RE: Sep 2014:Short interest26 Nov 2015 00:25
It's strange how you keep referring to the dolt, let me take you way back to 2009 and when Marc Bolland (businessman of the year 2008) was the then CEO of Morrison's. You're probably not aware that Marc Bolland approached Ocado regards a partnership as the "Dolt" did but was turned down flat by Mark Price of the John Lewis Partership (Waitrose) being a major shareholder in Ocado at that point in time. JLP went on to sell their stake in Ocado at £2.65 per share (wow jackpot), the SP soared to well over £6 three years later, now who are the fools, no stake no say but I digress. Marc Bolland saw as Dalton did that Morrisons needed to modernise, does this make him a dolt also ? Lets fast forward to the appointment of Mr Potts Ex Tesco and all that. Wait before that lets hear from Mr Higginson (another ex Tesco dude) Morrisons current chairman regards the Ocado tie up and I quote “one of the better” deals done by Morrisons under Mr Philips. Yes that's straight from the Tesco horses mouth (oo'er) as they say. Right lets get back to Potts (The other ex Tesco guy). Mr Potts ( I assume he's an intelligent guy) wanted to scarp the current agreement and start again, er no you're tied in for 25 years Potts, read the small print! Potts wants to increase the coverage for online deliveries to Scotland and the south of London but doesn't want to pay for it. He did fail all five of his 'O' levels but the boy done good since, I assume written English was one of his weak points but he was one of Tesco's youngest ever managers to his credit. A "ridiculously generous contract for the foreseeable future" you say and yet the online sales for Morrisons were the only bright spot in the latest figures if you care to take a peak but I'm sure you already have. We won't see the true benefit of the tie up until 2017 so we will both have to be patient until then.
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