The SA sugar industry has had a 27% yoy reduction in sales, owing to our sugar tax coupled with significantly lower world sugar prices. The latter is attributable to cross-subsidisation of sugar production elsewhere.
VBS bank: the funds plundered from that bank is said be in the region of R1.5 billion. Several municipalities illegally invested in that bank; I cannot recall having heard of any municipal official being taken to task over this? The curators of this bank are reportedly going after the plunderers of funds by way of sequestration proceedings. The perpetration of such an enormous fraud deserves criminal proceedings; gaol-time is what is called for.
SAA has announced that it will seek a minority private sector equity partner. One must wish them good luck with that! Who would fund a scheme of that size without the certainty that the will to turn it around exists. If that will existed, a partner would not be necessary.
Commenting upon stalled road construction projects Sanral said “People are anti-fuel levy now. So now, you can’t use the fuel levy. And then public funds are not sufficient”. One wonders why the fuel levy that we which started out as a fund to develop our road infrastructure, cannot be used.
Above reproach: Caesar divorced Pompeia after Clodius, apparently intent on seducing her, had gained entrance into the festival of Bona Dea, was charged for sacrilege but was found not guilty. His reasoning was that Caesar’s wife should be above suspicion. This principle still stands today and applies particularly to persons in high office. The breach of this results in dubious candidates being considered for positions for which they should never be considered simply because of this reason. The Financial Planning Institute has suspended its examination authority because candidates had apparently bribed staff to ensure a pass. This is the second time that this has happened…
I am a fan of Prof Jansen: one has a respected academic who speaks often unpleasant truths and is not afraid to do so. His latest offering deals with education: the fact is that getting into a prestigious school does enhance one’s chances of progressing in life. Mere enrolment in schools is a great statistic often bandied around, but what counts is the quality of teaching and outcome. Not one activist organisation has focused on just this issue and our Minister has been unable to persuade the teachers’ union to submit its members for competency testing. Education is not the great leveller we are taught it is; good education is.