One year ago, when the political push to raise the minimum wage hit a crescendo, the CEO of Starbucks had some words of caution. Howard Schultz told CNN that minimum wage “should go up across the country”, however he warned that “it will be very difficult for small business in the country at a $15 level to pay those kinds of wages.” What about for his own company? “For Starbucks come January 1 we are taking wages up across the country and we will pay above the minimum wage in every state we operate. Starbucks is way above the minimum wage. I have always looked at total compensation.”
His conclusion: “I have always believed that our success as a company is best shared.”
One year later, something “unexpected” has happened as a result of the Schultz’ all too eager push to “share” his company’s success by hiking minimum wages, namely the realization by the company’s employees (if not so much the CEO, management and certainly shareholders) that total compensation is a function of two things: hourly wages and number of hours worked.
As Reuters reports, an online petition accusing Starbucks of “extreme” cutbacks in work hours at its U.S. cafes, hurting both employee morale and customer service, has been signed by more than 9,000 people. Suddenly Starbucks’ eagerness to raise its wages becomes all too clear: after all, it would merely have to reduce work hours, to keep profitability humming. Continue reading »
US coffeehouse chain Starbucks has $1.2 billion of customers’ cash stored on company cards and mobile apps in the first quarter this year, according to S&P Global Market Intelligence.
Using apps and cards Starbucks customers can purchase items including drinks, food and other merchandise without cash.
— Theo Priestley (@ITredux) June 10, 2016
The company reported that in the second quarter 41 percent of transactions in the US and Canada are conducted using Starbucks cards with 24 percent of purchases paid via mobile apps. The corporation has gained 12 million active loyalty members in the US from April through June. Continue reading »
– 9 Reasons to Avoid Starbucks’ Fake Pumpkin Latte (Natural Society, Oct 4, 2014):
Starbucks Pumpkin lattes have been selling like hotcakes. In fact, Starbucks CEO Howard Schultz recently said that pumpkin lattes ‘still rank as its most popular seasonal beverage.” Starbucks’ Chief Financial Officer Troy Alstead confided,”We are continually, frankly, even amazed internally at its ability to keep driving its proposition, comping over itself every year.”
In fact, Starbucks has sold more than 200 million pumpkin lattes to date. But are the lattes made with high quality ingredients? Are they even remotely healthy? Unfortunately, you need to be a food detective to figure out the answer to those questions. The coffee kingpin refuses to post its drinks’ ingredients list online; they only post their food ingredients.
Let’s take a moment to look under the hood and examine the actual ingredients that go into Starbuck’s bestselling, cult favorite, Pumpkin Spice Latte. Continue reading »
In today’s most underreported news of the day, which could potentially have the biggest impact on the future of America, none other than America’s CEOs, or at least one of them: Starbucks’ Howard Schultz, has mass blasted an email to fellow CEOs asking for a consensual boycott on donating to political campaigns in order to encourage the nation’s muppets, elsewhere idiotically called “leaders”, to solve America’s budget and debt impasse. Bloomberg quotes from the CEO’s e-mail to business leaders: “I am asking that all of us forego political contributions until the Congress and the President return to Washington and deliver a fiscally disciplined long-term debt and deficit plan to the American people.“ Cue panic, terror, homicidal and suicidal screeching, and overall sheer existential angst in D.C., whose critters suddenly face the nightmare scenario of having no corporate bribes, period, until they get to do their job.
Seattle-based Starbucks said profit in the fourth quarter fell 97 percent to $5.4 million, or a penny a share, from $158.5 million, or 21 cents per share.
(Johnny Green/PA Wire/AP Photo)
Fewer U.S. customers and venti-sized costs for closing poorly performing stores led to lower sales and profit in the fourth quarter at Starbucks Corp., the company said Monday.
The quarter’s results came at the end of a transition year for the coffee retailer, in which former Chief Executive Howard Schultz took back the reins of the company to again fill the CEO and chairman posts.
Seattle-based Starbucks said profit in the quarter fell 97 percent to $5.4 million, or a penny a share, from $158.5 million, or 21 cents per share. The coffee retailer earned 10 cents per share when the costs from closing about 600 stores in the U.S. and 61 locations in Australia are excluded.
