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shaka
996 Posts |
 Posted - 15 Jul 2008 : 02:33:58
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According to the Daily Observerhttp://observer.gm/africa/gambia/banjul/article/2008/7/14/steel-magnate-meets-the-president the right-hand man of one of the most successful international rogue hustlers is currently in Banjul doing yet another hush-hush deal with Dr Jammeh. Wanted in his native India for non-payment of staff salaries and chased out of Bulgaria and Nigeria, Banjul is his next target. "This week, the Nigerian government cancelled Global Steel’s contract to run Ajaokuta Steel Co. Ltd and National Iron Ore Mining Co. Ltd, accusing its subsidiary company Global Infrastructure Holdings Ltd of “asset stripping” and pledging its assets against a $192 million (Rs768 crore) bank loan borrowal." according to the World Street Journal.
Look how this vulture was quick to react to Dr Jammeh's announcement that he discovered iron ore in the Gambia. "Another dumb dictator to manipulate and rip-off" Mr Mittal must have been jubilating to himself. Worth a staggering $32 billion this ****** was just about to rip-off the Nigerians by pledging the assets of two Nigerian Companies against a $192 million bank loan. How greedy can a person be? If he had succeed Lakshmi Mittal could have been earning hundreds of millions of dollars from this deal and never invested a penny of his money into those ventures. In the event the business goes bust he would simply pack and go back to London leaving the burden of this huge loan on poor Nigerian taxpayers. I must say am really proud of the Nigerian authorities for busting this scam.
http://www.livemint.com/2008/04/05004133/Global-Steel-says-Pramod-Mitta.html
As i mention earlier in the wake of the Gamtel/Spectrum deal, these ******s don't invest f@ck all with their own money but would borrow money pledged against the assets of the governments they deal with and dissapear when trouble beckons, leaving huge debt burdens to these gullible governments. Their first priorities is profits for their own pockets,then loan payments and whatever crumbs leftover(if there is any at all)goes to the government. There is enough trouble signalling out of Gamtel already for concerned Gambians to start diggig where Spectrum got its money from. Looks like another f@ckedup deal has already been arranged between Dr Jammeh and Mittal Steel, with bribes/sweeteners already exchanging hands.
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Edited by - shaka on 15 Jul 2008 02:39:34 |
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toubab1020
12314 Posts |
Posted - 15 Jul 2008 : 11:59:51
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Just financial goings on then,no mineral wealth at all ?.
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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shaka
996 Posts |
Posted - 15 Jul 2008 : 18:33:06
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Can you be more specific, i don't get it.quote:
Originally posted by toubab1020
Just financial goings on then,no mineral wealth at all ?.
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toubab1020
12314 Posts |
Posted - 15 Jul 2008 : 19:19:27
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OK, mineral sands, iron ore deposits,oil,where is all this valuable stuff,I suspect that it does not exist in sufficient quantities to make it worthwile exploiting,(there may be traces) |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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Edited by - toubab1020 on 15 Jul 2008 19:21:29 |
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shaka
996 Posts |
Posted - 15 Jul 2008 : 19:57:54
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That is a very good point Toubab1020, like i mentioned in an earlier posting the consequences of minining insignificant amount of minerals in a small nation like Gambia might be too dire.Evironmental damage and the natural disasters it invites like erosion are some of the burdens to be inherited by generations to come as a result of poor decision making by a greedy dictator. We have had tens of thousand metric tonnes of minerals already exported out of the country for $50/metric tonnes or less. The little money yielded from such disastrous deals will not benifit the nation even in the most shortest term while hundreds of acres of farm land would have been denied poor farmers. Yet we have the stupid dictator calling for "going back to the land". What land are they going back to?quote:
Originally posted by toubab1020
OK, mineral sands, iron ore deposits,oil,where is all this valuable stuff,I suspect that it does not exist in sufficient quantities to make it worthwile exploiting,(there may be traces)
