BALANCING THE WORK AND HOME LOAD EFFECTIVELY

This is the post that should have been done yesterday.

See what I mean about opportunity! It is all around us in great abundance -we just have to recognise it. This is a great concept! It also reminds me that I have to have my passport renewed, now where did I put Caleb's number . . . . . .

Balancing the work and home load effectively

If you find it hard to do everything, why not let someone else do it?
Katleho Khoaele02 August 2007 at 06h00

How often do you hear people complain about not having enough time to do the work that needs to be done? We live in a society where people are constantly at work, working overtime. As a result of spending too much time at the workplace, not much time is left to take care of responsibilities at home. "I don't have time to go queue at Home Affairs to renew my passport - you know how long those queues are." "I need to take my laundry to the dry cleaner but I just don't have the time." Does this sound familiar?

Times have certainly changed and people are constantly consumed with their busy lifestyles. This has influenced our modern way of doing things. One might say that taking 30 minutes during lunch to go renew his license is a waste of time and complain that he could be using that time for something else. Standing in queues, making reservations, going to the bank … these things have created employment opportunities for other people. Concierge services are popular in other countries, but now the concierge concept is slowly being introduced in South Africa.

A concierge is basically an employee who assists with errands and is hired to do minor duties such as collecting clothes from the dry cleaner or simply making restaurant reservations. The question of security and trust is one that is still of concern to many people. It's not easy to let strangers into our lives, especially when they have to get involved in our personal lives, let alone handle our money matters. But Terrence Levin, owner of Round About Concierge Services, reassures that "you can't judge a book by its cover". He understands the fears that people have but has also developed a level of trust with his clients. Most of his clients know where he lives, his personal details.

He makes a point that clients can contact his references as a source of backup. He points out that his company attends to the essential chores for people, freeing them up to enjoy more rest. "I got the idea to start a concierge service from my father who works as a medical professional. Like many of his associates, he barely has time to think, let alone attend to all the chores and minutiae of daily life. "I took his advice, did some research and found a gap in the market with plenty of opportunities," says Levin. Some of the basic activities that Round About Concierge

Services manage include:

Paying accounts - rent, water, cellphone, municipal rates;
Drop off/delivery of documents, Sars payment;
Making personal appointments;
Banking;
Dry cleaning collection and delivery;
Holiday/travel booking flights, accommodation.

Work is slowly consuming one's life and as a result of that, people don't have time to attend to household tasks. A concierge service makes one's life easier to manage.

For more information contact Terrence Levin on 082-997-0661 or info@conciergeservices.co.za

ART AT PUBLIC HEALTH CENTRES BENEFITS PATIENTS AND ARTISTS

This is the post that should have been done on Wednesday 15th August.

So here's a great opportunity for those of us who have artistic capabilities.

So many opportunities, so little time!

Art at public health centres benefits patients and artists
27 March 2007 at 11h00

The Community Health and Arts Trust (Chat) recently launched a pilot project for using art as therapy for the disadvantaged at public service outlets and providing work and skills for artists. Head of Sekunjalo Investment Group Iqbal Survey and Dr Colin Jones were the guest speakers at the launch at the Brooklyn Chest Hospital in Milnerton last week.

Chat is an initiative of Cape-based Pygmalion Management Consultants and the Sekunjalo Investment Group, and a collaboration between a large and a small BEE company. Chat project manager Troy Truter says the organisation is a non-profit trust for the support and development of artists in the provision of art as therapy to the health, education, social and other public services. It will liaise with the city and provincial health departments and other appropriate public sector institutions to create opportunities at public health centres (out-patients, clinics and day hospitals) and other community facilities in delivering artistic services to disadvantaged communities, children at risk and rehabilitating offenders.

"There is a potentially large audience, from disadvantaged communities, who regularly attend health facilities to receive treatment. They spend significant time at these facilities and could benefit from interacting with the artists."

The trust seeks support from the private sector and provides opportunities for funding the programme through corporate social responsibility initiatives. Chat will be engaging business, and, in particular BEE companies, to collaborate in corporate social responsibility ventures, says Truter. "This initiative looks at the twin challenge of health and cultural needs and mustering the support of the private and public sectors in the kind of partnership the government has been eager to see take place," Truter says.

Pygmalion and Sekunjalo have already committed funding and management support to the establishment of the trust and the pilot project at Brooklyn Chest Hospital.For information, contact Truter on 021 788 2806, or visit troy@ pygmalion.co.za

THE POWER OF NETWORKING - PART 24

THE POWER OF NETWORKING

PART 24

One of the most frustrating things, specifically in a facilitated or semi-facilitated networking meeting are the stragglers coming in.

Imagine the scene if you will – a person is standing up, telling everyone about who he/she is and what it is that they do. How wonderful their product/service is and why it is that people should be purchasing said product and/or service from them. Everyone in the room is focused on what this person is saying and hopefully, either deciding that they need the widgit and/or they know of someone who may require the services of the speaker.

In the middle of all of this another person enters the room. So far not a problem I am sure that you would agree. The room is packed though and , said person wants to slink into the only remaining seat which is clear across the room. So there is much “excuse me’s” going on with much bending over and head bobbing, whilst they find the seat that they are looking for and finally settle in.

By this time the speaker has lost their thread and momentum, the rest of the networker’s have lost their focus and have forgotten the questions that they wanted to ask – the moment is lost.

If possible make sure that you can get to the venue on time, if not a little early. Before anyone heaves a huge ‘sigh’ and rolls their eyes heaven bound – I know that no-one intentionally wants to be late, but then for goodness sake, use a little bit of common sense – wait until the person who is talking about themselves is finished and either steps down and/or sits down – there is time enough at this point to dash off to the seat in the corner that you now have had time to see. This will cause the least amount of interruption and allow the speaker to say what it is that they need to.

THE POWER OF NETWORKING - PART 24

ABLING YOUR COMPANY

This is the post that should have been done on Monday 13th August.

So you see, the opportunities abound - here is one that w0uld be great for both the person with the disability and for the prospective employer (score cards and things not to mention common decency!)

Hope you are all taking note!

'Abling' your company

This is a great time to give an opportunity to disabled people needing experience

Workplace staff

23 July 2007 at 06h00

The first group of learners on a pilot learnership for the physically disabled at Boston City Campus and Business College are ready to move from the classroom to the workplace. According to Yolanda Roelofse, project manager at Boston, the learners have reached the stage where they need exposure to the real world of work before they can continue with their theoretical training.

"Theoretical learning has to be balanced with experiential learning," she says. "Our learners are not only ready but eager to spend some time in a work environment. "The workplace training, however, has to be relevant to the qualification so the learners can complete their portfolios of evidence and receive their NQF level 4 certificate in Business Administration.

