McKinsey's South Africa fiasco . . .

huja · 27-06-2018, 11:51 AM

Long read but worth it. Buried in the article and of particular interest to me (and likely other GXP readers) is the work McKinsey has done for China's government and state-run industries. Would love to be a fly on the wall for those conversations.

https://www.nytimes.com/2018/06/26/w...imes&smtyp=cur

shri · 27-06-2018, 12:45 PM

Too bad the McKinseys cannot call on Marty Kaan.

Interesting reading.

10/10 for the "I take responsibility" statement. Almost unheard of from a modern day 'C' level executive.

JAherbert · 27-06-2018, 01:57 PM

McKinsey advise the HKSAR government too - enough said

freeier · 27-06-2018, 02:23 PM

Originally Posted by shri:

Too bad the McKinseys cannot call on Marty Kaan.

Interesting reading.

10/10 for the "I take responsibility" statement. Almost unheard of from a modern day 'C' level executive.

he took responsibility because their legal counsel already told them even if he claims responsibility there are no legal repercussion i am sure....

shri · 27-06-2018, 02:26 PM

@freeier - I don't think any legal counsel on any planet has ever said "there are no legal repercussions" in any situation... <-- note, this is a smiley, it is intended for humorous effect and in no way alleges that legal counsels do not advise their clients to admit the truth.

freeier · 27-06-2018, 02:53 PM

Originally Posted by shri:

@freeier - I don't think any legal counsel on any planet has ever said "there are no legal repercussions" in any situation...

<-- note, this is a smiley, it is intended for humorous effect and in no way alleges that legal counsels do not advise their clients to admit the truth.

did you get an inhouse opinion before you put that statement. there are quite a few implicit inhouse counsels posting on this website though...

Mat · 27-06-2018, 03:41 PM

nice read indeed, thanks @huja

shri · 27-06-2018, 04:41 PM

Finally got done reading it. Stunning series of missteps and certainly not behaviour that I'd expect from their partners.

Ties in nicely with Hong Kong .. their former head of South Africa has been transferred to HK. Let the jokes begin..

shri · 28-06-2018, 09:29 AM

Came across this while doing some research (was wondering if Rajat Gupta ex McKinsey was related to the South African Gupta family).

https://www.dailymaverick.co.za/opin.../#.WzQ4_hL-iEI

huja · 28-06-2018, 10:12 AM

Originally Posted by shri:

Came across this while doing some research (was wondering if Rajat Gupta ex McKinsey was related to the South African Gupta family).

https://www.dailymaverick.co.za/opin.../#.WzQ4_hL-iEI

Thanks for the link, @shri.

It is amazing that McKinsey continues to operate with impunity after being responsible for so many financial disasters. It has been argued that, like Goldman Sachs, McKinsey could be described as a “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

It's not amazing at all. It's completely predictable. Who do you think are regulators, lobbyists and cabinet members? Former Goldman and former McKinsey people.

Thanks, @shri.