Financial Mail articles from October 2006, page 2

Financial Mail archives from October 2006

THE FM INTERVIEW The view that matters HOW HE CHILLS.
October 27, 2006... (From Financial Mail) Byline: Claire Bisseker THE FM INTERVIEW The view that matters HOW HE CHILLS Loves Harley-Davidson bikes and doing the salsa Spends quality time at his Greyton holiday house catches up with rand sage Jos Gerson...

SOCCER Cheers for the 10th cup.
October 27, 2006... (From Financial Mail) Byline: Mark Gleason SOCCER Cheers for the 10th cup In Lusaka last Saturday, Zambia won the Cosafa (Council of Southern Africa Football Association) Castle Cup, marking the 10th year of a largely unheralded but...

WINE Worth a good whine.
October 27, 2006... (From Financial Mail) Byline: Neil Pendock WINE Worth a good whine SA wine competitions are beasts. Often, if you turn the ranking list upside down, they make more sense. The Veritas National Wine Show is a case in point: 1673...

Out of context.
October 27, 2006... (From Financial Mail) Byline: Gugu Moloi Out of context In your story on Sasol's executive appointments (Features October 20) you quote me as saying at the Black Management Forum (BMF) conference that I had been approached by Sasol...

ALEXANDER FORBES Bid comes in 'too low'.
October 27, 2006... (From Financial Mail) Byline: Stephen Cranston ALEXANDER FORBES Bid comes in 'too low' The bid for Alexander Forbes from a private equity consortium led by Actis (the former Commonwealth Development Corp), at R16,59/share, came in at...

ALTX Plugged in and humming.
October 27, 2006... (From Financial Mail) Byline: Shareen Singh ALTX Plugged in and humming Ipsa has been eyeing the local power industry for years, but it has yet to make an impact. Now Independent Power Southern Africa is on the JSE's AltX the only...

ASSET CLASSES (5): PROPERTY The long recovery.
October 27, 2006... (From Financial Mail) Byline: Ian Fife ASSET CLASSES (5): PROPERTY The long recovery WHAT IT MEANS Cross-border investment is soaring The SA market is still catching up Donald Gordon Patient accumulator Property is the ideal...

BANKS Snug in the low-cost niche.
October 27, 2006... (From Financial Mail) Byline: Heather Formby BANKS Snug in the low-cost niche Riaan Stassen and Leon Kirkinis Set to grow, driving down costs We don't like to classify our market by race or income group. We just want to supply basic...

THE CAPITEC MODEL.
October 27, 2006... (From Financial Mail) THE CAPITEC MODEL Easy and accessible Capitec's strategy is to provide banking products and services for the customer, not for the bank. Its branches are open at convenient times (some until 6.30pm) and are close to...

PPC Earnings not yet set.
October 27, 2006... (From Financial Mail) Byline: Nicky Smith PPC Earnings not yet set Cement imports' effect on PPC's earnings will not be determined by the rand-dollar exchange rate alone. There are also factors like breakages en route, says chief...

CORRECTION.
October 27, 2006... (From Financial Mail) CORRECTION In last week's FM (Money & Investing October 20) we reported that private equity firm KKR had opened an office in SA. This is incorrect.

DIAMONDS No more blue skies.
October 27, 2006... (From Financial Mail) Byline: Brendan Ryan DIAMONDS No more blue skies Mining entrepreneur Rob Still has just listed his latest venture diamond exploration company Pangea Diamond Fields on London's Alternative Investment Market. It...

Diamond Edcon; Dog Local Government.
October 27, 2006... (From Financial Mail) Byline: Jamie Carr Diamonds & Dogs Diamond Edcon Edcon's brazen announcement that it has been sending smouldering glances and the occasional come-hither wink in the general direction of some undisclosed private...

Still cooking BUY RESTAURANTS & BARS FAMOUS BRANDS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour Still cooking BUY RESTAURANTS & BARS FAMOUS BRANDS Ord price R12,60 Market cap R1,1bn Div yield 2,8% 12-month high R13,99 PE ratio 14,4 Sector PE 19,1 Low 900c Six Months to Turnover Rbn...

HEDGE FUNDS Toes in the water.
October 27, 2006... (From Financial Mail) Byline: Stephen Cranston HEDGE FUNDS Toes in the water WHAT IT MEANS The SA industry is growing fast It's still tiny compared with the value of the JSE Rich individuals and offshore investors are more involved...