The learnership, which falls under the auspices of the Services Seta, is designed for those who wish to become involved in the administrative functions of an organisation.The core component of the qualification offers learners skills in areas such as management of records, business writing, problem solving, project and team work, comprehension of written and verbal texts and business policies and procedures.

Qualifying learners can follow a career in a variety of fields including financial administration and data capturing among others. "Our learners have taken their physical limitations in their stride and have all done well so far," says Roelofse. "We hope that employers can, in a similar manner and with the same level of commitment, overcome their reservations about employing people with physical disabilities." Roelofse believes the benefits of employing a physically disabled person outweigh common reservations. "The national emphasis is on employing the disabled," she says. "Unfortunately, the usual regard that is given to matching people's personality traits and/or skills with the needs of the company is often discarded; this practice is encouraged by the points given to companies calculating their scores on the equal employment opportunity or black economic empowerment score cards." However Roelofse maintains that this needn't be the case. "This learnership provides companies with the ideal opportunity for them to find out what it entails to have a disabled person on their staff; someone whose traits and skills match the needs of the company.

"Should it work well for both parties, the employer can opt to employ the learner full time once he or she completes the qualification. There is however no obligation for the employer to do so." All the learners - there are nine studying in Cape Town and 55 in Joburg - have disabilities that do not prevent them from contributing meaningfully to a business. Some are visually impaired; others are amputees and wheelchair bound. Though they don't have work experience, some of the learners have studied previously and boast degrees in law and psychology.

"Before embarking on this learnership, the learners were evaluated by an occupational therapist," Roelofse explains. "There is a report on each of the learners stating what their special needs are, what assistive devices are required and so forth. Employers who take on learners will know from the outset what the limitations and/or requirements are." She points out that it is easier to accommodate someone with physical disabilities than is often perceived. "At Boston we only needed to make minor alterations to our campus," Roelofse adds. "Besides, the Seta has allocated a budget to assist employers and other institutions to provide for special needs where applicable. "

Both Boston and the Services Seta will provide assessment tools and other relevant assistance to employers who offer workplace training to these disabled learners."The first group of learners will be available from August while the second group will be ready for their experiential training from October.

For more information or to apply to temporarily employ a learner, please contact Yolanda Roelofse at 011-485-2838 or e-mail Yolanda@ boston.co.za

SARS TARGETS CORPORATE TAX AVOIDERS

This is what should have been posted on Saturday 11th August.

It is said that there are two things in life that we can count on - one is that we will die and the other is that we will have to pay taxes! Having said that, we are constantly reminded, on TV, in magazines etc that people are constantly trying to cheat death! We all know what happens there, so it stands to reason then, that it is not a good idea to try and cheat on our taxes!

Beware, you will be caught! Just don't go there!

Sars targets corporate tax avoiders
January 10 2007 at 08:40PM

Corporate re-organisations structured to avoid tax will be challenged, the South African Revenue Service (Sars) said on Wednesday. Sars was watching corporate re-organisations involving large South African entities, said Commissioner Pravin Gordhan.

Certain transactions were being structured "in such a way that they show complete and reckless disregard for tax morality and South African tax law", he said. "Through elaborate structuring, these deals seek to deliberately avoid the tax consequences that should flow from the associated transactions, thereby robbing not only the fiscus of tax revenue, but all South Africans." Gordhan said Sars would "carefully examine" these transactions for tax compliance.

"The architects of certain tax-aggressive structures will not be permitted to abuse South Africa's tax provisions in ways clearly unintended by the legislature. They will be vigorously challenged."

He called on corporate leaders to ensure the advice they pursued did not undermine the country's tax base. "We once again urge institutions involved in designing aggressive tax schemes intended to abuse the law and deprive the fiscus of its fair share of revenue to desist from such schemes. "These are the activities that lead to complexity in our tax law." Gordhan said Sars would work with shareholders, investors and their advisers to understand their intentions and commitment to poverty alleviation and the country's development, and how structuring of transactions supported this.

Sars spokesperson Logan Wort said Sars was looking at both legal tax avoidance and illegal tax evasion. He declined to name any companies or individuals suspected of either practice. Wort said the challenge of tax law internationally was compliance with the both the letter and spirit of the law. Some companies were believed to be setting up "aggressive tax structures" primarily to avoid paying tax rather than to further their businesses and, while this was not technically illegal, itwas against the morality of the tax laws. Wort said that where companies were acting illegally, Sars was warning them. Where they were aggressively avoiding tax, Sars was appealing to their morality to comply with the spirit of the law. - Sapa

NEW NET SCAM COST CLIENT R24 500

Good morning bloggers, I have been out of town for a few days, hence no blogs, so it's catch up time again.

Here's one for the scammers again! I am somewhat concerned however, when a bank employee says that 'fraud in the bank is normal'. Surely there is something wrong with that picture. What are the banks doing, to control this 'normal' occurance?

New Net scam costs client R24 500
March 28 2007 at 12:16PM
By Leila Samodien

Amid reports of phishing attacks on bank accounts, a Cape Town man says he had to threaten bank staff with a criminal charge to recover R24 500 he lost to a different kind of Internet scam.

Durbanville resident Keith Brook said on Tuesday that although he had not used his First National Bank Internet account for weeks, he received a bank SMS two weeks ago saying the money had been transferred from his account. "I only got the money back 13 days later, after I threatened to take some of the employees to the police."

'They haven't quite worked out what happened yet'

"If they can break into clients' bank accounts, what will happen when they discover new ways to steal money through banking?" he asked. He said he had received an SMS on March 13 saying he had accessed his Internet banking account - despite the fact that his computer had been disconnected for months. Minutes later, he received another SMS saying the money had been transferred to another account. A third message confirmed it.

The Cape Argus spoke to a FNB official, who said Internet fraud was a "normal occurrence" at banks. A recent statement by FNB said that Internet fraud had increased worldwide over the past 12 months.

FNB spokesperson Bonny Feldman said: "It doesn't look like an incident of phishing, but an investigation is still under way and they haven't quite worked out what happened yet. "The scam came after reports of a national phishing scam which gave fraudsters access to the bank accounts of online clients of leading banks Absa, FNB and Standard Bank, among others. In one case, R200 000 went missing from a client's account. Phishing is a scam in which fraudsters use emails purportedly from banks to con clients into sending them personal details that allow the scammers account access. FNB warned clients against responding to emails which:

Ask you to furnish personal details in an email or submit them some other way.

Threaten to close or suspend your account if you do not provide personal information.

Solicit participation in a survey in which you are asked to enter personal information.

State that your account has been compromised or that there has been third-party activity on your account, and requests your account information.

Ask you to enter your user ID, password or account numbers into an email or non-secure web page or to confirm, verify, or refresh your account, credit card or address.

