Seychelles staff gathering: the facts - Andrew Golding

An unedited letter from Dr Andrew Golding to Realestateweb's Tabloid Tuesday reporters, published here in terms of our policy to give all parties a full right of reply:

PGP RECOGNISES TOP PERFORMING AGENTS

 It is regrettable that Pam Golding Properties was not given the opportunity to advise the facts before this article was published. The group's 2008 conference, which was held in May 2008, was planned, booked and confirmed six months prior to the event taking place, namely towards the end of 2007 ie prior to the downward property cycle having commenced. The copy of the in-house publication, GoldTalk, which is referred to, was published in August 2008.

The conference is an annual event which serves to meet several important objectives: it is an incentive and reward for the top achieving GoldClub agents who play a key role in selling property on behalf of clients - in this instance for the previous financial year ended February 2008; and it is an important platform for imparting information to equip and enable those attending the conference to carry out their roles even more effectively. In addition, the celebration of team spirit, passion and joie de vivre is integral to the culture of the company and one of the cornerstones of its success to date. As a matter of interest, each and every delegate attending the conference made a significant contribution to the costs of the event in their individual capacities.

The group reiterates its ongoing commitment to investing in and rewarding its top-performing agents who play such an important role in the success of the company and the clients whom it represents.

Dr Andrew Golding

Chief Executive, Pam Golding Property group

* Background to this letter: Click here to read Pam Golding parties hard amid property pain.

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Comments

 

responses to this article

Good on you Andrew Why should Andrew Golding even be put in this position where he has to justify the actions of his company in recognising and rewarding his top performers? Well done to PGP for taking time out of a tough year to congratulate those that . .more contributed to any successes. Its important to keep staff motivated and to recognise their achievements. I dont know what Gold CLub means at PGP, but in 2008 if you achieved any award, its well desereved. And yes it is regrettable how this website claims to be a real estate website and then constantly knocks the people who serve it. Party on PGP! . .less by PGP Competitor on January 28 2009, 08:35 Find this comment inappropriate? Report it

Agreed What PGP and its agents do with their money is their business. by Brennan on January 28 2009, 09:19 Find this comment inappropriate? Report it

Not true, PGP Competitor - and an invitation to you all We certainly do not "constantly knock" estate agents. Pam Golding Properties gets a generous share of media releases published in our company announcements' sections as do many other estate agency groups. And, we make an effort to profile those agents who . .more come highly recommended (see the agent rating section). What you probably don't like is that we do not only project the rosy side of this business - unlike others in the property media. However, we are reviewing some of our sections. We have taken note that many of our readers do indeed like the Tabloid Tuesday column and some have complained that we publish estate agency statements. Please feel free to email me at jackie@realestateweb.co.za and tell me what you'd like more - and less of - in future. All suggestions will be seriously considered. . .less by Jackie Cameron, editor on January 28 2009, 09:22 Find this comment inappropriate? Report it

Jackie Dear Jackie, Get the facts straight before you publish articles, otherwise your credibility goes down the tubes! Put that in your pipe and smoke it! by J on January 28 2009, 09:36 Find this comment inappropriate? Report it

"always watching" PGP, I trust that all tax consequences of the trip have been properly dealt with. That the expenses incurred in the trip, both by PGP, and the contributors have not been deducated for tax purposes as the nexus between the costs incurred and the . .more production of the income is doubtful ... also it appears that there was more revalry than work, so the participants should probably have incurred some fringe benefit taxes. . .less by SARS on January 28 2009, 10:00 Find this comment inappropriate? Report it

Great response I think this is a great response to a poorly researched and badly written article. The Tabloid feature seems to be out to completely misrepresent the facts by presenting a completely opinionated, one-sided, poorly-researched view of the . .more facts. I am not saying only present the rosy side, but at least present all the facts in an unbiased way. For one thing, the tabloid article certainly stir up emotions, but it's an emotional response because we know that you are only representing half the story and that can create a lot of damage to the image and reputations of the companies that you decide to "attack". Please continue with the tabloid Tuesday column, however, present unbiased views and give companies the opportunity to respond, rather than just going out there and writing whatever you FEEL like. The tabloid article certainly seemed like the writer simply had one fact and decided to present and write an article around that. Really - we're not looking for the "rosy" side only, but leave out the personal opinions and straight-forward slandering. It's unnecessary. . .less by Sam on January 28 2009, 10:40 Find this comment inappropriate? Report it

