Exits Were Shut By The Management When The Fire Started?
It has not been lost on this blogger that the management of Nakumatt have behaved very strangely indeed over the tragedy that saw over 40 people lose their lives in a grisly fire at their Nakumatt downtown branch.
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Kumekucha titbits: Did you know that corporate team building programmes have been known to turn around previously loss-making companies the world over?
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They have been on the defensive right from the start when in fact sympathy at the huge loss should be flowing in their direction, insurance claims not withstanding.
For starters, even as the fire was going on the supermarket management rushed a statement to the press saying that all staff and customers had been evacuated safely and insisting that there were no casualties.
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Kumekucha titbits: This is a new feature offering our readers useful titbits of information on every subject under the sun. Did you know that a whooping 60% of companies that lose their data close down within 6 months of the disaster? And that re-creating data from scratch is estimated to cost between $2,000 and $8,000 per MB? Did you also know that we have pretty competent world class data recovery experts in Kenya?
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Now eye-witnesses insist that the huge steel shutters were shut moments after the fire started. The reason was that the management wanted to stop customers leaving without paying for their purchases and also to prevent looting. Clearly they underestimated the intensity of the fire (by late yesterday thick smoke was still bellowing from the ruins of where the supermarket once stood). Moments later when it became clear that the fire was serious, the doors were jammed and could not open. If this is what really happened then it was a rather tragic error in judgement.
Interestingly news reports on how survivors escaped seem to support this claim since many jumped from the floor above when there was really no fire around the doors when the inferno started. Suggesting that that particular escape route may have been blocked.
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Kumekucha titbits: Staying in Nairobi? Well the traffic jams have gotten totally out of hand these days. So if you are catching an early morning flight the hotel you choose could be critical. For instance if you are using the Wilson airport to Masai Mara or elsewhere then The Olive Garden Hotel Nairobi in Hurligham is a good idea to avoid the City centre traffic completely.
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16:47
KQ has very profitable 3Q 2008-9
» Rants, Raves & Reviews KQ's 9-month 2008-9 PBT was +7% vs PY... BUT the real story is that...
KQ made 2x in 3Q (Kes 3.035bn PBT) compared to entire 1H (Kes 1.05 PBT)...
Due to the post-election violence, KQ's pax numbers were very low in 1Q (Apr-Jun 2008). The 2Q (May-Sep 2008) was merely catch-up but the after-effects still lingered.
Then came 3Q with (much) lower oil prices as well as the strong US$... but since KQ prices most tix in US$, the overall effect has been a surge in Kes profits...
KQ faces challenges in 4Q coz of the GFC but the most profitable business remains the African business... they should continue expanding in Africa even if it the destinations make losses at first... KQ should start agrressively targetting S. African markets & beat up SAA while they are down!
Oil prices should be lower than 2008 though we have seen jet fuel shortages in Kenya coz of the thieves at KPC.
BOTTOMLINE: I expect EPS of 7.50 for 2008-9. By my estimates the NAV is over 62/- So its trading at P/B of 0.4 and forward PER of 3.5... this is a steal!
And there is the Obama business... perhaps time expedite the expansion of the Kisumu airport... Obama is a-coming at some point!
Prior posts on KQ or related subjects...
[coldtusker.blogspot.com]
[coldtusker.blogspot.com]
[coldtusker.blogspot.com]
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16:38
Murderers not militants
» Black Looks The men who killed the eleven year old girl and took her eight year old brother prisoner in Port Harcourt are not militants and having nothing to do with the struggle against environmental and human rights abuses by multiantionals and the Nigerian government. They are murderers and kidnappers of children SHARETHIS.addEntry({ title: "Murderers not militants", url: "http://www.blacklooks.org/2009/01/murderers_not_militants.html" });
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13:37
Open Letter To Kofi Annan
» You Missed This 
Hi Kofi,
First of all, I would like to ask for your forgiveness. I think we Kenyans have mastered the art of disturbing you in your retirement slumber much too often. But kindly sir, please realize that the following weeks are crucial to our survival as a nation of integrity; however little of which we have left. You see, we have reached the crossroads my friend. Turning left will lead us to an inconsequential special tribunal. Turning right takes us to the continuation of dilapidating impunity meted upon us by our politicians. We cannot dare turn backwards because that’s the path to sure hell. It’s clear our only redeemable option is moving forward i.e. directly to The Hague….at breakneck speed.
Now, your travels are vast and your life experiences supersede many, however, I’m sorry to say, you haven’t seen nothing yet until you have traded your space with a local mwanaichi. Only then will you understand what it means to get it in the place where the sun don’t shine. You see my friend, we are being held in bondage by a cadre of politicians armed with the power to raid our tax payer funded exchequer for the sole purpose of their own self preservation. The plight of the common man has never featured in the political agendas of these mosquitoes masquerading as MPs. I tell you buddy, if all our politicians died today and went to their designated chambers in hell, Lucifer himself will be filing for bankruptcy within a few days. Indeed, there will be an economic crisis in the underworld.
Kofi, Kenyans are tired and possibly defeated. We are immensely convinced that the vector towards Kenya’s prosperity is not pointing at Parliament Buildings; especially if it continues to house MPs who are magnificently deficient in everything that makes a good human being…..let alone the radiance of decency, integrity and legitimacy emanating from State House.
