Market commentary
Graeme looked at the day's trading trends.
Guest: Graeme Korner
Organisation: Alpha Equity
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Woolies buys back franchises
Woolworths has announced it will buy back its stores from franchisees. However Engen stores will be unaffected by the development.
Guest: Syd Vianello
Organisation: Nedgroup Securities
Position: Retail Analyst
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Discovery results spectacular
Discovery has reported a 36% increase in profits.
Guest: Adrian Gore
Organisation: Discovery
Position: Chief Executive Officer
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Market wrap
Graeme looked at the day's markets.
Guest: Graeme Korner
Organisation: Alpha Equity
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Rules tighten for Zimbabweans
The South African government has decided to end the special dispensation introduced in March 2007 that allowed Zimbabweans to live in the country without residence papers. Cabinet said on Thursday the Zimbabwean government has agreed to provide all its citizens currently in the country with the necessary documents to be able to apply for South African visas.
Zimbabweans who do not have the right papers after December will be deported.
Government spokesperson Themba Maseko said, “All Zimbabwean nationals will be given up until December 31 to return to regular status of South Africa. They must apply for Zimbabwean official documents and a permit to be in South Africa.”
Braam hannekom spoke to Mike and pointed out that there will be huge pressure on Home Affairs, many more people flocking to the refugee centres and problems, not only for Zimbabweans residing here but for those who employ them.
Guest: Braam Hanekom Organisation: PASSOP (People against suffering, suppression, oppression & Poverty) Position: Founding Member Website: www.passop.co.za
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Strike LatestGovernment on Thursday said it was still waiting for striking public sector unions to formally respond to its latest offer. On Wednesday night unions said they were rejecting the offer but government said it was still waiting for official confirmation.
Government's latest offer was upped to 7.5 percent and an R800 rand housing allowance.
Today however, in Johannesburg a group of striking workers handed over a memorandum at the High court and complained about the interdicts the court has issued against workers. Joe Mtisi, provincial chairman of the National Education Health and Allied Workers Union said that the government should not behave like "witches in the evening" with the court interdicts. He vowed that no public servants would enter the court but added that they were not thugs.
Protestors also marched through downtown Johannesburg. Several hundred workers gathered in Newtown and were addressed by union leaders, saying those who failed to heed the call to strike were "parasites" and must not be allowed to benefit form the sweat of the demonstrators. Union leaders called for the strike to be intensified and for government institutions to be shut down completely.
Mike asked Patrick Craven about the issue of intimidation. Craven said that they condemned this but they are not a police force and if the law has been broken the law must take its course. He intimated that it was not for them to control their members, just educate them and act on their behalf and he also said that the press picks out the bad incidents as that is what sells papers. He feels that to improve service you must improve the lot of the workers as one can’t provide world class service if people are struggling to exist on what they are being paid.
Guest: Patrick Craven Organisation: Cosatu Position: Spokesperson Website: www.cosatu.org.za
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South Africa's most valuable suburbs
According to recent research done by Lightstone Properties the Cape Town coastline has some of the most sought after property in South Africa. Clifton claimed the number one spot in the 2010 list of South Africa's most valuable residential areas with an average house price of almost R12 million. Nearby Llandudno came in third with an average house price of R8m. Trendy, cosmopolitan Camps Bay was ranked 10th, with house prices at an average of R6.6m, Hayley Ivins who conducted the research did say that Golf Estates still feature prominently, Steenberg Golf Estate in the winelands area of Constantia was ranked the second highest-priced suburb in the country, at an average house price of R11m.
Guest: Hayley Ivins
Organisation: Lightstone Properties
Position: Property Consultant
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Apple's new gizmos
We were introduced to a new line-up of Apple's iPod range – a gadget that has sold some 275m units and revolutionised music listening habits. New iPod shuffle and iPod nano devices, neither much bigger than a commemorative Christmas postage stamp, were overshadowed by its bigger brother, the iPod touch – trumpeted by Jobs as not only being the best-selling iPod, but the most popular portable game player in the world. This will now have an improved retina display, gaming functionality, an HD video recorder and two cameras, thus allowing it to run FaceTime, Apple's videophone technology. In essence, an iPhone, just without the phone.
Also unveiled was a music-based social network called Ping which can be used both as a means of communicating with fellow music lovers and for artists to communicate with fans. And the "buy" button will always be right there.
