Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminated

Discussion in 'The Red Room' started by DaleD, Jul 2, 2008.

Page 1 of 2
  1. DaleD

    DaleD Gone Dancin'

    Joined:
    Jun 5, 2008
    Messages:
    268
    Likes Received:
    139
    Trophy Points:
    0
    Ratings:
    +139
     
    DaleD, Jul 2, 2008
    #1
    • Agree Agree x 1
  2. Tamar Garish

    Tamar Garish Wanna Snuggle? Deceased Member

    Joined:
    Mar 27, 2004
    Messages:
    35,389
    Likes Received:
    22,614
    Trophy Points:
    83
    Gender:
    Female
    Occupation:
    Companion
    Location:
    TARDIS
    Ratings:
    +22,764
    Tamar Garish, Jul 2, 2008
    #2
  3. Azure

    Azure I could kick your ass

    Joined:
    Oct 24, 2007
    Messages:
    12,008
    Likes Received:
    4,385
    Trophy Points:
    83
    Ratings:
    +4,416
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    They make shitty coffee.

    Thats all. :bergman:
     
    Azure, Jul 2, 2008
    #3
    • Agree Agree x 9
  4. oldfella1962

    oldfella1962 the only real finish line

    Joined:
    Nov 28, 2004
    Messages:
    81,024
    Likes Received:
    21,726
    Trophy Points:
    83
    Gender:
    Male
    Occupation:
    HMIC
    Location:
    front and center
    Ratings:
    +29,959
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    They just (well a few months ago) expanded the Starbucks here in the hospital at Fort Gordon. I stop in occasionally.
     
    oldfella1962, Jul 2, 2008
    #4
  5. 14thDoctor

    14thDoctor Oi

    Joined:
    Mar 25, 2007
    Messages:
    31,076
    Likes Received:
    28,905
    Trophy Points:
    83
    Gender:
    Male
    Ratings:
    +48,041
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Apparently they're just going to close the corporate stores that aren't turning a profit, which isn't exactly a terrible plan.

    I think they realize the market is oversaturated with coffee places.
     
    14thDoctor, Jul 2, 2008
    #5
    • Agree Agree x 1
  6. Starguard

    Starguard Fresh Meat

    Joined:
    Nov 21, 2006
    Messages:
    7,402
    Likes Received:
    766
    Trophy Points:
    43
    Occupation:
    Electronic Engineering Technologist
    Location:
    Midwest
    Ratings:
    +766
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Thats Crazy. With all the coffee drinkers in the US, I don't see how they could be having financial problems. I know guys that drink at Starbucks, like Wino's drink at Taverns

    :drunkfriends:
     
    Starguard, Jul 2, 2008
    #6
  7. Azure

    Azure I could kick your ass

    Joined:
    Oct 24, 2007
    Messages:
    12,008
    Likes Received:
    4,385
    Trophy Points:
    83
    Ratings:
    +4,416
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    All 3 of you know about Tim Hortons too.

    No wonder you think Starbucks sucks. :D
     
    Azure, Jul 2, 2008
    #7
    • Agree Agree x 1
  8. We Are Borg

    We Are Borg Republican Democrat

    Joined:
    Mar 28, 2004
    Messages:
    21,601
    Likes Received:
    22,199
    Trophy Points:
    83
    Location:
    Canada
    Ratings:
    +36,672
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Fuck Starbucks!

    They're evil and they serve battery acid for coffee.

    Plus, I just want to punch the unemployed hippie iMac-using posers who sit in their cafes all day drinking non-fat soy grande latte mochacrappacinos and acting like they're hip.
     
    We Are Borg, Jul 2, 2008
    #8
    • Agree Agree x 4
  9. 14thDoctor

    14thDoctor Oi

    Joined:
    Mar 25, 2007
    Messages:
    31,076
    Likes Received:
    28,905
    Trophy Points:
    83
    Gender:
    Male
    Ratings:
    +48,041
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    McDonalds coffee is also good, if it's not been sitting there all day. :yes:
     
    14thDoctor, Jul 2, 2008
    #9
    • Agree Agree x 1
  10. evenflow

    evenflow Lofty Administrator

    Joined:
    Mar 27, 2004
    Messages:
    25,051
    Likes Received:
    20,324
    Trophy Points:
    83
    Location:
    Where the skies are not cloudy all day
    Ratings:
    +20,614
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Meh, I don't care for coffee, but I do like Starbucks.

    Sue me.
     
    evenflow, Jul 2, 2008
    #10
    • Agree Agree x 2
  11. Yelling Bird

    Yelling Bird Probably a Dual

    Joined:
    Jan 9, 2008
    Messages:
    2,866
    Likes Received:
    2,361
    Trophy Points:
    83
    Ratings:
    +2,400
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat


    I'm not a big fan of Tim Horton's either. Bongo Java in Nashville is great. Toomer's Coffee Co. in Auburn is the Second Coming of Christ. :hail:
     
    Yelling Bird, Jul 2, 2008
    #11
    • Agree Agree x 1
  12. Azure

    Azure I could kick your ass

    Joined:
    Oct 24, 2007
    Messages:
    12,008
    Likes Received:
    4,385
    Trophy Points:
    83
    Ratings:
    +4,416
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    I'm not a 'huge' fan....but they're not bad.

