Insight
Sep 09 2010 00:00
GOVERNMENT’S BEHAVIOUR during the public sector strike has, at best, confirmed how little it understands the public sector wage bill and, at worst, has highlighted the way the system protects the real fat cats who are paid the most and earn huge salaries and bonuses, no matter how dismal their performance.
Insight
Sep 09 2010 00:00
THE PROPOSED TAKEOVER by Bonatla Property Holdings of all the property investments promoted by Sharemax is certainly one of the most amusing proposals yet in South Africa’s financial history. For a start, Bonatla’s current market value is around R45m. The group’s shares are currently trading at about 9c. Earlier this year they were trading at 12c/share. The value of the Sharemax properties and the various loan accounts – that is, the man in the street’s investments in its promotions, such as Zambezi and The Villa – are pencilled in at R4,99bn for the purposes of the transaction.