This article was originally published on page 9 of Cape Argus on March 28, 2007

MORE WOMEN SITTING AT HELM OF CORPORATE SA

In keeping with today being Women's Day - have a happy one!

More women sitting at helm of corporate SA
Workplace staff

08 August 2007 at 11h00

Since the inception of democracy in South Africa, women have been making strides in the workplace. It was not long ago when the boardroom consisted of predominantly male executives. The South African Women in Leadership Census 2006, published by Business Women's Association, indicates that there is an increase of women corporate leaders or directors in the country.

People organisation, Kelly, confirms that boardrooms across the country are now taking on a completely different look. Increasingly women are taking their rightful seat at the helm of business. Gayleen Baxter, Kelly's chief operating officer, says: "We are in the middle of a paradigm shift. "Top women talent no longer fill mere management positions; they are now sitting at boardroom tables and steering corporate South Africa into an exciting future.

While this bodes well for women, progress is only now beginning to gain momentum and attention is also being focused on women talent retention."As we celebrate Women's Month in August, the spotlight falls on the success achieved by the business in promoting women in South Africa. The challenge is for business to keep the momentum and succeed in attracting and retaining women in top positions in business. Many businesses are achieving great success and it falls on these companies to provide insight into the key success factors of enabling an environment that promotes equity in the boardrooms.

Thursday is National Women's Day. It is also the anniversary of the historic march of women to the Union Buildings in 1956 in protest against the pass laws that required previously disadvantaged women to carry a document that proves they were allowed into areas reserved for white people only under the apartheid Laws. August is a month of that celebrates and commemorates the contribution of women in the struggle for freedom and, importantly, the progress that has been made in empowering women in business. Baxter adds: "The emergence of a strong and unified force of corporate women is forcing a change in boardrooms worldwide.

"In South Africa the change is beginning to see results giving an indication that the empowerment of women in the workplace is becoming a reality." But can corporate South Africa say that the process of empowering women has in fact reached levels of acceptability? According to findings by the Business Women's Association published in August 2006, Census 2006 indicates that women are still significantly underrepresented in top corporate leadership positions. Baxter confirms that while at director level women are showing a consistent increase, those filling chairperson and CEO positions remain significantly low. The challenge remains for business to attract and retain top women leaders. But there are positives that provide significant impetus to the drive for top women placements:

Top talent.

Women are proving to be some of the best leadership talent in the country. The trend is mirrored in a global context which is seeing an increasing number of women gaining the skills and qualifications to lead corporate business.

Upward trend.

Albeit relatively slow, the numbers of women in top positions is on the increase. The growing pool of talent provides significant resources for companies seeking to empower women in the boardroom. The increase of women directors shows that business is serious in driving empowerment in the boardroom.

Empowering women as a competitive advantage. Companies committed to the empowerment of women in the boardroom show their true intentions, a powerful indicator of its business objectives. With women becoming more qualified and astute business people, their presence at the boardroom table sends a clear message of the company's ability to attract and retain top women in business.

Global trend.

South Africa is not alone in women empowerment initiatives. Globally, business is adapting to the importance of the emphasis on strict corporate governance which also stresses the importance of director independence.Consequently the boardroom doors are increasingly opening for top women talent to enter and drive business into the future. Baxter concludes: "The trend is positive with a strong focus on women empowerment, not only in the boardroom; but at all management levels. "The challenge now is to keep driving the process of true empowerment and as we do so, South Africa is setting a global standard that is set to take business into an exciting and prosperous future."

CHEATING PUBLIC SERVANTS TO PAY BACK R21M

Good heavens! Talk about getting 'fat off the back' of the common people! There are millions of people in this country who live below the poverty line and millions more who do not have work and yet our public servants have additional illegal grants! They are taking the food out of the mouths of starving people and the worst that they can look forward to is 'disciplinary action". What does that mean exactly?

The reality is that they will (perhaps) lose their jobs but their records will be clean. They will continue to enjoy the fruits of their ill gotten gains (you don't for a minute think that the R21m is the whole amount do you?) and they will find work elsewhere, where they will attempt to do the same thing. The punishment here, certainly does not fit the crime!

Cheating public servants to pay back R21m
July 26 2007 at 04:25AM
By Deon de Lange

Nearly 6 000 public servants have so far signed acknowledgements of debt to pay back more than R21-million to the state after receiving social welfare grants they were not entitled to. Replying to a parliamentary question on progress with the department's investigation into massive social grant fraud, Social Development Minister Zola Skweyiya said these public officials would have to pay the money back over five years with 5,5 percent interest. So far 2 058 officials have been found "guilty in court of receiving grants fraudulently", he said. Those paying the money back had chosen to enter into plea bargains instead - hence the acknowledgement of debt.

The number of paid officials who were receiving grants therefore raised suspicion

Previous revelations that some public servants were given up to 30 years to pay back the money interest-free caused outrage. Douglas Gibson, DA chief whip at the time, accused the department of running a de facto interest-free loan service for public officials. The Special Investigation Unit (SIU) - also known as the Cobras - launched an investigation after initial spot checks revealed that many public servants were receiving social grants. Although public servants are not automatically disqualified from receiving grants, most grants look at income as part of the means test to determine qualifying recipients. The number of paid officials who were receiving grants therefore raised suspicion and the department approached SIU chief Willie Hofmeyr to investigate.

When the government's payroll was compared with the department's list of beneficiaries, there were more than 44 000 "hits" indicating an unusually high percentage of public servants claiming welfare grants. This figure was narrowed down to just more than 12 000, of which 5 862 have agreed to pay the money back and 2 058 have been found guilty in court. The precise number of outstanding prosecutions is unclear. The single biggest amount of R48 000 is being paid back over 59 months by an official in the KwaZulu-Natal provincial department of health. One Limpopo education official chose to pay back her debt in one lump sum of R25 000. It is unclear whether she has done so.

Skweyiya said that the SIU was compiling data of those public officials who had defaulted on their payments. "As soon as the data is complete, the SA Social Services Agency shall give power of attorney to the SIU to proceed with litigation against defaulters." Mike Waters, DA spokesperson on social development at the time of the initial investigation, last night welcomed the news that "these thieves are now being charged interest on the money they stole". He said: "The next step is to ensure that every one of them is subjected to disciplinary action by those government departments for which they work. The DA will be keeping an eagle eye on this process to ensure that justice is served."Hofmeyr last year told parliament that the investigation would have to be expanded to include all non-public servants. Steps had already been taken to compare the grant lists with databanks from the SA Revenue Service and other parties.

Initial extrapolations indicate that up to 400 000 people might have to be investigated. The department has budgeted an extra R60-million this year for the investigation and hopes to save about R1,5-billion annually by cutting off cheats.

