Govt gives go-ahead for SABC bailout

Oh well another billion of taxpayers money that will be squandered on fatter salaries for the play play businessmen in suits, new cars for same and of course nice big performance bounuses

I'm sorry, but this is ludicrously unacceptable. You mismanage an entrenched state enterprise with years and years of history, and then when you run out of money I, the tax payer, have to foot the bill. Complete and utter nonsense. AND there's a load of hogwash on TV...

How comforting to know that the tax I pay is being used to good effect ! Next up South African Airways. When will it end ?

Another 3 million homes..that could have been built...washed down the drain..due to ANC Nepotism, Corruption and Incompetence !! And still the massess...flock to give the ANC their vote of confidence ! Mind blowing...WHEN WILL THEY LEARN !!

Yet they can't afford drugs for HIV patients ...

Roll on ANC .... freedom!!!

Dave, that's the good news, it doesn't. Is it just me or is there a deathly silence from our pale liberals and our more sun drenched brethren about this latest revelation ??????? I suspect the little pigs at the trough are absolutley ecstatic at how easy it is to get the trough filled on demand. I was going to say, is there no shame, but remembered that there can be no further debasement when the only part of your body that is sticking out of the treasuries ass is the ANC's feet.

Dont you know what ANC stands for? Arrogance, Nepotism and Corruption

When the SABC was run by stodgy old white Nats, they made handy profits and never needed any handouts.

This is like a bad re-run of the NeverEnding Story, but instead of a big white dog/dragon, we have a massive white elephant....

Jeez the ANC sucks.....they couldnt organise a piss up in a brewery.

@Apocalyse Now

You should bear in mind that in the last year all western countries did the same to a much greater extent with the investment banks, to the tune of billions. EU and USA joe soaps will be paying for a fews greed for generations, and all by less sun drenched brethren. Which banks are now paying massive bonuses. I am not trying to justify, but lets keep it in perspective that most of the world is badly run by greedy shits who care only for themselves. I dont think any country at the moment has much to be proud about.

To the point though, will the SABC board of the last few years be forced to pay back any lucrative bonuses? Probably not. Disgusting.

fair point chris - but the banks provide a massive revenue stream for the EU & US. its in their interest to keep them going. even banks paying massive bonuses - 40-50% of those bonuses go straight to the govt in taxes..(if cash bonus) if shares/options - govt will still get its share in the long run.
very big difference to bailing out a worthless SABC?

Ans so the story goes.........SABC.....SABC, shame our govt a laughing stock.

"A national asset that should be guarded with jealously by those in charge" When will these poor sods learn that you cannot manage with rhetoric, you need the qualifications and experience to do so. Ah well, just another sad example of the good BEE and AA does to the country, including the poor idiots that voted for the government

Chris, you are absolutley spot on. I have no argument with that. Ian's reply will essentially cover mine, along with the fact that I more concerned with the SA situation. This does not however mean that I don't think what is currently happenning (Globally) will not have a severe outcome for me and all or most people on the planet. I am convinced that the nefarious goings on of the international "elite" is about to come to no good.I have a very firm opinion of bankers and politicians, none good. I am convinced that they have absolutley no interest in telling the truth, or in fact doing anything that will ultimately render a positive outcome for the man in the street. They are ALL lying sons of bitches and HO's.

Why is it so difficult or near impossible to trace the lost or stolen money?

Unbelievable!!!!

Africa the laughing stock of the world – always accusing others for their ills – then taking tax-payers money for their incompetence-– but never NEVER have any solutions!!!

I am really ashamed to be called an African!!!

The SABC is a national embarrasment. If I watch the English or Afrikaans news and see somebody reading it who has a worse accent than I do in these languages I have to wonder if it was not possible to find a Afrikaans or English person to read the news for a afrikaans or english audience. It is obvious that nepotism, cronism and blind affirmative action is being employed and this is the reason for this mess. Get the best person for the job and the job gets done or scrap the SABC. Most people who actually pay their tv license just watch dstv anyway.

Nyanda said,"The SABC is a national asset that needs to be guarded with jealousy by those put in charge of looking after it on behalf of all South Africans."


I say ,"It is a national millstone, South African have become used to looking after ourselves, we have no choice, rather look after the homless, education, health care, then the goverment can waiste money on thier own propoganda egos"

Makes me sick to think of all that hard earned tax money going down the drain, how do they sleep at night?

One hungry child is crime.

@Apocalypse and Ian. Fair enough, jeez consensus of opinion on this forum. WTF? hahaha

Yah I see your point Ian about banks creating revenue stream, but for who? Not your average taxpayer, most of whom cant even get mortgages even though that was apparently the premise on which the banks were bailed out.

The lack of accountability is sickening. There should be an act for government official here where like shareholders they owe a fiduciary duty to taxpayers, even with possible criminal saction. Chucking a few of these bastards in jail and forfeiting their assets would be a suitable wake up call for some.

Yoh! It's such a pity that a world class institution has been reduced to this. Wabenzi looted that place. There's nothing worth watching on the box. And all those TV content provider companies that went under while waiting for their payments.. iesh. They should just turn the whole place into a hotel and tell the nation to watch pirate DVDs or DSTV if the got the cash.

Sell SABC to DSTV for R1.4bn - rid us from Muvango, Generations, Rythm City, Jam Alley and other awful local productions.

Within two years DSTV will post a positive bank balance and a steady income revenue stream.

"Cost-cutting measures and a turnaround strategy implemented by the interim board in the past four-and-a-half months had saved the corporation about R65-million." What exactly are these cost-cutting measures and how does the board propose to begin turning a profit by 2012? And those management reports can be made public, too, just so that the taxpayers can be sure that government is actually making sure that the money is spent correctly. Government allowed this to happen and now we pay billions for a service that offers no value at all. And this in a country where many people don't have access to clean, piped water and sanitation, and thousands of children under the age of five die of malnutrition and diarrhoea. The ANC must really be worried about the upcoming municipal elections.