By Alec Hogg
Capital is cowardly and its custodians usually act discreetly. Not so Invicta’s CEO Arnold Goldstone whose insights yesterday on a continued slide in SA’s manufacturing were matched by his forthright opinions.
In a nutshell, Goldstone says Invicta has extremely low union representation at its business units. That hasn’t made a jot of difference during the current manufacturing sector strike. The NUMSA trade union has sent armed mobs to close Invicta’s un-unionised factories, intimidate and in some cases attack Invicta employees, and ruthlessly damage the company’s buildings and vehicles.
Goldstone says when the SA Police Services are called to address this lawlessness, their response time is so slow they may as well not bother. The logical response, he adds, is for management to take Invicta’s shareholders’ funds into more rational geographies.The once 100% SA firm now aims to generate half its profits offshore. As soon as possible.
Trade & Industry Minister Rob Davies keeps talking up SA manufacturing as the cornerstone of the similarly vaunted National Development Plan. Talk counts for nothing without action. But that requires courage. Something in short supply among SA’s political leaders right now.
Yesterday’s top stories:
UPDATED: Tim Noakes – making a ‘Real Meal’ of critics who say his diet is dangerous
UNDICTATED: Dream Big in business – it’s the only way.
Matthew Lester: Agric land switched to game farming coming back to bite SA
US equities: bull market about to end? Chart tells story
Analysing the Numsa strike with SACCI’s Pietman Roos
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