No time for tears
Edcon CEO Grant Pattison reportedly broke down in tears this week on a conference call to suppliers. "We only have sufficient liquidity to pay salaries... which we deem a priority during these uncertain times."
economy
Boris's Bravado
Day 1 of lockdown in South Africa greeted with UK Prime Minister Boris Johnson's announcement today that he had tested positive for SARS-CoV-2, the virus that causes Covid-19.
The news was greeted with mirth and derision by the usual suspects. They pointed to BoJo's previous bravado about shaking hands with infected patients. Slurs such as "covidiot" were abundant.
The real value of Boomers
The United States is braced for the single biggest transfer of wealth in history.
"Boomers" make up about 45 million households, worth about US $68,4 trillion, according to Cerulli Associates. an asset management research group. As they die over the next 25 years, their heirs will receive most of this, and those heirs are mostly millennials.
The question is, what will those heirs do with the money?
My budget takeaways
Finance Minister Tito Mboweni delivered his 2020 budget speech yesterday. Brief highlights for me:
