After reading that Jim Rogers is a consultant on Iqbal Survé's new venture, I've lost all respect for him. Business Day ripped them to pieces and I quote the introduction here...
The full extent of the destruction at Independent Media since the Public Investment Corporation (PIC) placed the company at the disposal of Iqbal Survé has been laid bare — ironically through Survé’s outrageous attempt to use other people’s money to plug the R2.3bn hole in his media balance sheet.
On March 28, a company 73% owned by Survé’s family trust issued a remarkable "prelisting statement" inviting selected investors to subscribe for a "private placement" of shares ahead of a planned JSE listing. The company is Sagarmatha Technologies, a grandiose reference to the Nepali name for Mount Everest, and the statement represents a desperate bid to portray it as a hi-tech start-up in the mould of an African Google or Amazon.read the details here...
