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Thread: BBBEE wrong

  1. #1
    Diamond Member wynn's Avatar
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    BBBEE wrong

    Solidarity says what we have been saying all along! :- see http://business.iafrica.com/news/847953.html

    "Black economic empowerment (BEE) is to the detriment of all South Africans, including blacks, trade union Solidarity said on Wednesday.

    It was for this reason recommending that the Broad-Based Black Economic Empowerment Amendment Bill of 2012 be withdrawn, it said in a statement.

    The union made the proposal during a presentation to Parliament's portfolio committee on trade and industry on Wednesday.

    Solidarity research institute senior economic researcher Piet le Roux said the bill's purpose was to enable the government to enforce current BEE legislation more stringently.

    "The amendment bill will result in all South Africans being disadvantaged, including those who are supposed to benefit from BEE.

    "The bill will lead to even more resources being made available to relatively less competent entrepreneurs -- black, coloured, Indian and white -- those entrepreneurs who would not make the grade without government assistance."

    This meant fewer consumer goods would be available to all South Africans. The cost of the project would fall on ordinary consumers, who would have to pay more for basic goods.

    Le Roux said it was important to remember it was not just "less competent" black entrepreneurs who benefit from artificial investment, but also whites.

    "White entrepreneurs who would not have made it in the market, but who somehow managed to get a black, coloured or Indian BEE partner, are being kept in business at the expense of consumers," he said.

    Not all emerging entrepreneurs depended on government assistance, but BEE enabled weaker entrepreneurs to do business in an artificial and unsustainable way.

    "Consumers in the market reveal the most effective entrepreneurs through their spending patterns. The most effective entrepreneurs are those who are able to offer consumers the greatest flow of goods and services in the cheapest way," said Le Roux.

    Investors took note of spending patterns and, based on these, allocated resources to entrepreneurs. BEE replaced this consumer-driven allocation with a politically-driven process.

    When there was political interference, resources tended to flow to less effective entrepreneurs.
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    Diamond Member Justloadit's Avatar
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    You think the government really cares what the Solidarity Trade Union says?
    They have simply dismissed the public outcry with respect to e-Tolls, why would they budge what is filling their pockets right now.
    It's like saying "No, I do not want any more free eggs from the Golden goose".
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    Diamond Member Blurock's Avatar
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    Organisations such as NAFCOC and the Black Business Forum agrees that BEE is wrong. What they want in stead is not 51% black ownership, they want 100%. It is not because they are racist, they just like black. Competence and ability does not play a role at all.
    Excellence is not a skill; its an attitude...

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    Site Caretaker Dave A's Avatar
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    The fact that Solidarity wants BBBEE scrapped entirely, and the BBF wants to have 100% ownership as the supreme criterium should not surprise anyone. I can't think of a single area where these two organisations share common ground.

    Quote Originally Posted by wynn View Post
    Not all emerging entrepreneurs depended on government assistance, but BEE enabled weaker entrepreneurs to do business in an artificial and unsustainable way.
    They're bang on the money there, and at first blush it might seem their strongest point made. The problem is the point fails as long as BBBEE is viewed as a temporary intervention.

    At this point I don't know which is going to end up being the bigger problem in the long run, the economic handicap SA places on itself keeping BBBEE going, or the problem gov is going to face when it runs out of moral ground to justify the continuation of BBBEE policies.

    I guess the question I'd like answered is - if it is temporary (however long that might be), what is the exit strategy?

    It might seem a crazy question to require an answer right now, but when you start with the end in mind - the answer will probably be a better indicator of what government should be doing at this point than what the various "vested interest" groupings are throwing at them.
    The trouble with opportunity is it normally comes dressed up as work.

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    Market Ticker posted this article a few days ago.
    http://market-ticker.org/akcs-www?post=226617

    that one linked to this one
    http://market-ticker.org/akcs-www?post=226605

    Btw I don't think any intervention the gov't proposes is ever temporary. It has to blow up in their face really badly for it to be retracted.

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    I'm all for BBBEE, Broad Based "British" Economic Empowerment
    Apparently there is nothing that cannot happen today.

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    Diamond Member Blurock's Avatar
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    Quote Originally Posted by Slow Blow View Post
    I'm all for BBBEE, Broad Based "British" Economic Empowerment
    Slow Blow has it all wrong. We are no longer a British colony. It should be Broad Based Boss Economic Empowerment.
    The Boss can not pay you if he has no money, dumbass.



    PS. Dumbass in this case are the ones wanting to implement BBBEE; Government and the unions.
    Excellence is not a skill; its an attitude...

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    KristiKat (06-Mar-14)

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    Platinum Member pmbguy's Avatar
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    I think that all non blacks must paint themselves black Or all blacks paint themselves white. Then we can end our Racist laws!
    It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. Charles Darwin

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    Diamond Member Blurock's Avatar
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    Quote Originally Posted by pmbguy View Post
    I think that all non blacks must paint themselves black Or all blacks paint themselves white. Then we can end our Racist laws!
    So what did you expect from a racist government?
    Excellence is not a skill; its an attitude...

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    KristiKat (06-Mar-14)

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    Platinum Member pmbguy's Avatar
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    South Africa is currently a racist state, where your race determines how government treats you. It has become normal that racist laws and racism against white people is somehow seen as OK. We simply changed one set of racist laws into another. Regime change was never about equality, it was about power. They don’t want to be our equals they want to be our masters.
    It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. Charles Darwin

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