Archive for category Gov
The federation also fully supports the three government ministers who are calling for a legal review of the Tribunal decision, based on their fact that the Tribunal unreasonably denied government departments access to information in the possession of the merging parties and took a far too narrow view of the merger.
The Competition Act requires the Tribunal to consider the competition and public interest effects of a proposed merger – whether it promotes employment and advances the social and economic welfare of South Africans – and not just the narrow interests of the firms who intend to merge.
In particular, COSATU insists that the application needs to be judged against the background of the job-loss bloodbath which has hit the country in recent years. Unemploymenttoday stands at 36, 6%, greater than any other middle-income country or any comparable economy.
The labour market has been depressed for so long that many unemployed people are getting discouraged and leave the labour market for good – too discouraged to look for a job.
- South Africa resists being ‘Walmartised’ (guardian.co.uk)
- SA is fast becoming a hellhole like Zimbabwe (preinnovator.wordpress.com)
- Jobless rate hits 25,7% – labour recession (readyco.wordpress.com)
- SA treatment of whites is human rights violation: iLIVE (bananaza.wordpress.com)
The board must then call a meeting of directors to determine the matter (the director concerned may, of course, not vote on the matter). It is interesting that there is no specific protection in section 71 against vexatious or frivolous allegations made by a shareholder. The board must, regardless of the merit in the shareholder’s allegation, at the very least convene a meeting to determine the matter.
Looks like government’s new tactic to perform cou-de-etats on white-owned businesses – just oust the director and carry on! Can you imagine private sector devolving into the shambles government has already reduced the public sector to?
- Director primacy in 5 minutes worth of bullet points (professorbainbridge.com)
- What All Boards Must Ask Their CEOs (blogs.hbr.org)
Julius Malema is doling out state tenders to his pals through a company that is part-owned by his family trust.
The Ratanang Family Trust, founded by Malema, the ANC Youth League leader, holds shares in On-Point Engineering, which administers a large part of the multibillion-rand budget of Limpopo’s roads and transport department.
This means that Malema has at least indirect influence over who is awarded tenders from a three-year budget allocation of reportedly R4.6-billion — although he, On-Point and the department deny it.
In 2009, the department set up a programme management unit (PMU) to take over many of the department’s functions in planning, contracting for and overseeing road works.
In a twist at odds with Malema’s stance on nationalisation, it outsourced the running of the unit to On-Point for three years at a fee of R52-million.
Since then, companies linked to Malema, his business partner in On-Point, Lesiba Gwangwa, and his friend and political ally, Limpopo premier Cassel Mathale, have shared in some of the contracts administered by the unit.
While there is no evidence of bribery, these revelations come in the wake of City Press allegations about a businessman who allegedly paid a tender kickback into the Ratanang Family Trust. Malema has flatly denied taking kickbacks.
Anatomy of a scam?
On-Point, which is headed by Gwangwa, is a sister company of SGL, which started out as Segwalo Consulting Engineers in 2002. Segwalo Consulting, SGL and On-Point overlap — they have used the same address and telephone numbers in Polokwane, and Gwangwa has been a director or member of each of the entities over the years.
Malema was a director of SGL in 2009 and 2010, but resigned around the time the public protector investigated the company to see if he had unduly influenced the many tenders awarded to it.
IT WILL take black people in South Africa another 127 years to get into top management positions relative to their number in the economically active population, the Employment Equity Commission says
If the country had been transhifted over 127 years and not overnight, maybe it would be in as good a state as big business and more people would have jobs, shelter, electricity, etc.
As things stand the country is far worse off than 17 years ago and is fast becoming a hellhole like Zimbabwe.
Unveiled at the end of January, the Startup America Partnership has just announced a slew of new company commitments, in conjunction with President Obama’s Town Hall meeting at Facebook today.
For those uninitiated, Startup America is a White House partnership with AOL co-founder Steve Case and the Kauffman and the Case foundations, with the aim to increase “the number of new, high-growth firms that are creating economic growth, innovation, and quality jobs; celebrate and honor entrepreneurship as a core American value and source of competitive advantage; and inspire and empower an ever-greater diversity of communities and individuals to build great American companies.”
15 companies are upping the ante on their Startup America commitments today, delivering over $400M in value in addition to the original Startup America commitment, derived from partnerships with companies like IBM and Intel. Startup America is also rolling a membership program where companies in various stages (like Startup, Rampup and Speedup) can apply for these resources.
And the resources are impressive. Google is donating over $100 million worth of Google Ads to the cause and HP is offering an estimated $100M in discounts on printers and other products.