Grinding out the news in a MultiCultClassics Monologue…
• Starbucks drained 600 jobs from its workforce of over 170,000. “We realize that we are operating in an intensely challenging environment, one in which our customers and (employees) have extremely high expectations of Starbucks,” wrote honcho Howrad Schultz in an email. “And we have to step up to the challenge of being strategic as well as nimble as our business evolves. Unfortunately, we have not been organized in a manner that allowed us to have a laser focus on the customer.” As if these job cuts will reduce customers’ wait in line for an over-priced latte.
• JC Penney reported a nearly 10 percent drop in profits for 4Q 2007, although officials blamed it on the poor economy. The retailer probably argues JC Penney can still clothe a family of four for less than a cup of latte at Starbucks.
• Snoop Dogg was busted for smoking marijuana again. “He did not get arrested. He received a ticket for possession of marijuana,” said Dogg’s lawyer. “We are contesting the ticket.” What is this lawyer smoking?
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