But let me update you on what they are trying to force feed us this time around. Let me give you a synopsis of the beast. Have you ever seen a congregation of drunken hyenas marching towards the lions den? Well my friend, that spectacle begins with the proposed special tribunal to try post-election violence suspects. Unfortunately for Kenyans, the lions in this case, are perpetually sky high on marijuana. Yes Kofi, it will be an all night political dance. The whole exercise is an opportunity to reward their friends with plum contracts as they boogey away the blood of the innocent lives lost in consequence of our embarrassing elections. It will be a pompous fraternity party holding court at the executive boardroom of the Laico Regency Hotel. While we have not been invited, we have seen this dance before. As we speak, there’s a stranger in the cabinet.
But you Kofi, yes you, can help us…. unless of course the Waki envelope contained a thick wad of notes of varied denominations. I think you understand where I’m going with this. Although you may have had a few hiccups here and there in your public service career, we know you as a man of impeccable propriety and decorum. It is in that consideration that we ask you to take the next available flight to the Netherlands. Please do this in solidarity with the people of Kenya.
Now we know too well that your delivery of that envelope to The Hague will not solve all our problems; but it will be the beginning to the end of impunity. After all, we are dealing with a flock of scavenging vultures who will continue stealing and causing mayhem even with a noose around their necks. Talk about the condemned to die stealing the hangman's rope. I’m sure they have sent emissaries to beg for extensions; but we ask that you refuse to listen. They will ask you what the point is in airing Kenya’s dirty linen in public for the world to see. To that I ask, what do you do when your little son messes the bed linens? Must you not put them out to dry? In Kenya, we have been housed in a dingy hut with no windows…and a lot of dirty linen. It is time for fresh air.
Kenya’s destiny must no longer be charted by a class of conmen with the least regard of our wellbeing.
Please pass my regards to your family.
Frustrated Kenyans.
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10:48
CNN At Work
» tHiNkEr'S rOoM 
Raul further said that contrary to popular belief, he was not, had never been and did not plan to be Zorro.
© M for tHiNkEr'S rOoM, 2009. | Permalink | 10 comments | Add to del.icio.us
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8:53
I lost my friend in the Nakumatt fire
» Kenya Imagine Yesterday was an exhausting day. Our directors were visiting from Dubai so we had one meeting after the next. With all the reports that we had to make I did not have time to go out to lunch. Finally, I found some reprieve late that afternoon, left the office and walked towards Nakumatt Supermarket. Imagine my delight when I ran into an old friend Vicky. We met in primary school where we became fast friends, but had since lost touch because she had moved to China. Her sister, who lived in Langata, was sick so she had come to visit.
Read more from Rachel's blog.
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8:00
Another Fun Week Come To An End.........
» My part of the world....... Anyone who knows me is well aware that I do not tolerate chic flicks. So I am not going to watch "He's Not That Into You" but even so, the viral video that was made for it was somewhat hilarious
Okay as I move on, let me issue this disclaimer: We are all beautiful! Now that I have that off my chest. I find it funny how the world both loves and hates beautiful people. Many beautiful people always complain about how they cannot find real friends or how everyone dislikes them. Beauty can be a great asset but can also be a great weakness. It can be argued where nature doesn't give you brains, it gives you beauty; but that's a whole other discussion.
So how can beauty be a weakness? Well beauty can get someone almost everything and everywhere. But that there is where the weakness lies, without even knowing it, this asset slowly but surely erodes someones' character. This is not to say that there are no beautiful people with character but why do people act in shock whenever they meet a beautiful person who has great character? One compliment given to beautiful women behind their backs is that they have an ugly girl's personality, this of course means that they are accommodative, outgoing and interesting (of course we all know some bitter, recluse and selfish ugly people but that's another post). One thing I have noticed is that beautiful people are rarely ever challenged intellectually by other people, I have been in a setting where this hot girl once said something that was so ludicrous that it would have most people rolling on the ground in laughter but instead the dudes listening to her were listening to her and nodding their heads like they were in the company of Socrates. This is of course how we end up with blondes and meatheads. It's similar to how beautiful people are often rubbish in bed, this is because they will always have people wanting to sleep with them just so they can claim to have done it.
On a serious note, I do have a close friend whose sister is having a nervous breakdown, why? The sister has very good looks and has used them to get what she wants in life. But she is getting older now and her looks are fading, so she is having a mid life crisis of sorts. Her looks define her and now as they are leaving, she doesn't know who she is.
This is not to say that there are not beautiful people out there who have character, indeed there are; they may not be a majority but they exist. Evolution and character development is interesting like that. Also why is it that the chic who is always loudly proclaiming that you can have both brains and looks doesn't have much of both? (cue women hating accusations here)
I have a problem I need help with, I have Tabiosis. This is a disorder characterized by the use of myriad tabs while using any given internet browser, the user may also resort to using multiple browsers on one machine to indulge the urge to view as many websites on the internet as possible. This progresses to not turning off their computer so as to leave tabs open for later viewing. Should anyone of any treatment available I would be most appreciative.
Before you do something questionable, please visit this page.
Anyway I'm off for the weekend. I'll be crying while laughing as I watch tv and some movies this weekend (see video above for reference). Adios!
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Sprinkling confetti all over my head
» Black Looks I’m on my knees before the cross, and this is me, my last pirouette to the world, the close of it: my curtain-dropping whirl. I’m the secret to death at the altar and dying, I tell you, is an art. You’re going to be seeing me now, dead boy, for sure, my head a waxen screamer of joy. I’m not here to [...]SHARETHIS.addEntry({ title: "Sprinkling confetti all over my head", url: "http://www.blacklooks.org/2009/01/sprinkling_confetti_all_over_my_head.html" });
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