Investors are fleeing from the U.S. stock market, Sending the Dow to Worst June Since Depression, looking for places to secure their wealth.
There is an unprecedented cash flow of ‘hot money’, which is usually defined as short-term global speculative funds moving among financial markets in search of the highest short-term return, moving into China:
Is China flooded with ‘hot money’ because of an expected meltdown in the U.S.?
Let’s further examine the prospects that we would experience a total crash of the entire financial system:
We have seen the Dow suffering it’s worst 1st half since ‘70 accompanied by a lot of bad news for the economy like:
– US: Big Trouble for General Motors, Crysler and Ford
– America’s Aviation System About To Collapse
– Starbucks to cut as many as 12,000 positions
And now the corporations are cheating you at the supermarkets: America’s Shrinking Groceries
The Dollar is being destroyed by the Federal Reserve, which has created in the last three years 4 Trillion Dollars of new money out of thin air: Ron Paul on Iran and Energy June 26, 2008
Ron Paul is further warning that: This coming crisis is bigger than the world has ever experienced
and that: We are at the beginning of a huge Dollar bubble.
The US Federal Reserve intentionally created inflation and that is why its credibility has fallen “below zero” and that is why Barclays warns of a financial storm as Federal Reserve’s credibility crumbles.
More dire warnings:
– RBS issues global stock and credit crash alert
– Morgan Stanley warns of ‘catastrophic event’ as ECB fights Federal Reserve
– Central bank body warns of Great Depression
– Credit crisis expands, hitting all kinds of consumer loans
– How Low Can The Dollar Go? Zero Value
Investors like Jim Rogers are telling us to “Avoid The Dollar At All Costs” and have told us that the Federal Reserve will fail and that Bernanke should be fired (alhough that isn’t possible because of his contract), because he has created the worst recession in the end and thats why he said: “Abolish the FED” on CNBC 2008.03.12.
The Fed is only doing good for the big corporations on Wall Street. If you would continuously come close to bankruptcy, because you have irresponsibly wasted your money, who will continuously give you billions of Dollars and bail you out, because you might fail? So I agree totally with Marc Faber: ‘Misleading’ Fed Should Let Banks Fail.
Well those corporations are said to be to “Big to Fail”, but they eventually will fail, because the entire system will fail and the Dollar is being destroyed in the process and so the people will end up with nothing, because their life savings are worthless paper. You are already paying the price for this policy, but maybe you haven’t looked at it that way:
The Price Of Food: 2007 – 2008
What inflation really is, is a taxation on monetary assets. And guess who is paying for all of that?
I just love this video. A must see:
The Stock Market and the Monetary System are on the verge of collapse!
Tags: 9/11, Airlines, Bank Failure, Barclays, Ben Bernanke, Bubble, China, Citigroup, Condoleezza Rice, Constitution, Crash, Credit Crisis, Dennis Kucinich, Depression, Dick Cheney, Dollar, Donald Rumsfeld, Dow Jones, ECB, Fed, Federal Reserve, Food Prices, General Motors, George Bush, Gold, Government, Great Depression, Hyperinflationary Depression, IMF, Inflation, Iran, Meltdown, Monetary System, Morgan Stanley, Mortgage crisis, Mortgages, New World Order, Oil, Oil Prices, Pentagon, Ron Paul, Silver, Starbucks, Stock Market, U.S., Wall Street, War
July 2, 2008
Tags: Al-Qaeda, Al-Qaida, Bailout, Bankruptcy, Bubble, Bush administration, China, CIA, Congress, Constitution, Dollar, Fed, Federal Reserve, General Motors, George Bush, Government, Inflation, Iran, Israel, Military, Nuclear weapons, Oil, Oil Prices, Starbucks, U.S., Wall Street, War
LOS ANGELES (Reuters) – Starbucks Corp (SBUX.O) said on Tuesday it plans to close another 500 underperforming stores and eliminate as many as 12,000 fill- and part-time positions.
The company, which now plans to close a total of 600 underperforming stores, will take related charges totaling more than $325 million.
The majority of the stores will be closed by the end of the first half of its fiscal year ended September 2009, the company said.