Banks and took away a column Banks had been writing, prompting Banks to tell a friend at the Chicago Defender that Grizzard was a racist. With that, the editorial employees union intervened, a federal arbitrator ruled for Banks and 13 months later, he got his job back. The articles received considerable publicity and acclaim, but a nomination for the Pulitzer Prize met resistance from some who believed the Mirage series represented a form of entrapment. In Marchthe venerable afternoon publication the Chicago Daily Newssister paper of the Sun-Times, went out of business.
Works and transport minister Alpheus! Naruseb is still of the opinion that the Roads Contractor Company can be revived and has called for its board to be supported as it attempts a turnaround.
Naruseb's comments were in stark contrast to issues raised by public enterprises minister Leon Jooste, who announced last week that the RCC may be placed under judicial management, a development that might make its board and executive management team powerless while a manager appointed by the High Court attends to the RCC's affairs.
Naruseb yesterday said if the RCC's business plan was implemented, it would be back on its feet within three years.
According to him, the board would be faced with various challenges and would have to make tough decisions during this significant period. Jooste announced that a cabinet committee had resolved to place the RCC under judicial management.
Parliament will debate the proposal, and if it is accepted, an application will be lodged with the High Court to place the RCC under judicial management. Judicial management is a temporary court-supervised rescue plan. Its objective is to give viable companies which are in financial trouble a more even chance to rehabilitate and be restored to profitability.
Jooste had previously said judicial management was the best option for the RCC. During that time, the shareholder the government and the board will have no power over the parastatal. He said the current and former boards had been part of the entire process.
At the end of the process the judicial manager will recommend whether the company should be wound up or whether there is a chance to salvage it.
In the end the shareholder will have to decide the fate of the company.Know what's going on in your world. Follow Gainesville Sun for stories, video & columns covering world, breaking & local news in Gainesville FL. Not sure what newspaper advertising costs?
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