business news in context, analysis with attitude

• In the UK, the Express reports that “losses have peaked at Tesco’s audacious US venture Fresh & Easy, says Sir Terry Leahy, clearing the way for the highly lauded chief executive to retire in March with his house fully in order.”

The story continues: “‘We opened at an unfortunate time,’ he says. ‘It was right at the epicentre of the financial crisis.’ However, he is redoubling his effort rather
KC's View:
“Audacious” is one word, though not really enough of a synonym for words like “ill-timed,” “misguided,” or “insufficiently researched.” That said, I have to admire what appears to be Tesco’s persistence.