Tesco Still Suffering
January 6, 2015 4:40 pmVideo
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January 6, 2015 – Stock Market News
Advanced as the Google smart car is, it is not the only self-driving car in the works. Mercedes has come a long way as well. Unlike Google’s prototypes, Mercedes has worked on not just cars that can navigate on their own but be comfortable doing so. With no need to look at the road, the Mercedes model has broken out a number of preconceptions about how a car is supposed to look inside. With seats that rotate all the way around to allow all passengers to sit facing one another. The high-tech feel of the prototype isn’t even limited to its driving; the interior is paneled with screens, and the car can respond to hand gestures and eye movement.
Tesco remains in dire straits, but motions are being taken to recover. Losses go back further than this summer’s discovery of misfiled earnings to when low cost grocers set down roots and started to suck up Tesco’s business. This summer mostly just served as a sharp shake to spur Tesco on to correct a far slower demise. For its size and service, Tesco is unwieldy. With Aldi chipping away at the market, that is not something Tesco can afford. So, finally, Tesco is talking overhaul; cutting extra costs in workforce, management, and even removing benefits to suppliers. Tesco can’t accord not to manage its overhead better than it has been, especially after dropping more than 50% in three years, most of which in the past four months. Failure to adjust could send Tesco bankrupt in the short term.