SARS Dear SARS, You are obviously a disgruntled, jealous and struggling competitor OR a victim of your own failure. The eloquent way you write masks your stupidity when you, just like Jackie did, make presumptions without having the . .more facts. Have a joint with Jackie . .less by J on January 28 2009, 10:49 Find this comment inappropriate? Report it

fiddling while Rome burns The facts were clearly not wrong as they were taken directly from PGP's own magazine. I have the magazine and the pictures are there for all to see. The point seems to me to be that just as PGP are laying off staff and closing down offices, so the company . .more brass, their PR agents and hangers-on - together with a few deserving agents, that's true - are partying the days away in tropical paradise. So what if the trip was booked six months before? The cycle has turned, estate agents are hurting and a bunch of boozing, profligate party animals staggering around in Paradise is a disgusting afront to anyone in this business. . .less by West Coast on January 28 2009, 10:52 Find this comment inappropriate? Report it

To SARS Does that not apply to most corporate conferences? How many corporate conferences are held at places that have golf courses, game drives etc, where some work may be done, but golf etc is essential. Why do JHB based companies need to have conferences in . .more Cape Town, George, Mauritius - i know of many very good confrence venues in JHB. SARS should take a very close look at all corporate conferences, especially tehfood and entertainmnt bills. . .less by Fred on January 28 2009, 11:10 Find this comment inappropriate? Report it

PGP must be in trouble if they have to respond to this kind of stuff. Losing a few million a month Andrew? Where is this years conference? by Agent on January 28 2009, 11:15 Find this comment inappropriate? Report it

Never let the facts get in the way of a sensationalistic (non) story... Surely journalists can do better - seems like they too are a lazy bunch. by GungetsTuft on January 28 2009, 11:50 Find this comment inappropriate? Report it

Question Looking at the comments it seems Tabloid Tuesday caused some sensation once again. Isn't it suppose to? by dvdm on January 28 2009, 11:57 Find this comment inappropriate? Report it

LOSERS UNITE That article was a disgrace. The world has become such a handicap zone, which why we are facing the problems we are. If you are weak you get helped. I'm glad those losers lost their jobs (OBVIOUSLY ONE WAS A FRIEND OF YOURS JACKIE). They were lazy and . .more should look at the winners and think what is wrong with me? why am i a loser? why didn't i work harder to help my boss and shareholders make more money? Where can I buy some sleeping pills and a gun or razorblade to slit my wrists and rid the world of my weak pathetic gene's? Or where can I buy contraceptive pills so I don't fall pregant and release my weak spawn onto the world? Surely people have to be rewarded for hard work. Why work hard if you can't be incentivised??? WHY JACKIE ???? WHY? The winners who were on the trip must laugh at the losers who were FIRED FOR LAZINESS because that is a perk that comes with sacrifice. YOU LOSER . .less by Senhor on January 28 2009, 12:12 Find this comment inappropriate? Report it

Now delete the comment you pathetic loser ! Thats thE only way you can compete. LOSER, WEAKLING, SPAZ, SOFITE, PAFF, LAYABOUT by Senhor on January 28 2009, 12:14 Find this comment inappropriate? Report it

PGP culture Indeed a response by Mr. Golding to this article has confirmed that he needed to defend something....The gist of the article was a true reflection of what actually took place, so don't shoot the messenger. Mr.Golding, the soiree was one thing, but . .more the publication and self adulation was in unfortunate and in poor taste..! If you do hang yourself for the publicity, expect the public scrutiny..You have more class than that buddy, so in future be more circumspect when contemplating "reward" events. . .less by Devil's advocate on January 28 2009, 12:32 Find this comment inappropriate? Report it

