so they only made last year.... How awful! *shakes head*
Just greed, that's all it is.
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Tesco Profits down by 50%
Quote by Rogue_Trader
But they turn over 64 billion?? the wage bill is colossal as they employ 380K staff with 260k in this country. So I am quite glad a UK company is coughing up this amount of profit, shame its not more to swell the coffers of the treasury!
This isn't greed, just good business!!
It it was good business they'd have made more than the 4billion they made last year surely?
The greed part is the huge amount of profits they make, not content with making millions it now has to run into the billions and with so much of their business concentrated in the UK their profits are made off the back of the consumer/local businesses supplying them...their pricing in store is not the cheapest but they probably buy in much cheaper than most simply cos of the power they wield.....for me Tesco and it's shareholders are greedy.
May be you'd prefer it if they made a loss and had to tell the staff we can no longer afford to invest anymore, and we have got to let you go?
Profit isn't a dirty word as you are making it out to be. Good business, in these difficult trading times, is the ability to carry on expanding/investing and being able to afford it.
Profit isn't a dirty word as you are making it out to be. Good business, in these difficult trading times, is the ability to carry on expanding/investing and being able to afford it.
So let us tax Tesco's out of business and what exactly happens to the huge amount of staff it employs right across the country?
Certainly not greedy, just damn good business people.
Tesco along with all the other major players in the supermarket sector, make a lot of money from their businesses. What is so wrong with that?
I would guess that one way or another the major players in this business being Tesco, Morrison's, Sainsbury's, Asda and Waitrose employ directly and indirectly 2 million people? 3 million people? More than that possibly? God knows what would happen if those businesses went to the wall.
Check what percentage the staff at Waitrose received this year in their bonuses.....in 2013 where most businesses are struggling, how many share in bumper profits?
Certainly not greedy, just damn good business people.
Tesco along with all the other major players in the supermarket sector, make a lot of money from their businesses. What is so wrong with that?
I would guess that one way or another the major players in this business being Tesco, Morrison's, Sainsbury's, Asda and Waitrose employ directly and indirectly 2 million people? 3 million people? More than that possibly? God knows what would happen if those businesses went to the wall.
Check what percentage the staff at Waitrose received this year in their bonuses.....in 2013 where most businesses are struggling, how many share in bumper profits?
I would have to see a breakdown of the figures to be honest, a lot of the super companies especially the supermarkets are using a lot of the money they make to re-invest in different areas and new stores, happy enough to make the profits they have, happy shareholders and a brighter stronger future.
I really don't know but there could be as much profit that they made or even double the profit gone in re-investment, not all companies make as much at they could make because of re-investment prograams or refurbishment/improvement policies.
If your paying the bills, keeping the shareholders happy and doing what you need to do spending money before the taxman knocks is a good idea for the future.
It is bad for businesses out there but we have success stories against the odds, the Pottery industry in Stoke is reporting massive gains on the world supply front, JCB are practically creaming themselves at how successfully they are doing against their own predictions, they even gave every worker a £500 christmas bonus jus to say thanks we are doing well.
All the companies doing well assist other companies in doing better, if Tesco sell more locally sourced farm products out farmers can get out of the rut etc etc.
Tesco do pay a lot of tax, unlike some copanies who have opened up in the UK and don't pay any or much.
I really don't know but there could be as much profit that they made or even double the profit gone in re-investment, not all companies make as much at they could make because of re-investment prograams or refurbishment/improvement policies.
If your paying the bills, keeping the shareholders happy and doing what you need to do spending money before the taxman knocks is a good idea for the future.
It is bad for businesses out there but we have success stories against the odds, the Pottery industry in Stoke is reporting massive gains on the world supply front, JCB are practically creaming themselves at how successfully they are doing against their own predictions, they even gave every worker a £500 christmas bonus jus to say thanks we are doing well.
All the companies doing well assist other companies in doing better, if Tesco sell more locally sourced farm products out farmers can get out of the rut etc etc.
Tesco do pay a lot of tax, unlike some copanies who have opened up in the UK and don't pay any or much.
