Is Steinhoff and therefore horse racing in trouble?

Flash Harry Wrote:

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> now i find the other article and i begin to think
> maybe this business day has the problem with
> markus jooste?
>
> www.bdlive.co.za/business/retail/2013/02/24
> /steinhoff-boss-fingered-in-resignation-of-jd-grou
> p-ceo


"This article was first published in Sunday Times: Business Times" I'm not sure if BD and Sunday Times are from the same stable of Newspapers. I hear what you are saying Flash it is of concern as one man has too much say in this industry

The first article posted by Flash is based on maths,not opinion.........unless the facts are wrong,there must be concern.
I don't share the view that this would kill racing ..........a hiccup maybe,but look at the upside ............plenty positives in the longer term IMO.

If there is financial problems and they have to ''cut back'' could this not have repercussion on the Summer Cup sponsorship??

This will be good and bad for racing LOL

greg where do you come from re? 8000 MILLION is not accounted for it wont be the cut back it will be the liquidation in total

That kind of debt could bring down a good few of their suppliers too.............they must be a little nervous,to say the least!

I am sure they will get over it. If it was very bad it would affect their share price which is still quite stable. The Jooste's and Steinhoff have a huge reputation of being a very good company with an excellent business model. They could raise that sort of money through share options etc.

Flash Harry Wrote:

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> greg where do you come from re? 8000 MILLION is
> not accounted for it wont be the cut back it will
> be the liquidation in total


Sansui brand falls under JD Group and Steinhoff is the major shareholder...

rob faux Wrote:

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> That kind of debt could bring down a good few of
> their suppliers too.............they must be a
> little nervous,to say the least!


The group is made up of manufacturing, shipping etc. so possibly the raw material suppliers and shipping / logistics companies... but it is mostly an end to end operation... and they have a 'boetie' outside the racing industry who will bale if needed.... no problemo long term. I hold some of their shares.

The Madji Wrote:

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> rob faux Wrote:
>

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>

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> > That kind of debt could bring down a good few
> of
> > their suppliers too.............they must be a
> > little nervous,to say the least!
>
>
> The group is made up of manufacturing, shipping
> etc. so possibly the raw material suppliers and
> shipping / logistics companies... but it is mostly
> an end to end operation... and they have a
> 'boetie' outside the racing industry who will bale
> if needed.... no problemo long term. I hold some
> of their shares.

So as a GROUP each debit would be countered by a credit and balance out.............but they don't !!!!!!

I can tell you that I would get rid of any share when the debt ratio reached anywhere near that level.

starts with a p and ends with an i (and a few years with KYgel)

easy Wrote:

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> starts with a p and ends with an i (and a few
> years with KYgel)


Pepperoni or Picalilli..............lol