Chance to respond Andrew, it is my understanding that the writer of the article did attempt to contact PGP for their comments/viewpoints, however from the article it appears that you, and other spokespeople were unreachable, due to "overenthusistic" PA's. Had you bothered . .more to comment at the time, you would probably have avoided the need to explain yourself now . .less by Observer on January 28 2009, 12:36 Find this comment inappropriate? Report it

To Jackie - editor As someone mentioned, your credibility is now rock bottom! Andrews response makes complete sense. A trip like that takes months to prepare. And it was wayyyy before the property down turn!! And that in house magazine was in August 2008! Why . .more would you report on it 5 months later????? That alone would tell you that it was way before August (trip and planning thereof). Rather stay in the kitchen Jakkie! Wait, we cant trust you with the stove. Rather stick to the toilet!!! You are an amateur reporter and should already be banned! . .less by Sakkie Van Der Nkosi on January 28 2009, 12:39 Find this comment inappropriate? Report it

Come on! The whole point of Tabloid Tuesday, one would suppose, is to be provocative and yes even sensational. That might even be why it's called, er, Tabloid Tuesday... If you would like something more balanced, respectful (and dull), why don't you try any number . .more of property magazines and websites that pander to the industry for the sake of scoring some ads. West Coast is right. It may be shocking and even under the belt, but it comes from PGP's own newsletter. On one page they're bemoaning the fate of their colleagues, on the next they're doing the samba in sombreros. Ai carumba! . .less by Tropical Heat on January 28 2009, 12:39 Find this comment inappropriate? Report it

PGP/the facts refers THE DOCTOR says: "It is regrettable that Pam Golding Properties was not given the opportunity to advise the facts before this article was published." But, Doctor, you advised the facts in your own publication. Are the facts you present to your staff . .more and the outside world different? Sure, you didn't like the tone or the juxtaposition of two sharply contrasting corporate tales. But the facts? Anyway, my reading of that comment is you aren't' actually denying the facts as they were given in that Tabloid thingamyjigaamy. . .less by Fred THE Agent on January 28 2009, 13:10 Find this comment inappropriate? Report it

@ J Go smoke yourself a jay and chill. by Umfiki on January 28 2009, 13:25 Find this comment inappropriate? Report it

Question for SARS Are conferences taxable? So SARS, this fringe benefit tax: how does it work when wives, girlfriends etc. attend a company conference. And what about the offshore scenario? Presumably PGP paid this out of offshore earnings and Seychelles is a tax haven. by Tax payer on January 28 2009, 13:43 Find this comment inappropriate? Report it

What a lie... According to John Loos the property downturn started in 2004 (Business Day Summit business show transcript, January 13 2009) While that seems disputable it was definitely well in play by the time the trip was booked, Dec 2007 and DR AG knows it, liar. I . .more think its the typical disgusting corporate culture of excess for the top dogs, like the bankers who went to an expensive spa while their companies are bailed out or refurbished the office for $1.2mil while cutting jobs. Whats sad is that all the readers who normally shoot their mouth off here seem to scuttle around and lambaste the editor as soon as the big boy rears his head, absolutely pathetic. . .less by adb on January 28 2009, 14:07 Find this comment inappropriate? Report it

Let's not let the facts get in the way of a good story and let's all have a laugh by Pinochio on January 28 2009, 14:31 Find this comment inappropriate? Report it

for Andrew... an article on business ethics in the downturn http://www.reuters.com/article/newsOne/idUSTRE50R0CA20090128 by anon on January 28 2009, 14:40 Find this comment inappropriate? Report it

Senhor and Sakkie - Assumption? Senhor - you assume the people who were retrenched were agents. Sakkie - With Pam Golding Properties having the leading minds- when it comes to Real Estate in South Africa and maybe even the world- do you not think that management new about . .more what was comming in 2008? Come on, the signs were there in October/November 2007! This event could have been cancelled even though it was planned, booked and confirmed six months prior. The burning question is, is there going to be another conference in 2009? It is very unfortunate that this event and the company have all this publicity because of this. Unfortunately companies sometimes have to make difficult decisions, like retrenching people, but maybe the decision that was even more difficult was to cancel the event. . .less by Frikkie and his chickens on January 28 2009, 14:43 Find this comment inappropriate? Report it

