Is a classic case of addressing something after the Horse has bolted.
Utter waste of time and resources, what do they hope to achieve, the vilification of 20,30, 40 people who under self imposed duress fiddled the books and not even for there own financial betterment.
If the SFO has to investigate something why not look into how all those bankers that are responsible for the recession are still at large on the golf courses up and down the country. (Build new prisons get Bankers inside.)
The result of that financial fiasco still lives with us today, 25% of the Pounds purchasing power was wiped away in 2007/08 and since we are a major importer of food that resulted in HUGE food price hikes. Tescos merely and blithely passed these on to its struggling punters. Since then there has been very little wage inflation , so what you have is people desperately trying to cope with huge food costs on stagnant wages. With the benefit of 20 20 hindsight what should have happened was that Senior Tesco management should have appraised the situation and concluded that what worked before in the times of fat were not appropriate in times of famine and cut costs hard. They still should! Deadly Dave needs to ask himself why are all those cars in Aldi ? for I look at some of the smart cars in there and think bloody hell they used to be our customers.? Yours Long term grumpy Tesco shareholder.
LENGTHY PROCESS The SFO probe will replace one already being carried out by the Financial Conduct Authority (FCA) which will now be closed.
The agency will take months sifting through vast quantities of digital data and other evidence, while seeking to identify and trace witnesses. Some investigations might qualify for a so-called Deferred Prosecution Agreement (DPA). This is effectively a suspended corporate sentence and a new string to the SFO's bow that has yet to be tested.
But DPAs, the SFO has said, will only happen where it can persuade a judge that it is in the interests of justice and where a company cooperates fully and can show that it has put any misdemeanour behind it and removed offending personnel. www.youtube.com/watch?v=pQ7xyrJNlMU
Like reporting a Robbery where nothing was taken. If memory, serves the SFO spend most of their time paying Tax-payer Millions out to people, subsequently found innocent. Dont forget practices are industry wide, so fast becoming a Non Story, IMO.
SURE - so just a prank what ? I just hope they nail Clarke before he flees the country with his £20million + "Loot" from t` robbery. But prob be like the Murdoch fiasco -the bloke at top knew nowt and his management underlings pretty much got let off but hey watch out you shelf stackers.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.