NEDBANK Goalposts in place.
October 27, 2006... (From Financial Mail) Byline: Heather Formby NEDBANK Goalposts in place Mike Brown Still confident that targets can be met In 2003, when Nedbank told the market it had to restructure and recapitalise, CE Tom Boardman promised that by...

LIFE OFFICES Don't relax just yet.
October 27, 2006... (From Financial Mail) Byline: Andrew McNulty LIFE OFFICES Don't relax just yet Vuyani Ngalwana Widened the debate Pressure on life assurers and their profit margins in SA activities will continue, despite the agreement reached with...

SMALL-CAP STOCKS Fall hard, bounce back.
October 27, 2006... (From Financial Mail) Byline: Andrew McNulty SMALL-CAP STOCKS Fall hard, bounce back Dave Redshaw Bytes has been a steady performer Can investors boost their equity returns by holding small-cap stocks? Given recent market trends,...

Hard to beat BUY REAL ESTATE: PROPERTY LOAN STOCK OCTODEC.
October 27, 2006... (From Financial Mail) Byline: Stafford Thomas Hard to beat BUY REAL ESTATE: PROPERTY LOAN STOCK OCTODEC Ord price R11,99 Market cap R939m Div yield 7,4% 12-month high R12,90 PE ratio 12,5 Sector PE 43,4 Low R8,25 Year to Aug Rental...

LISTED PROPERTY A stab in the back?
October 27, 2006... (From Financial Mail) Byline: Ian Fife LISTED PROPERTY A stab in the back? Did R1,5bn listed fund Paramount or its biggest shareholder, Absa, stab R7bn ApexHi and its asset manager, Madison, in the back? ApexHi and Madison thought...

REAL PEOPLE DOING UNREAL THINGS Sweeping ambition.
October 27, 2006... (From Financial Mail) Byline: Heather Formby REAL PEOPLE DOING UNREAL THINGS Sweeping ambition Zukiswa Matamo Mountain climber THE UNREALITY CHECK She's a domestic worker who lives in an informal settlement and has become a...

Global steel output.
October 27, 2006... (From Financial Mail) World crude-steel production increased 8,8% y/y to 101,4Mt in September, down from a revised 101,8Mt in August, the International Iron & Steel Institute (IISI) said last week. Chinese output in September declined to...

Another Week.
October 27, 2006... (From Financial Mail) Another Week SEGOLENE ROYAL, the favourite French Socialist Party presidential candidate, faces six months of tough campaigning after the French government announces that the first round of the presidential election...

Gold.
October 27, 2006... (From Financial Mail) Gold rose more than 2% last week, hitting a two-week high on Friday as it briefly breached the key psychological threshold of US$600/oz. The metal was supported by a crude oil price rise after Opec surprised the...

Brent crude.
October 27, 2006... (From Financial Mail) Oil prices rose towards the end of last week as Opec agreed to curb output by more than the market was expecting some members even noted that production could be cut yet again in December. Ministers agreed to cut...

farming income and debt.
October 27, 2006... (From Financial Mail) Byline: Sven Lunsche Though shrinking, the agricultural sector continues to provide an important source of income and employment for the SA economy. According to a 2005 survey of SA's 13100 largest farms, the...

Building plans passed.
October 27, 2006... (From Financial Mail) Byline: Sven Lunsche Building statistics released by Stats SA last week provide further evidence of the downturn in the property market. The value of building plans passed in August fell by 2,9% y/y to R4,2bn...

World FDI inflows.
October 27, 2006... (From Financial Mail) Byline: Sven Lunsche Developing countries continue to attract record amounts of foreign direct investment (FDI). The UN Conference on Trade & Development (Unctad) says a record US$334bn reached developing...

SMALL BUSINESS 1 Do as we say, not as we do.
October 27, 2006... (From Financial Mail) Byline: Sibonelo Radebe SMALL BUSINESS 1 Do as we say, not as we do WHAT IT MEANS More BEE charter funds are set to be channelled to SMMEs State will remain the key backer of SMMEs More needs to be done to...

QUESTIONS FOR ... Tozi Gwanya, chief land claims commissioner.
October 27, 2006... (From Financial Mail) QUESTIONS FOR... Tozi Gwanya, chief land claims commissioner FM: Aren't you using land owners as scapegoats to mask the failures of your officials? Gwanya: This is selective listening. You can go to my reports...

Randall Abrahams' Picks ».
October 27, 2006... (From Financial Mail) Randall Abrahams' Picks >> Randall Abrahams, the toughest M-Net Idols judge, writes his second monthly column on CDs and, occasionally, DVDs this week. He ran the commercial radio stations at the SABC (Good Hope...

