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Wednesday, December 07, 2005

 

Down the drain?


I cannot vouch for the accuracy of these figures but they were reported as being in the region of, or are guesstimates.

I'm just curious as to how much money SARU pours down the drain. When you start totalling up the figures it is a massive amount.

1. +/- R1m fine to the IRB.

2. +/- R3m to Accenture for a company wide audit, which looks like it was promptly ignored.

3. +/- R5m to pay out Oberholzer, Nayo and Straeuli.

4. Who knows how much to pay out all the rest who have left since Van Rooyen became President?

5. Who knows how much to pay for all the legal costs since Van Rooyen has become President, considering the amount of legal opinion that has had to be engaged, this must total a massive amount.

6. Who knows how much to pay for all the internal inquiries, investigations, disciplinaries and audits?

7. Who knows how much to pay for that abortive process to choose a new S14 franchise? An exercise in farce from the start considering the immediate challenges to the decision. The entire process was a waste of time and money and the union presidents could have thrashed it all out in one meeting considering that's what they ended up doing anyway.

8. Who knows how much to pay for all these meetings held by the Manco and/or President's Council? They are only meant to meet about 4 times a year, they've apparently already met about 13 times this year - incurring accomodation, transport, food and reimbursement costs.

9. Who knows how much to hire Oberholzer as a consultant for the world cup bid, a process in which we were knocked out in the first round with a measly 4 votes.


10. Who knows how much in compensation payments, like the PA who got +/- R200k?

I've never heard of a sports body that leaks money like SARU, their only saving grace at the top is that the Springboks are a sought after commodity. However, that doesn't help the small unions when SARU wastes money hand over fist instead of disbursing it to the likes of Griquas or the SWD, in order to help them survive.

As far as I'm concerned the board members of SARU should be ashamed of themselves. Their performance is risible.


As I say, we don't know the real figures because SARU don't communicate with the public. As awards go for corporate communication, SARU would be the last in line to win it.
Comments:
Ras

I also can not confirm the figures, but looking at "standard" fees I don't think you are far off.

Fact is Van Rooyen is costing us a moer of a lot of money. You could sponsor a couple of the smaller unions with all that money!!!
 
It seems the only reason Brian van Rooyen is there is to line his own pockets. Either through his own pockets or his company's. Remember the offices in Johannesburg.

It seems to be a habit in South Africa to hold meetings just to say that they held a meeting. I can't tell you in how many meetings I have been where people argue with each other for hours on end just to realise that they actually agree.

Worst of all then the rest of the workforce are blamed for the lack of productivity. The same with the coach or the players.

Seems BvR has spoken to too many Americans in his life. This meeting thing is their bloody brainchild.

Most corporates ten years ago only held four meetings a year, but all of a sudden that doesn't seem enough. People must get away from this idea that to attend a meeting is to be important and successfull. The only way to be successful is to roll up your sleeves and start working. No gravy trainers.

There too many people suffering from belangrikdheids sindroom in this country and by the looks of things rugby has been dealt quite a few over the last ten years.

Look at coaches for instance. Kitch Christie kept to himself and look what he brought us. Cn we really say the same about the rest.
 
If you want the answeer to why all the bullshit happened in SA Rugby over the last year just read this, Especially the second paragraph. How can you be successful if you need to keep your eyes on two balls at the same time.

Rugby or Labat? SARU's Van Rooyen still to pick
Ana Monteiro
Posted: Wed, 30 Nov 2005 08:00 | © Moneyweb Holdings Limited, 1997-2005


South African Rugby Union (SARU) president and JSE-listed Labat Africa chairman Brian van Rooyen says he still has to choose between business or rugby.

Speaking on Moneyweb Radio on Monday, he said: “I have seen what happens if you take your eye off the ball, and I have been keeping tabs on what has been happening within the SARU.

“But I have focused on Labat. I have an obligation not only towards myself – a big shareholder within the company – but also other people who have entrusted their funds and their money in Labat, through me.”

Labat Africa was suspended from trade on July 4 for not submitting its numbers for the year to end-February on time. The delay was caused by a necessary restatement of figures for 2004 in terms of generally accepted accounting principles (GAAP).

When the company eventually did release its figure at the end of August, it reported a headline loss of 18,1c a share for the year to end-February 2005, and a restated loss of 7,4c in 2004.

This was due to the losses reported by South African Micro-Electronic Systems (Sames), which manufactures microchips.

Figures released on Monday, however, tell the story of a different company.

In the six months to end-August, the company reported an operating profit of R34,2m, compared with R5,5m at the same time last year. This despite lower revenues of R83m (2004: R97m).

Net profit was R14,4m (for mid-2004, there was a loss of R5,8m). This translated into headline earnings of 1,7c a share, compared with a loss of 5,9c last year.

Cash flows were up from R9m to nearly R17m. The company reduced its debt R64,9m to R5,7m, which Van Rooyen says was settled on November 2. It also sold its non-profitable businesses, Acme Stores (for R10m) and Africard (for R13,3m).

Van Rooyen says Labat has focused on restructuring Sames, which is now “back on track and almost at break-even and projecting profits for 2007”. Sames won a five-year, €22m revenue contract from a Finnish company, with funding coming from the department of trade and industry’s industrial participation project.

Van Rooyen says Sames will be manufacturing smaller microchips. (The width on a microchip is measured in microns, which are a thousandth of a millimetre. Sames will be going down to 0.8 microns, says Van Rooyen.)

“We are already implementing [the Finnish company’s technology], and we will be in full production, starting in January. The prototype has all been approved. So from January, February, we will be in full production with our new products for export into Finland.”

Of Labat Traffic Solutions, Van Rooyen’s commentary to the results noted: “It continues to record excellent year-on-year growth in revenue and profit... The business now has proven technology and a business model that is expected to deliver enhanced earnings as a result of the implementation of new contracts. Negotiations are at an advanced stage with various municipalities who have seen the benefits of Labat Traffic's superior technology and business model.

Regarding the fact that he provided sureties in his personal capacity, Van Rooyen said: “I started Labat ten years ago, and things haven’t been going well the last year or two. But it was worthwhile, every single penny that I have put in there and signed surety for. And I will make sure that now is the time to extract shareholder value out of our two key operations, Labat Traffic Solutions and Sames.

Sasfin’s David Shapiro said of the numbers: “Brian did warn us [about the improvement]. I think the last time we spoke, he said Labat had this offset obligation and that it would do well and the company is focused. But I didn’t think the turnaround would be quite this fast.”

Yesterday afternoon, Labat shares were 11,8% up to 19c each.
 
IMO Van Rooyen admitted in this interview that he does not have th capacity to run SA Rugby. If it is the lack of time capacity or mental capacity or both I don't know. Just remember these words, I don't know who first said it, but it was something along these lines: If you want to make yourslef look good, surround yourslef with fools. Looks like Van Rooyen and Jake followed this principle.  
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