Leo Burnett launched a campaign in 2005 in search of a pro bono client,...

ADVERTISING MEDIA. The twain shall meet.
November 27, 2009... Byline: David Williams ADVERTISING MEDIA The twain shall meet The rise of new media does not have to spell the death of the old the American writer Mark Twain once wrote: A cousin of mine was seriously ill two or three weeks ago in London,...

DIGITAL AGENCY OF THE YEAR. GLOO . Upper Case.
November 27, 2009... Byline: David Furlonger DIGITAL AGENCY OF THE YEAR GLOO Upper Case It's been another outstanding year for Gloo Gloo makes a compelling Case to be the AdFocus 2009 Digital Agency of the Year. Or perhaps that should be: Case makes a compelling...

AGENCY LEADER OF THE YEAR. RAVI NAIDOO. Design's Energiser bunny.
November 27, 2009... Byline: Matebello Motloung AGENCY LEADER OF THE YEAR RAVI NAIDOO Design's Energiser bunny His passion for creativity is making him a force to be reckoned with after two weeks of trying to get hold of Ravi Naidoo, who I'm told spends at least...

MEDIA AGENCY OF YEAR. INITIATIVE MEDIA. Marc-et success.
November 27, 2009... Byline: David Furlonger MEDIA AGENCY OF YEAR INITIATIVE MEDIA Marc-et success Despite recession, top media agencies have shown good growth this year Probably, Marc Taback will never let us forget it. In the last-minute panic that...

Lifetime achievement. John Hunt and Reg Lascaris. When advertising went pair-shaped.
November 27, 2009... Byline: David Furlonger When advertising went pair-shaped After 26 years in tandem, these two still haven't grown tired of the sight of each other I got a call from someone at government's heraldry department, asking if we could design a new...

REVIVING A BRAND. Waking the dead.
November 27, 2009... Byline: David Furlonger REVIVING A BRAND Waking the dead Can a collapsed bank be returned to former glory? What they do must be totally focused. The message must be serious, not frivolous JEREMY SAMPSON how do you resuscitate a corporate...

A right royal mess.
November 27, 2009... A right royal mess The loss of trust in RBS reflected more than just financial collapse. It was also personal, with former CEO Sir Fred Goodwin cast in the role of pantomime villain. A month before the record GBP24,1bn loss was announced, Sir...

ALPHABET SOUP.
November 27, 2009... ALPHABET SOUP Type of agency Media consultancy Telephone (011) 880-8655 Website www.alphabet-soup.co.za Key person Nikki Lewin, MD Ownership 100% local Black equity 0% Accounts gained 4 Accounts lost 1 Clients 19 Number of staff 6 Biggest...

AQUAONLINE.
November 27, 2009... AQUAONLINE Type of agency Digital Telephone (011) 750-7301 Website www.aquaonline.com Key person Brent Shahim, MD Ownership WPP (Int) 70%; Memeza QRX 30% Black equity 30% Accounts gained 4 Accounts lost 0 Clients 18 Staff 99 Biggest clients MTN,...

ATMOSPHERE COMMUNICATIONS.
November 27, 2009... ATMOSPHERE COMMUNICATIONS Type of agency Public relations Telephone (021) 461-2117 Website www.atmosphere.co.za Key person Nicola Nel, MD Ownership Nicola Nel 60%; King James execs 40% Black equity 0% Accounts gained 9 Accounts lost 1 Clients 19...

BLACK RIVER FC.
November 27, 2009... BLACK RIVER FC Type of agency Advertising Telephone (011) 482-7625 Website www.blackriverfc.co.za Key person Ahmed Tilly, executive creative director Ownership Jupiter Drawing Room CT 88%; other 12% Black equity 33% Accounts gained 2 Accounts...

