Date: Tue, 17 Mar 2009 10:26:10 +0300 [02:26:10 AM CDT]
From: David Kilonzi
Subject: Re: We Have to rescue or bail out our companies now

Why rescue companies that go down because of thievery of their owners. Is Standard Assurance the only insurance in Kenya!? WHy rescue it? What calamity has befallen Kenyan for its collapse.

We should not ape what others are doing. Our banks are making billions. So what has befallen the western world and their called sophistication has exposed their economy to be not as sophisticated as they claimed!!

We shall survive without Discount Securities et al. But criminal charges should be preferred to the thieves in these organizations.

On 17/03/2009, amenya gibson wrote:

Hello people
I have looked at Obama rescue stimulus package not being good for we third world countries Obama is introducing protectionism of American Industries.
Making the dollar start to appreciate again wooie brace for New Dollarisation regime again from Yuanization-China currency

So I feel that the time has come now for Kenyans to begin serious and soul searching on rescuing our companies .

They are falling at very alarming rate and some are falling in statutory management read Discount Securities, Standard Assurance Pan Paper etc

For those who know what I mean you will understand the multiple ripple effect of a company going under,there is a whole chain of investors too getting ropped in,suppliers will lose where to sell their products,customers will losewhere to buy their goods and services,government will lose on taxes and this will hinder its development programs just like now where there is no money for Free Education

There is need we re-look at how our companies operate,there is need to review corporate governance.

Am not advocating for salary reductions but time has come we look at how we pay bonuses and allowances to company executives

We have created a dysfunctional financial system that hasonly in long term created the widening gap between the poor and rich.

I may suggest a broad based taxation will enable this country spread wealth, so that the social upheaval that we are currently witnessing will not go up so fast as we are witnessing now

Capital management in this country need serious relook.

Hon Uhuru must as a matter of urgency study the rules on capital flight controls

I rest my case Yps

Thanks
Gibson Amenya