Huge SAA flight cancellations

[TysonRoux]

Solidarity lodges court application to place SAA in business rescue

Strike-hit SAA may not be able to pay salaries this month with the crippling seven-day-old strike having pushed the national carrier to the brink of financial collapse.

ewn.co.za

 

[koffiejunkie]

View attachment 745347

“From the CEO’s Office” - damn! Sounds like the opening of a 419 scam

 

[ForceFate]

Truly a disgrace that we're at this point with SAA. Completely incompetent

It was largely corruption that downed SAA

 

[The_Mowgs]

It was largely corruption that downed SAA

This is what is so sad. If those motherfuckers could just keep their dirty hands out of all of these cookie jars!!!

 

[Kosmik]

I don't see the point of business rescue, no-one will lend the company funds, nor will the current crop of idiots allow the required changes. As for the comments by one idiot that said let's close it and start again, that just proves they really haven't learnt anything. Also a bad mentality of rack up huge debt, cry foul, close and do it again.

 

[Vrotappel]

It was largely corruption that downed SAA

Incompetence is the playground in which corruption thrives.

 

[ForceFate]

Incompetence is the playground in which corruption thrives.

Even competent managers are prone to corruption.

 

[Sideshow Bob]

Even competent managers are prone to corruption.

Jooste called it accounting irregularities. It sounds so posh and elite. ANC should rename itself Accounting Irregularities Congress and it will sound posh as well.

 

[Sinbad]

Even competent managers are prone to corruption.

Competent management has controls in place so that one rogue/corrupt actor cannot get away with it for long.

 

[BBSA]

Even competent managers are prone to corruption.

It is very hard to execute the corruption if the correct systems are in place.

 

[krycor]

It is very hard to execute the corruption if the correct systems are in place.

Pretty much what I was gonna say.. on a organizational level this needs to be in place and usually it proactively prevents issues from getting too far.

But the exec that puts it in and brings in the changes where abuse is common often takes the brunt.

 

[The_Librarian]

+++ MELON MELON MELON +++

Out Of Oinker Slush Fund Error

Detonate Tsar Bomba And Redo From Start​

 

[Gaz{M}]

You don't borrow money to pay funking salaries. That's a sure fire sign you don't have a viable business...FFS

 

[Gaz{M}]

Or keep striking and drive this thing into the ground for the benefit of tax paying South Africans, and I say this with a heavy heart - I have a cousin whose dream it is to be a pilot, he's worked himself from a life of devastating poverty to being a qualified airoplane "mechanic" at SAA.

He will be fine. The demand is still there. Just not under the SAA banner anymore.

 

[ForceFate]

Competent management has controls in place so that one rogue/corrupt actor cannot get away with it for long.

Controls can be bypassed by same competent managers. Look at what happened with Jooste and his chairman.

 

[ForceFate]

It is very hard to execute the corruption if the correct systems are in place.

Hard but possible. A determined corrupt manager will find a way around the controls and exploit it.

 

[BBSA]

Hard but possible. A determined corrupt manager will find a way around the controls and exploit it.

You completely missing the point

 

[ToxicBunny]

Hard but possible. A determined corrupt manager will find a way around the controls and exploit it.

Only for a short period until the audits expose the problem and then the controls get tightened to close the loophole the corrupt manager found.

 

[The_Librarian]

Only for a short period until the audits expose the problem and then the controls get tightened to close the loophole the corrupt manager found.

Unless the auditor is also in the Pay of Pompeii.

 

[ForceFate]

Only for a short period until the audits expose the problem and then the controls get tightened to close the loophole the corrupt manager found.

That's partly my point. Corrupt practices can down a company before everyone else notices.

You probably recall the UBS scandal (rogue trader Kweku Adoboli...).