BRANDSH.
November 27, 2009... BRANDSH Type of agency Digital Telephone (011) 883-7123 Website www.brandsh.com Key person Angus Robinson, CEO Ownership 100% local Black equity 0% Accounts gained 5 Accounts lost 0 Clients 10 Staff 14 Biggest clients Standard Bank, loveLife,...

CROSS COLOURS.
November 27, 2009... CROSS COLOURS Type of agency Advertising Telephone (011) 459-0600 Website www.crosscolours.co.za Key person Adelle Wapnick, MD Ownership Directors 100% Black equity 0% Accounts gained 7 Accounts lost 2 Clients 11 Staff 28 Biggest clients...

Did you hear?
November 20, 2009... A man is pulled over for running a stop sign. When the cop checks his driver's licence, he says: You're wearing glasses on your ID but you're not now. I'm going to have to give you a ticket. The guy says: Officer, I have contacts. The cop says:...

Walking the talk.
November 20, 2009... Byline: Nazmeera Moola Walking the talk I watched a friend's daughter take her first steps this weekend. After several attempts to stand and several hard thunks back onto the carpet, she eventually managed a few shaky steps before falling...

If the debate is real, it's dangerous.
November 20, 2009... If the debate is real, it's dangerous Coke Stevenson, a legendary governor of Texas in the 1940s, was often criticised for allowing too much undisciplined discussion in the state legislature. He preferred lighting his pipe to intervening in...

Gold as a hedge remains alluring.
November 20, 2009... Gold as a hedge remains alluring Two months ago, the International Monetary Fund approved sales of 400t of gold, less than 15% of its gold reserves. Its purpose was to place its finances on a sound footing and ensure it would have sufficient...

Signal failure.
November 20, 2009... Byline: BARNEY MTHOMBOTHI Signal failure The traffic lights at the entrance to Megawatt Park, the headquarters of Eskom, the beleaguered parastatal, were out of order on and off for the better part of last week. It's a fact rich in metaphor....

AFRICA CELLULAR TOWERS. INDUSTRIAL METALS STEEL.
November 20, 2009... Byline: Larry Claasen AFRICA CELLULAR TOWERS INDUSTRIAL METALS STEEL Price: 50c 6m Aug T/O (Rm) EBT (Rm) EPS (c) DPS (c) Mkt cap: R185,14m 2009 149,7 -38,4 -11,8 PE: -7,35 2008 238,5 47,4 14,4 Sector: 15,47 t s -37% The slowdown in the mobile...

Another week. At home. Abroad. Sport.
November 20, 2009... Another Week AT HOME Gold sets a new record high of US$1134,7/oz driven by dollar weakness, while the rand strengthens to R7,38/$1. The ANC and its allies agree to look at broadening the Reserve Bank's mandate beyond merely tackling inflation,...

Confusion at Capitec.
November 20, 2009... Confusion at Capitec After reading your article on Capitec Bank (Cover Story November 6) I decided to invest with it. I phoned and asked for details on how to open an investment account. Details were given by head office. As I live near the...

THE UGLY DUCKLING. CHEMICAL SPECIALITIES.
November 20, 2009... Byline: Larry Claasen THE UGLY DUCKLING CHEMICAL SPECIALITIES 1. Cash positive - 2. Revenue up + 3. Share ignored - 4. Dividend paid - 5. Profitable + Chemical Specialities is something of a rarity in these difficult times. It is a company...

Hogan wins power play.
November 20, 2009... Byline: Carol Paton THE POLITICS Hogan wins power play As the political fog lifts a little, public enterprises minister Barbara Hogan has come out looking good. After weeks of strife at Eskom, including the uninvited political intervention of...

Mayday, mayday.
November 20, 2009... Byline: David Williams GOVERNANCE Mayday, mayday Warnings were made early on but were ignored. Who should take blame for the mess now? And how can government avoid a repetition? About a year before the huge power cuts that crippled much of...

