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Blunders with Vestact's Paul Theron
It’s the close of the market week and a good time to round up this week's ridiculousness. From South African Airways (SAA) to cancer being an expensive disease to treat. This week’s Blunders by Vestact’s Paul Theron also touches on why car sales have gone down globally. He joins CNBC Africa for more.
Fri, 29 Nov 2019 15:42:16 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The precarious financial situation of South African Airways (SAA) and its implications for taxpayers and travelers
- The global decline in car sales attributed to the rise of ride-hailing services like Uber
- The significant financial burden faced by cancer patients due to the high costs of treatment and therapies
In the latest episode of Blunders with Vestact's Paul Theron, the focus was on the various mishaps and failures that occurred over the past week. The discussion ranged from the financial troubles of South African Airways (SAA) to the global decline in car sales and the financial burden of cancer treatment. These topics shed light on significant issues impacting both the economy and individuals worldwide.
The most prominent issue discussed was the precarious situation of South African Airways (SAA), the national carrier that has been plagued by massive losses over the years. Theron highlighted the missed payroll run by SAA, signaling further financial distress for the airline. With mounting debts totaling 59 billion rand over the past 23 years, SAA's future seems uncertain, prompting concerns among taxpayers and travelers alike. The potential closure of the airline could have far-reaching implications, leaving creditors in line for repayment and passengers scrambling to make alternative travel arrangements.
Another topic of discussion was the alarming trend of declining car sales globally, as illustrated by a chart shared by Theron. The chart revealed a consistent decrease in new car sales over the past 14 years, with various countries experiencing a downturn in the industry. Theron attributed this decline to the rise of ride-hailing services like Uber, suggesting that the convenience and cost-effectiveness of these services have diminished the need for personal vehicle ownership among younger generations.
The discussion also delved into the financial implications of cancer diagnosis and treatment, citing a recent study published in the American Journal of Medicine. The study highlighted the significant financial burden faced by cancer patients, with around 40% exhausting their savings within two years of diagnosis. This stark reality underscores the high cost of cancer drugs and therapies, which often result in patients facing insolvency or bankruptcy. While some advocate for a socialist healthcare system to address these issues, Theron emphasized the complexity of cancer treatment and the need for a balanced approach to managing healthcare costs.
Overall, the episode of Blunders with Vestact's Paul Theron provided valuable insights into the economic challenges and personal financial struggles that individuals and industries are currently facing. The discussions shed light on the need for proactive solutions to address issues such as airline mismanagement, shifting consumer preferences, and the escalating costs of healthcare.
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