business news in context, analysis with attitude

• In the UK, the Financial Mail reports that Tesco is expected to announce this week annual profits for the last fiscal year that are the equivalent of $4.9 billion (US). While this performance is expected to reinforce some people’s fears that Tesco is too big and is inhibiting competition, The Observer reports that CEO Sir Terry Leahy is “expected to champion Tesco as one of the UK's few global business success stories,” an approach that he hopes will deflect at least some of the criticism.

And, the Guardian reports on a new survey saying that Tesco CEO Sir Terry Leahy is the most influential unelected person in the UK. (Two others that made the list were Simon Cowell of “American Idol,” and Harry Potter author JK Rowling.)

• The Independent reports on how in US, the United Food and Commercial Workers (UFCW) is “trying to whip up an anti-Tesco campaign months before the grocer opens its first store there by claiming the retailer will promote underage drinking.”
KC's View:
We’ve been staring at the keyboard to figure out how to say this without lowering the level of the discourse, but sometimes you just have to say it the way it needs to be said.

The UFCW is full of crap, and doesn’t even seem to realize that specious campaigns like these push it to the point where its legitimacy comes into question. No thinking person is going to believe such a campaign, and we have news for the UFCW – Tesco appeals mostly to thinking shoppers.

However, we did enjoy the way the Independent described Scottsdale, the latest community where the UFCW has been sending out the accusatory flyers: “The latest batch of leaflets went out last Thursday to homes in Scottsdale, a wealthy suburb which attracts the likes of Christina Aguilera for its nightlife and Kate Moss for its rehab facilities…”