    I've never been to Nashville dammit. :nuke:

    ;)
     
    Azure, Jul 2, 2008
    #12
    • Agree Agree x 1
  13. DaleD

    DaleD Gone Dancin'

    Joined:
    Jun 5, 2008
    Messages:
    268
    Likes Received:
    139
    Trophy Points:
    0
    Ratings:
    +139
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Peet's fans?

    Any Peet's fans in the thread?
     
    DaleD, Jul 2, 2008
    #13
  14. Bailey

    Bailey It's always Christmas Eve Super Moderator

    Joined:
    Apr 1, 2004
    Messages:
    27,155
    Likes Received:
    23,224
    Trophy Points:
    83
    Occupation:
    Level Designer - I make video games
    Location:
    Adelaide, South Australia
    Ratings:
    +39,782
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    They might force lots of other businesses out through having a more popular product, but at the same time they are incredibly good to their employees.
     
    Bailey, Jul 2, 2008
    #14
  15. We Are Borg

    We Are Borg Republican Democrat

    Joined:
    Mar 28, 2004
    Messages:
    21,601
    Likes Received:
    22,199
    Trophy Points:
    83
    Location:
    Canada
    Ratings:
    +36,672
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    [action=We Are Borg]points at Bailey and does the Invasion of the Body Snatchers scream[/action]
     
    We Are Borg, Jul 2, 2008
    #15
  16. evenflow

    evenflow Lofty Administrator

    Joined:
    Mar 27, 2004
    Messages:
    25,051
    Likes Received:
    20,324
    Trophy Points:
    83
    Location:
    Where the skies are not cloudy all day
    Ratings:
    +20,614
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Mmmmm, grande white chocolate mocha..... :drool:
     
    evenflow, Jul 2, 2008
    #16
    • Agree Agree x 1
  17. Liet

    Liet Dr. of Horribleness, Ph.D.

    Joined:
    Jan 11, 2008
    Messages:
    15,570
    Likes Received:
    10,621
    Trophy Points:
    63
    Location:
    Evil League of Evil Boardroom
    Ratings:
    +11,723
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    If you click on the interim statements and compare q2 2007 to q2 2008, you'll see what's going on. They've got a much thinner profit margin than over the same time a year ago. They went from profits of 6.7% or revenue to profits of 4.3% of revenue. That's a big turn for the worse. They show a particularly large depreciation cost the last couple of quarters, so I'm guessing real estate hasn't been kind to them.
     
    Liet, Jul 2, 2008
    #17
  18. Ancalagon

    Ancalagon Scalawag Administrator Formerly Important

    Joined:
    Mar 29, 2004
    Messages:
    51,572
    Likes Received:
    32,328
    Trophy Points:
    83
    Location:
    Downtown
    Ratings:
    +58,212
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Tim Horton's is better than Duncan Donuts, but few things are worse.



    It ain't got shit on Krispy Kreme though! :lol:
     
    Ancalagon, Jul 2, 2008
    #18
    • Agree Agree x 2
  19. Volpone

    Volpone Zombie Hunter

    Joined:
    Nov 10, 2004
    Messages:
    43,795
    Likes Received:
    15,334
    Trophy Points:
    83
    Location:
    Bigfoot country
    Ratings:
    +16,277
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Hmm... Intriguing...

    I have heard it as a truism for real estate speculating that Starbucks does some pretty sophisticated market research, so if you can find a fairly seedy neighborhood that just got a Starbucks, it is a pretty safe bet that property values are increasing.

    I wonder if Starbucks is a bit of a canary in the coal mine. Maybe not so much on housing values, but when you're paying over four bucks a gallon to keep your Cadillac Escalade running and trying to figure out how to make the mortgage payments on your McMansion, maybe you have to cut out your trip to Starbucks (interestingly enough to me, Starbucks coffee is significantly more expensive than gasoline--for hot water, strained through ground, dried beans).
     
    Volpone, Jul 2, 2008
    #19
  20. Liet

    Liet Dr. of Horribleness, Ph.D.

    Joined:
    Jan 11, 2008
    Messages:
    15,570
    Likes Received:
    10,621
    Trophy Points:
    63
    Location:
    Evil League of Evil Boardroom
    Ratings:
    +11,723
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    I'm sure there's truth there.

    Starbucks is absurdly expensive. Just comparing ground coffee to ground coffee, you can get better coffee in the vicinity of 15-20% of the price from CostCo. For a cup of coffee you're much better off with the diner or even the cafeteria at work. Starbucks is okay, but I never consider going there unless someone's given me a gift card. It's just a terrible value
     
    Liet, Jul 2, 2008
    #20
  21. KIRK1ADM

    KIRK1ADM Bored Being

    Joined:
    Apr 2, 2004
    Messages:
    20,200
    Likes Received:
    3,795
    Trophy Points:
    83
    Occupation:
    Business Owner
    Location:
    Calexico, Mexifornia
    Ratings:
    +3,798
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Well they were opening up all their stores gas wasn't almost $5 per gallon either.

