Come on Dave,
You are making us nervous ! Give some more hints. The quicker we know the better as it might affect some of us.
Come on Dave,
You are making us nervous ! Give some more hints. The quicker we know the better as it might affect some of us.
Martin Coetzee
Supplier of Stainless Steel Band and Buckle and various fastening systems. Steel, Plastic, Galvanized, PET and Poly woven.
We solve your fastening problems.
www.straptite.com
You may never know what results will come from your actions, but if you do nothing, there will be no results... Rudy Malan † 05/03/2011
Dave, now I see Sandton City has a fire link
I am sure it is out by now! Will this delay payment more for you?
Last edited by IanF; 12-May-11 at 03:21 PM. Reason: link added
Only stress when you can change the outcome!
So far it's me and the company of an acquaintance - barely hard evidence confirming a major problem. And there's no evidence of a problem in the public financial reports. So I regret nameless it will have to stay for now.
Rest assured if I get more conclusive evidence I'll be sure to share the info.
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Martin Coetzee
Supplier of Stainless Steel Band and Buckle and various fastening systems. Steel, Plastic, Galvanized, PET and Poly woven.
We solve your fastening problems.
www.straptite.com
You may never know what results will come from your actions, but if you do nothing, there will be no results... Rudy Malan † 05/03/2011
i'm more anxious to know what PRIZE is offered to the first person getting it right?
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Alcocks Electrical Services | Alcocks Pest Control & Entomological Services | Alcocks Hygiene Services
I know of that Old Mutual was in the news not too long ago.
I did link the story but for some strange reason when you click on it, it doesn’t display it thus I quoted it here.By Devon Maylie
Of DOW JONES NEWSWIRES
JOHANNESBURG (Dow Jones)--Old Mutual PLC (OML.LN), a global insurer with a strong focus on South Africa, said Thursday that it is making good progress in reducing group costs, but that it posted a drop in sales and had net client cash outflows in the first quarter driven by outflows in the U.S.
Funds under management were up 1% from the end of 2010 to GBP303.1 billion. At a group level, Old Mutual net client cash outflows totaled GBP2.6 billion, driven by net outflows of GBP3.7 billion ($6 billion) at US Asset Management.
Old Mutual said the outflows at USAM were mainly from short-term products, primarily stable value funds, and U.S. equity products. The short-term products offered investors a fixed return and, as markets rose, investors exited the products to find better returns elsewhere, the insurer said.
It said inflows of GBP7.7 billion into long-term fixed-income and non-U.S. equity strategies weren't enough to offset the outflows.
Annual premium equivalent sales, a figure used by insurers, fell 4% to GBP369 million in the first quarter due to lower sales in Italy. Sales in Italy were particularly strong in 2010 due to tax incentives, Old Mutual said, adding without taking Italy into account group sales rose 2%.
Old Mutual noted its exposure to euro-zone peripheral sovereign nations is less than GBP5 million.
Oriel Securities Ltd. analyst Marcus Barnard said the results were "pretty uninspiring...that will do little to get the shares moving." At 0735 GMT, the shares were down 3.6 pence, or 2.7%, at 131.7 pence in a lower London market.
Old Mutual concluded the sale of its U.S. life insurance assets in the first quarter. The group sold US Life to Harbinger Capital Partners LLC for $350 million.
"We announced the completion of the sale of US Life on 7 April 2011. This represents another significant step in simplifying the Group and results in a substantial improvement to our risk profile," said Julian Roberts, group chief executive.
Old Mutual Group head Roberts said the insurer remains on track to meet its target to reduce costs by GBP100 million by the end of 2012, but he declined to give details on how it would achieve that figure. He also declined to comment on plans for Old Mutual's Nedbank stake.
In October, HSBC Holdings PLC (HBC) ended discussions to buy a stake in South Africa's Nedbank Group. Old Mutual is the majority owner of Nedbank with a 51.5% stake.
peace is a state of mind
Disclaimer: everything written by me can be considered as fictional.
Dave A (12-May-11)
The article has also been published in the Wall Street Journal, I see. Well, that's good enough for me.
Well done Tec0 - a home run.
Last edited by Dave A; 12-May-11 at 10:58 PM.
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Investors should indeed be careful where and how they invest. The rating agencies can no longer be relied upon to give accurate information. Indeed a minefield!
Investment advisors are also to be selected with care. A relative has been dealing with a "very reliable guy" for over 20 years. He has recently invested a substantial sum in a property consortium which went bang within 6 months. This after explicit instructions not to invest in any long term or high risk investments as the lady is 84 years old.
Martin Coetzee
Supplier of Stainless Steel Band and Buckle and various fastening systems. Steel, Plastic, Galvanized, PET and Poly woven.
We solve your fastening problems.
www.straptite.com
You may never know what results will come from your actions, but if you do nothing, there will be no results... Rudy Malan † 05/03/2011
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