Wednesday, November 11, 2009

Would you lend R385 billion to a liar?

SHOOT: AKA Eskom. See below.
clipped from

CLIVE SIMPKINS:   I would agree and to give the excuse - and again, it's Bobby Godsell - that he had to rush off to a meeting, as I understand it.  That's incomprehensible - in the financial markets in which I'm not literate, but you are extremely so, uncertainty is something that nobody likes.  In the world of communication, it is exactly the same.  I was reading today, that Moody's for example, the ratings agency, are watching this with great interest.  So if Eskom are looking at some incredible figure, is it R385billion that they're looking at for power stations over the next number of years...

ALEC HOGG: depends who you talk to but it certainly is in that ballpark...

CLIVE SIMPKINS:  A vast sum of money.  This is certainly not the way to instil confidence in potential investors because this right now, is running around like a headless chicken and it follows on the heels of similar indecisive poorly communicated things like Siyabonga Gama at Transnet, for example. 
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