In the Press: Monitor, when a story deserves more than just a massage

He has a right to criticize, who has a heart to help.

Abraham Lincoln 

The Auditor General’s report makes for good reading, as always considering it punches holes in government business.

The story on Page 4 of today's Daily Monitor is damning on a company called Phenix Logistics, one of the exporters and producers of garments in Uganda – local content – of which the government owns 94 percent.

The story, in the headline, reads "Money spent on Phenix a waste of state resources, AG tells govt."  

Quote from the AG’s report: “The government has continued to inject funds in a loss making company, with the latest being the guarantee of a loan from JBIC amounting to Shs4.2billion….” So does the AG here say the government is wasting money? The problem is that Phenix Logistics is loss making.

The Daily Monitor goes on and reads “…which also wonders [The AG’s report wonders?] why govt keeps increasing its shareholding in the firm yet it has never received any dividend..” But it is already loss making. How do you receive a dividend if you’re loss making?

“However, in the same year [2000], the firm borrowed Shs4.2billion from Uganda Development Bank, which it later failed to pay.” So Ugandans would want to know why Phenix Logistics borrowed this money. What was it for?

Interestingly, the Monitor story further explains that each time Phenix failed to pay a debt, it was converted into equity – not exactly a bad thing though – from 0 to 49percent then to 79percent and more recently to 94percent.

So what did all the money borrowed do? What is the production capacity? What are the challenges – if any – or inefficiencies going on at Phenix? How cheap are their products on the local market compared to the imported garments? How much has the plant benefited from AGOA? How many people does it employ? What is the export value of the products? Has it paid taxes? Is production subsidized? The private sector failed to make it profitable,  the government is failing. What exactly is the problem at Phenix Logistics? We have several private sector businesses that are not yet profitable – Orange, Airtel, Warid, UTL – but still their owners keep pumping money into them, in order to prop up performance, and maybe they’ll be profitable – or not. Such is the nature of business.

The newscast “Back Story”

I love watching the news.
Visual effects are lovely.
They speak to me.
I must admit.
The reason for watching the news could be getting information on current affairs.
Well I guess there is another angle to these news casts.
Have you ever thought of the news anchors?
They can make the story attractive.

Get a hot anchor and I will watch.
Not because the stories are interesting.
But maybe,just maybe I would watch.
Content matters but that hot and smart anchor could be
the difference.
Ahem..... I love the news.
Bravo NTV for Karungi and Rosemary , NBS the lady called Biira...
ooops... Try CNN.... Some anchor called McEdwards
then there is Aisha Shasey, ummmmmm Zain Verge...

21st Century American Revolution

Many revolutions have backbönes. In the days when we studied european history we had the 1789 french revn. But be4 that we had the american revon. The americans revolted against the british.

Here is the latest revolution against anytìn' that looks british. Cricket hahaha i hve neva heard the usa play cricket but they have their own verson and its called baseball. And hey they have catches but they have saves.The thought of having an America (i mean usa) in the rugby world cup is asking a dog to eat grass.

The blend of rugby is referred to as American football.(that is so unique). If i may ask do they have tries in the NFL?The third resistance was the refusal to accept a boring sleeptaking netball game and made it look great and breathtaking and ladies and gentlemen the game of basketball. Do they dunk in netball? Neva seen that. Maybe we should wait.Now the best part is the fact that there was BBC and guess what the warner bros came up.. CNN.

What about the fact America has a president unlike other british colonies like the aussies, canada etc which hve the queen as the h.o.state and the pm runs govt business.Check this out the greatest movie awards r held in the USA. (ask the actors and theyll tell u."an oscar is all i need"). The funny thing is there r many british actors gettin' awards. Look at the musicians ooh my does Craig David still live in britain. Thank God for the Patriotic Dido. I'll continue later but one musician said this."WE AMERICAN PEOPLE ARE FREEDOM LOVING AND WE ARE RICH BEYOND CÖMPARE". am yet to find out. Next page....pending

The latest entrant......guess who Obama........ He has swept across the world that the whole world is looking at him. He has become part of the revolution.......the 21st century one... without even holding a gun.....