And there it is. Another new high this morning.
55 355, which is about 700 points better than ever seen before. Today’s heavy
lifting has been performed by MTN which
now enjoys a market capitalisation more than double that of its competitor Vodacom.
These shares together with BAT and Sasol are big contributors to the
possibility that the All Share total return this month could exceed 6% -- the
best result in two years. And this is all happening while the country suffers
severe social strains and dislocations. Do note, however, that these are mostly
all rand hedge trades. That is, the companies concerned have many customers who
pay in dollars not rands.
Alongside the big and noisy protest marches
at various places around the country is some very delicate tiptoeing past the
nasty reality that the country is witnessing a huge surge of violent racism. In
order to deny this unmentionable truth everyone has been searching their
keyboards for the totally unused letter x and using the politically correct
word, xenophobia. The nation’s leaders have been swift to climb aboard this
sanitised bandwagon and join in the displays of hypocrisy and pretence with
promises that they will do something about it. Since they have done nothing for
many years about the shocking number of attacks and murders of local farmers and
suburbanites and have allowed the bulk of the police force to become just that
– bulky and ineffectual – there is little hope of any useful action. We wait in
vain for the arrest and charging of the royals and rogues who have been
inciting and suggesting an array of utterly illegal actions. How exactly does
one “fight for peace” or expect one’s employer to give away a portion of his
farm?
Everyone seems delighted with the new boss man
at Eskom. It’s a bit alarming though that among the first tasks he seems to
have tackled is his bonus. Most of his paying customers won’t feel so churlish
about it though if he immediately stops supplying power to everyone who doesn’t
pay for it. Meanwhile, no word from the “War Room” about their campaign plans to
ensure the country gets all the power it wants. Do you think it has a large map
table with cute young women pushing models of broken pylons around it with
billiard cues?
Even the normally quite sensible Finance
Minister Nene has revealed that he really does not understand that it is the
state’s policies which prevent the nation from developing ways to educate and
employ people. At a conference this week he claimed that “… taxes can help Africa grow”. The
evidence suggests exactly the opposite. Just about everyone has reduced their
forecasts of our growth rate this year and taxes have been increased. Go figure,
as they say.
What ever he says, few will believe that
Andrew Hudson’s decision not to seek re-election to the South African Cricket Board
selectors panel has nothing to do with the terrible political interference that
harmed our semi-final chances at the recent World Cup. With not a single day of
test cricket experience amongst the other selectors, the matter of Andrew’s
replacement will be keenly watched by those of us who want a Proteas side that
can bowl Australia
out twice in two days. It will be interesting to see if the new 16 team Africa
T20 Cup tournament to be held here in September will reveal any hidden talents
and attract enthusiastic crowds. Cricket in SA very badly needs both.
The only reason that Sharks supporters
are relaxed this weekend is because the team isn’t playing.
Next week is one of those 3-day working
weeks that we so enjoy here on the Southern tip. And given the near
impossibility of securing an appointment with anyone next week it seems that
those 3 days are also a write-off. Come to think of it, unless something really
stupid or wonderful happens, Tidemarks will probably not appear either.
James Greener
Friday 24th April 2015