This article was originally published on page 2 of Pretoria News on July 26, 2007

THE POWER OF NETWORKING - PART 23

THE POWER OF NETWORKING

PART 23

In her cards on Networking Tips, Dr Renate Volpe says “Be generous with what you know. Circulate information. Connect people.”

I am often amazed at the absolute generosity of some people (Renate included) and then equally amazed at how some people will not share anything. The mind boggles – well mine does anyway!

Some people hold everything closely to themselves, they will not give out a lead or a referral, but are sure to be in the very front of the queue if they are sure to receive anything! Go figure!

Apart from the fact that there is an abundance of opportunity and work out there, they are so busy keeping everything close to them, they do not see what is right under their very noses – the abundance. They agonise and stress about every little thing and how people are trying to cheat them and the competition is stealing all of their ideas and business is sooo bad because . . . . Sounds familiar doesn’t it? Yet if they had only opened their hands and their hearts and gave something back, they would receive hugely.

My friend and colleague Kevin Foot always says that ‘you have to give to get’. I agree and have found that you actually don’t have to give too much in order to get a whole lot back.

Look, I don’t mean that you have to give the shirt off your back or give out your IP for nothing. Not at all. But put people in touch with one another. Give out referrals and leads. Invite your competition to a networking meeting with you – chances are that you will be able to work together on a big project that neither of you could manage to work on alone (now there’s a thought for you).

Share information – where the next networking meeting is, who is going to be there, opportunities that are not for you but you know someone who is dying to do that sort of thing.

When you are in front of a client or even a prospective client, who you are pitching to, listen to the needs of the client – it may be that the client not only has need of your services, but also the services of someone that you know. On the other hand it may be that the client does not need your services at all, but has need of someone that you know – imagine how impressed they will be when you say “I’m sorry I cannot help you with this as it is not my field, however I can recommend Jane Doe as this is exactly what she does.”

Not only will Jane Doe think you’re great and start looking out for work for you, but the client will also bear that in mind and when they do have work that you can do for them, you will be called in. That kind of generous behaviour tends to stick out in the minds of people.

This is the best value add that you can have.

For more information on Dr Renate Volpe please have a look at her website on www.HIRS.co.za

Emil on Monday

Welcome to Emil on Monday, a short Money Tips Newsletter.

Advice Notes:

Are You Willing to Lose R5,319,994.71?

It’s no secret that taxes are silent wealth-killers, preventing people from easily achieving their financial goals. That’s why we urge our clients to invest using tax-deferred vehicles as often as possible.

To truly appreciate just how much taxes eat into your ability to generate significant wealth, look at the chart below.

If you double a one sent every day for 30 days, you wind up with a staggering R5,368,709.12. But you won’t believe how much you’d have if you paid 28% in income taxes every day that one sent doubles. You’d have a measly R48,714.41. I kid you not. Thus, it’s clear that tax-deferred retirement accounts can add a lot of money to your long-term wealth.

And don’t worry about the taxes due on your R5.3 million. Even if your now-huge net worth pushed you into the top estate tax bracket, you’ll still have more than R3.6 million left over after taxes — a lot more than the R48,000 you’d have by paying taxes each day on the pay-as-you-go system. Please phone me on 083 562 4858 to help you with your retirement planning…

I got such a lot of feedback and inquiries on Dealing With the Financial Impact of Divorce that I feel the article should be revisited. Read it again here…

Are you busy getting divorced now? Contact me on 083 562 4858 to help with your asset planning. Or click here…

Click here to get your free copy of the Financial Planning Guide(PDF)

Special Announcement: Consolidate your debt to your home loan @ prime less 2,45% Click here for more info or call 083 562 4858.

Money tip nr 30:

Always check that an investment product and/or company are registered with the Financial Services Board (FSB) before investing. If it is not registered and things go wrong, you will have little recourse, so be extremely wary. You can telephone the FSB on 0800 110 443 or 0800 202 087 to check.

Charges on life assurance investments (endowments) are proportionally higher on lower amounts. Check the structure of costs in relation to premiums. You might find that paying just a few rand more every month costs you proportionally less. This will give you a better return.

Are you in need of financial planning? I offer fee based financial planning and you do not need to purchase a product.
Click here to inquire…

Investment tip nr 11:

Avoid investing in unlisted companies. These companies are not properly regulated and are the favourite vehicle of scam artists. If you decide to invest in an unlisted company, make sure you do your homework first and understand all the risks.

Never invest in anything where the underlying investments are shrouded in secrecy. Your money is likely to be secreted away too, never to be seen again. A good example was Jack Milne’s PSC Guaranteed Growth investment scam. Milne refused to divulge the underlying investments, claiming it would show his competitors how he was getting exceptional returns.

Commercial Property is the next BOOM!! To find out more about commercial property syndication and the benefits to you click here…

Quote of the week:

First ask yourself: What is the worst that can happen? Then prepare to accept it. Then proceed to improve on the worst. Dale Carnegie

Have a fantastic week
Emil Trautman
083 562 4858

RICH GET RICHER

Perhaps I am missing something here, but isn't the whole idea behind owning your own business and becoming successful also about the money side of things? Isn't that what being a capitalistic free enterprise country all about? Why on earth wouldn't they become richer? You say it like it's a bad thing! I say well done guys! You Rock!

Rich get richer
March 11, 2007B
By Wiseman Khuzwayo and Mzwandile Jacks

Johannesburg - It is a fact: the rich are getting richer and yes, more black businessmen are joining the list of the super-rich in South Africa. This is according to the 27th edition of Who Owns Whom in South Africa, published this week. The respected financial handbook lists the top 50 directors by value of their JSE shareholdings and for the first time it lists the bourse's winners in terms of the increases in the value of their shareholdings.

The combined value of the shares held by top 50 directors was R105.91 billion, 3 percent of the total market capitalisation of the JSE when the data was compiled in June. The top three richest directors on the JSE remained the same as in 2005: Lakshmi Mittal, effective owner and a non-executive director of Mittal Steel South Africa, holds 52.02 percent of the firm's shares - the stake is worth R14.68 billion; Nicky Oppenheimer, a non-executive director of Anglo American with 3.98 percent of London-listed Anglo American, is worth about R14.09 billion (his interest in delisted De Beers is not included); and Johann Rupert, a director of the Rembrandt Trust, whose 35.5 million B shares in Remgro and Venfin (since delisted) are valued at R8.59 billion.

Patrice Motsepe has moved up from eighth to fourth with a fortune of R7.94 billion - made up of a 42.7 percent stake in African Rainbow Minerals and his interest in the 9.38 percent holding of the Ubuntu-Botho empowerment grouping in Sanlam.

Three black newcomers joined the top 50 super-rich. These were Saki Macozoma, a non-executive director of Liberty Group and Standard Bank, whose wealth is estimated at R519.64 million; Cyril Ramaphosa, the chairman of the Shanduka Group, whose shares are valued at R490.53 million; and Marcel Golding, the Hosken Consolidated Investments chairman, with R360.87 million.