    When it can cost a $5 for a cup of coffee, I think that can be one of the first things to go from someone's budget when they are having to pay more at the pump, the grocery stores and etc.
     
    KIRK1ADM, Jul 2, 2008
    #21
  22. Tex

    Tex Forge or die. Administrator Formerly Important

    Joined:
    Aug 13, 2005
    Messages:
    17,627
    Likes Received:
    117,355
    Trophy Points:
    1,083
    Location:
    Austin, TX
    Ratings:
    +117,364
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    You know what would fix this? Higher corporate taxes.
     
    Tex, Jul 2, 2008
    #22
    • Agree Agree x 2
  23. KIRK1ADM

    KIRK1ADM Bored Being

    Joined:
    Apr 2, 2004
    Messages:
    20,200
    Likes Received:
    3,795
    Trophy Points:
    83
    Occupation:
    Business Owner
    Location:
    Calexico, Mexifornia
    Ratings:
    +3,798
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    How will that fix the problem? :unsure:
     
    KIRK1ADM, Jul 2, 2008
    #23
  24. Storm

    Storm Plausibly Undeniable

    Joined:
    Mar 30, 2004
    Messages:
    13,088
    Likes Received:
    2,047
    Trophy Points:
    82
    Ratings:
    +2,049
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat


    :techman:
     
    Storm, Jul 2, 2008
    #24
  25. Azure

    Azure I could kick your ass

    Joined:
    Oct 24, 2007
    Messages:
    12,008
    Likes Received:
    4,385
    Trophy Points:
    83
    Ratings:
    +4,416
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Duh.

    It will make Starbucks go bankrupt so nobody has to drink their vile coffee anymore.
     
    Azure, Jul 2, 2008
    #25
  26. Ramen

    Ramen Banned

    Joined:
    Mar 28, 2004
    Messages:
    26,115
    Likes Received:
    2
    Trophy Points:
    0
    Gender:
    Male
    Location:
    FL
    Ratings:
    +1,647
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    We could take most of the... unnecessary profits... from Starbucks and use it to subsidize the cost of a cup of coffee. The price will be lowered and more people will be able to afford Starbucks. They'll be able to re-expand their stores due to the higher profits that will be rolling...

    Huh.

    Well, anyway, what do I care about those millionaires drinking their fancy pants lattes? :shrug:
     
    Ramen, Jul 2, 2008
    #26
    • Agree Agree x 1
  27. KIRK1ADM

    KIRK1ADM Bored Being

    Joined:
    Apr 2, 2004
    Messages:
    20,200
    Likes Received:
    3,795
    Trophy Points:
    83
    Occupation:
    Business Owner
    Location:
    Calexico, Mexifornia
    Ratings:
    +3,798
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    :doh2:

    True... if it works with oil executives, it should work for coffee too.
     
    KIRK1ADM, Jul 3, 2008
    #27
    • Agree Agree x 1
  28. Zombie

    Zombie dead and loving it

    Joined:
    Mar 29, 2004
    Messages:
    45,044
    Likes Received:
    26,392
    Trophy Points:
    83
    Ratings:
    +33,117
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Well it doesn't help when one commodity is driving up the price of all the other commodities. Probably costs mega dollars now to move all those coffee beans to all those stores.
     
    Zombie, Jul 3, 2008
    #28
  29. Bulldog

    Bulldog Only Pawn in Game of Life

    Joined:
    Mar 29, 2004
    Messages:
    31,224
    Likes Received:
    6,361
    Trophy Points:
    83
    Gender:
    Male
    Occupation:
    Pastor and corporate research
    Location:
    State of Delmarva
    Ratings:
    +6,370
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Tim Horton's Coffee beats Starbucks like a rented mule.

    That is all. :bergman:
     
    Bulldog, Jul 3, 2008
    #29
    • Agree Agree x 1
  30. KIRK1ADM

    KIRK1ADM Bored Being

    Joined:
    Apr 2, 2004
    Messages:
    20,200
    Likes Received:
    3,795
    Trophy Points:
    83
    Occupation:
    Business Owner
    Location:
    Calexico, Mexifornia
    Ratings:
    +3,798
    Re: Economic Downturn Hits Starbucks: 600 Stores To Close, Up To 12,000 Jobs Eliminat

    Think about how much it costs to transport goods now a days from the manufacturer or shipper to the retailer or otherwise. If the truck has two 100 gallon tanks how is it costing to fill those tanks. Depending on the area in CA diesal is about $4.87 to $5.07 per gallon. Trucks get about 6 miles per gallon. Whan the majority of our good are brought in via truck itis no surprise that prices have increased so much.
     
    KIRK1ADM, Jul 3, 2008
    #30
Page 1 of 2