A light-hearted look at some developments on the business and financial scene
* The Advertising Standards Authority (ASA) dismissed a complaint against a Paul Revere ad by the Tobacco Action Committee. The committee said the horse used in the ad was subjected to passive smoking, noting the rider’s cigarette was closer than a metre to the animal’s eyes and nostrils. The ASA said the ad did not condone cruelty to animals.
Tax tip for Katz
* China published a new law providing the death penalty for serious Value Added Tax (VAT) fraud, which cost the government more than $582-million last year. According to the Katz commission’s first report, the value of VAT evasion under investigation in South Africa includes more than R100-million from just four cases.
Dis mos gas
* A socio-economic report by the Central Economic Advisory Service on the R12-billion Mossgas white elephant noted: “Should Mossgas be closed it is expected that prostitution, divorce and suicide will increase. Child molestation and neglect will increase and the community will not be able to handle the burden of the support of additional unemployed
Is this praise?
* Remarking on the disparity between the impression given by Reserve Bank governor Chris Stals of strict monetary policy and the reality that monetary targets were being overshot, Chris Liebenberg quipped: “Dr Stals has achieved what politicians always aspire to: to do one thing and say another.”
What sauce!
* IT was revealed that the man who bested McDonald’s in a local court case over ownership of the famous trademark, local Chicken Licken franchisor George Sombonos, had once tried to stop other restaurants from using the word “salsa”.
Diverting payment
* Minister without Portfolio Jay Naidoo, stung by criticism of his office’s failure to deliver on the RDP, employed a host of new PR people for what were alleged to be high salaries. Labour Minister Tito Mboweni admitted he was struggling to find workers as, he said, he paid too little.
Prevent puns
* A video for Ansell condoms, the brand that has challenged the market penetration (sorry) of Durex in South Africa, has the unintentionally humourous comment, “Size isn’t everything”, to make a point about its commitment to quality.
One out of 4 ain’t bad
* A financial newsletter that made its debut in Hong Kong in March predicted Wall Street and other markets would begin to slide on May 26, followed by falls on June 6 and June 13. It also predicted Prince Charles would never be King of England.