More hot air.
November 20, 2009... Byline: Claire Bisseker WHAT SA'S ENERGY MIX SHOULD BE More hot air The need for a national planning commission is clearly demonstrated by SA's blinkered energy policy WHAT IT MEANS SA's energy policy misses the mark. Climate change ignored...

Diamonds & Dogs. Diamond: Stefanutti Stocks. Dog: Africa Cellular Towers.
November 20, 2009... Byline: Jamie Carr DIAMONDS & DOGS 's picks of the week Diamond: Stefanutti Stocks This has been another remarkably solid performance from the newly merged construction group, showing the benefits of its increased scale which now allows...

Military signals.
November 20, 2009... Byline: DUNCAN McLEOD Military signals The department of communications has called a colloquium this week to seek public input on national broadband policy. Previously, it would have been little more than a talk shop. But something...

Economic Indicators.
November 20, 2009... 1143 dollars/ounce Gold futures on the New York Mercantile Exchange soared to a new high this week, as the dollar slid to a 15-month low. The dollar index, a gauge measuring its value against other major currencies, dropped 0,9% to 74,75. 7...

Interest rates.
November 20, 2009... Byline: Razina Munshi Interest rates New Reserve Bank governor Gill Marcus left interest rates unchanged at 7% this week, a move expected by economists. Marcus, who took the reins from Tito Mboweni this month, chaired her first monetary...

Creative troika.
November 20, 2009... Byline: Matebello Motloung ADVERTISING Creative troika It's been described as one of the best advertisements ever the 2004 SABC1 Yamampela TV commercial that showed the roles of black and white South Africans being reversed. And now the...

Digging deeper.
November 20, 2009... Byline: Sasha Planting FOOD PRICES Digging deeper The issues are complex and capping prices would not help WHAT IT MEANS MPs tend to simplify the solutions. Much has been achieved so far. The controversy over food prices has abated...

Room at the inn.
November 20, 2009... Byline: Thebe Mabanga TOURISM Room at the inn Owners of accommodation establishments will be able to cash in on next year's soccer World Cup, even if their establishments are not graded. Parliament's portfolio committee on tourism was...

Get the politics right.
November 20, 2009... Byline: Claire Bisseker INDUSTRIAL POLICY Get the politics right Has the trade liberalisation that SA embarked on in the 1990s transformed production and exports away from mining and other commodities? The department of trade & industry...

Unplugged for too long.
November 20, 2009... Byline: Matebello Motloung ICASA Unplugged for too long The Independent Communications Authority of SA (Icasa) is in a race to clean up its house before it appears again before the parliamentary communications portfolio committee in three...

Seedy deals exposed.
November 20, 2009... Byline: Shannon Sherry GRAIN TRADING Seedy deals exposed Agricultural processing giant Senwes is considering its options, after failing in the appeal court to overturn a competition tribunal finding of anticompetitive conduct in its grain...

Playing politics.
November 20, 2009... Byline: Thebe Mabanga YOUTH AGENCY Playing politics The National Youth Development Agency (NYDA), the body formed through the merger of the Umsobomvu Youth Fund and the Youth Commission, appears to have made little attempt to extricate itself...

All's fare in the art world.
November 20, 2009... Byline: David Furlonger STANDARD BANK NATIONAL ARTS FESTIVAL All's fare in the art world Organisers of SA's premier annual arts festival are taking precautionary measures to minimise cost escalation caused by higher airfares during next...

Betwixt and between.
November 20, 2009... Byline: David Furlonger Betwixt and between The International Marketing Council of SA (IMC), the parastatal responsible for SA's international marketing and communications strategy, is in limbo. Since the dismissal of the former board by...

Battle over, war goes on.
November 20, 2009... Byline: Thebe Mabanga PARLIAMENT Battle over, war goes on Now that the question of who will head the National Planning Commission (NPC) has been settled, a fresh battle, one hopes is based on ideas rather than personalities, has to be waged...

