Truthdig - Ear to the Ground - Starbucks Going From Venti to Grande

			November 11, 2009 Log in / Register
			Text Size

Gorbachev's Sermon on the Mount

The Man Who Put the Rainbow in 'The Wizard of Oz'

A Disappointing Year With Obama

Kucinich: Why I Voted No

Afghanistan's Sham Army

Gorbachev’s Sermon on the Mount
By Robert Scheer

Department of Health Care Misinformation
By Ruth Marcus

A Disappointing Year With Obama
By William Pfaff

The Man Who Put the Rainbow in ‘The Wizard of Oz’
By Amy Goodman

Lousy Sex Life? Blame Plastic

And on the Eighth Day, God Created Aliens

Bill Clinton Urges Senate Dems to Support Health Care Reform

Victims and Survivors Honored at Fort Hood Memorial Service

North and South Korean Navy Boats Clash at Sea

On Reflection, Pigs Are Smart

‘Sesame Street’ Turns 40

‘Daily Show’: The Men Who Stare at Votes

Lieberman Jumps to Conclusions About Fort Hood Shooting

Goldman Sachs Becomes ‘SNL’ Punchline

Emma Thompson, Petition Tourist?

Marion Barry Does Reality TV

Steve Fraser on the Crisis of Capitalism
By Steve Fraser

Ni Hao, Mickey Mouse: Disney Goes to Shanghai

Financial Meltdown 101

A Dig compiled by the editors of Truthdig

Vetting Sarah Palin

A Dig compiled by the editors of Truthdig

The Business of America (Paths for the Twenty-First Century)

By Saul Landau
$34.95

Starbucks Going From Venti to Grande

chasingthecool.wordpress.com

Fine, so the headline was a bit much, but this was one time we didn’t mind saying venti instead of large: Turns out that even the top bananas at Starbucks finally realized that they’ve overextended themselves, and due to the sagging economy, they’re closing 600 U.S. retail locations. Great—so that means there’ll be only eight Starbucks stores on every block instead of nine.

Seattle Post-Intelligencer:

Seventy percent of the stores slated for closure had opened after the start of 2006, the company said in a statement.

To put it another way, Starbucks is closing 19 percent of all U.S. company-operated stores that opened in the last two years, Chief Financial Officer Pete Bocian said during a conference call.

About 12,000 workers, or 7 percent of Starbucks’ global work force, will be affected by the closings, which are expected to take place between late July and the middle of 2009, spokeswoman Valerie O’Neil said.

O’Neil said most employees will be moved to nearby stores, but she did not know exactly how many jobs will be lost. Starbucks estimated $8 million in severance costs.

Read more

More Below the Ad

Advertisement

TAGS: coffee company economy gas prices market recession retail seattle starbucks store

Related Entries

November 10, 2009 The Man Who Put the Rainbow in ‘The Wizard of Oz’
November 8, 2009 Kucinich: Why I Voted No
November 7, 2009 The Real Unemployment Number: 17.5%
November 6, 2009 Unemployment Breaks the 10% Barrier
November 6, 2009 Steve Fraser on the Crisis of Capitalism

Email to a friend

Get truth delivered to
your inbox every week.

Previous item: Obama Heads to the Right

Next item: Nuclear Treaty Turns 40

Elsewhere: .

Comments

Are you a Truthdig member yet? Login now, or register with Truthdig.

By rick, July 2, 2008 at 2:53 pm #
(Unregistered commenter)

Perhaps Starbucks management was a little hyped up on their own product when they thought it was intelligent to open so many stores in the first place!

There are 4 Starbucks alone in my relatively small town. WTF. Anyone with an undergraduate’s understanding of business would have seen that was overkill.

Report this

By squarestate, July 2, 2008 at 12:43 am #
(Unregistered commenter)

A year or two ago, Lewis Black had a great bit on The Daily Show about being somewhere and stopping for a coffee at Starbucks, and coming out the door across the parking lot was .. another Starbucks! For the people to tired to walk another 50 yards for a cup of java. Maybe they should put Lewis on their management team.

Report this