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[bbtzs]

It is true we cannot compete in manufacturing at a low tech level. Our only hopes tend to lie in high tech, high entry barrier industries.

The low wages necessary to manufacture cheaply enough on a world scale are probably even lower than the minimum wage. Add to the fact that we have without restriction imported many of those workers who will work for minimum wage from Eastern Europe, we have ourselves a problem that has ended up in rather a significant reliance on Banks!

At least Tesco is one company that earns very significant amounts abroad and is a world leader.

Buying from ASDA because it is cheaper just proves the point. There is a store that probably ensures the poor state of shopping in Hatfield. It is however popular (despite being the biggest retailer in the world and American,) and employs people on pretty poor wages, a good number of whom are not ethnic Brits.

I don't know how many people are on benefits and dont want to compete for such low wages and 'shift work'. My guess is that the difference is 'not enough to be worth getting out of bed for' but I guess that is for them to say or at least believe.

[Henrycrun]

BTW does anyone know why the Tesco CEO was given an award by the University last year?
What exactly has he done for our area ? (or indeed what has he done for the UK!)
http://www.herts.ac.uk/news-and-events/latest-news/Graduates-celebrate-their-achievements-at-awards-ceremonies.cfm

[bbtzs]

BTW does anyone know why the Tesco CEO was given an award by the University last year?
What exactly has he done for our area ? (or indeed what has he done for the UK!)
http://www.herts.ac.uk/news-and-events/latest-news/Graduates-celebrate-their-achievements-at-awards-ceremonies.cfm

To be honest I can't see what you are complaining about. One of the few world class companies that have been built here in Britain in recent years is Tesco. It is a Hertfordshire Company and brilliant at what it does. I know that we would all rather be creating great manufacturing companies etc but let us at least applaud what we have done extremely well. Sir Terry Leahy has taken the company forward and made it a truly international business bringing in considerable foreign earnings. Why knock it? I would prefer to knock the ASDA's who are foreign and part of the worlds biggest retail company. Also by even lower prices they make it even harder for the local shops to survive.

Long live Tesco, may it prosper forever in preference to Foreign companies. One of our few competitive industries in the world we have left!

[jonmorris]

Yes, long live Tesco. If they can just drive down prices from suppliers even more, they'll be an even bigger success. Good luck to them.

I can't wait until they replace most of the checkout staff with self-checkout machines, leaving only semi or non-skilled staff left to stack shelves.

The only upside is if they pay all their tax here and give a share of their profits back to the UK economy. I don't know if they do, but I certainly hope so.

[Broadside]

Yes, of course, Tesco put absolutely nothing back in to
the Hatfield / Welham Green / WGC / Cheshunt area that is their base - I've tried to encourage them.
However, scouser Tesco MD Terry Leahy, who lives locally, has appeared to instigate the building of a football stadium for Everton (his fav team) that incorporates - you guessed it- a Tesco store.
Sod the WelHat area. Splash out sponsorship to the North West.
Disgraceful.
And you thought the University was bad?
 

[jonmorris]

Sounds like a great idea; Supermarket & Football combined.

If the ball crosses the line, it can be scanned and the player must pay in order for the goal to count. Teams will relish the day that Tesco introduce a score one, get one free promotion. If you're sufficiently ahead, it will be great to have the option of having one goal count today, and the other being usable at a later date.

Tesco will of course quickly realise that it's not cost effective to have 22 players on the pitch, getting rid of them and inviting the fans to come on and kick the ball about by themselves. The referee will also be removed, with one ref sitting in a remote control centre overlooking 16 games simultaneously.

[bbtzs]

I must start a thread where we can knock some succesful foreign companies but of course no one could be bothered.

[jonmorris]

It's a global economy. If you're praising Tesco for making huge profits, then presumably you must also praise oil companies and competitors like Walmart.

Why the loyalty to a British company? As a shareholder or investor, you'd support whoever makes money. Now if you're praising Tesco because of its services to the community or investing in staff, fair enough.. But surely Asda also employs lots of people here too - even if the profits go abroad?

And what about the ethics of a company? Wouldn't we be better off supporting the Co-Op instead of a company that drives down wages and prices paid to suppliers? A company that will soon reduce its staffing levels, or at best keep the staff but on a lower grade having done away with the need to give multi-skilled training

We have to choose what hat to wear. If I wanted to make good profit, I'd definitely buy shares in Tesco. If I'm thinking of a company that might one day employ my children, I'd be somewhat concerned.

And, for the record, I'd happily get involved with a thread that spoke of successful foreign companies. In fact, there's a thread on here about Kraft already.

[bbtzs]

Anything you say about Kraft may well be said about Tesco. I just dont know why it is good to be a foreign company making money and not British and why Walmart can be distinguished as if they are not also driving down costs and looking to reduce staff.

It is the knocking of our own companies that gets me. It is only by building good companies that we can pay our way in the world.

By the way watch Kraft drive down the costs and attempt to optimise profits.

Your arguments dont hold water. All companies have the same basic aims. Even the co-op doesnt go around asking suppliers to raise prices. It is a competitive world.

[jonmorris]

As you rightly say, any business has the same aims.. which is why I wondered why we were supposed to applaud Tesco simply because it's a British company that drives down prices at any cost.

I gave other examples purely at random, although Walmart is a good example of a foreign company that has a large business interest here. Consequently, Walmart must be considered a huge success Stateside (but at the same time, look at all of the negative press the company gets on how it treats staff and suppliers).

The question is; is it morally okay to make money at any cost?

I shop at Tesco, so I am always well aware of the hypocrisy of me questioning their practices and still giving them my custom (and money). The problem is, whatever we might think, we still need somewhere to shop that has what we want.

[bbtzs]

Is it OK to give up then and let everyone else take the business and leave us poor with no earning capacity?
I dont think they do make money at any cost. They are tough but so are the rest. Their staff terms and conditions seem pretty good and they certainly dont pay the low wages of some industries. Whitbread as an example are probably lower payers as are many in the hospitality trades.
This is a market economy and is probably preferable to a communist type controlled one where corruption is the order of the day. I dont see a perfect answer but, I just dont understand why when we have a really exceptionally British company we knock it. Apple are a great example of marketing and cornering their market. They actively drive out competition by seeking niches and then exclude opposition. Their goods are way overpriced as a result but they hook in young people who struggle to pay the high price. No-one knocks them but they are creating debt and wasting the money of many young people by clever marketing. All we hear is their praises! Why? They are not Britsh, I guess that helps!

[jonmorris]

I'm totally with you on the comparison with Apple actually.

[Mighty Hatfield]

This is a market economy and is probably preferable to a communist type controlled one where corruption is the order of the day.

oh yes im sure the owners and board members of these super-supermarkets pay full whack on their earnings and dont have any secret overseas holdings

[jonmorris]

The thing is, if you owned a business then you'd be quite keen to use any techniques possible to avoid paying tax too.

[bbtzs]

Agreed Jonmorris. There are those with a chip on their shoulder and those with two. Most people who taste a bit of success like to keep the rewards as far as they can. I don't know anyone who asks to pay more tax and the suggestion that they should is a little niaive. I do all I can to avoid paying tax and see it as a duty to me and my family. At least what I have left over I can decide on what to do with. What is taken away is often squandered according to my reckoning.