Who Owns Whom said its assessment of the country's wealthiest used the value of beneficial ownership of shares on the JSE. It did not take into account privately held assets and it did not take into account debt owed on shareholdings. The publication said shareholdings were sourced from public documents published in electronic and hard copy in terms of the Companies Act and JSE listing requirements. The data was extracted by the research staff of Who Owns Whom. Shareholdings included those held via trusts where this was deemed appropriate.

The holdings of each director were sent to the respective company secretary for corroboration and updating. The list of increases in value of shareholding in the past 12 months is headed by Tokyo Sexwale, the executive chairman of the Mvelaphanda Group. It shows an astounding 275.1 percent rise in his wealth to R979 million last year. The 2007 edition of Who Owns Whom includes, for the first time, Sexwale's 16.9 percent share of Mvelaphanda Group valued at R673.7 million.

Andrew McGregor, the managing director of McGregor Information Services, said as Mvelaphanda had only listed in December 2004 when it reverse listed into Rebserve, details of its shareholdings had not been included in last year's edition. He conceded that Sexwale would then have been worth more than the R261 million attributed to him last year and the amazing growth attributed to his wealth in the 2007 list had been overstated. Which leaves Brian Joffe at the top with a 261.2 percent rise in the value of his shares from R273 million in 2005 to R986 million last year, almost all of it emanating from Bidvest.

At the bottom of increase in value list, the wealth of Claas Daun, the non-executive chairman with 47.07 percent of Kap International Holdings, fell by 13.3 percent to R826.9 million. Walter Grindrod, the non-executive chairman of Grindrod, reduced his 27.8 percent holding to 16.9 percent, shaving 3.6 percent off the value of his shares from R1.13 billion to R1.06 billion, which benefited from stock price rises.Who Owns Whom first published its list of the super-rich last year when the total market capitalisation of the JSE was R2.89 trillion.

Bruno Steinhoff, the executive chairman of Steinhoff International, increased the value of his shareholding by 124 percent, from R1.6 billion to R3.6 billion.The furniture and household goods manufacturer this week announced it had posted good interim results, with revenue up from R17 billion to R19 billion.Headline earnings grew 33 percent, from R856 million to R1.1 billion. Headline earnings a share increased 32 percent to R1 from 76c the previous year.

This week also saw the share prices of Steinhoff and JD Group, South Africa's largest furniture retailer, surge as a result of the proposed merger between the two companies. A merger would result in Steinhoff, with a market capitalisation of more than R31 billion, being the controlling shareholder in the merged entity.

The value of shares held by Maldwyn Zimmerman, the executive chairman of Combined Motor Holdings (CMH), in the company surged 118.1 percent, worth R986 million last year. It is stated that his shareholding was worth R452 million in 2005, lifting Zimmerman from the 21st position to seventh in the list of top 50 JSE directors. Zimmerman's shareholding shot up to 43.28 percent. The value of shares held by Jebb McIntosh, the chief executive of CMH, lifted 118.7 percent, worth R549 million last year. This has moved him from position 31 to position six in the Top 50 list. His shareholding went up to 24.07 percent in the company.CMH said the rise in shareholdings was due to share price increases, which were considerable during the year.

The value of shares held by Jannie Mouton, the chairman and founder of financial services company PSG, increased by over 140 percent in the past 12 months.Mouton's shareholding was R279 million in 2005. But it has surged to R670 million, elevating him to the fourth position of the Top 50 directors. Last year he was 27 on the list. Mouton, as an executive of PSG, owns 15.43 percent, which is worth R432.08 million. As non-executive chairman of Capitec Bank, Mouton has a 10.41 percent shareholding valued at R232.02 million. PSG said the increase could be attributed to shares obtained through the merger with Arch Equity, further shares acquired in terms of PSG's rights issue, and additional shares acquired in the market.

The value of the shareholding of Brian Joffe, the chief executive of Bidvest, shot up exponentially in the past 12 months, coming second in the top 50 list of directors after languishing in the 23rd position in 2005. The value of Joffe's shareholding rose 261.2 percent last year. His JSE investments were worth R273 million in 2005 but surged to R985.91 million last year. As chief executive, Joffe has a 2.59 percent holding, which is worth R985.62 million.Joffe was said to be "out of town" on Friday. However, the company's latest results showed that Joffe owned 3.8 million indirect and direct shares in Bidvest.

Patrice Motsepe, the mining magnate and chairman of African Rainbow Minerals (ARM), increased the value of his shareholding by 178 percent, from R2.8 billion to R7.9 billion. Andre Wilkins, the chief executive of ARM, said this was in line with firm's results in the six months to December, which saw ARM report a 318 percent rise in headline earnings to R548 million for the six-month period. ARM's rise in value and profits reflects the increase in prices of platinum, manganese alloys and nickel, as well as new projects coming on stream. Motsepe said a dividend would be paid in due course.

BEING YOUR OWN BOSS IS NO FAIRY TALE

My apologies to all for no blog yesterday - thank you to Telkom and it's incredibly efficient and reliable ADSL line. Thank you also to it's incredibly bright and articulate staff who spent most of the morning telling me that there was 'nothing wrong' with the ADSL!

What a great article, it highlights exactly what is needed and put's the 'reality' check into place.

Well done Jack & Suzie Welch!

In today's Sunday Times, by Jack and Suzie Welch:

Being your own boss is no fairy tale 27 May 2007 http://www.sundaytimes.co.za/thumbna...pe=img&id=6994

Before you make the leap, separate wishful thinking from the less-rosy realities that characterise the entrepreneurial experience. Sometimes I get the feeling I want to start my own business. While I know some smart friends who might join me, I still wonder whether I have the instincts and leadership required? — Umair Malik, Islamabad, Pakistan

Forget, for a moment, your desire to fly free. Forget the “required” levels of instinct and leadership. And while you’re at it, forget your smart friends. To start a company, you need those things — eventually. But first and foremost, you need a great idea. That doesn’t mean we want to discourage you or denigrate the entrepreneurial urge. To us, the gutsy individuals who launch ventures are some of society’s biggest heroes. And yes, there are people who dump their day jobs, hunker down in a garage or spare bedroom with a bunch of friends and then, five years later, can be seen ringing the opening bell on Wall Street. But before you start visualising yourself in that picture, and make the leap from stability to start-up, it probably makes sense to separate wishful thinking from the less-rosy realities that usually characterise the entrepreneurial experience.

Let’s start with a favourite wish: that entrepreneurship grants independence. True, you will become your own boss. But for months and even years, that choice will mean less freedom and flexibility for you, not more. You won’t control your own life; your new business will do that for you. After all, when you only have two customers, you don’t tell them you can’t meet Monday at 5pm. You smile when they show up three hours later. In your heart, you may be flying free, but in the trenches, you’ll still be taking orders — just from a new set of bosses.