Another exciting announcement is the new AppleTV, a quarter of the size of its rather unpopular elder brother and retailing at under £100– that will allow us to rent and stream TV shows for pence, and HD movies for not much more. News of the content that'll be available is still to be confirmed, but by saying goodbye to the downloading and purchasing of online video, and making it easier and cheaper than ever before to watch that media on your television, illegal downloading may suddenly feel like a waste of time and effort. The media industry will be delighted – but they'll also be waiting anxiously to see how willing we are to part with our money.
Guest: Toby Shapshack
Organisation: Stuff Magazine
Position: Editor
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Strikers in Kayelitsha
Mike spoke to a teacher from an FET college in Kayelitsha who was busy conducting an exam as a group of strikers entered the building, storming through the rooms, grabbing exam papers and generally creating chaos. Most of the students had finished writing, but some were still busy. Manya tried to hold onto the completed exam papers, but they were taken and were strewn around and torn up. The strikers eventually cleared the building and warned everyone not to come back tomorrow or the consequences will be worse.
Guest: Manya Kruger
Organisation: FET College
Position: Teacher
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Backlash over Blair book and Foreign Secretary gay allegations
There is a backlash in Britain over former Prime Minister Tony Blair's autobiography. Our correspondent in London says that Blair says he has no regrets over the Iraq war saying he felt he made the right decision. However, he added that Blair is giving the royalties from the book to a charity for troops who got injured in combat in Afghanistan or Iraq. He has also slated Gordon Brown in the book. Brown has been silent on this. We also spoke about the Foreign Secretary, William Hague, whose aide has resigned over allegations that they are having a gay relationship. They have apparently admitted to having sharing hotel rooms during the election campaign. This has been interpreted as them having a gay affair. This would be ok, he said, except that Hague is supposedly happily married. He has released an extremely personal response to this.
Guest: Gavin Grey
Position: UK Correspondent
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Maputo riots
Demonstrators in Mozambique’s capital Maputo have reportedly blocked roads with burning tyres and are looting shops as the riots sparked by soaring bread prices entered a second day. Police said yesterday that at least six people were killed, including two children, as police opened fire on protesters in the worst riots to hit the country since 2008. The rioting was prompted by a 30% rise in bread prices. A reporter in Maputo told the MR that the riots are being organised through sms’es. This is what happened in 2008 as well, he said. There are a number of factors behind the riots, including the falling of the value of the local currency. This means that local wages have fallen, but there has also been an increase in the price of bread, fuel and even school fees so people cannot take it anymore. Yesterday, he said the riots were bad and the capital almost came to a standstill. Many people have been arrested, he said, and he thinks this figure will go up to about 200.
Guest: Elias Samo Gudo
Organisation: Mozambican News Agency, AIM
Position: Reporter
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Satirical website closes down
The very funny South African satirical website, hayibo.com, is closing down. It appears that the closure is because a lack of advertising revenue. Hayibo was founded in January of 2008 as South Africa’s first satirical news website and, in its own works, “quickly established itself as the second-best source for made-up news after the SABC”. One of its founders, writer Tom Eaton, told the MR that it didn’t come as a surprise to them. They will try to keep the website up for a while. The team are all writers anyway and so will probably all just go their separate ways. But writing satire is pretty compulsive he said and so he is sure he will come out again some way.
Guest: Tom Eaton
Position: Writer and co-founder
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Financial Mail
In our weekly look at the latest edition of the Financial Mail, we discussed the cover story on what shares are best to be investing in at the moment, the piece on President Jacob Zuma’s visit to China and Old Mutual selling off its R12 billion property portfolio.
Guest: Stafford Thomas
Organisation: Financial Mail
Position: Journalist
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Motor industry strike
A strike in parts of the motor industry continues with a wage rise of 20% being demanded by NUMSA for workers at petrol stations, workshops, vehicle component manufacturers and dealerships. The Retail Motor Industry and Fuel Retailers' Association have offered them a 6% wage hike. VWSA yesterday became the first major manufacturer to completely halt production as a result of the strike. The head of the motor manufacturers association, NAAMSA, told the MR that he thinks the balance of the industry will be out of production by Monday. He said the consequences of the strike will be severe and if it continues for a long time, it could even result in loss of employment. Meanwhile NUMSA says the strike in the motor industry will continue until workers' demands have been met.