The Facts vs The Story The Facts are simple: - 50 Employees dismissed - Annual Recognition and Conference held for 2007 achievements - Date: May 2008 (planned from Dec 2007) - GoldTalk published Aug 2008 (6 months before this story) Now read the . .more story again. This is creative story telling!! The tone is attacking in nature, and written for entertainment value and to elicit an emotional response from readers. By linking the dismissals with the Conference, PGP is portraided as being insensitive. It is clearly aimed at putting PGP in a bad light. Mr. Golding's reponse was spot on. We all know that only so much happens in real estate, and reporters have to be creative and dig in the archives to find a story to write about. Completely understandable. (Tabloid Tuesday...and all) BUT For serious members of the industry the story had no value, definitely not newsworthy let alone Moneyweb Homepage Material. It's one of those stories where we chuckle, roll our eyes and say: "Reporters". Suggestion: With the heading maybe include the words "Tabloid Tuesday" or the "Tabloid Icon" you guys use . Then the readers that enjoy Tabloid content can get their fix. And those who want to can avoid it by just spotting the Tabloid Icon... Everybody is happy. . .less by Split Gossip and Reporting Please on January 28 2009, 15:29 Find this comment inappropriate? Report it

PGP future similar to the Banks overseas spend spend spend on these uneccessary ott staff reward deals. PGP will go the same way as the banks overseas. they could have a conference in cape town for a quarter of the price. by Watch on January 28 2009, 15:38 Find this comment inappropriate? Report it

What does it matter? If property was in an up or down turn? I dont get it? You sell house - you make com - you have a party - you S*** some pretty happy estate agents on an island. That is what life is about. by Donkie on January 28 2009, 15:57 Find this comment inappropriate? Report it

@split gossip You mean that big "tabloid tuesday" image they used and having a by line of "Tabloid Tuesday reporters" wasn't enough? Some of the other commenters here are spot on the money PGP are only whining because everything is true. PGP have . .more been going for so long they must have some competent financial people working there so its really hard to believe they didn't know crunch time was coming when they organized the party. I think they didn't cancel because they were scared all their agents or worse customers would jump ship. I wonder how that's working out now... . .less by anonymouse on January 28 2009, 16:16 Find this comment inappropriate? Report it

Publication date/circulation date The date on the publication is Spring 2008. As far as we are aware, this is the latest issue - and this is the issue that was still being picked up in PGP offices this week. However, if there is a more recent issue, please let us know! by Jackie Cameron on January 28 2009, 16:44 Find this comment inappropriate? Report it

Boy, was it fun!! O, grow up, all of you. Real estate is not for sissys. Evry single person deserved to be there, given what they have been thru and are going thru at the moment. It was worth every cent, both from a company and individual perspective. Yes, people had to be . .more retrenched - whta's this got to do with the conference? - both are critical business strategies and mutually exclusive. Of course this year we will have a more lean and mean conference - but we'l stilll learn a lot, laugh a lot...and, yes, party a lot. More corporates should do this - it has a direct positive bearing on spirit and the bottom line. You just don't get it, do you! Go, PGP, go....the best real estate brand in the land! . .less by PGP rocks! on January 28 2009, 16:53 Find this comment inappropriate? Report it

The best real estate brand in the land! Really? Time for one of Aunty Jackies polls with one whole article space taken up with listing the top 20 (by turnover if possible) national, or regional brands. Let the readers decide. P.S Still no unclothed page 3 girls in Tabloid Tuesday articles. . .more If you are going to do tabloid, you have to go the whole Hogg. . .less by Tuscanite on January 28 2009, 18:36 Find this comment inappropriate? Report it