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kaanibaa
United Kingdom
1169 Posts |
Posted - 15 Jul 2008 : 20:19:02
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| Good question Shaka. ! Keep it up Zulu warrior ; keep scaring the emperor till he runs into hiding.True words and valid comments about burning issues my brother. |
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shaka
996 Posts |
Posted - 15 Jul 2008 : 23:19:36
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| Thanks bro!! I don't know what it takes to scare the Emperor certainly not my useless rants. Remember the great doctor thinks that every critism of him can only come from "jealous midgets" and "illegitimate sons of Africa". I am just a toothless warrior unfortunately. The man is even taking on the West with all their millitary might and all. |
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kaanibaa
United Kingdom
1169 Posts |
Posted - 17 Jul 2008 : 10:05:55
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| Do you remember what the old boys used to call .....OPEN CALL.... ? The man na coward na bluff eday bluff, just send a noisy petard down marina parade and see him go hide behind his guards, Idi Amin style! I bet he knows that the west do not care about his rants so he gets a go drunken or sober. |
Edited by - kaanibaa on 17 Jul 2008 10:06:39 |
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shaka
996 Posts |
Posted - 18 Jul 2008 : 17:58:08
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You know you are funny. I unfortunately don't have an army to hide behind so "a noisy petard" down Marina Parade i will have to think twice. Unless ofcourse i can borrow some "loose demons" from you and other Bantaba folks. I wonder what Kaaniba's demons look like. Even then i will have to rely on my super fast feet just in case some demons develop jelly legs before we even reach Arch 22.quote:
Originally posted by kaanibaa
Do you remember what the old boys used to call .....OPEN CALL.... ? The man na coward na bluff eday bluff, just send a noisy petard down marina parade and see him go hide behind his guards, Idi Amin style! I bet he knows that the west do not care about his rants so he gets a go drunken or sober.
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Prince
507 Posts |
Posted - 29 Jul 2008 : 08:44:22
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Mittal is an amazing business man. He spoke at our school and i found his business insight phenomenal. I'm adding his name to Abramovich and Sir Richard Branson's, my favorite non-American entrepreneurs.
Its a shame that u guys are giving Mittal the image of a villain. |
"When injustice becomes law, rebellion becomes duty." |
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toubab1020
12314 Posts |
Posted - 29 Jul 2008 : 12:57:55
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quote:
Originally posted by Prince
Mittal is an amazing business man. He spoke at our school and i found his business insight phenomenal. I'm adding his name to Abramovich and Sir Richard Branson's, my favorite non-American entrepreneurs.
Its a shame that u guys are giving Mittal the image of a villain.
Now then,what if Mittal is not investigating Gambia about iron what if he has another reason as you say Prince that you "found his business insight phenomenal" what are his reasons ?
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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kaanibaa
United Kingdom
1169 Posts |
Posted - 29 Jul 2008 : 13:56:01
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Shaka
The petard I mentioned was for you to throw one just along Marina Parade, please pretend to be passing by , because soon enough you will see the big rat scampering out of that hole of a palace to try taking cover at the guards headquarters or the army headquarters.Did you see Idi Amin Daada the buffoon of Uganda, in the film Entebbe when the Israeli Army attacked, this one would be a better scenario my dear friend. |
Edited by - kaanibaa on 29 Jul 2008 13:57:39 |
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MADIBA
United Kingdom
1275 Posts |
Posted - 29 Jul 2008 : 14:07:31
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quote:
Originally posted by Prince
Mittal is an amazing business man. He spoke at our school and i found his business insight phenomenal. I'm adding his name to Abramovich and Sir Richard Branson's, my favorite non-American entrepreneurs.
Its a shame that u guys are giving Mittal the image of a villain.
Prince could you pls give us more insights about this man. I just read abt him in passing and remember seeing news flashes on Tv .
With more insights one could make informed judgements.
