On Mon, 20 Jun 2005 23:17:12 +0100, Capitol
wrote:



Snip reasonable Tesco observations



Morrisons have cocked up? Please. they are one of the biggest. and bought
out Safeway.

Selling Morrisons shares was a no brainer decision when they took over
Safeway on borrowed money. They had no IT facility worth a light and
their shops offerings were not attractive to the southern preferences.

You can add their merchandising and buying strategy to the mix,
although frankly there is little to add.

When you merge two businesses and quarter the profits, you are
incompetent.

and/or arrogant. In this case both.

The interesting decision is whether to rebuy the shares on
the basis of a European takeover--Carrefour?.

That would be interesting in a roundabout sort of way....

If they brought the range of product choice and merchandising that
they have in France it would work pretty well here I think, although I
think that LeClerc and Auchan seem a bit better from the stores I've
visited. I went into a Carrefour store in Warsaw not long ago and
they had imported much of the French model and a fair amount of
produce there. It was doing good business as were Tesco.


Pension funds have very
active selling positions when shares do not look like performing.

... or on companies past their sell-by date.....




Regards
Capitol


--

..andy

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