Investec is being sued by the SA Equity Workers Association for R4bn in a claim against the handling of investors' pension money! The allegation is, that Fedsure (now known as Investec Employees Benefit fund) placed their money together with shareholders' money in a general fund which was then used to invest in financial services companies. Whether their fight is a valid one ... who knows. We have not been told anything, or given any information other than what we have read in the papers! As if there is not enough drama in the financial world. The local market has been battered and nervousness about the health of the US economy is not helping matters at all. On top of all this, the political situation in SA is so unstable with rumours flying that all in the ANC is not rosy!
INTERNATIONAL business news! Zimbabwe Financial plans backfire! Sarkozy denies Europe bailout! UK house prices fall over 12 %! Spanish unemployment rate hits 11 year high! US Senate approves bailout! EISH!
In spite of all the Doom and Gloom ... life is good! We have our health, we have our family and friends and we have sunshine!! Not going to lie, we could do with some rain - its as dry as a bone out there, but life is good!
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