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Tesco posts unprecedented profits

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    The people who one would expect to decry profit are doing so. Odd how M&S' business practices aren't commented on, or Sainsbury's, or whoever's. Tesco making money = bad, that's all there is to it.

    Tesco's business practises aren't any worse than any of the other supermarkets, they are just bigger than the other supermarkets. They rob both supplier and consumer, that isn't in doubt, but people choose to be robbed in nearly all cases. All big towns have a decent market which is cheaper and better quality, but people choose the convenience of the supermarket instead of shopping at a different store for each item of food.

    And a significant minority of Tesco profits come from non-food items such as electricals or cosmetics, where they undercut high street stores by simply cutting profit margins. WHSmith, Boots and M&S all have the same (if not more) dubious attitude to suppliers, but aren't managed as well so make less money.

    In terms of looking after staff Tesco are better than the other supermarkets, it should be noted too.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    http://www.themeatrix.com/

    This seems a good time for this link........

    Competition = good

    Monopoly/monopsony = bad

    Very very simple.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Kermit wrote:
    The people who one would expect to decry profit are doing so. Odd how M&S' business practices aren't commented on, or Sainsbury's, or whoever's. Tesco making money = bad, that's all there is to it.
    I was thinking in general terms, Tesco are just in the firing line because they're the most successful atm.

    I would like to see a return to smaller businesses ruling the market but they can't compete any more. From what I've read even just in this thread, though, I do think that business practices in all major stores need examining.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Rich Kid wrote:
    Provide the evidence.


    Look around you, read up about the harm that pesticides cause, watch the news (the tragedy of the cocklers at Morecombe Bay for example), talk to people who've lived in a community for some time. Get out of your middle class ghetto for a bit.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Rich Kid wrote:
    Stop whingeing some of you! If you want cheap food then you've got to expect market forces to operate,

    You say this like you think "market forces" are a law of nature.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Kermit wrote:
    They rob both supplier and consumer, that isn't in doubt, but people choose to be robbed in nearly all cases.

    You keep banging on about "choice" as if we actually have any.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    You could always go change things for yourself instead of whining to someone else to change things for you.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    LOL! :D You have no idea what my past or current political activism is, so I suggest you shut it until you get a clue.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Any "political activism" shows that you have no power, admits that you must beg someone else to make changes and ultimately means that it's pointless. Even blowing up the twin towers shows how little power those who did it felt themselves to have.

    Any "political activism" that was aimed at the government had the effect of consolodating their power.

    You have no idea what I have done and actually achieved in my own quiet way. I will keep on talking.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Oh dear oh dear. :( You really are completely clueless aren't you? :D
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Blagsta wrote:
    LOL! :D You have no idea what my past or current political activism is, so I suggest you shut it until you get a clue.

    Blagsta the Revolutionary Activist...hmm...could actually picture that one!
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    klintock wrote:
    You have no idea what I have done and actually achieved in my own quiet way. I will keep on talking.

    fill me in please...
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    turlough wrote:
    Blagsta the Revolutionary Activist...hmm...could actually picture that one!

    I've been involved in a bit of direct action in the past, yes.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Blagsta wrote:
    I've been involved in a bit of direct action in the past, yes.

    so have i...well throwing stones and petrol bombs at the RUC and the army actually...i'm sure you knew what you were doing though...
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Blagsta wrote:
    I've been involved in a bit of direct action in the past, yes.







    cafeanarchylogo4mx.gif
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    From what you read Tesco sound pretty ruthless and aggressive in how they treat suppliers. I doubt they’re much worse than Asda or Morrisons though. M&S and Waitrose seem a little more caring towards their suppliers than the rest though.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    From what you read Tesco sound pretty ruthless and aggressive in how they treat suppliers. I doubt they’re much worse than Asda or Morrisons though. M&S and Waitrose seem a little more caring towards their suppliers than the rest though.


    that isnt the point, personally all the supermarkets, to be fair they are very convenient but its their treatment of suppliers thats the problem along with the other groups

    id like to see an end to subsidised mass produced farming, which in the end make a lot of the supermarkets profits

    and btw supermarkets arent cheap, even tohugh you keep saying it, for branded processed crap possibly they are, unless you know import places, but for anything that is remotely real like meat and veg and juice etc theyre far more expensive and lower quality than market stuff

    the problem though about tescoes specifically is their ruthless treatment of small central london shops effectively giving them a complete monopoly by buying up all the small retailers who arent done by the mergers and monopolies commision
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    http://economics.about.com/library/glossary/bldef-monopsony.htm