Quote by Rogue_Trader
May be you'd prefer it if they made a loss and had to tell the staff we can no longer afford to invest anymore, and we have got to let you go?
Profit isn't a dirty word as you are making it out to be. Good business, in these difficult trading times, is the ability to carry on expanding/investing and being able to afford it.
Profit is a requirement to carry on and invest, I don't have a problem with that but when food shelf prices are going up disproportionate to inflation then who is that at the expense of?
and whilst you're off singing how many employees tesco have? what of those losing their jobs in say the insurance industry or banking? some of which is most likely a direct result of the likes of Tesco branching out into these sectors? what of the farmers and associated employees being squeezed out business due to the likes of Tesco bleeding them dry?
Tis my opinion that these 'difficult times' have partially been brought about by the greed of the recent established conglomerates such as Tesco who not content with fleecing the UK public have taken some of their UK profits paid for by UK citizens and invested it abroad ...which now appears to have taken ...nice that, UK money invested abroad and failing, brilliant!
Quote by Toots
Profit is a requirement to carry on and invest, I don't have a problem with that but when food shelf prices are going up disproportionate to inflation then who is that at the expense of?
and whilst you're off singing how many employees tesco have? what of those losing their jobs in say the insurance industry or banking? some of which is most likely a direct result of the likes of Tesco branching out into these sectors? what of the farmers and associated employees being squeezed out business due to the likes of Tesco bleeding them dry?
Tis my opinion that these 'difficult times' have partially been brought about by the greed of the recent established conglomerates such as Tesco who not content with fleecing the UK public have taken some of their UK profits paid for by UK citizens and invested it abroad ...which now appears to have taken ...nice that, UK money invested abroad and failing, brilliant!
food prices are coming down
Now the majority of folks in this country are better off than they were last year due to pay rises, changes in income tax thresholds...so its a win win.
It appears to me from your statement, that no matter what rational point can be put forward for Tesco, you have made up your own mind irrespective.
I don't shop at Tesco's or hold any of their shares so I have no personal bias, except to say I am for companies making money.
Quote by Rogue_Trader
food prices are coming down
I don't shop at Tesco's or hold any of their shares so I have no personal bias, except to say I am for companies making money.
Food prices coming down, yeah right!
Could you be so kind as to tell me if your claim to 'food prices coming down' has been affected by portion sizes being reduced or by the quality of an item being reduced? What of the prodcuts thrown away by the supermarkets? Bought but not sold but certainly accounted for
For every graph or news item you post re food prices going down I could probably post double the amount with them going up.
and I like most others shop each week and I can tell you from my experience that food prices are going up. A can of beans may once have been 465g, now 415g, price the same but due to the portion reduction that is a price increase but one most likely not accounted for via your graph.
CPI as generated by the office of national statistics shows food prices down, cpi is being pushed up to its present figure of 2.7% by audio visual and recreational goods.
I'd rather believe the ONS instead of Daily Mail and Guardian for sources of data.
As for portion sizes, maybe, but you could always make you're own.
I'd rather believe the ONS instead of Daily Mail and Guardian for sources of data.
As for portion sizes, maybe, but you could always make you're own.
Quote by Rogue_Trader
CPI as generated by the office of national statistics shows food prices down, cpi is being pushed up to its present figure of 2.7% by audio visual and recreational goods.
I'd rather believe the ONS instead of Daily Mail and Guardian for sources of data.
Well why wouldn't you when it tells you what the Govt think you want to hear, of course the much criticised ONS isn't in the Govt's pocket now is it? All the criticism levelled against it is all what?
Well when you see mobile phone apps and dating agencies as part of the Indices used to calculate CPI/RPI then you just know you're on a hiding to nothing where produced ONS statistics are concerned.
Quote by Rogue_Trader
CPI / RPI is based on what people by, sorry if that's not to your liking.
maybe you just want the food stats...oh but wait they show it going down!
*laughing* I didn't have you down as an apologist for the Govt or the ONS but you're
doing a pretty good job *smiling*
As for you 'based on what people say' uh huh! really? How many people do you know that
factor in the payment of a mobile phone app as part of their budget?
But CPI/RPI first it was CPI but now it's RPI?
