Just When You Thought It Couldn't Get Any Worse For Tesco

[mikey4444]

http://www.bbc.co.uk/news/business-29488777

I bet they wished they hadn't ordered this flipping plane now, as I guess the price of planes, like cars, plummets as soon as they leave the showroom !

[janbee]

Unless it's an actual airline company, who needs FIVE planes?

[Cloverjo]

I can't understand why they need five planes. I did read all of hypognosis's post. My local Tesco is one of my favourites, so I hope it keeps going. The service is good, prices are reasonable etc. It's so much better than its nearest rival here - Morrisons - where you have to queue for ages because they won't open enough checkouts. I can't understand how things have gone so wrong.

[mikey4444]

CloverJo...I too like Tesco, and prefer it to the other main supermarkets, although I shop at Lidl a lot these days !

I can understand what is going on.....they got greedy. When you are as big as Tesco, you are at the mercy of your shareholders and it appears that people within the company has falsified the accounts, to keep the share price high. As regards the jets, these aren't needed at all, as Tesco will discover when they are sold off soon. It seems Tesco has just got too big for its boots and is now paying the penalty. With its share price so low, they are a prime target for a takeover bid.

[Gromit]

They already had FOUR executive jets!

While their workforce is on minimum wage and zero hours contracts.

Disgusting largess from a disgusting company. May Aldi and Lidl bring about their demise soon!

[Hypognosis]

@Mikey

Warren Buffet lost a hundred+ millions on his shares, allegedly.
Refreshing levels of frankness for someone of his stature. Cynics might say that he's 'shorting' the stock, hoping to clean up after he's spooked other holders to cut their losses and releasing their holdings. (But they'd be wrong).

[mikey4444]

Hypo...that would be a very small sum to Mr Buffet I am thinking...just loose change !

[Hypognosis]

@Cloverjo Thanks :)

@Mikey
I wouldn't know anything about how much other wealth he has or what businesses he runs. His name crops up in the odd Facebook meme*; if it weren't for those, I wouldn't have a clue who he was.

* possibly posted by Think Progress.