Another bit of wishful thinking is something you don’t mention but is common too — it purports that entrepreneurship bestows financial independence. If only! Unless you’ve built up a pile of savings, no one is more “owned” than the founder of a start-up. We recently met an entrepreneur whose venture was stalled because she was loath to give more equity to private investors or venture capitalists.“It’s bad enough to give up control,” she complained, “But if I keep giving away stock, I’ll still be driving my 1994 Honda Civic to my son’s college graduation.” Given the fact that her son was an infant, she was joking, of course. But the fact is: Start-ups almost always make their founders poor before they make them rich.

Finally, there is that popular notion you refer to: that companies can get born by just a bunch of bright people in the room bursting with energy to “make it happen”. We’d call that partial information. Obviously, passionate, talented people are the key to getting a venture off the ground. And yes, there have been cases of friends banding together to build something amazing from scratch. But those friends usually had an idea to start with. The real engine of any start-up is a product or service that fills a market need, or better yet, creates one. Several years ago, we attended a celebration honouring the 50 fastest-growing entrepreneurial ventures in the Atlanta area. The room buzzed with excitement as everyone waited to hear who would get the top award. The winner ended up being a three-year-old company that had discovered a better way to de-ice aircraft.

Undoubtedly, the company had great leadership, but its revenues were growing 55% a year because it had an idea that changed the market. All around the world, we’ve seen successful entrepreneurs, young and old, literally changing the world for the better. So we don’t want to dissuade you from going out on your own. Just know that there is more to being an entrepreneur than meets the imagination. And there’s a lot less without a great idea to start with.
__________________

DUE DILIGENCE

This has been taken from Mark Corke's newsletter (with his permission of course!). Mark is the owner of Suitegum and is a Business Broker. Mark regularly holds seminars, on how to get your business ready for sale and keep it that way. For more information have a look at Mark's website www.suitegum.co.za.

Businesses change hands every month. Somewhere in South Africa, right now, the final touches are being put to a deal that will see the ownership of a business changing at the end of this month. The transfer of ownership in a business is nothing rare, strange or untoward. Deals happen all the time. However, if deals were better structured and planned, the value of deals we see being done would be much higher. Let's see how we can improve our chances of successfully selling our business, shall we?

A Due Diligence Can Hurt
The accepted norm is that a prospective purchaser is allowed into a business to "do a due diligence" before making an offer of purchase. If he is happy, he makes the offer, based on his findings, and both buyer and seller move forward.

But what if he is not happy? Well we expect that the negotiation will be a bit tougher for the seller, and the price will be lower, if in fact the deal is closed at all. If the deal is not successfully closed, an enormous amount of information has been made available to the purchaser, all of which can then be used in competition to the seller! Tell me if the following isn't a better way of doing things:

Define "happy" up front.

The buyer will be happy if the seller can prove to him that the turnover is indeed R5M, the gross profit as a result really is R2M, and after all expenses, the earnings before interest, tax, depreciation, amortization and dividends (EBITDAD) is no lower than R1M - the amount promised in the original advertisement. The seller, on the other hand will be happy when the purchaser pays him his money, and takes the business.

By placing a clause to this effect into an agreement of sale as a suspensive condition of sale, or condition precedent, the agreement is a done deal as far as the seller is concerned, because of course, he knows that his figures are accurate. The purchaser should be satisfied in signing an agreement in which the seller has made a promise he is capable of keeping, and so should not have a problem paying a deposit.

If you can get your head around that concept, you can go a step further and actually sign an agreement of sale prior to the due diligence, in which you make the successful due diligence a suspensive condition of sale, or a "condition precedent". Stay with me on this, and I'll show you how to sell your business as painlessly as possible.

CheersMark Corke

What am I trying to achieve through this newsletter?Every single day of my life, I am, or one of my brokers is, approached by someone who wants to sell his business - and he wants to do it tomorrow, usually by lunch time! Trying to sell a business that is not prepared for sale does the business, the seller, and eventually the buyer a great disservice. If I can help business owners to get a grip on what is required in the event a business is to be sold, then that will make my job easier, and my clients will make more money in selling their businesses; and after all, isn't that what we all ultimately want?

We make money from day to day, sure; and the business puts food on our tables, pays the rent, and hopefully gives us a bit of status, but if you believe that it will never be sold, you are selling yourself short. So why not add a million or two to your net worth, and do the job properly? I'm certainly not suggesting that you crook the books to achieve this. You can add serious value to your business in a sale by preparing things properly, and by turning your business into a "product", just as you would make your business's own products or services attractive to your customers. Let me tell you how.

PLANNING YOUR BUSINESS

Some sound business advice.

Existing businesses should use effective business planning processes to control their destiny, set vision AND long-term objectives, manage the steps towards their future in an organised, strategic and managed process. The process, not just the plan, is a vital part of management growth and it helps you take control of your destiny!

Control your destiny!

Ask the owner of an SME about a Business Plan. Expect the answer: "Business Plan? But I am not a start-up (new business). Why would I want a Business Plan?"

They don't all answer that way, but too many do, and its a shame. Creating a business plan is a great tool for growing a business, but so many people dismiss it as a one time process used only to start a company or for raising finance. The myth that a business plan is only for start-ups gets in the way far too often. If you own or run a company, you probably want it to grow. And if you want to grow a company, then you want to plan that growth. The planning is just the beginning; you want to use the full planning process to manage growth.

Think for just a minute about how many different reasons there are for an existing company to plan and manage its growth. There's the need first of all, to control your company's destiny, to set long term vision, mission and objectives, and to calculate the steps to take to achieve that vision. Without planning, the company is reacting to events, following reality as it emerges. With planning, there's a chance to proactively lead the company towards its future.

For an existing company that wants to grow, the planning process is essential. Everybody wants to control their own destiny.

The planning process is the best way to review the market and refresh your marketing strategy, to prioritize, and to manage tasks. Bring a team of managers together and develop a strategy that the team can implement. Work on dealing with reality, the possible, instead of just the desirable, and make strategic choices. Then follow up with regular plan reviews, that ultimately becomes management.

If you need help in the Strategy process then join us on one of our one day training sessions. Contact us and we can tell you or send you an advert detailing what we do and when we hold the courses. STRATEGIC TRAINING

Achieve your Goals
Our specialty is advising Small Medium Enterprises on how best to achieve their goals and particularly specific objectives.

If you are looking for a Business and Strategic Plan that will help you focus your efforts and make your business successful, then we can help. We produce Business Plans that work. Without a Business Plan your business is going nowhere! If you prepared a plan when you started your business how has it gone? When is the last time that you revisited the Plan to see where you are on your Business journey?

