So Noel Robbins ( Chief Operating offficer, UK for Tesco ) sells 50,000 shares 3 days before their price plummets ( saving him about £ 32,320 .) Apparently he didn't know the company was about to announce bad trading figures - leading to the loss of share price. Who is he kidding ? Isn't he supposed to be the man with his finger on the button ? This turn of events is not unique in business- but it makes me sick every time. It's morally wrong ( and appears to breach FSA rules - not that I expect there will be any sanctions .) In this particular circumstance, I know many people who hold Tesco shares, who are not in as 'priviliged' a position as Mr. Robbins, who have lost 16 %of their investment. I expect he'll go on to get a knighthood for his services to industry. And they claim that Anthony Worrall Thompson is a thief ! Any of you got Tesco shares ? What do you think ? - There are other supermarkets out there.
If this morning's news reports are anything to go by I think the French Government may have bought them off him