Coverage. Both indices notionally cover a basket of goods and services bought by households with the components weighted according to their average share of household expenditure. They are compiled, essentially, from the same basic information on individual prices with weights and the basket’s composition updated annually. However, there are some important differences in the basket of goods and services covered by the two indices, while the RPI excludes some households at the top and bottom of the income scale and also purchases by people not living in households.
The best known coverage difference is that the CPI excludes most owner occupier housing costs while the RPI includes mortgage interest payments and house depreciation. But this is not the only factor. Council tax, vehicle excise duty, TV licences are among elements excluded from the CPI which also includes spending by overseas residents while visiting the UK. The RPI also has one or two exclusions such as university student accommodation costs and stockbroker and unit trust charges; these result essentially from the limitations on its population coverage
Sex God
Quote by Rogue_Trader
..... So I am quite glad a UK company is coughing up this amount of profit, shame its not more to swell the coffers of the treasury!
This isn't greed, just good business!!
Tesco control 30% of the UK grocery market and have over 2,000 stores in the UK. In 2010 they made a profit of , yet they will still go to great lengths to avoid paying tax. Using complex legal structures Tesco has avoided stamp duty land tax to the tune of £90-£100m and £23m in stamp duty.
Tesco has its headquarters in the sleepy Hertfordshire town of Cheshunt. Something else that you can find there is Cheshunt Overseas, a limited liability partnership that has enabled Tesco to avoid £16m in tax through overseas business rules.
The sums Tesco has avoided may not be as much as Green or Vodafone, but hey, every little helps!
Sex God
i couldn't comment most of my shopping comes from local small retail outlets like a local butcher and greegrocer
What are they? i hear you say ..........google em if your not sure
What are they? i hear you say ..........google em if your not sure
Sex God
Quote by Toots
so they only made last year.... How awful! *shakes head*
Just greed, that's all it is.
Why on earth is it greed? It is called business.
Your attitude seems to be quite a popular one at the moment where wealth, wealth creators and big business is demonised as if capitalism is the great Satan. Tell you what, let's go back to 1970's where Britain had more State owned industry than any other European country and second only to the Eastern Bloc.
Not sure how old you are but if you can remember the late 1970's it was a disaster until thankfully the late and very great Lady Thatcher took strong and decisive action to bring our country into the modern world.
Sex God
Quote by flower411
I can remember the late 70`s and not many people would deny that something drastic had to happen but selling off the countries assets at knock down prices was a disaster bordering on criminal.
Balancing the books by selling off assets is one thing but selling them cheap to line the pockets of your mates is something else altogether.
Some ridiculous politician on the telly the other day said that if Cable and Wireless hadn`t been sold off there would be no mobile phone industry today!
What assets were sold off cheap to further the corruption that you allude to? Presumably such action would be illegal and opposition Politicians would be keen to pursue a criminal action?
Sex God
Quote by GnV
Welcome back TH. Hope your trip was successful - or should you not disclose it just in case the fat lazy left wing socialites find it extremely distasteful that someone should dare to make a profit
It was very successful thanks and it looks like I will hit my target profit of £200,000 this year with a few months to spare. Only problem is I don't know what would be more socially acceptable:
1) Stop working after 8 months and have the rest of the year off OR
2) Be labelled as greedy for working the last four months of the year and earning more profit.
Tough call
I thought that Thatcher just got rid of the companies that were oozing money, more importantly taxpayers money down the drain?
Anyone would think that Thatcher left office last year, and not all those years ago. When Blair eventually got the Tories out, did he give the unions back their power, or get back the loss making companies Thatcher sold off by any chance? Did he actually reverse any of her policies?
Secretly he admired her and Brown even invited her to number 10 and had a very nice photo opportunity.
Ah...........Silence.
Anyone would think that Thatcher left office last year, and not all those years ago. When Blair eventually got the Tories out, did he give the unions back their power, or get back the loss making companies Thatcher sold off by any chance? Did he actually reverse any of her policies?
Secretly he admired her and Brown even invited her to number 10 and had a very nice photo opportunity.
Ah...........Silence.