So if you are concerned about how your business is doing Contact us and we can help you. We will send one of our Consultants to see you. The first hour, which is our evaluation of how and if we can help you, IS FREE.

Our services include MJF Consultancy that has been specifically set up to help you in your strategic planning. They also have a Business Mentorship programme that will join hands with you and guide you through the process of meeting your goals. For more details SEND US AN E-MAIL BY CLICKING ON THE NEXT BUTTON: FREE BUSINESS HEALTH CHECK.

The founder Dr. Michael J Freestone, has a Doctorate in Business Finance, as well as being accredited by the Professional Practice Group (PPG), which is a select group of practising professionals, who have a fellowship with ICSA (The Institute of Chartered Secretaries and Administrators)

THE POWER OF NETWORKING - PART 22

THE POWER OF NETWORKING

PART 22

Craig Harrison says that the reason that Networking may not be working for you is because of the basic 9 mistakes that Networker’s make. I will be going through these over the next few weeks and let’s see if this is what is holding you back.


To get to know a bit more about Craig Harrison, please visit his website on www.craigspeaks.com.

The ninth and final mistake that Networker’s make, according to Craig is “Disrespect the Tao of Networking. Networker’s who are obsequious to those they believe can help them, yet rude to those they believe can’t help them, disrespect networking. I’ve had networker’s disparage the last person they met whilst in conversation with me. I was afraid to let them go for fear of what they would next say about me! That’s the antithetical to the spirit of networking. One networker took my card and in front of me, wrote the letter A on it, and boasted he was “putting me in his A list.” Let’s just say he was clearly the biggest A I met that night!”

I recently experienced someone who disrespected me and my time and quite frankly I am still peeved about the whole incident. This person, let’s call him George, was happy to set up an appointment with me and I sat with him for an hour, listening carefully to what he did and what his target market was and then put together a list of people out of my data base that I felt could help him or even, in some cases who he could pitch his product to. It took another hour to sit down and mail him with the names and contact details of all these referrals and copy them on the mail, telling them who he was and what it was that he did – so that they knew he would be contacting them. I call this a warm lead.

A few months later George and I met at another networking meeting. After the meeting he, another fellow and I sat having a drink and discussing how networking was ‘working’ for us, when George asked me if I had any additional folk that I could recommend him to. I again made a list of people and a few days later repeated the exercise of mailing him and the people that I was recommending him to.

Imagine, my disgust when several months later George and I hooked up, again at a networking event. George had had a few too many glasses of red wine and was clearly not in control of all of his faculties as he smilingly told me that he had not bothered to contact a single person that I had referred him to. I was absolutely astonished, and he ‘sort of realising’ his mistake, actually asked me to re-send all the information and contact details that I had so painstakingly already sent to him.

This for me was the highest form of disrespect to me as an individual. George had not only wasted my time, but in not contacting anyone, he had basically told me that my contacts and referrals were not worth the paper that they were written on.

You see, George had a mindset that he himself couldn’t get past. George had decided in his own mind that I was not worthy because he could not sell me anything and therefore there was no-one that I knew who could possibly be worthy of his product.

The worst of it is that George believes that he is a networker of note!

Needless to say, George will never get a name or a telephone number out of me again, let alone the time of day.

Understand that although the individual with whom you meet, may not be able or need whatever widget that you are selling or whatever service that you are selling, they have, without a shadow of a doubt, someone in their own database that will need that widget or that service.

Don’t be quick to judge someone. You have no idea who they are and more importantly, you have no idea who they know.

THINK POSITIVE & SUCCESS WILL FOLLOW

This is yesterday's post.

Absolutely I agree wholeheartedly. There is also the aspect of having 'negative' people in your life, especially on a personal level. Get rid of them! I don't mean that you have to pick a fight and banish them from your life. Just disengage. Vanessa Paige, my clairevoyent, my friend and my mentor always says - if someone doesn't serve your soul - get rid of them. The bottom line is that they will literally bring you down. Don't go there. Rather surround yourself with people who are upbeat and positive themselves. Who make things happen rather than sitting around and waiting for someone else to make it happen and then complain because it didn't happen fast enough.

Liken this life that we live to a movie - you are the star, the writer, the director - it's your movie, so make it go the way that you want it to.

Have an awesome week!

'Think positive and success will follow'
John Mullins

28 June 2007 at 11h00

I know I'm not the first or the last person who's going to suggest that the secret to your success is the power you hold within yourself. Whether you choose to believe it is another question entirely. There are hundreds of authors and speakers out there who touch on the same thing. "It is all up to you," they say. Frankly, it's getting a little tired. But my next question is, "So why don't we all get it then?" I keep coming back to this rather troubling question. What really is the secret of success? It seems that it has been a well guarded secret all along. But now one person has taken the trouble to research a link between many of the world's most famous philosophers and motivators. It comes down to some simple truths.

In her book The Secret, Rhonda Byrne manages to describe a common thread between centuries of writings. The golden thread is that we can change our world through our own thinking. Despite critics who believe she's oversimplifying life, what Byrne does is to bring hundreds of theories together in a powerful message. And the message is all positive. Without going into the detail of the book, I want to highlight some of the things that make a lot of sense to me. Let's start with the idea of thinking your way to success. It's difficult to argue that creation is not preceded by thought. Although some of the greatest inventions of the world happened in an instant and by accident, they were seldom without any thought. On the contrary, in most cases you hear about the tremendous power of the mind, as inventors overcome failure, criticism and massive problems.

More recently, there has been an increase in what can be called "positive psychology". Instead of focusing your awareness on problems, deficiencies and shortcomings, you should be harnessing the good you have, your strengths and positives.

As the secret reveals, positive thoughts attract positive results, while focusing on negatives tends to bring on more problems. Apply that in your own life for a second. Can you see how your thoughts can be contagious? Have you ever felt that when you were surrounded by negatives, you became negative? Imagine you could control your thoughts to always achieve positive outcomes. Well, the truth is you can. You just need to learn some of the basic steps that will ensure your positives outweigh your negatives. This is where feelings also play a role. You would be excused for thinking that this is about the logical and rational world of thought. Not true. Emotions are critical in helping us stay in the positive. Emotions reveal our thoughts. If you are feeling bad, it's because you are consumed by negative thoughts. As the secret says, it's impossible to have bad feelings with positive thoughts. So if you are constantly feeling down, you need to change your thought patterns.

The minute you stop believing that your thoughts can change your situation, you give yourself up to circumstances. This is dangerous, as your mood is controlled by things around you. From here you begin to think that some other force is to blame for your problems. Yes, things could happen to you. Some of these things could be bad, but you still have the choice of how you wish to think and feel about the situation. My advice is to learn from the bad things and celebrate the good. Keep yourself in a positive frame of mind, and soon the bad will be less significant. If you are constantly getting a raw deal, it could be that you have not been able to shake off a negative pattern. Take note of where your luck originated from. It's inside of you. Bad luck will disappear if you change the source. If you don't, success will only ever be a fantasy.