101.
November 20, 2009... Byline: Claire Bisseker What is a Tobin tax? Nobel laureate James Tobin (1918-2002) invented the Tobin tax a tax on foreign exchange transactions to control speculative capital flows which, because of their large size and the speed with which...

The prawn identity.
November 20, 2009... Byline: Zohra Mohamed ENTREPRENEUR The prawn identity Prawns are a classic favourite on many menus, and so it's no surprise that Sooveir Rajkumar's Meatalicious (trading as the Boastful Butcher) was named Business of the Year recently, taking...

Be a weather forecaster.
November 20, 2009... Byline: Robert Quarshie GIMME Be a weather forecaster If you do not want to be caught without a brolly or have that golf date washed out, it could make sense to get your own mini-weather station. The Oregon Scientific Easy Weather Station...

Boschendal jewels for sale.
November 20, 2009... Byline: Ian Fife PROPERTY Boschendal jewels for sale WHAT IT MEANS Benchmark price for future sales could be set. Auction suits Nedbank, which is owed R200m. The SA property market has turned and owners of 2240ha wine farm Boschendal...

New vision at Telkom.
November 20, 2009... Byline: Prakash Naidoo PROFILE New vision at Telkom With the unbundling of its stake in Vodacom and the promise of good first-quarter earnings, new Telkom chairman Jeff Molobela believes his arrival as head of the board is perfectly timed to...

A world of experience.
November 20, 2009... Byline: Stephen Cranston STANDARD BANK'S NEW CHAIRMAN A world of experience Fred Phaswana is the first black chairman of Standard Bank. But his appointment is not the historic break with the past that it might seem. For years, the...

Reality checkpoint.
November 20, 2009... Byline: Zohra Mohamed THE PLACE TO BE OR NOT TO BE Reality checkpoint THE ANNE FRANK ROOM Where: Durban Holocaust Centre, 44 Old Fort Road. Mood: Thought-provoking One has an eerie feeling entering the Anne Frank room in the Durban Holocaust...

Concrete jungle.
November 20, 2009... Byline: Jacqui Pile QUESTIONS & ANSWERS Concrete jungle Cement producer PPC has confessed to the competition commission to being part of a cartel. asks CEO Paul Stuiver to explain Why did you decide to blow the whistle on the cement...

Quote of the week. Barack Obama US President delivering his Asian policy speech in Tokyo.
November 20, 2009... QUOTE OF THE WEEK No one nation can meet the challenges of the 21st century on its own. We welcome China's appearance on the world stage. The US does not seek to contain China... The rise of a strong and prosperous China can be a source of...

Intelligent approach to health.
November 20, 2009... Byline: Thebe Mabanga WHERE ARE THEY NOW? Intelligent approach to health Not many people can claim to have contributed to shaping democratic SA in fields as diverse as intelligence and public health, but Fazel Randera has done exactly that....

Officials' pay in numbers.
November 20, 2009... Byline: Thebe Mabanga Officials' pay in numbers R2,25m President Jacob Zuma's salary, backdated to April 1, after a 7% increase. This is R21000 less than if he'd accepted the recommended 8% pay rise. R2,03m Deputy president Kgalema...

Bigger role wanted.
November 20, 2009... Byline: Carol Paton MUNICIPAL WORKERS Bigger role wanted The SA Municipal Workers' Union (Samwu) is gearing up to play a more active role in the affairs of individual municipalities and to have a greater hand in policy making, following the...

Resources to rise.
November 20, 2009... Byline: Garth Mackenzie JSE Resources to rise Resources shares have underperformed the broader market since the March lows while industrial and financial shares have led the recovery. The recent performance of the JSE resources sector...

A long time coming.
November 20, 2009... Byline: Muzi Maziya A long time coming Not all labour brokers are to blame, but many exploit joblessness to further undermine worker rights and security Your article on labour law (Cover Story November 13) was refreshing for its careful...

