The irony
of Tesco profits being hit because workers don't earn enough.
ByHARRY BLACKWOOD
HAVING worked for the BBC for a short time, I can tell you
categorically that most BBC journalists don't know their arse from their elbow.
Such is the narrow gene pool that the BBC selects its
journos from (think Oxbridge and public school) that it's no surprise that they
get the wrong end of the stick when it comes to even the most basic news
judgement.
This week there was a classic example of what I'm talking
about when Tesco announced its yearly results. The High Street behemoth posted
profits of £3.3 billion. Worth pointing out at this juncture that a billion is
a thousand million. So, a bunch of glorified corner shops pulled in 3,300 piles
of dosh with a million quid in each. Nice work of you can get it.
But the BBC wasn't interested in this massive amount of
profit because some highly paid executive had already decided that 'the story'
was a six per cent drop
in profits. Except it wasn't. If you strip out new store openings, the like for
like fall was only 1.4%. Not too shabby in times of austerity, inflation and
queues outside food banks.
