A dead horse
ALTHOUGH IT’S six months too late, Leani Wessels has hit the nail on the head. We as minority shareholders have already written off our investments in the dead horse. It was always a pleasure for me to do business with Alert Steel’s marketing personnel, but again it was just a case of a fish rotting from the head down.
Another lesson for investors: Don’t judge your investment only from your buying experience. Most burgeoning entrepreneurs have a fault line and that is they can’t see and therefore cross the transition between a oneman business and a professional one. As the report spells out quite clearly, the collapse is largely due to mismanagement, especially on the financial side. What a tragedy for investors and employees, who will now have to pay the price for bad management. as 19 October and was never cleared up. What’s the purpose of the JSE if cut-off dates aren’t set for managements? It’s through delays such as this that we lose money.
Everyone is concerned about Sharemax – with good reason. But this and similar cases are the individual instances that destroy everything. Now it seems as if the possible transaction referred to in the cautionary has been abandoned. Then it will be downhill all the way, because the vultures are already sitting and waiting.