John Mullins can be contacted at John.Mullins@peoplefutures.com

THINKING WITH YOUR HEART COULD COST YOU

Finally someone who has written an article on something that I have said so often, I sound like an broken record!

Put proper procedures in place - they take the emotion out of the situation! Play the facts not the individual.

If it's not in writing, it ain't worth the paper it's written on!

One day someone will listen to me and then I won't have any work! Not going to happen I'm afraid. There is always someone out there that knows better and at the end of the day, they are the ones that pay the biggest 'school fees'!

Thinking with your heart could cost you

Companies make the mistake of trying to settle outside of court and often pay the price
04 January 2007 at 19h00

When dealing with disciplinary matters and individual labour-law disputes, greater focus has to be placed on managing such risks in a cost-effective and pragmatic manner. Too many individual cases are being handled by means of a costly and mechanical approach, and unfortunately, the presence of subjective emotions in dealing with these matters effectively, is too prevalent amongst both employers and employees. Hereunder are some examples where emotions have cost the employer and employee dearly and which highlight some very important learning points, mistakes being made and issues to consider when planning and implementing these customary industrial relations (IR)/labour-law processes.

The first example is that of a senior accountant who referred her alleged unfair dismissal to the CCMA for arbitration. The employer had a strong merit case. However, a primary witness had emigrated and the company was forced, at all costs, to negotiate a financial settlement. Notwithstanding the aforesaid predicament, which the other side was not aware of, the individual believed that she was entitled to a 24-month (R408 000) settlement even though her dismissal was not an automatically unfair one. In the four days preceding the arbitration, the individual, her labour lawyer and the company's advocate met three times. And no amount of explanation, from both legal representatives, could induce the emotionally charged individual to understand, for example, that she would not get an arbitration award remotely close to her perceived and legally unjustifiable entitlement, if anything at all. It was only the day before arbitration, when she realised that she would have to represent herself, that she settled on three months (R51 000) and still had to pay her own legal fees of approximately R16 000. This was very fortunate for the company as it would probably have received a much greater award due to the absence of an important witness.

Another case that comes to mind is that of a sales executive who was charged by his employer with misconduct, mainly insubordination, and non-performance-related issues. After having charged the individual, the company appointed a labour-law advocate to chair the disciplinary hearing and an external IR consultant to act as "prosecutor".

Before the company's evidence had been completed, the accused was removed from the hearing proceedings (for just and fair reasons) on the 32nd day and the hearing continued in his absence. A total 107 90-minute tapes and a direct expense of R760 000 bear testimony to the duration and cost, notwithstanding the "prosecutor" having withdrawn many charges in order to save time and costs. However, early in the disciplinary proceedings, the IR consultant pre-empted the possible duration and cost, and advised the board, which conceded to offering a settlement of up to 12 months (R204 000) Settlement was not to be as the employee wanted payment until he some day found another job. This was unacceptable to the board and the disciplinary hearing continued. The outcome was a dismissal in the inevitable CCMA arbitration and after that, a further R340 000 was spent in legal fees. The dismissal was upheld. An unfortunate and costly exercise for the employer and for the foolhardy individual who had forsaken a R204 000 settlement and still had to pay his legal fees.

Another emotions-driven example is that of the owner of a medium-sized manufacturing concern which was at the receiving end of a default judgement of 24 months' compensation (R216 000) for dismissing a female employee, in writing, due to her pregnancy, which is an automatically unfair dismissal. The employer's reputable labour lawyer, who only got involved after the award, was trying to explain to this self-righteous employer that there are no legally justifiable grounds at all for a rescission application and that he was merely wasting money. However, as we all should know, the employer's sentiment of "where-I-come-from-this-would-never-have-happened" was not going to sway a Labour Court judge. Although obviously not so, we should all know by now that emotions do not win any arbitration or Labour Court cases, but that facts do!

Rather use your head and not your heart when trying to resolve individual disputes, by facing practical realities and managing your risks.

Pierre Marais is managing director of the Labour Law Group. Contact him on 011-679-5944 or via e-mail on labourlaw@global.co.za

AUDITING IN NEED OF TRANSFORMATION

Wow! It seems that there is a very real shortage of skilled financial people out there and a very real shortage of youngsters getting this kind of skill.

It's a no brainer people - you need to meet the challenge.

Auditing in need of transformation
14 May 2007 at 04h00

The Independent Regulatory Board for Auditors (IRBA) has raised the alarm over a shortage of coloured auditors in South Africa, as only 38 are registered to sign audit opinions. Kariem Hoosain, chief executive of the IRBA, says the figure is "worrying". He wants to encourage more coloured people to pursue the registered auditor qualification. "It's a particularly auspicious time to follow this career path as financial skills are very much in demand in South Africa, with salaries and job prospects rapidly growing, not just in auditing firms but in private and listed companies as well as the government sector." Hoosain says in November's Public Practice Exam, the final test to qualify as a registered auditor or chartered accountant, only 115, or 4,7 percent, of successful candidates were coloured, out of 2 451. Of those that passed, 15.7 percent were black, 12 percent Indians and 67 percent white."We hope many of those who passed the exam will register to become RAs now they are eligible."

He says since 2000 there has been a 66 percent increase in coloured candidates passing the exam, compared to a 272 percent increase in blacks. "Although numbers are increasing and progress is being made, it's not happening fast enough." He says the IRBA plans to increase awareness of the qualification in coloured communities. "We plan to raise funds for bursary schemes so more people have access to the qualification, as well as making visits to several key campuses. The IRBA will also raise the issue through targeted media." Hoosain says candidates who have to repeat the exam should take advantage of the IRBA's programme designed to assist such candidates to pass.

Yay! Up to date again!

Oh boy am I glad that this is a thing of the past - it really didn't serve any purpose other than to actually make the company lose credibility. Well done!

Tokenism 'on its way out'
06 March 2007 at 04h00

The slant on "tokenism" has taken an interesting turn in recent years, according to Madge Gibson, a senior associate at Jack Hammer Executive Headhunters." In the past, tokenism was often associated with resistant corporates who wished to be seen as publicly compliant on "all matters BEE", when in fact they were simply manipulating the system by appointing EE (employment equity) candidates to senior positions while giving them little actual responsibility.

"Nowadays, many companies … are genuinely embracing transformation and tokenism is becoming increasingly rare," Gibson said. "However, it does still creep in from time to time, but the mere whiff of an appointment being associated with tokenism is enough to put off most senior EE candidates. "We are regularly encountering this scepticism, where diversity candidates want to be appointed for their expertise - not the colour of their skin."