Guest: Nico Vermeulen
Organisation: NAAMSA
Position: Director
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Post Cabinet briefing
Cabinet has urged the public service wage negotiators to urgently find an amicable and win-win solution to the strike, but added that even the latest offer is unaffordable. Following the Cabinet's regular meeting yesterday, government spokesman Themba Maseko said the government would continue to do all it could to bring the strike to an end. Our reporter said government made it very clear that it could not afford the increase they have offered.
Guest: Stephen Grootes
Organisation: CapeTalk / 702
Position: Eyewitness News Reporter
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Strike march in Jhb CBD
Cosatu members are marching in downtown Johannesburg in support of the public service strike. Our reporter at the march told the MR that they were expecting several thousands of people to come, but there are only perhaps at most a thousand people. He said however that whilst there were not that many strikers on the march, the sentiment expressed was very strong.
Guest: Alex Eliseev
Organisation: Eyewitness News
Position: Reporter
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MSF concerned about the effect of strike on chronic healthcare
Médecins Sans Frontières or Doctors Without Borders MSF has called on the government and trade unions to ensure uninterrupted supply of HIV, TB, and other chronic disease treatments in public health facilities. It said that as an international medical humanitarian organisation it condemns the full or partial closure of vital antiretroviral therapy, TB, and other chronic medication services at public sector facilities due to the strike. It called on the government to work with the unions to ensure these life-saving healthcare services are fully re-opened immediately – both at public sector hospitals and primary healthcare clinics. MSF told the MR that in many parts of SA these services are either not functioning or heavily disrupted. If you interrupt HIV treatment it can become resistant to the drugs available, so it can effectively be shortening people’s lives. He said HIV positive pregnant women are unable to access ART for purposes of preventing transmission of HIV to their babies.
Guest: Dr Gilles Van Cutsem
Organisation: MSF
Position: Head of mission in SA and Lesotho
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Public Sector strikeWe are now in the 15th day of the public service strike with no end in sight, in spite of a revised government offer which went up to 7.5% with an increase on the housing allowance as well. Reports this morning had Cosatu’s Zwelinzima Vavi categorically rejecting the offer, but also some indications of divisions on the ground especially among the teachers unions. There is also no clarity on what the non-Cosatu unions were going to do. Meanwhile Cabinet has reiterated its position that it cannot afford the new offer even though it will honour it, and that the money will have to come from cuts in other services. Cosatu and the Independent Labour Caucus will have further discussions on the latest public sector pay offer when they meet at noon. Our reporter said that apparently all the unions are not on board. The ILC is apparently split 50/50 on whether they can accept it or not. There has not been an official statement to government on whether the offer has been accepted or not. Guest: JP Du Plessis Organisation: Eyewitness News Position: Reporter Tel: 011 506 3555 Website: www.ewn.co.za
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LeadSA feature-What are the qualities of a good leader?In this, the first in a bi-weekly feature on Lead SA, Adriaan Groenewald, director of TowerStone Leadership Centre and Author of the weekly Leadership Platform column on the back page of the Star Workplace joins Redi in studio to talk about the qualities that make a good leader. Guest: Adriaan Groenewald Organisation: Tower Stone Leadership Centre Position: Director Website: www.towerstone.co.zaEmail: adriaan.groenewald@towerstone.co.za
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How did you manage bedwetting in your family?
Bedwetting is common among young kids but can last into the teen years. Doctors don't know for sure what causes bedwetting or why it stops. Is it best to use positive reinforcement and allow your child to grow out of it?
Guest: Clementine Mudie
Organisation: Private Practice
Position: Child Psychologist
Tel: 021 782 7573
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Green Tip
Chlorpyrifos, a well known active ingredient in pesticides has been banned for use in the home, garden and domestic professional pest control in South Africa. Experts say it has become increasingly implicated in adverse effects on people and pets due to irresponsible and blatant misuse of the product.
Guest: Terry Ivison
Organisation: Rentokil
Position: Technical Manager
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Africa Report UN peacekeepers up their patrols, as figure of mass rapes in the eastern DRC mounts. Clan groups within Somalia follow the Somaliland example of breaking away - but they need international help and Nigeria's head for a "demographic disaster" with British Council warns. Guest: Jean Jacques Cornish Organisation: Talk Radio 702 Position: Africa Correspondent Website: www.702.co.za
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Food riots in Maputo
He told us about the food riots in Maputo. At least four people including two young boys died as ordinary Mozambicans took to the streets yesterday protesting against bread and fuel increases. An anonymous email calling for the strike was widely distributed in the city early this week and this resulted in schools and shops being closed while taxi drivers stayed away from the city centre.
