A good week
One update doesn’t a turnaround career make, but if Woolworths’ latest trading statement is anything to go by, newly installed CEO Roy Bagattini is flexing some muscle.
The decision to sell the glossy Elizabeth Street store in Sydney for R5.6bn will bring in some much needed cash to cut debt and while we’re evidently still not buying its clothing, boy are we going large in the food aisles. Year-to-date, Woolies stock is up 15%. Next stop may be R50 — still half its record highs — but not being Ian (pay me regardless) Moir, we’ll take it.
A bad week
Liar, liar, pants on fire. It’s tempting to revert to infantile singsong at the sight of Busisiwe Mkhwebane in court again, this time for perjury. No wonder the public protector is taking a two-month "sabbatical".
But don’t expect her to spend the time contemplating how she has failed her office, given her tweets about the "cruel system" (the law, madam?) of which she is evidently a perpetual victim. It’s welcome to see that something is finally being done about her blatant falsehoods. Mkhwebane’s exit cannot come soon enough.
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