QUOTE OF THE WEEK.
October 27, 2006... (From Financial Mail) Byline: Dali Mpofu QUOTE OF THE WEEK We must not be fooled. This battle is not about one or other commentator or a 'blacklist' or [Snuki] Zikalala. It is about wresting control of the SABC, of the hearts and...

CLARIFICATION.
October 27, 2006... (From Financial Mail) Byline: David Furlonger CLARIFICATION The FM ran a strap on the cover last week which stated MTN and Young & Rubicam part ways. To accurately reflect the story carried in the Fox section of the magazine, it...

BHP Billiton scoring high.
October 27, 2006... (From Financial Mail) Byline: Andrew McNulty BHP Billiton scoring high WHAT IT MEANS Disclosure is part of a larger value-set A business case for sustainability Vincent Maphai Improved standing Building a relationship of trust with...

Beyond profits.
October 27, 2006... (From Financial Mail) Byline: Andrew McNulty Beyond profits WHAT IT MEANS Business must meet stakeholder concerns All managers must be accountable Chip Goodyear 'Licence to operate' Sound sustainability performance and long-term...

The sectoral perspective.
October 27, 2006... (From Financial Mail) Byline: Andrew McNulty The sectoral perspective WHAT IT MEANS Taking social obligations to heart Resources sector ranks impressively Sectoral performances in accountability stakes vary widely For many...

How rankings were done.
October 27, 2006... (From Financial Mail) Byline: Andrew McNulty How rankings were done The evaluations and rankings for the Accountability Ratings were done by the Unisa Centre for Corporate Citizenship, using criteria developed and applied...

Measuring up globally.
October 27, 2006... (From Financial Mail) Byline: Andrew McNulty Measuring up globally Rankings of companies for their performance as corporate citizens needs to be seen in a global context, as well as from a local perspective. The accountability...

New rich targets.
October 27, 2006... (From Financial Mail) Byline: Stafford Thomas New rich targets WHAT IT MEANS Boom in high net-worth market BoE has range of services for old and new money Clive van Horen Giving attention to detail Vince Boulle A 'ferris wheel' of...

To guard and protect.
October 27, 2006... (From Financial Mail) Byline: Stafford Thomas To guard and protect Nico Botha Growth prospects excellent The new unit's speciality is implementation and maintenance BoE Private Clients has been in the fiduciary services game since...

Maximising returns.
October 27, 2006... (From Financial Mail) Byline: Stafford Thomas Maximising returns Sizile Mabaso TBS is set to channel donor funds to intended beneficiaries Each year vast sums of money are made available for social upliftment by public, private and...

Casting the net wider.
October 27, 2006... (From Financial Mail) Byline: Stafford Thomas Casting the net wider Deon Goosen High service levels and a keenly competitive fee structure are part of BoE Private Clients' soon-to-be-launched transactional banking service. Currently...

Top drawer.
October 27, 2006... (From Financial Mail) Byline: Stafford Thomas Top drawer Johann van Zyl Strict, rigorous investment process BoE aims to give best tailor-made products for less than competition No two families are alike and it is this uniqueness that...

STOCKBROKING.
October 27, 2006... (From Financial Mail) Byline: Stafford Thomas STOCKBROKING Not typically mainstream Geared to meet the demands of high net-worth (HNW) private investors, BoE Stockbrokers will venture an opinion when asked, says BoE Private Clients'...

Black gold.
October 27, 2006... (From Financial Mail) Byline: Stafford Thomas Black gold There is a steady growth in numbers of those who want to create wealth For many people entrusting their financial well-being to BoE Private Clients, preserving wealth is the...

Abundantly resilient. WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour Abundantly resilient WHAT IT MEANS Growing incubator of black skills Greener pastures ahead We have confidence and are poised for strong, sustained growth. This business will outlive all of...

Punching above its weight. WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour Punching above its weight WHAT IT MEANS State-of-the-art order management systems Survival of the fittest Dimitri Boyiatjis Risk-averse Diversity enables Legae Securities to compete with...

Relationship building. WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour Relationship building WHAT IT MEANS The firm prefers to know the client well Targeting aspirant black market There is a commitment to sustainable private client relationships Private-client...

LEGAE CAPITAL. Winning combination.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour LEGAE CAPITAL Winning combination Fatima Vawda Legae Capital was established in 2004 as a fund of hedge funds and is an authorised financial services provider in terms of the Fais Act....