Jackie, you are a loser, journo Tabloid must be canned, it's not Moneyweb by PieHole on January 28 2009, 22:05 Find this comment inappropriate? Report it

To Frikkie and His Chickens I never assumed they were agents. I assumed (No I know) they are losers. And they had to be fired because they were fat weak and lazy. Why cancel? to make the losers like you feel better about being losers? It won't help, you are still a loser even though . .more you try and tell yourself that you are not. It nice to show losers that they are losers. Why win the World cup rugby ? Should we have felt sorry for England and not had a party because England were losers? Hell no we wanted to win so we could tell the Brits they were losers and have a party. As the Brits did to us and others when they won. In the famous words of Ricky Bobby and his sons Walker and Texas Ranger "you are first or you are last". Now loser go be a loser somewhere else. . .less by Senhor on January 28 2009, 23:26 Find this comment inappropriate? Report it

BY THE WAY PIE HOLE YOU ARE A LEGEND AND A WINNER Jackie you are a loser. by Senhotr on January 28 2009, 23:27 Find this comment inappropriate? Report it

Tabloid Tuesday working! It's working! Would be interresting to see how they reward their top performers up to FEB 09 ;) by Brains on January 28 2009, 23:43 Find this comment inappropriate? Report it

When the easy money dries up ... ... the parasites start turning on each other. I love it that Jackie doesn't feel the need to brown nose and feed us the usual property PR hype we have to endure in the traditional print media. It seems to me the ritzy world of . .more property is having a wee bit of trouble coming to grips with this whole crash thing ... . .less by CJ Says on January 29 2009, 07:16 Find this comment inappropriate? Report it

Oh, bloody hell Who gives a rat's A** what PGP do with their money? Guys, it's THEIR money. They've built a good business. Looking after your best people and canning your worst people is good for business. Not to mention that it's nobody's . .more bloody business. . .less by Brent on January 29 2009, 07:42 Find this comment inappropriate? Report it

Dear CJ, what crash thing? You mean the stock market crash? the negative returns on cash? You could not possibly be referring to the adequate yields on property? or relatively small corrections in house prices recorded by the banks? Property remains quite Ritzy indeed and I would . .more imagine there are a whole lot of new age renters reviewing their financial investment statements right now to see how they can preserve what little remains of their capital. sum. There must be a whole generation whose returns from investment policies are now due to mature and once they are over the shock of under performance and poor returns will probably invest the cash in property either local or overseas as a hedge. Diversification helps manage risk. . .less by Tuscanite on January 29 2009, 07:47 Find this comment inappropriate? Report it

It's time for the pros to step up! We just love this kind of market! This is the time when agents have to deliver the goods to clients - no room for the lazy or unprofessional. I'm with PGP all the way. Thanks, Andrew, for your great leadership. by Proud PGP agent on January 29 2009, 08:28 Find this comment inappropriate? Report it

Why is this news? C'mon Jackie et al. What PGP does with their dough is their business and no-one elses. If they see it fit to reward their agents with "extravagances" - so be it. This is gossip - not news. If I want gossip I'll read Huisgenoot. by Gazza on January 29 2009, 09:01 Find this comment inappropriate? Report it

No need to justify If PGP feels the need to hire the union buildings for a fancy dress party and dress as their favourite ANC puppet, complete with red strings and all, it's really nothing to do with anyone else - they are footing the bill with their own funds right? It . .more may be a poor business decision, but then it's their business to make poor decisions with. Why don't we all write in and slate our neighbours if they stay out partying all night when we know they have a meeting the next morning? It's the same thing... If this is what Tabloid Tuesday is all about, it has no place on a site that tries for a modicum of credibility. . .less by M on January 29 2009, 09:33 Find this comment inappropriate? Report it

You blew it! Admit it, Jackie, you blew it! What WERE you thinking? Stick to what you do well - credible, informative, relevant journalism.There's so much more to write about on the property market. The Moneyweb brand just lost some equity - you need to get it back. by Disappointed on January 29 2009, 10:45 Find this comment inappropriate? Report it

