BEE

ironrod said:
Redressing what was perpetrated by Apartheid.
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Yes that's going to fix it. Give something away to someone for free and then in ten yrs time there will be sweet bugger all left. These people who should be benefiting know nothing about running a business and the guys who do are the Sexwale's and Ramaphosas. They are the only ones benefiting
 
I know a family business that supplies to the mining industry and they got told the same thing. The solution is to create a marketing company that has no assets whatsoever and the original company supplies to that. The marketing company deals with the mining companies. You also set it up that the 'directors' of the company only get remunerated on income they earn.
 
Albereth said:
I know a family business that supplies to the mining industry and they got told the same thing. The solution is to create a marketing company that has no assets whatsoever and the original company supplies to that. The marketing company deals with the mining companies. You also set it up that the 'directors' of the company only get remunerated on income they earn.
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Thats exactly what Cisco did locally. The real money generating company remains untouched.
 
marine1 said:
Wrote my english exam - IELTS on the weekend so please god I passed and then we submit the docs to OZ. Once that is approved - bye bye you racist pigs. You can have what is left of this country. When it is burned to the ground please don't cry about it.
Sorry but I have had enough !!!
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Just got my IELTS results yesterday - All good. Now can start the actual VISA application. Also looking forward to it - Cannot wait to get the visa :)
 
Kim_Webchick said:
I don't agree with BEE I have a friend who has had their company for years and they have also been told to become a BEE company they have sweated blood and tears to get where they are and now they have to give up half their company where is the justice in that?????
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Are they forced? If they don't want to sell a stake to a BEE investor to leverage that relationship for growth and/or sustainability of their company, then its their business choice!
 
Bernie said:
Just got my IELTS results yesterday - All good. Now can start the actual VISA application. Also looking forward to it - Cannot wait to get the visa :)
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I am so jealous, I really dont think I passed, there were 400 people writing and it was so cold I couldnt feel my legs. Really had a bad exam. Worst case I will have to write again - book an emergency exam. :(:(
You going to OZ?
 
marine1 said:
I am so jealous, I really dont think I passed, there were 400 people writing and it was so cold I couldnt feel my legs. Really had a bad exam. Worst case I will have to write again - book an emergency exam. :(:(
You going to OZ?
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I had exactly the same experience, wrote in Braamfontein, couldnt feel my fingers properly. And in the speaking test, I stuttered, couldnt talk properly, spoke the biggest BS I can think of, I'm sure the interviewer thought I was the biggest idiot out :p But I got a 9.0 for speaking - go figure. Ja, busy with Oz application.
 
marine1 said:
No longer a free economy. Next is land, Firearms have already happened. Wonder what is next after land.....Seems there is a great plan for us all.
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yes. first, removal of everything that we have worked for. and then us.
 
dlk001 said:
Are they forced? If they don't want to sell a stake to a BEE investor to leverage that relationship for growth and/or sustainability of their company, then its their business choice!
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The problem is that a lot of BEE investors do not add any value beside their colour. A couple will have connections with higher ups in government but mostly its just colour. The only reason that this is attractive to companies is because of the twisted reality the government has created in its ignorance.

So if you're choosing a BEE partner you might as well get the best connected one you can right? How many of those are there? I don't think they qualify as disadvantaged anymore. So what was the point of BEE again?

When looking at how this situation has played out there are only 2 reasonable conclusions to come to:

1. The government is so monumentally incompetent that they were unable to realize that their policies would turn out like this

or

2. The government knew exactly what effect their policies would have and saw it as a great opportunity for them to cash in quickly.
 
Bernie said:
I had exactly the same experience, wrote in Braamfontein, couldnt feel my fingers properly. And in the speaking test, I stuttered, couldnt talk properly, spoke the biggest BS I can think of, I'm sure the interviewer thought I was the biggest idiot out :p But I got a 9.0 for speaking - go figure. Ja, busy with Oz application.
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Wow same thing, it was freaking freezing, I wrote on the 12th July, praying to god I passed.
 
icyrus said:
The problem is that a lot of BEE investors do not add any value beside their colour. A couple will have connections with higher ups in government but mostly its just colour.
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Very true. On same token, a lot of companies do not want operational BEE partners. They just simply want equity investors who will remain passive. Those deals tend to have political connected people.

icyrus said:
So if you're choosing a BEE partner you might as well get the best connected one you can right? How many of those are there? I don't think they qualify as disadvantaged anymore. So what was the point of BEE again?
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It depends on what you want. Goldfields are happy with an equity deal with a connected person while Anglo prefers many operational BEE deals at each subsidiary. Big equity deals tend to get the most media focus. There are thousands of operational BEE deals facilitated by Banks, IDC, NEF etc.
 
icyrus said:
2. The government knew exactly what effect their policies would have and saw it as a great opportunity for them to cash in quickly.
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They know what they are doing. They are communists. Communists always stick to what they know.
 
dlk001 said:
Very true. On same token, a lot of companies do not want operational BEE partners. They just simply want equity investors who will remain passive. Those deals tend to have political connected people.
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Which is understandable given the position they find themselves in.

dlk001 said:
It depends on what you want. Goldfields are happy with an equity deal with a connected person while Anglo prefers many operational BEE deals at each subsidiary. Big equity deals tend to get the most media focus. There are thousands of operational BEE deals facilitated by Banks, IDC, NEF etc.
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Partnering with companies that add value makes sense in any business. I have a problem with the government created conditions that make skin colour a business value. A highly sought after value.
 
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