BEE firms are on their own, says BMF

Londo

Londo

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Jimmy Manyi, the president of the Black Management Forum (BMF), on Friday spurned the possible government financial bailout of black economic empowerment (BEE) companies whose deals were underwater, saying those who had benefited from such "equity deals" would have to help themselves out of trouble.

"The deals' financial responsibility lies with the people who profited from those deals," Manyi said. "Why should the government cover them?

"When those deals went north, they benefited. So they must also be able to take the strain when the deals go south. They knew from the get-go that this was a game of people who have guts to take risks."
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http://www.busrep.co.za/index.php?from=rss_&fArticleId=4740059

+1

Who would have thunk that?

If you are gonna play with the chickens, don't cry when you get pecked.
 
Sneeky

Sneeky

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Manyi speaks with fork tongue, remember the empowered will just get another handout and another deal.
Just being empowered once is not the ANC way. They will be back under the banner of BBBEE.
 
S

sox63

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Sneeky said:
Manyi speaks with fork tongue, remember the empowered will just get another handout and another deal.
Just being empowered once is not the ANC way. They will be back under the banner of BBBEE.
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I'm amazed at how people, white in particular, feel that BEE is a hand out, and one would think the subject of the thread and the article would show them that this is not the case. NOTHING in life is free folks, nothing.

On the subject, I was at a BMF meeting last night, where one of the speakers, Lesetja Kganyago, said it best. BEE stands for Black Economic Empowerment, and he said it is designed to help black people participate in the economy, and thats when it good or bad.
 
Sneeky

Sneeky

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It all looks cosey on paper Sox, in reality we know what happens, we have seen the cadres rolling out there plans to exclude business's and such based purely on the colour of their ownership.
For people who vigourously opposed apartheid you are supporting a fundamentaly similar system.

I was all for it, honest, but what they have penned and hwat happens are 2 entirely different scenario's.
Paint me with whatever brush you wish.
 
D

dlk001

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sox63 said:
I'm amazed at how people, white in particular, feel that BEE is a hand out, and one would think the subject of the thread and the article would show them that this is not the case. NOTHING in life is free folks, nothing.
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It doesn't surprise me because most BEE announcements, media reporting concentrate on what makes the best news i.e "The value of the deal to the BEE partner". You hardly hear about what the BEE deals means to the other business counterpart.
 
Sneeky

Sneeky

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Why not be honest and just call it the Black Broederbond, the BMF that is!
 
S

sox63

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Sneeky said:
Why not be honest and just call it the Black Broederbond, the BMF that is!
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Are you aware that some 10% of the BMF membership is white? Add to that the fact that most of the corporate members are white owned companies?

It is an organisation that like-minded people who want to develop Black Managerial skills come together and interact regarding transformation challanges. Something widely acknowlaged to be lacking.

You seem to be a bit misinformed.
 
Sneeky

Sneeky

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Actually I am aware of that and there are certainly benefits to having your business comply with the policies prescribed by government. Not that they really have much choice though. ;)
This word transformation is being abused, as are the policies put in place by government.
The widening gap between haves and have nots should be evidence enough of that.

Manyi is also selective in what he puts forward. He wears many hats and does a JZee on the audience depending on which one is on his pip at that particular time.
When he is representing a company that robbed the people blind of their daily bread money he sings an unapologetic capitalist tune.
He also refuses to accept the skills shortages that evident in this society.
He believes we can cross train anyone. Maybe Home Affairs is a good place for him to investigate. A handful empowered, a nation crippled.

I have no beef with getting our business's neighbourhoods, workplace etc reflecting the demographics of our society, but what is happening around us at the moment leaves a lot to be desired.
 
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Hoof-Hearted

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sox63 said:
Are you aware that some 10% of the BMF membership is white? Add to that the fact that most of the corporate members are white owned companies?

.
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Interesting. What happened to the black corporates? One would think there'd be big buy in from black firms eager to get involved with development of black managerial skills. Or are they too busy making money to be bothered with upliftment ?
 
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sox63

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Sneeky said:
I see the Black Broederbond is at it again asking for more unlevelling of the playing field, based on skin colour.
http://www.iol.co.za/index.php?set_id=1&click_id=13&art_id=vn20081204140657474C577693
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Good to see BMF standing its ground, even if other organisations are calling for stricter BBBEE measures.

So Sneeky, would you vote for COPE then?
The Congress of the People (COPE) has come out against the implementation of affirmative action. COPE interim chairperson Terror Lekota says that the party is not against economic empowerment, but the way it's implemented as it discriminates against whites.
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http://www.sabcnews.com/portal/site...110VgnVCM10000077d4ea9bRCRD&vgnextfmt=default

Not even the DA has come out so bluntly about it.
 
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B

Balstrome

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sox63 said:
It is an organisation that like-minded people who want to develop Black Managerial skills come together and interact regarding transformation challanges. Something widely acknowlaged to be lacking.
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Who was it that came together to develop White Managerial skills?
 
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