@brains I'm sure we can give Andy a few ideas for a reward holiday for the Feb 09'ers perhaps an ostrich race in Oudtshoorn.....GO PGP!!! Can i have a woot woot.. by anon on January 29 2009, 11:05 Find this comment inappropriate? Report it

PGP Rocks!!!!!! To Andrew & the PGP team - you guys know how special you are and what a great job you all do!!!! I hope that the truly informed will see this tardy peice of writing as mere selected extracts from a piece of collateral that is intended . .more to inspire, educate, uplift and enthuse the staff that are proud to be part of Pam Golding Properties. To Jackie - I have to say that apart from finding your article HUGELY trashy and sub-standard, lacking in both integrity, style or class ( suppose one has to have those qualities in order to exude them), I began to wonder if you possibly have a personal grudge with PGP, or maybe even one of friends does (should you be so fortunate to actually have one). Can't really be possible, but one just never knows what exactly happens in trailer parks... Anyway, not quite sure how you sleep at night, but so be it. . .less by P on January 29 2009, 11:29 Find this comment inappropriate? Report it

Frikkie and his chickens... and Jakkie Friks my broer! Luister hierso! Cancelling is not as easy! Some places take anything between 50% - 100% of whats been paid thus far! So yes, lets see... throw away a good few hundreds of thousands or keep your promise to your . .more staff! As an ethical employer, I think the right thing to do would be to stick to your word and awarding your colleagues for their hard work. The signs were possibly there end 2007, but that was just the START of it... which was when they decided to book the trip!!! Jakkie, you realise Spring started 01 SEPTEMBER 2008! It has since been over like 2 months now!!! I see many magazines in estate agents offices. I DONT ASSUME that thats the latest issues!!! Now get back to ironing!!! . .less by Sakkie on January 29 2009, 12:48 Find this comment inappropriate? Report it

Oh yah, its PGP's money anyway... So whats the fuss? They earned it, and they can choose to spend it the way they want to! Tabloid Tuesday should be called Disaster Tuesday!!! And Jakkie should change her name to Priscilla or something (cause I'd be ashamed to walk in public after the . .more previous, unresearched pathetic article) . .less by Sakkie on January 29 2009, 12:50 Find this comment inappropriate? Report it

Been hibernating Tuscanite ? What crash thing ? he asks ... LOL Lets see, my dear landlord gets 3.6 return, minus 3% for maintenance and rates, minus 15% for interest on his bond, gives us a loss of 14%. Then there's the fall in price of 20% ... so we are now in the region . .more of 34% down ... factor in inflation to get a real loss and we are getting into headache territory. That would be the crash I was referring to. The equity crash and financial collapse of the world financial system certainly helps oil the fall. Of course you could pretend that the Absa housing stats are in fact correct and that everything is hokey dorey ... I prefer living in the real world. . .less by CJ Says on January 30 2009, 09:07 Find this comment inappropriate? Report it

I ask again what crash thing? Review the Lightsone, ABSA, FNB and Standard Bank Indices. None reflect the claimed 20% fall in price. There is a large fall in the rate of appreciation which against the inflation rate gives a small negative real return. That's a correction. . .more 30 to 40 percent declines in equities is a crash. Cash earning interest and negative real returns after inflation with no prospect of capital appreciation will corrode your capital sum. Cash as a temporary refuge or transactional account holding cash is fine, but money should work for you, whether you speculate, invest or spend it to enjoy life in the real world. The world has had recessions before, its having one again and there will be more in the future. Life goes on. Property over the long-term provides very good risk adjusted returns. Diversification is good. Gearing can work for or against you. These comments are not for you but newbies. Enjoy 2009 CJ. I will. . .less by Tuscanite on January 30 2009, 11:42 Find this comment inappropriate? Report it

Pam's House So rumour has it.....this year's party is to be held at Pam's House. Far cry from the tropical isle of Seychelles.....lets have a barbie in the back yard! by Tut Tut on June 02 2009, 21:09 Find this comment inappropriate? Report it

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