It looks as though Harmony Gold is not leaving anything to chance - or, at least, not leaving an opportunity to stir up some media support for a closer look at Iscor's pricing policies.
Harmony's marketing director, Ferdi Dippenaar, has called a press conference to discuss the company's referral to the competition tribunal of Iscor's alleged abuse of dominance in the steel industry.
The competition commission decided not to refer Harmony's complaint to the tribunal. In terms of the legislation, Harmony can approach the tribunal directly.
The commission's decision appears to have been influenced by its investigation into import-parity pricing and the consequent finding that Iscor was not abusing its position.
It is apparently difficult to conclude an abuse charge on the basis of import-parity pricing - unless, perhaps, you use a different economist with a different model.
Harmony's team in this battle includes an economist who will presumably have a fundamentally different opinion to that of the commission, because no two economists ever seem to agree.
Indeed, it is likely that much of the information provided to the tribunal will reflect widely different economic viewpoints. It also seems likely that the department of trade and industry may have some disagreements with the commission's interpretation.
Iscor and steel pricing appear to be emotive issues, so it's inevitable that the investigation by competition authorities into the proposed takeover of Iscor by LNM will be followed very closely by the media.
Perhaps the authorities should look into claims by the Irish trade unions that LNM was responsible for hundreds of job losses and €30 million (R239 million) of environmental destruction after it took control of the Irish steel industry some years ago. AC
Medicine
Strange, the workings of this government of ours.
Sometimes it is difficult to find the logic between the different departments and arms of government just by reading the news.
For instance, on Monday the competition tribunal fined the Hospital Association of SA R4.5 million and the SA Medical Association R900 000, following an investigation of the healthcare sector by the competition commission.
Subsequently, the two organisations have agreed to cease to be engaged in the fixing of selling prices.
But then we read that Manto Tshabalala-Msimang, the health minister, has decided to reduce the prices of individual medicine products instead of imposing the blanket 50 percent price cut that was initially proposed.
The changes will affect pricing in both private and public healthcare. The aim is to scrap discounts and incentives given to pharmacies and other distributors and to pass the savings on to consumers.
However laudable this action is, the minister is effectively fixing medicine prices. Competition law, it seems, only applies to the private sector. EW
Tradehold
"Temporary setback" is how this investment holding company describes its £7.27 million (R87 million) net loss for the year to February.
However, if Tradehold's immediate history is anything to go by, "temporary" may mean any amount of time. It would be wiser for investors to wait until the situation improves at its UK operations before dipping a toe in.
On the face of it, the figure is a slight improvement on the £26.55 million loss of the corresponding period last year.
However, at the interim stage last year management said: "Tradehold is confident it will be able to report a profit for the 2004 financial year."
Losses had reduced "significantly" and the UK-asset Brown & Jackson (B&J) especially was "vigorously on its way to sustainable levels of growth and profitability".
Then, after the all-important Christmas trading period came the statement that "due to operational problems ... B&J could not capitalise fully on traditionally higher consumer spend during this period".
The problems related to the rejuvenation at B&J since new management took over in September 2002. There was talk of distribution problems.
However, distribution is key to successful retailing. How could management not spot a distribution problem before the all-important end-of-year trading season?
B&J announced a fully subscribed rights issue to raise $25 million (R167 million) for a store format roll-out, a new distribution centre and information technology.
However, the turnaround at B&J may take another year - as reflected by the share price, which was 5 percent lower at R2.45 yesterday. EW
Telkom
The Communication Workers' Union (CWU) seems destined for a perennial battle with communication giant Telkom over dwindling membership, shares, collective bargaining and now the company's intention to terminate the recognition agreement.
No wonder, then, that the union has come out smoking, calling the move a clear "union bashing strategy".
The latest battle comes out of the parties' failed attempts to meet to renegotiate the collective agreement.
Roy Sewnarain, Telkom's senior manager for employee relations, said that after several efforts to bring the CWU to the negotiation table, the company concluded that "the CWU is not serious and has no intentions to engage us meaningfully and constructively".
Mike Seroba, the CWU's deputy general secretary, said: "We will challenge this decision to terminate the recognition agreement and expose the intention of the company. We will take all steps ... including, but not limited to, legal action and protected strike."
The response of the union is understandable, considering that its membership has dwindled by the thousands in the past eight years at Telkom.
Falling numbers mean a weakened structure, and the company seems to have seen through the CWU.
It doesn't require a rocket scientist to see that Telkom management does not fear any threat from the union.
If it did, it would have halted its previous retrenchments, which have cut the workforce from 55 000 to fewer than 20 000. MP