Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
This morning my money tree worshipping comrade, the druid Getafix, aka Comrade Malcolm Stacey has written comments (HERE) about Tesco which are so completely insane that I have to respond. Quite simply, I can only assume that Malcolm took too much magic potion last night as he appears to be off with the fairies. Malcolm writes about Tesco:
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Comments
wildrides
The point your really making is that YOU dont want to pay the living wage at Real Man . The fact is it would be the same cost rise for all employers in the UK . Thus they would all raise their output prices ……… which would lead to inflation ………which is a good thing because interest rates would rise and debt would fall as a proportion of salary after a few pay rounds ….. people would spend more ……and the cycle goes on . Inflation under 5% is good .
Supermarkets main cost is for produce and goods bought in to re sell and not wages which are a fraction of the mark up employed.
Tom Winnifrith
Wilds.
No inflation is never good. It is the transfer of wealth from the prudent and poor to the feckless speculator and asset rich. It is Government sponsored THEFT.
Heck I want to reward hard working folks who dont have white collar jobs and punish the lazy. You seem to have a problem with that. You demonstrate the contempt for blue collar Britain which cost Labour the election in spades.
I make no apologies for being on the same side as hard working ordinary normal decent folks. My staff are on well above minimum wage. That the have jobs is because I was prepared to fund the losses of this place until I turned it around. Had I had an even higher wage bill under your crackpot scheme they would have no jobs.
It seems the druid is not the only money tree worshipping crackpot on this website
t
David Russell
Lol, Most shop floor workers are shareholders and live and breathe their jobs unlike some of the highly paid management who only care about the money they am paid. Like you said Tom these people who manage these companies do not risk their own capital unlike the entrepreneurs who started them. So they should pay more to the lower paid shop floor based on profits per store each month to boost the pay. Like Malcolm said if these companies paid a liveable wage to the shop floor staff then there might be less benefits paid out. I stack shelves in a supermarket and if I did not get my dividends each year I could not afford to live on the £500 a month I get. Just need one big investment to come good and I will get my groceries delivered..Lol.:)
Marvin
If Tesco ever needed a Rights Issue they would just ask their suppliers for a cheque.
Free markets. Gotta love em.
Rob H Trader
Somewhere between the two positions would be about right I think, i.e. a national minimum wage of say £7.20 with a tax free allowance of say £15,000 (so no tax payable on a nmw of £288/week)… This will have no impact on CEO’s and banksters trousering millions in salary and bonuses for doing very little, but it’d be a start… As for slashing benefits, I’d just leave ‘em all in place, but immediately introduce a compulsory community service element for all means tested benefits, so if you need the helping hand, you give something back… I suspect the ‘Benefits Britain’ problem would then very quickly solve itself…
alcira16247
Tom
I totaly agree with Malcolm Stacey and David Russell.
Any UK company paying less than a living wage, in whatever country they operate in ought to hold their heads in shame.
Its indicative of the appalling greed of today’s corporate bosses that they see no irony in demanding ever greater bonuses and incentives for themselves whilst demanding wage, overtime rates and holiday pay cuts for their shop floor staff.
Lets face it today’s fat cats would have us all working for a bowel of rice a day and argue it was down to market forces!
Remember, these people are from the same mould as those repulsive Tory Members of Parliament that would, with glee, castigate and vilify some poor unmarried mother for claiming a benefit she wasn’t entitled to whilst they stole tens of thousands of pounds from taxpayers claiming fraudulent expenses and indulging in tax avoidance! Disgusting creatures!
As for the utterly depressing Tesco’s, their staff are now so demoralized, their unhappiness is manifestly transparent in their face to face dealings with customers.
Tesco’s …… “every little helps” ……. it must had for them to afford not one corporate private jet……. but five! What a bunch of ******* takers! Universally despised and hated by their suppliers and now their staff and customers!
Tesco’s a train crash waiting to happen!
Malcolm Stacey
Not much use raising the tax threshold to £20,000 when some mean employers pay £15,000 a year, though. Tesco aren’t the worst payers by a long chalk, by the way. Other big names on the High Street pay much worse – the least possible amount they can – the legal minimum wage. But I agree Tommo knows more about the subject than I do, as he has family links with slave abolitionists,