Boardroom Talk: HSF shoots its Bain arrow at a DOJ bullseye that most others appear to have missed

LATEST ON BIZNEWS RADIO: How Chris Pappas turned uMngeni around. (For Spotify, click here).When South Africa's future historians reflect on the past couple of decades, they are sure to applaud NGOs like OUTA, the IRR, Forensics for Justice and others. Sure to be right up there on their honour roll will be the Helen Suzman Foundation. A fearless, focused champion of SA's democracy, it is now shooting at a target others appear to have missed..___STEADY_PAYWALL___.In a quite brilliant three page letter last week (click here), HSF's new director Nicole Fritz nudges the US Department of Justice to simply do its job and investigate Boston-based Bain & Co. Fritz lays out the evidence so clearly that in terms of the US Anti-Corruption Strategy and other laws, America's enforcers have no option but to re-open the case..Bain's defence, which the DOJ appears to have believed, is based on an investigation it commissioned from law firm Baker McKenzie. But, Fritz writes, that report was never submitted to public scrutiny. And whatever it said appears to directly contradict "two separate judicial commissions, chaired by eminent SA judges.".In simple terms, Bain bought its way into a pool of plunderers by paying several hundred thousand dollars to Ambrolite, "a shadowy intermediary", whose sole service was providing access to Zuma. Between 2012 and 2014, Ambrolite facilitated 17 meetings between Bain SA's bossman and the then president. From there, State contracts flowed (and still do). An open and shut case. The ball is now in the court of Biden's DOJ. Nice one, Nicole..More for you to read today: .Cadre deployment is Cyril's Rubicon. Theuns Eloff says if the President does not cross it all his efforts at reform will come to nought.Meta and Google Are Cutting Staff. Just Don't Mention Layoffs. Facebook parent is looking to reduce costs by at least 10%, people familiar with the plans said, while Google has required some employees to apply for new jobs. Luxury Brands' Record Year Was More Luck Than Skill. A surge in global household wealth explains why designer labels had such an exceptional 2021, and why a repeat isn't likely.Putin Orders Draft of Reservists for War in Ukraine, Threatens Nuclear Response. The Russian president's move sought to bolster his faltering military, while China urged the Kremlin to de-escalate. .Short video: Piet Viljoen's methods and principles to manage your money in under two minutes.NB FOR YOUR WALL STREET JOURNAL ACCESS….As a Premium subscriber you are entitled to full membership of wsj.com (normal price $29 a month). Be sure to action your access through the Premium link on the BizNews website. Because of The Wall Street Journal's credential requirements, be sure to create a password which has at least 8 characters and includes at least one letter and one number – NB it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website via Biznews Premium at least once a month. A final PS, if you had previously signed up for WSJ you'll need to clear the cookies from your device. Our helpdesk can assist –support@biznews.com.

Boardroom Talk: HSF shoots its Bain arrow at a DOJ bullseye that most others appear to have missed

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