Cream of the crop. WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour Cream of the crop WHAT IT MEANS There are strong recruitment strategies Retention of skills is key for the firm Lerato Monareng Keeping employees informed helps to make them feel needed At...

Ranking for accountability.
October 27, 2006... (From Financial Mail) Byline: Andrew McNulty Rating 2006 Company Score 2006 Sector 1 BHP Billiton 78,6 Resources 2 Anglo Platinum 70,1 Resources 3 Anglo American 69,4 Resources 4 Nedbank Group 67,4 Financials 5 Sasol 66,0 Oil & Gas...

Quality rules WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour Quality rules WHAT IT MEANS Maintenance of strong links with suppliers Customer feedback drives strategies Simon Susman Continuously reinventing the business Only when Michael Marks, the...

Growing lines WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour Growing lines WHAT IT MEANS Woolies is becoming a quality one-stop shop Customers wants greater choice of merchandise Richard Butt Unique combination of private label food/clothing plus...

The glue in the middle. WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour The glue in the middle WHAT IT MEANS Reduced distribution costs Highly sophisticated supply chain Norman Thomson Dealing with the impact of rising costs Operations plays a key role in...

Grooming brand carriers. WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour Grooming brand carriers WHAT IT MEANS The brand itself draws new employees Direct engagement with staff preferred Woolies seeks innovative ways to attract the right people for the job...

A self-selling brand. WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour A self-selling brand WHAT IT MEANS Products are of a high standard The business is based on consumer trust KEVIN STANFORD Quality is manifested at the point where the customer decides to...

Sustainable focus.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour Sustainable focus WHAT IT MEANS Compliance with code is audited Strong commitment to recycling From environment to governance a sustainability focus A common thread running through...

A pretty prime stock. WHAT IT MEANS.
October 27, 2006... (From Financial Mail) Byline: Chris Gilmour A pretty prime stock WHAT IT MEANS Share remains undervalued Financial services business improving Turnaround in clothing and huge roll-out of stores changes the picture Woolworths was...

Amnesty International.
October 20, 2006... (From Financial Mail) In defence of human dignity The body's relevance and methods are questioned Last year, at least 2148 people were executed in 22 countries. Ninety-four percent of all known executions took place in China, Iran, Saudi...

LABOUR COSTS A pricey place to get stuff done.
October 20, 2006... (From Financial Mail) LABOUR COSTS A pricey place to get stuff done Economist says poor education is cause of rising labour costs When you qualify for a job after graduation, you will be joining SA's labour force of about 16,7m people....

THE BURNING QUESTION.
October 20, 2006... (From Financial Mail) Byline: MODISE MPHUTI THE BURNING QUESTION Every year, students drop their books, shout slogans and burn tires to protest policies they say are unfair or exclusionary. This week, we debate the statement: Student...

Lagging behind on the information superhighway.
October 20, 2006... (From Financial Mail) Byline: Verashni Pillay Lagging behind on the information superhighway The digital divide is widening for SA universities, who are struggling to keep up An old joke told among librarians goes like this: If you...

Q & A Ask the Guru.
October 20, 2006... (From Financial Mail) Q & A Ask the Guru Q: How do people decide which companies to invest in? Is it just a matter of doing the research? A: Making an informed decision is important when it comes to investing. But many people make...

TALK ABOUT IT:.
October 20, 2006... (From Financial Mail) TALK ABOUT IT: 1)What are the direct effects of a hike in interest rates on the SA economy? 2)How is the interest rate used as a mechanism to control growth and inflation? 3)Why would a tight monetary policy over...

INTEREST RATES Slowly curbing spending spree.
October 20, 2006... (From Financial Mail) INTEREST RATES Slowly curbing spending spree Economists believe just one more rate hike on the cards The SA Reserve Bank once again decided to hike the repo rate by a further 50 basis points at its bi-monthly...

HEDGE FUNDS Playing against the odds.
October 20, 2006... (From Financial Mail) HEDGE FUNDS Playing against the odds Hedge funds can be a risky and lucrative investment engine People plant hedges to serve as barriers or walls for their gardens. Hedging literally means to use something as a...

SABC Scandal behind the scenes.
October 20, 2006... (From Financial Mail) SABC Scandal behind the scenes The state broadcaster is in trouble for political bias Scandal continues to rock the state broadcaster SABC. Recently a commission of inquiry found that the SABC blocked certain people...

SMART CARDS Teaching old dogs new tricks.
October 20, 2006... (From Financial Mail) SMART CARDS Teaching old dogs new tricks SA banks are reluctant to convert to the smart card system Being the first one to take the plunge is not easy. You may remember wanting to ask a question in class but staying...

