Re: Tesco's problems aren't just economic
I'd call Tesco a textbook example of an organisation that got taken over by accountant types who hollowed it out in a search for ever increasing profits. Things that used to work, carried on working on auto-pilot, but with nobody left who understood the how or why of them. Everything from the shop floors to corporate finance. Last one out, don't turn off the lights ....
Eventually, one change too many, or one year on auto too many, and the house of cards collapses. Same thing as RBS really, except that Tesco can be allowed to go bust should it run out of money.
(I defected from Tesco to Sainsbury's a couple of years before the horsemeat scandal. When that happened, I can't say I was surprised. The writing was on the walls, and no-one there was reading it )