Business

When Yasmin Alibhai-Brown (20 January) laments the rich, she is seemingly oblivious that by her own country’s standards she is rich, and by developing countries’ standards fantastically rich. According to the Fraser Institute’s Economic Freedom of the World report, the income earned by the poorest 10 per cent of individuals in economically free societies ($11,610) is almost twice the average GDP per capita of people living in the least free nations ($6,253). If you are poor, the best place to be is in economically free societies such as Britain, as opposed to despotisms such as Zimbabwe, the Republic of Congo, and, increasingly, my home country of South Africa. We see millions trying to escape countries controlled by overbearing states to seek refuge in the richest and the most...
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Mr. John Martin CEO, Turner Broadcasting Dear Mr. Martin: I was alarmed to read about your plans to start 2015 as a leaner, more nimble company. This sounds like downsizing over the holiday season, which disappoints me as a job market enthusiast and saddens me as an Atlanta resident. First and foremost though, I am a problem solver, and therefore moved to contact you with urgency. I can tell you how to fix the Turner family of networks. Here’s where to start: Fix TruTV TruTV's online Crime Library has (for years) had a cult following. The Library offers quality non-fiction to those of us who can’t pull the trigger on a novel, but love to stumble into a page turner. The CL is also a decent research tool—its well-organized narrative format stands out in a WWWeb oversaturated...
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Should South African Universities open up Business Incubators? The issue of creating Business Incubators has been highlighted as the surest way of making small businesses succeed. The phenomena is not new at all. It swept America and most of the western world in the last 10 years and in smaller pockets some many years past. However, the new wave of Incubators have swept the South African Universities and most universities in Africa are waking up to this. There has been fierce resistance from academics who have always held the flag of “publish or perish”. The traditional universities have been more resistant to this new breed of thinking, while the technical universities warmed up to this new territory of creativity to which they are most familiar. Technical universities in South...
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Did you know? A few facts we need South African to know about our partners in the BRICS Nations. The combined population of this Economic grouping is about a little over 3 billion. This is huge, considering that the total world population is around 7 billion. BRICS therefore has close to 42% of the world’s population. China and India come 1st and 2nd in the list of the world’s most populous countries, with Brazil (200 million) at 5th position, Russia being 9th (143 million) and South Africa at 25th (50 million). In a quick conclusion we can easily say we are in very good company and we can economically take full advantage of our relationship with the two largest countries (in population measure) and with almost close to half of the world’s population on our side. There is a huge...
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Formation and roll out of Entrepreneurship clubs/societies at every High School in South Africa SA Teen Entrepreneur Foundation, A Non Profit Organization that was formed by a concerned parent with a sole aim of promoting and seeding a spirit and culture of entrepreneurship in South Africa, is looking for funding to realize this dream. If South Africa is serious about increasing entrepreneurial activity , then it has to support structures like SA Teen Entrepreneur Foundation that are planting the seeds of entrepreneurship in our young children. Currently there are approximately 18 million teenagers in South Africa. If we take the fact that there are 27,000 high Schools in South Africa say with an average of 600 children in each, we can conclude that there are roughly 16 million...
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Kris Engskov - My Open Letter Response to Starbucks UK Boss Kris Engskov, thanks for your letter today in the papers. I wanted to write back. I applaud you for the announcement. It’s great that Starbucks UK has committed to pay at last £20m in tax over the next 2 years, regardless of profit levels. However, I think something more significant can be done, so that you’re not just seen as caving in to public pressure and you are able to re-establish trust with us, your loyal customers. Bit of background on me as your customer. I visit Starbucks on average 10 times a week, and don’t use any other brand coffee shop. I would be considered a loyal advocate of yours. I check in constantly through Foursquare, have a Starbucks card and use the app to find nearby stores in London. Many...
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Today, we’re taking action to pay corporation tax in the United Kingdom– above what is currently required by tax law. Since Starbucks was founded in 1971, we’ve learned it is vital to listen closely to our customers – and that acting responsibly makes good business sense. Over the more than 14 years we’ve been in business here in the UK, the most important asset we have built is trust. Trust with our partners (employees), our customers and the wider society in which we operate. The fact remains that Starbucks has found making a profit in the UK to be difficult. This is a hugely competitive market and we have not performed to our expectations over the many years we’ve been in business here. It has always been our plan to become sustainably profitable in the UK. We annually...
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On 20 November Hewlett-Packard (HP) issued a statement accusing unspecified members of Autonomy’s former management team of serious financial impropriety. It was shocking that HP put non-specific but highly damaging allegations into the public domain without prior notification or contact with me, as former CEO of Autonomy.I utterly reject all allegations of impropriety.Autonomy’s finances, during its years as a public company and including the time period in question, were handled in accordance with applicable regulations and accounting practices. Autonomy’s accounts were overseen by independent auditors Deloitte LLC, who have confirmed the application of all appropriate procedures including those dictated by the International Financial Reporting Standards used in the UK...
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Mr. Brian Moynihan Chief Executive Officer Bank of America Corporation 100 North Tryon Street Charlotte, NC 28202 Dear Mr. Moynihan: Every American business – large, small, or in between – shares one quality: It is only as strong as its reputation for honesty. If customers lose trust and belief in the integrity of any business, they will look for this quality elsewhere, and not stop until they find it. Bank of America knows this. It vigorously defends its reputation and does not let its name be tarnished by false accusations. That is why it is truly unfortunate that B of A (which you serve as CEO) is attacking a longtime former client, Galaxy Gaming (which I serve as CEO). Let me tell you about Galaxy Gaming. We are a small, publicly-traded company in Las Vegas that...
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This was originally posted on Apple.com I have received hundreds of emails from iPhone customers who are upset about Apple dropping the price of iPhone by $200 two months after it went on sale. After reading every one of these emails, I have some observations and conclusions. First, I am sure that we are making the correct decision to lower the price of the 8GB iPhone from $599 to $399, and that now is the right time to do it. iPhone is a breakthrough product, and we have the chance to 'go for it' this holiday season. iPhone is so far ahead of the competition, and now it will be affordable by even more customers. It benefits both Apple and every iPhone user to get as many new customers as possible in the iPhone 'tent'. We strongly believe the $399 price will help us do just that...
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