Guest: Johannes Myburgh
Position: AFP Correspondent
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UK ReportPolitical heat is mounting as the foreign secretary's forced to deny he's gay. Hospitals have experienced a huge rise in alcohol-related admissions and the TV Top Gear mystery, the Stig unmasked, is no more. Guest: Adam Gilchrist Organisation: Talk Radio 702 Position: U.K Correspondent Website: www.702.co.za
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The UK Report with Adam GilchristPolitic heat: the foreign secretary's forced to deny he's gay, William Hague says that the rumours are deeply distressing. He has never had a gay relationship.
Boozers in hospital: In 5 yrs there has been a 65% increase, 800 patients a day, a huge rise in alcohol-related hospital admission.
The Stig has been unmasked and the TV Top Gear mystery is no more. His identity remained a mystery for eight years and Ben Collins was finally unmasked by a high court judge.
Guest: Adam Gilchrist
Organisation: 567mw CapeTalk
Position: UK Correspondent
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Small Business Awards
The practice was established in 1996 and enjoys the local support of the friendly people of Alberton. She is an independent optometrist with four people in her employment. Lydia Pieterse Optometrist offer a friendly service and aims to make a difference in her community.
Guest: Pieterse Lydia
Organisation: Lydia Pieterse Optometrist
Position: Owner
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Obama's decision to pull out troops out of IraqHe talked about Obama’s decision to pull American troops out of Iraq after 7 years. This week he announced the end of major U.S. combat operations in Iraq, one of the longest and costliest wars in the nation's history. Critics of his speech announcing the pullout say he failed to acknowledge the "success" of the surge while others say he was right not to indulge in relitigating the stupidity that launched the war. Guest: Tim Hughes Organisation: SA Institute of International Affairs Position: Programme Head and Research Fellow Website: www.saiia.org.za
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Update on the talks between government and public service unions JP gave an update on the latest talks between government and public service unions. Yesterday Nehawu rejected government’s latest offer while Cosatu announced a suspension of their planned solidarity strike. Guest: JP Du Plessis Organisation: Eyewitness News Position: Reporter Tel: 011 506 3555 Website: www.ewn.co.za
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Strike update
AS UNIONS canvassed their members on whether to accept the government’s latest wage offer to end a crippling public service strike, analysts warned the terms of the settlement would put the budget deficit under pressure and may even prompt rating agencies to take a closer look at South Africa’s credit ratings.
Guest: Joe Emeran
Organisation: Cape Chamber of Commerce
Position: President
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US Report
Hurricane Earl is getting closer and becoming more threatening. A gunman took hostages near Washington, D.C. and the police moved in as well as a cell phone helps solve a robbery.
Guest: Harley Carnes
Organisation: Talk Radio 702
Position: U.S Correspondent
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The US report with Harley CarnesHurricane Earl getting closer more threatening and should hit by the weekend.
The gunman that stormed the Discovery Channel building near Washington, D.C has died after being shot by police
Guest: Harley Carnes
Organisation: 567 Capetalk
Position: US Correspondent
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Theft of sim card technology
A listener talked about the theft of SIM card technology from gate intercom units. The SIM card is then used by criminals to download data or gamble.
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Weather Trivia
People who move to richer countries don’t end up being happier.
Guest: Simon Gear
Organisation: Talk Radio 702
Position: Science Correspondent
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Open Line
Udo talked about the public service strike and the Correstional Service dept installing tv sets to the value of R1.5 million. Udo also spoke about whether South African regard eacth other in a friendly manner, as in do they treat other people and themselves in a brotherly and sisterly way. Received a lot of calls on the good and bad side of South Africa.
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Open line with Bafana Khumalo
In the open line the callers revisited the war in Iraq and there were questions about the supposed weapons of mass destruction that were never found.
Problems affecting woman attending the child support cases were discussed and listeners called in with held and advise to those woman attending the court cases and this lead to a little argument about fathers with some man defending other man.
There were a lot of public servants and private workers who called in to react on the rejected latest government offer.
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