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/ 11 November 2003

US blocks payout to Gulf war veterans

The Bush administration has blocked compensation for US soldiers captured and tortured during the first Gulf war, arguing that the money was now needed for Iraq’s reconstruction. Seventeen former prisoners of war were awarded nearly -billion in compensatory and punitive damages by a US federal court in July.

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/ 11 November 2003

Moneyweb on the money

Last Monday listed financial content provider Moneyweb Holdings released interim results that must have made larger media groups salivate. With the six months to September 2003 showing growth of 747% in operating income and 490% in pre-tax profit against the same period last year, the lesson is you don’t need to own the media channels to do well.

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/ 11 November 2003

The real road to hell

Afrox Healthcare CEO Michael Flemming minced no words in telling shareholders how the company derived its growing profits in the year to end-September. Medical inflation, he told Moneyweb, was responsible: the company charged about 10% more than the year before, while 5% was organic growth. Pat Sidley explains why a free-for-all in medical-aid rates is the ‘primrose path of dalliance’.

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/ 11 November 2003

SAA reduces air turbulence

South African Airways’s (SAA) appointment of a new management team last week brings to a close a year of turbulence marked by the departure of key staff. The national carrier had been set on a stable foot-ing in readiness for international competition and eventual privatisation, said SAA’s CEO and president André Viljoen.

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/ 11 November 2003

Long live the spin doctors

It has been a bad couple of years for Spin Doctors. As a political species they are on the endangered list, cut down to size pretty much everywhere you look around the world. They have often been architects of their own misfortune — the demise of Tony Blair’s right-hand communicator, Alastair Campbell, being the prime example. In South Africa, thankfully, they soldier on.