    What tesco has is a near monopsony. Should be just as illegal as a monopoly but isn't. I wonder why........
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    that isnt the point, personally all the supermarkets, to be fair they are very convenient but its their treatment of suppliers thats the problem along with the other groups

    And you're missing the point... :rolleyes:

    All the supermarkets? There are big differences between the way M&S and Waitrose treat their suppliers and the way Tesco and Asda treat theirs.

    I'm not saying M&S and Waitrose are perfect but I just don't think you can lump them together with the others and just label 'all' the supermarkets as being bad. That's pretty clumsy and doesn't really add much.

    As for Tesco if you don't like their practices don't shop there. But that’s too greater sacrifice given that loads of people moan about how bad Tesco is yet will still do the weekly shop there.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    klintock wrote:
    http://economics.about.com/library/glossary/bldef-monopsony.htm

    What tesco has is a near monopsony. Should be just as illegal as a monopoly but isn't. I wonder why........

    like the nhs and prescription drugs for example

    getcha!

    anyway disilliioned, i didnt really mean waitrose, i meant the more classical form of the supermarket known as tescoes asda and sainsburys (which despite their advertising, are relatively bad too)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    And you're missing the point... :rolleyes:

    All the supermarkets? There are big differences between the way M&S and Waitrose treat their suppliers and the way Tesco and Asda treat theirs.

    I'm not saying M&S and Waitrose are perfect but I just don't think you can lump them together with the others and just label 'all' the supermarkets as being bad. That's pretty clumsy and doesn't really add much.

    As for Tesco if you don't like their practices don't shop there. But that’s too greater sacrifice given that loads of people moan about how bad Tesco is yet will still do the weekly shop there.


    when i was in central london halls my only choice of shops was a sainsburys central which was quite big, and lots of tescos metros, not one small retailer around.....

    they could charge what they want basically and get away with it, if that isnt a monopoly, what is?
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    when i was in central london halls my only choice of shops was a sainsburys central which was quite big, and lots of tescos metros, not one small retailer around.....

    they could charge what they want basically and get away with it, if that isnt a monopoly, what is?

    I find that impossible to believe. I don’t believe for a second that the only shops within reasonable walking distance were Tesco metro and Sainsbury’s central. What about M&S? I know of several of their shops in central London. I also know of a Waitrose in central London...I guess you'll have to be more specific as to where in central London. I just don't see a monopoly there.

    And what about rural villages with one local small retailer? In that village that retailer has a monopoly and can charge whatever they like and often get away with it.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Do you know how expensive M&S and waitrose are? I can't afford to buy food there week in week out, nor can I afford to travel out of town to get food from independent retailers. It'd be nice to have the freedom, but unfortunatly freedom costs money that most students don't have.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    like the nhs and prescription drugs for example

    Hmmm... I'm always amazed that the NHS doesn't drive a harder bargain on drugs.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Yes. the "government" holds the largest set of monopsonies. I would love to set up a private firm or ten to do the jobs that they give to local coucils for an example.

    Of course it's all about who's pockets you line first with the current regimes.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    A private firm? Why? Money is imaginary isn't it?
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Certainly is mate.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Your whole argument is contradictory nonsense.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Fiend_85 wrote:
    Do you know how expensive M&S and waitrose are? I can't afford to buy food there week in week out, nor can I afford to travel out of town to get food from independent retailers. It'd be nice to have the freedom, but unfortunatly freedom costs money that most students don't have.

    They are expensive. Although I don't think they are as expensive compared to Tesco and that as people think. But anyway they're still adding to the competition, they're another choice for people. And if you can afford it it's better quality stuff and in general the suppliers are probably being treated a bit better.

    Although students who work there part time can afford to shop there...Very cheap date expired food and staff discount. :p
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Not all students work there though, and while the price difference per product might not be all that much, it adds up. It's easy to say 'well there MUST have been a waitrose or M&S foodhall near you', but when you're living on sainsburys own brand and tesco value baked beans as it is...
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