This blog gives you the latest topical news plus some informal comments on them from ShareSoc’s directors and other contributors. These are the personal comments of the authors and not necessarily the considered views of ShareSoc. The writers may hold shares in the companies mentioned. You can add your own comments on the blog posts, but note that ShareSoc reserves the right to remove or edit comments where they are inappropriate or defamatory.

How many corporate jets does Tesco need?

How many corporate jets does Tesco need? Four is the answer apparently. Every little helps (sic) as is their motto no doubt.

The cost of these aircraft has actually risen in recent years and the expenditure on them was £8.9m last year.

In addition the company has established a new “corporate” office in the West End of London for meetings rather than have directors travel to Cheshunt (that’s just north of London for those who don’t know).

One has to ask whether they have lost the plot so far as management of a retailing company is concerned, where a focus on controlling costs is always a paramount consideration. Also senior management have to set an example to all other staff in the company if costs are not to escalate. But this surely sets a bad precedent even if the company now has operations in far flung locations.

Roger Lawson

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