TALK ABOUT IT:.
October 20, 2006... (From Financial Mail) TALK ABOUT IT: 1)How does competition benefit consumers? How can it be detrimental? 2)Has the supply curve in the airline industry shifted? 3)Why are other airlines worried that FlyMango.com will compete unfairly...

TALK ABOUT IT:.
October 20, 2006... (From Financial Mail) TALK ABOUT IT: 1)What impact would full regulation have on the hedge fund industry? 2)What are the financial pros and cons of investing in hedge funds? 3)What factors do fund managers consider when deciding what...

TALK ABOUT IT:.
October 20, 2006... (From Financial Mail) TALK ABOUT IT: 1)Why is it important that a state broadcaster remains objective and unbiased? 2)Why is a CEO responsible for wrongdoing in his company that he might not have even known about? 3)Who has the last word...

Work It.
October 20, 2006... (From Financial Mail) Byline: Robert Quarshie A research analyst works for a small company that plays with big money You need to be very investigative, analytical and understand numbers to have a good career in the financial...

YUMNA ANSWERS TEN ESSENTIAL QUESTIONS.
October 20, 2006... (From Financial Mail) Byline: Robert Quarshie YUMNA ANSWERS TEN ESSENTIAL QUESTIONS 1 What time do you get up in the morning? 5.45am. 2 What do you like the most about your job? Presenting my ideas. 3 What do you hate the...

Site of the week.
October 20, 2006... (From Financial Mail) nsite of the week www.crimexposouthafrica.org This is another grassroots site that uses the power of the Internet to sidestep traditional media. Crime Expo SA (Cesa) believes that government and SA Tourism are...

What is a Sunni?
October 20, 2006... (From Financial Mail) Byline: Prakash Naidoo What is a Sunni? The Sunnis believe that the first four caliphs Prophet Mohammed's successors took his place as the leaders of Muslims. They recognise the heirs of these caliphs as...

ECONOMIC INDICATORS - Manufacturing production.
October 20, 2006... (From Financial Mail) Byline: Sven Lunsche The manufacturing sector is coming under severe pressure. Growth in manufacturing production volumes fell to 4,2% y/y in August, from 5,9% in July, and is likely to decline further in the...

SAA More cheap flights.
October 20, 2006... (From Financial Mail) SAA More cheap flights New low-cost carrier will take to the skies next month What do you do if you're looking for a plane ticket to Durban or Cape Town? Maybe, like many people, you log on to the websites of South...

Mpofu should fall on his sword.
October 20, 2006... (From Financial Mail) Mpofu should fall on his sword Other than the brief honeymoon soon after SA's first democratic election in 1994, the SABC has always fallen short of the ethical heights its editorial charter demands of it. The...

SA's UN agenda.
October 20, 2006... (From Financial Mail) Byline: Barney Mthombothi BARNEY MTHOMBOTHI SA's UN agenda In foreign relations SA has not always spoken its mind its values at home often conflict with its actions abroad They were making whoopee at the Union...

Unfit to compete.
October 20, 2006... (From Financial Mail) Byline: Nazmeera Moola NAZMEERA MOOLA Unfit to compete Verwoerd's attitude of not educating the 'native' has permeated corporate SA. Manufacturers in China, by contrast, run onsite training facilities In 1951,...

Electrifying BUY ELECTRONICS & ELECTRICAL ALTRON.
October 20, 2006... (From Financial Mail) Byline: Stafford Thomas Electrifying BUY ELECTRONICS & ELECTRICAL ALTRON Ord price R31,49 Market cap R3,1bn Div yield 2,5% 12-month high R32,50 PE ratio 15,2 Sector PE 15,3 Low R19,40 Six months to Turnover Rbn...

What MBAs are worth.
October 20, 2006... (From Financial Mail) Byline: Doug Blackmur What MBAs are worth When will David Furlonger realise that the Council on Higher Education (CHE) (Cover Story October 13) does not tell us whether MBAs are worthless or not? Furlonger...

Give youngsters a chance.
October 20, 2006... (From Financial Mail) Byline: Jack Bloom Give youngsters a chance Wits Business School director Mthuli Ncube says he is considering whether admission to the MBA programme should be extended to include those without any work...

TALK ABOUT IT:.
October 20, 2006... (From Financial Mail) TALK ABOUT IT: 1)What are the advantages to banks of rolling out the smart card system? Do the advantages justify the expense? 2)Why will it take such a long time to implement the changeover? 3)What impact does...