Agricultural levies a rip-off.
November 20, 2009... Byline: Peter Gordon Grant Agricultural levies a rip-off A few years back our forward-thinking government passed a bill that now allows municipalities to levy rates and taxes on agricultural ground; that is, farms. The ball was thrown into...

The passionate cook.
November 20, 2009... Byline: Peter Wilhelm CINEMA The passionate cook Meryl Streep shows once again why she is considered a modern American national treasure Julie & Julia Written and directed by Nora Ephron Lead roles: Meryl Streep, Amy Adams, Stanley Tucci...

Blackened by fire.
November 20, 2009... Byline: JUSTICE MALALA FOOD FOR THOUGHT Blackened by fire **** Signature Shop U13 Morningside Shopping Centre, Corner Outspan and Rivonia, Morningside. Tel: 087-940-3880 ***** Obama **** Excellent *** Good ** Poor * Malema Black business...

Jagged edge.
November 20, 2009... Byline: David Furlonger MOTORING Jagged edge WHAT IT COSTS: from R565000 to R955000 It's not a real Jaguar, said my lovelier wife (with apologies to Justice Malala) when I pulled up outside our home in the new XF. There's no leaping jaguar on...

Chite shows his mettle.
November 20, 2009... Byline: Robert Quarshie THE FM INTERVIEW Chite shows his mettle talks to ArcelorMittal legal eagle Ben Chite about alleged steel pricing collusion and how to save R692m HOW HE CHILLS At Blair Athol Golf Estate, if not spending time at home...

Grown-up gastronomy.
November 20, 2009... Byline: Anna Trapido EATING OUT Grown-up gastronomy sorts the golden-oldie culinary men from the boys DIAL 'EM UP Le Souffle: Tel: (011) 465-4116. Le Canard: Tel: (011) 884-4597. Emily's: Tel: (021) 421- 1133. Topsi & Co: Tel: (021)...

Out of tune on two counts.
November 20, 2009... Byline: David Williams RUGBY Out of tune on two counts The mangled national anthem before the test in Toulouse last Friday may not have actually caused the Springbok defeat by France (20-13), but it certainly created the mood. There have been...

Rapid repositioning.
November 20, 2009... Byline: Andrew McNulty BARLOWORLD Rapid repositioning Asset management has helped counter the steep downturn in key markets WHAT IT MEANS Equipment orders slumped in Iberia. A successful auto strategy helped. Less than two years ago...

BARNARD JACOBS MELLET. INVESTMENT SERVICES.
November 20, 2009... Byline: Stephen Cranston BARNARD JACOBS MELLET INVESTMENT SERVICES Price: 395c 6m Sep Inc (Rm) EBT (Rm) EPS (c) DPS (c) Mkt cap: R395m 2009 215 15,8 12,5 10,0 PE: 8,8 2008 232 17,8 10,9 17,0 Sector: 11,2 t s -7% -11% +15% -41% Costs were cut...

BUILDMAX. BUILDING MATERIALS & FIXTURES.
November 20, 2009... Byline: Razina Munshi BUILDMAX BUILDING MATERIALS & FIXTURES Price: 70c 6m Aug T/O (Rm) EBT (Rm) EPS (c) DPS (c) Mkt cap: R728,5m 2009 957,3 88,8 3,2 PE: 9,09 2008 755,3 166,5 11,7 Sector: 9,17 t s +26,7% -46,6% -72% With fortunes closely...

Holding their own.
November 20, 2009... Byline: Razina Munshi CONSTRUCTION SMALL-CAPS Holding their own Despite accusations of anticompetitive behaviour, recent results show that big players in SA's construction sector haven't kept all the spoils of the infrastructure boom to...

Sharp turn in fortunes.
November 20, 2009... Byline: Stephen Cranston CORONATION FUND MANAGERS Sharp turn in fortunes In its first half, which ended just three weeks after the bottoming of the markets in March, Coronation's EPS were down 16%. Its earnings are closely tied to its assets...