It wasn't generating cashflows. So, they generate cash from theoperations, they take that...
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It wasn't generating cashflows. So, they generate cash from the
operations, they take that cash, spend it all in investments, whether to
replenish their existing infrastructure, or buy other businesses. The debts started building up. The board independence
was non-existent. So from outside it looked
like he could say this, and the board would
be, like, "Okay." I know it might not be the case,
but from outside that's how it felt
operations, they take that cash, spend it all in investments, whether to
replenish their existing infrastructure, or buy other businesses. The debts started building up. The board independence
was non-existent. So from outside it looked
like he could say this, and the board would
be, like, "Okay." I know it might not be the case,
but from outside that's how it felt
Full Transcript
00:00:01.000 --> 00:00:02.084
It wasn't generating cashflows.
00:00:02.841 --> 00:00:06.159
So, they generate cash from the
operations, they take that cash,
00:00:06.016 --> 00:00:11.318
spend it all in investments, whether to
replenish their existing infrastructure,
00:00:11.319 --> 00:00:12.999
or buy other businesses.
00:00:13.000 --> 00:00:15.159
The debts started building up.
00:00:15.016 --> 00:00:18.238
The board independence
was non-existent.
00:00:18.239 --> 00:00:21.959
So from outside it looked
like he could say this,
00:00:21.096 --> 00:00:24.024
and the board would
be, like, "Okay."
00:00:24.241 --> 00:00:27.838
I know it might not be the case,
but from outside that's how it felt.
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Movie Summary
The biggest corporate scandal in South African history, the fall of Steinhoff led to a loss of R200 billion. Steinheist untangles the story: the investors who were taken in; the victims and the CEO, Markus Jooste, who's still a fr...
