Cover Story
Mar 18 2010 00:00
Call it the tenderpreneur dynasty. Bureaucrats, politicians and their families are vocal about having the right to have private business interests and to do business with the State. Their justification is simple: They're doing nothing wrong. And they're right. It's legal for politicians - who are private citizens - to do business with the State. It's also perfectly legal for public servants or their family to do business with the State if they get permission from the executive authority to do so.
Advertising & Marketing
Mar 18 2010 00:00
THE DIGITAL MEDIUM has caused a crisis of confidence in developed world marketing and media, says Miles Young, global CEO of Ogilvy & Mather Worldwide. "The United States is highly sophisticated but conflicted about its future because of the digital revolution. The industry as a whole hasn't responded to digital very sensibly and has lost a sense of where it's going.
Companies & Markets
Mar 18 2010 00:00
THE PROPOSED MERGER of gaming groups Gold Reef Resorts (GRR) and Tsogo Sun Holdings will create a massive casino entity that could use its stronger hand - and powerful cash flows - to make bold plays in South Africa and offshore. As a combined entity, GRR and Tsogo - which Finweek reckons should take the new guise GoldSun Holdings - would have generated EBITDA of around R3,5bn in 2009. That's significantly bigger than "market leader" Sun International, which in the year to end-June 2009 generated around R2,1bn in EBITDA.
Insight
Mar 18 2010 00:00
RECENT SHARE PRICE movements in ArcelorMittal South Africa (Amsa) and Kumba Iron Ore suggest it's inevitable the steelmaker will have to pay a higher price for its key raw material than it has over the past decade. However, analysts are concerned about the steelmaker's solvency should it be forced to immediately pay market-related prices for iron ore. But logic will prevail as Kumba - which supplies around 20% of its annual production to Amsa - would hardly want to cause the demise of one of its biggest clients.
Money Clinic
Mar 18 2010 00:00
DEVELOPERS AND ESTATE AGENTS are reporting renewed appetite for off-plan property purchases, as buy-to-let investors slowly but surely start to re-enter the market. The recovery in off-plan sales activity is particularly evident in Cape Town, where the price gap between new and existing sectional title stock appears to be far smaller than in other cities.