Sporting Post - very poor journalism

naresh
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Re: Sporting Post - very poor journalism

7 years 6 months ago

Over the Air wrote: I had to have a wry chuckle at the SP justification for censoring comments, something about their high standards. The person administering these standards is apparently a convicted fraudster. You couldn't dream this shit up :lol:

Whose the administrator ?

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Over the Air
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Re: Sporting Post - very poor journalism

7 years 6 months ago - 7 years 6 months ago

#703647

naresh wrote:

Over the Air wrote: I had to have a wry chuckle at the SP justification for censoring comments, something about their high standards. The person administering these standards is apparently a convicted fraudster. You couldn't dream this shit up :lol:

Whose the administrator ?

.

Last edit: 7 years 6 months ago by Bob Brogan.

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Bob Brogan
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Re: Sporting Post - very poor journalism

7 years 6 months ago

#703651

Hard job “approving “ every comment!

In doing so the post vindicates that comment imo?

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naresh
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Re: Sporting Post - very poor journalism

7 years 6 months ago

#703656

Bob Brogan wrote: Hard job “approving “ every comment!

In doing so the post vindicates that comment imo?

Bob, if he is truly the administrator, then you can't deny he is a fraudster. It's like saying the holocaust never happened. Anyway off to read my magazine!!!!

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Lionel
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Re: Sporting Post - very poor journalism

7 years 6 months ago

#703659

I wonder if the financial results would have been signed off if the Germans did not raise a red flag

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Mac
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Re: Sporting Post - very poor journalism

7 years 6 months ago

#703683

Farawaysaint wrote: As I understand the situation regarding Steinhoff,the Auditing company-Deloitte-were not prepared to get the green pen out and sign off the Financial results.Because of this and the fact that the unsigned figures were being forwarded,there was an immediate loss of confidence in the Steinhoff shares.
With the huge sell off, the shares have crashed.
The CEO resigned and now Christo Wiese has instituted an enquiry,to be undertaken by PWC to reveal the true financial situation.
As I understand,from what we have been informed ,that is the current situation.
Am I missing something.

Yip, I think that is a nutshell we all have. Alec Hogg says there was a standoff between the board and Jooste and when the board took the side of the auditors Jooste resigned. Wiese then hired PWC to see if they concur with Deloittes. Apparently there is lots of debt hidden in off-balance-sheet assets. My q is "is there really significant debt to bury the company?"

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Over the Air
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Re: Sporting Post - very poor journalism

7 years 6 months ago

#703688

Mac do you believe that the Steinhoff board were unaware of the situation before this stand off occurred? Do you believe that a man of Wiese's business acumen cannot read a set of accounts and would blindly do deals where he was paid in the main with Steinhoff shares? That board is full of Chartered accountants, and capable ones at that. Whilst I am no admirer of Jooste, I cannot believe for one second that he is solely to blame for all of this and has been made the fall guy.

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Mac
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Re: Sporting Post - very poor journalism

7 years 6 months ago

#703689

Over the Air wrote: Mac do you believe that the Steinhoff board were unaware of the situation before this stand off occurred? Do you believe that a man of Wiese's business acumen cannot read a set of accounts and would blindly do deals where he was paid in the main with Steinhoff shares? That board is full of Chartered accountants, and capable ones at that. Whilst I am no admirer of Jooste, I cannot believe for one second that he is solely to blame for all of this and has been made the fall guy.

I do agree with OTA but I bet you that this PPA also knew.

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BATMAN
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Re: Sporting Post - very poor journalism

7 years 6 months ago

#703701

Over the Air wrote: Mac do you believe that the Steinhoff board were unaware of the situation before this stand off occurred? Do you believe that a man of Wiese's business acumen cannot read a set of accounts and would blindly do deals where he was paid in the main with Steinhoff shares? That board is full of Chartered accountants, and capable ones at that. Whilst I am no admirer of Jooste, I cannot believe for one second that he is solely to blame for all of this and has been made the fall guy.

There must be many at the top of the board that must have known.A lot more must surely come out but Jooste has taken the first fall. and i wonder who else must have been in on it.I do agree that Wiese who is in a league of his own with business skills and ethics surely could have worked out what was going on.Surely whoever had to put pen to paper would have known that wrong doings is happening and would have been leaked out.Im sure much more will come out and probably we will be in for more shocks.End result is disgusting and jail for the guilty no matter who they are is a must.

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