Thursday, July 31, 2008

5764: Coffee Breakdown.

Grande problems in a MultiCultClassics Monologue…

• Starbucks’ struggles are escalating, with fiscal 3Q net losses at $6.7 million—versus a $158 million profit a year ago. “We continue to battle the perfect storm of this economy,” said CEO Howard Schultz. “Until the economy significantly improves, we’re just trying to do what we can to get through this storm.” Hey, maybe they should open Starbucks at unemployment offices, where people are already used to waiting in long lines.

• General Motors plans to cut 5,100 jobs by November, equaling 15 percent of its U.S. and Canadian salaried workers. Note to exiting workers with entrepreneurial spirits: Don’t open a Starbucks.

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