Interesting Court Judgment no 2

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Jack Welles
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Re: Interesting Court Judgment no 2

Unread post by Jack Welles » Fri Aug 16, 2019 8:26 am

Theuns v V wrote:
Fri Aug 16, 2019 8:09 am
will be interesting to see if the eff will help pay for the 1.5 she owes....
OK so lets say he knows he will have to pay back the 10 mil, he sells off the properties and "looses" the monye, I assume that will be a criminal matter?
Talking very generally they can "undo" the transactions. And, no, I do not believe the EFF will help her pay. They are battling to meet their own costs orders, not to mention the R500k plus costs they owe Trevor Manuel for defamation.
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Re: Interesting Court Judgment no 2

Unread post by Theuns v V » Fri Aug 16, 2019 8:35 am

interesting and expensive times indeed 8-[
The low level pawns will start falling but I very much doubt we will ever see any high profile polotitio n ever wear an orange jumpsuite....it just doesnt work that way :(
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Re: Interesting Court Judgment no 2

Unread post by Jack Welles » Fri Aug 16, 2019 8:52 am

Theuns v V wrote:
Fri Aug 16, 2019 8:35 am
interesting and expensive times indeed 8-[
The low level pawns will start falling but I very much doubt we will ever see any high profile polotitio n ever wear an orange jumpsuite....it just doesnt work that way :(
We can but hope [-o<
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Theuns v V
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Re: Interesting Court Judgment no 2

Unread post by Theuns v V » Fri Aug 16, 2019 9:57 am

You know what they.say about hope - to.believe against all evidence and logic that things will be better than today....
But sure. Let's "hope" someone.out there can turn the ship around before we reach the event horizon
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Jack Welles
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Re: Interesting Court Judgment no 2

Unread post by Jack Welles » Fri Aug 16, 2019 10:42 am

Theuns v V wrote:
Fri Aug 16, 2019 9:57 am
You know what they.say about hope - to.believe against all evidence and logic that things will be better than today....
But sure. Let's "hope" someone.out there can turn the ship around before we reach the event horizon
I don't know who "they" are so will just go with the dictionary definition, ie:
, verb 1. want something to happen or be the case.
And just "hope" that that's not in vain :lol:
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Re: Interesting Court Judgment no 2

Unread post by Splat » Fri Aug 16, 2019 11:10 am

Jack Welles wrote:
Thu Aug 15, 2019 6:37 pm
Splat wrote:
Thu Aug 15, 2019 3:01 pm
snoopy wrote:
Thu Aug 15, 2019 1:28 pm
His portfolio is worth 3 times more than R10 million - not bad for a person who worked in a SOE for 1 year and 7 months. I wonder what CEO in a private company would get R30 million pension for less than 2 years employment.
I think Whitey Basson got more. edit... then again I must read, lol, he worked far longer than 2 years :roll:
Whitey Basson was earning +-R50 million per year at the end - but he deserved it - he made that outfit what it is today. Length of time isn't that relevant. It seems easy when these guys do it but it isn't easy. Good example is Pick 'n Pay . Raymond Ackerman built that up into a behemoth of a retail company. Since he retired all they've managed to with it is tread water. Whitey Basson earned what he was paid.
Agreed, submitted a paper on Basson's 2010 earnings last night, R627 million for the year :shock:
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Re: Interesting Court Judgment no 2

Unread post by MadMacs » Fri Aug 16, 2019 1:42 pm

snoopy wrote:
Thu Aug 15, 2019 1:28 pm
His portfolio is worth 3 times more than R10 million - not bad for a person who worked in a SOE for 1 year and 7 months. I wonder what CEO in a private company would get R30 million pension for less than 2 years employment.
Well seen as salaries in the private sector are at least three times higher than in the state sector, probably lots.
I'm not old, I'm 18 with 46 years of experience :D
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Re: Interesting Court Judgment no 2

Unread post by Airwayfreak » Fri Aug 16, 2019 1:52 pm

snoopy wrote:
Thu Aug 15, 2019 1:28 pm
His portfolio is worth 3 times more than R10 million - not bad for a person who worked in a SOE for 1 year and 7 months. I wonder what CEO in a private company would get R30 million pension for less than 2 years employment.
Wasn't he also a director of the Industrial Development Corporation ?
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Re: Interesting Court Judgment no 2

Unread post by Jack Welles » Fri Aug 16, 2019 2:23 pm

In the private sector share options can also play a major role in building wealth. Given that the SOE's are 100% owned by govt as the shareholder maybe (speculating) that avenue is covered by bonuses (for screwing things up :evil: ).

As an aside: the possibility of folk accumulating irregular wealth is why it's critical that all of the "heavyweights" in the public sector (including SOE's) should be subjected to regular lifestyle audits [-o<
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Re: Interesting Court Judgment no 2

Unread post by Jack Welles » Fri Aug 16, 2019 2:46 pm

I'm no fan of Molefe but AFAIK he's worked (ha ha) all his life in the public sector. One of his gripes is that when he transferred to Eskom his pensionable amount or whatever was transferred from his previous apointment to his last mentioned one. Clearly that claim was rejected all the way to the Concourt. But in essence what I'm saying (without in any way defending what I consider the indefensible) is that the amounts weren't just for a few month's work.
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Re: Interesting Court Judgment no 2

Unread post by Whirly » Mon Aug 19, 2019 11:21 am

Jack Welles wrote:
Fri Aug 16, 2019 2:46 pm
I'm no fan of Molefe but AFAIK he's worked (ha ha) all his life in the public sector. One of his gripes is that when he transferred to Eskom his pensionable amount or whatever was transferred from his previous apointment to his last mentioned one. Clearly that claim was rejected all the way to the Concourt. But in essence what I'm saying (without in any way defending what I consider the indefensible) is that the amounts weren't just for a few month's work.
R4 million was transferred from Railways to the Escom pension fund for him.

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Re: Interesting Court Judgment no 2

Unread post by Marius Schrenk » Mon Aug 19, 2019 4:41 pm

Whirly wrote:
Mon Aug 19, 2019 11:21 am
Jack Welles wrote:
Fri Aug 16, 2019 2:46 pm
I'm no fan of Molefe but AFAIK he's worked (ha ha) all his life in the public sector. One of his gripes is that when he transferred to Eskom his pensionable amount or whatever was transferred from his previous apointment to his last mentioned one. Clearly that claim was rejected all the way to the Concourt. But in essence what I'm saying (without in any way defending what I consider the indefensible) is that the amounts weren't just for a few month's work.
R4 million was transferred from Railways to the Escom pension fund for him.

Whirly.
:lol: :lol: Seems he has been "done in" by the army......being a colonel and all. :wink:
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