However no-matter how good his intentions are the Gambian people MUST NOT lose. |
madiss |
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shaka
996 Posts |
Posted - 29 Jul 2008 : 18:19:47
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If you had such nose for phenomenal business insight then you would have perhaps directed your grievance at the world street journal, the number one business journal in the world and not concerned Gambians. Those who had a nose for phenominal political insight will also tell you that Hitler was a political genius, for it was this same man who changed Germany from a near bankrupt economy at the height of the great depression into one the greatest economic and military machine in the world and a fine speaker he was too. Yet still those same pundits were wary of his darker side. Given that you are furnished information about the dark side of Mittal Steel by the world's most renouned business journal where the world's top business experts speak their mind and the only thing you worry about is the celebrity status of Lashkmi Mittal then am sorry to say that you are going the same path as those who fall for Nazi propaganda.
Let me put this in a simple context. If you bought a piece of land in a strategic business location in the Gambia and build a nice house in it with your hard earned cash. Then a few years later a successful Gambian businessman worth a couple of billion dalasis approaches you with a business proposal to build and open a restaurant on your land for an estimated D100,000. The offer on the table is that you pledge your house and land for a D100,000 loan from Standard Chartered Bank at 20% APR. The profit share for this venture he argues will be 10% for you and 90% for him because he got the entrepreneurial skills and the business contacts. How would you consider such a business proposal Prince? This was similar proposal Mittal Steel had on the table for the two Nigerian mining company before they were told to f@?k off. Now concerned Gambians are worried that if this is how this company does business it could probably trap our gullible leader into a similar deal and all you Prince are worried about is the personality status of this rogue hustler billionaire owner of Mittal Steel. What about Mittal Steel's history of non payment of staff salaries, its terrible record in environmental pollution, its poor health and safety issues in regard to staff clothing and eqiupement and terrible work place conditions that cost scores of people their lives around the world.quote:
Originally posted by Prince
Mittal is an amazing business man. He spoke at our school and i found his business insight phenomenal. I'm adding his name to Abramovich and Sir Richard Branson's, my favorite non-American entrepreneurs.
Its a shame that u guys are giving Mittal the image of a villain.
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Prince
507 Posts |
Posted - 30 Jul 2008 : 09:41:46
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easy Shaka, Mittal doesn't force rogue leaders to accept his deals. It would be feeble minded of him to heavily invest in a place lead by grand crooks like Yaradua or Obasanjo.
He did the right thing by not putting his money where his mouth won't be. If they don't want his deal, too bad as it's a mutual lost.
Mittal lives and invests in the West were he pays taxes and probably obeys the laws. Its not his duty to straighten out messed up countries like Nigeria, where contracts are not honored.
Nigeria could have gained from his expertise; he would have made their steel industry more productive.
The labor conditions you mentioned reflect the overall suituation in some parts of the world. Industrial accidents are part of industrialization. All isolated cases shouldn't be blamed on Mittal. Governments should take care of their people and enact sound labor laws. If Mittal faults such laws he should be sued and...
If the Gambian government wants to do business with Mittal: cool. He is a very efficient and insightful fellow.
I'm not "personality" worshiping him, he has shortcomings as every human being, both in business and socially, but comparing him to Hitler is a mere exaggeration.
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"When injustice becomes law, rebellion becomes duty." |
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Prince
507 Posts |
Posted - 30 Jul 2008 : 09:45:44
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quote:
Prince could you pls give us more insights about this man. I just read abt him in passing and remember seeing news flashes on Tv .
With more insights one could make informed judgements.
However no-matter how good his intentions are the Gambian people MUST NOT lose.
Madiba, Mittal isn't Jesus or Muhammed, his intentions aren't "good.", his intention is to do business within the Gambian legal framework. And people hardly loose from trade. Only the people who claim to be custodians of the Gambia should be blamed for any loss.
Toubab: I don't know what he wants in Gambia, but i'm sure the benevolent dictator has something he fancies |
"When injustice becomes law, rebellion becomes duty." |
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