Quote by starlightcouple
I thought that Thatcher just got rid of the companies that were oozing money, more importantly taxpayers money down the drain?
Anyone would think that Thatcher left office last year, and not all those years ago. When Blair eventually got the Tories out, did he give the unions back their power, or get back the loss making companies Thatcher sold off by any chance? Did he actually reverse any of her policies?
Secretly he admired her and Brown even invited her to number 10 and had a very nice photo opportunity.
Ah...........Silence.
That bit
Quote by nellie-mwgc
I thought that Thatcher just got rid of the companies that were oozing money, more importantly taxpayers money down the drain?
Anyone would think that Thatcher left office last year, and not all those years ago. When Blair eventually got the Tories out, did he give the unions back their power, or get back the loss making companies Thatcher sold off by any chance? Did he actually reverse any of her policies?
Secretly he admired her and Brown even invited her to number 10 and had a very nice photo opportunity.
Ah...........Silence.
That bit
Ah sorry.
It seems that Blair approved Thatchers funeral details a few years ago. Not the actions of someone who did not have respect for her, and his speech after her death was of a man who greatly admired her.
Sex God
Quote by flower411
I can remember the late 70`s and not many people would deny that something drastic had to happen but selling off the countries assets at knock down prices was a disaster bordering on criminal.
Balancing the books by selling off assets is one thing but selling them cheap to line the pockets of your mates is something else altogether.
Some ridiculous politician on the telly the other day said that if Cable and Wireless hadn`t been sold off there would be no mobile phone industry today!
What assets were sold off cheap to further the corruption that you allude to? Presumably such action would be illegal and opposition Politicians would be keen to pursue a criminal action?
I`m not going to get into a tit for tat with you but I`d suggest Jaguar, British Telecom, Cable and Wireless and British Aerospace were hugely undervalued in the sell off. I remember the Cable and Wireless sell off well as I was working at Flemings and remember the champagne flowing in the dealing rooms !
No need to go tit for tat, but your post suggested corruption which is totally illegal (not just bordering on it). If pockets were lined at the time, I am just surprised that no Politician or journalist since has sought to get to the truth in a Court of Law.
I can't comment on the individual examples because I don't know if they were State owned at the time and if so if they were doing a particularly good job. My memories are of Jaguar cars being crap and losing money until Ford took them over and British Telecom being the worst telecoms provider in Europe. It is hard to sell somethging for top dollar when it is rubbish and when you need the buyer to invest much more as well on speculation.
Quote by starlightcouple
Inflation was running at 26% when Thatcher came to power..........I wonder why that was. Oh and inflation was what at the end of her term as PM ?
Googled this...and inflation actually peaked at 26% 18 monthes before Mrs Thatchers became Prime Minister, under the Tory administration of Edward Heath. when she took over it was actually 17%.......when she left office it was 9%.
On same page it showed unemployment was at 1.5 million when she took over and by time she left it was 3 million !!!
Maybe inflation had dropped as no one could afford to buy anything !!
Getting back to the original point....I have no problem with Tesco making money. There is plenty of competition out there, to drive down prices. I can understand the profits being down, I would guess it is not helped by the recent food scares. Maybe they can spend a few more bits of the profit making sure, what they sell us..is what it says on the package.
Quote by deancannock
Inflation was running at 26% when Thatcher came to power..........I wonder why that was. Oh and inflation was what at the end of her term as PM ?
Googled this...and inflation actually peaked at 26% 18 monthes before Mrs Thatchers became Prime Minister, under the Tory administration of Edward Heath. when she took over it was actually 17%.......when she left office it was 9%.
On same page it showed unemployment was at 1.5 million when she took over and by time she left it was 3 million !!!
Maybe inflation had dropped as no one could afford to buy anything !!
Getting back to the original point....I have no problem with Tesco making money. There is plenty of competition out there, to drive down prices. I can understand the profits being down, I would guess it is not helped by the recent food scares. Maybe they can spend a few more bits of the profit making sure, what they sell us..is what it says on the package.
Not sure what you've Googled Dean but Jim Callaghan was PM 18 months before Thatcher. Inflation peaked in 1975, under Wilson's Labour government.
