Tesco

Grenage

NottinghamKnight said:

EdGasketTheSecond said:

I see we are living in a socialist country; sad days.

A truly capitalist economy wouldn't be handing that money out in the first place, just sink or swim with the related consequences, so paying it back is just a nil sum game unless you think large listed companies should be subject to government subsidies. 

This is exactly the case; in a truly capitalist country there would have been massive redundancies and closures.  After all, why should the tax payer cover the expenses of a company that can't put money aside for a rainy day.  Aren't consumers all told to have a 6+ month pot?

I imagine the only reason such companies were able to claim these lifeboats is that evaluating each company would be a logisitical impossibility.

veryintrigued

gollum007 said:

To point out (as a staff member)  they *are* paying an extra Christmas bonus of 10%

There was also a 10% bonus for all hours worked in the first lockdown.

Other aspects of pay have been changed (not going there), but coronavirus related pay has been generous.

That's an incredibly generous employer as you rightly say. 

I wonder if the OP is disappointed that the money wasn't given as dividends to share holders (who apparently took the risk).

Sailtheworld

Sainsbury's are giving back £440m.

Aldi & Lidl must be gutted because they're going to hand back their taxpayer money now,

EdGasketTheSecond

NottinghamKnight said:

EdGasketTheSecond said:

I see we are living in a socialist country; sad days.

A truly capitalist economy wouldn't be handing that money out in the first place, just sink or swim with the related consequences, so paying it back is just a nil sum game unless you think large listed companies should be subject to government subsidies. 

 In a truly capitalist economy you wouldn't have burdensome business rates and taxes in the first place so businesses would be on a healthier footing to withstand unexpected changes.

Bravepants

In a truly capitalist society everyone would have to pay for all of their public (private?) services and there would be no social benefits scheme. We would have areas of cities set aside for slums. Starvation, crime and social disorder would be rife. The rich would get richer, the poor would get poorer. Presumably, at some point, the rich capitalist elite leaders of the country would remove the right for poor people to vote in order to avoid the rise of an extreme left-wing. This would not however avoid the threat of a Red Revolution - cue social disorder, guerilla warfare witha risk of a coup leading to a collapse into communism, government paranoia and a restriction of freedoms.  

EdGasketTheSecond

Bravepants said:

In a truly capitalist society everyone would have to pay for all of their public (private?) services and there would be no social benefits scheme. We would have areas of cities set aside for slums. Starvation, crime and social disorder would be rife. The rich would get richer, the poor would get poorer. Presumably, at some point, the rich capitalist elite leaders of the country would remove the right for poor people to vote in order to avoid the rise of an extreme left-wing. This would not however avoid the threat of a Red Revolution - cue social disorder, guerilla warfare witha risk of a coup leading to a collapse into communism, government paranoia and a restriction of freedoms.  

Sheesh, and all because Tesco didn't pay back their business rates

csgohan4

bare in mind Tesco had accounting abnormalities a few years back, possibly to get some brownie points. But I wouldn't shop at tesco just because they did the right thing. Price and/or quality is always king for consumers. 

Alexland

Sailtheworld said:

Sainsbury's are giving back £440m.
Aldi & Lidl must be gutted because they're going to hand back their taxpayer money now,

Yes by acting first Tesco have damaged competitors such as Sainsburys and Waitrose (who will probably also have to give into pressure) who have seen more significant impact via their Argos and John Lewis stores so they will struggle to invest to keep up with Tesco. It will be interesting to see what the new owners of Asda do.

Linton

Aldi are following Tesco's lead.

csgohan4

For all the boom for supermarket, I am surprised Sainsbury hasn't done well, while the more premium ones like Ocado ha benefitted even more. 

I know overheads are high, but their stock performance is bizarre