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With Starbucks stock plummeting – it lost half its value in the past 15 months – C.E.O. Howard Schultz spent yesterday reassuring thousands of anxious shareholders that everything would soon be right as rain, once some new changes “restore an authentic coffeehouse experience to the company’s stores,” as the Times puts it. It’s fun to watch corporations trying to “restore” authenticity, like when elderly bluebloods try dressing “casually” in their creased blue jeans.
The behemoth has to fight a battle on two fronts, because they’re simultaneously losing budget-conscious customers in markets hit hardest by the subprime mortgage crisis, while also losing more affluent customers to the high-quality espresso trend that's caught on in some regions. Since returning as C.E.O. three months ago, Schultz has announced 600 layoffs and closed 100 of the least profitable stores in the U.S. Meanwhile, Starbucks' music endeavors – which started so auspiciously in '94 with an album by Kenny G – are faltering.
Yesterday Schultz officially announced the acquisition of the company that makes the Clover coffee brewing machine, which Starbucks’ up-market competitors have been using to great effect, like Williamsburg’s El Beit. Starbucks will be trying out the Clover in “select markets” this year. Other changes to stop the hemorrhaging include:
- A cool new online community, MyStarbucksIdea.com, which features a corporate weblog, or “blog.” Customers can also make suggestions and chat with real Starbucks employees!
- Baristas will now refresh the coffee in urns every 30 minutes. (It currently sits there for up to two hours.)
- A new blend called Pike Place Roast, named for the location of the first Starbucks store.
- A partnership with Conservation International to certify environmentally sustainable whole bean espresso products.
- Each Starbucks restroom will feature another Starbucks conveniently located by the toilet.
Photo of Howard Schultz: sillygwailo
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"(It currently sits there for up to two hours.)"
I mean, come on, is this really shocking?
which features a corporate weblog, or “blog.”
What is this 'blog' of which you speak?
I hear one can find a "blog" on the "Information Superhighway." :D
Crazy idea: lower prices.
Crazier idea: more comfortable chairs.
craziest idea: organic and fair trade.
what's a starbucks?
Craziest idea: stop worrying about restoring "coffee house atmosphere" and worry about the fact that you can't find a Starbucks without a goddamn 30 foot line anywhere. When you just want to get a coffee and go, and you have to wait twenty-five minutes behind everyone who's ordering frappucinos and caramel macchiatos and breakfast sandwiches, it's really annoying.
DIE STARBUCKS, DIE!!!!!!!!
Starbucks never has, and never will have a coffee house type atmosphere.
Best idea: Go away and take Dunkin Donuts with you. And make all these companies pay to clean up the drinking water that has been contaminated with pissed out caffeine.
It's still Starbucks.
crazy idea: why don't you just serve coffee and STFU with the rest of your great ideas about trying to "restore an authentic coffeehouse experience to the company’s stores" - 'cause even your shareholders are smart enough to know that means absolutely nothing.
crazy idea: why don't you just serve coffee and STFU with the rest of your great ideas about trying to "restore an authentic coffeehouse experience to the company’s stores" - 'cause even your shareholders are smart enough to know that means absolutely nothing.
As a new shareholder (16.95!!), I am eager to hear. I'm sure the people who bough it at $35 are even more eager.
I'd like to handle their disposition
The "I must be outta my freakin' mind" idea:
A new blend, "large coffee".
Charge $0.75
Serve it in less than 45 seconds.
Starbucks is pricey, and their coffee a matter of taste, but I don't think it's as bad as it's being made out to be.
The public service they provide by having an accessible restroom makes them much better than bank branches or drug stores if you ask me. It's also a pretty convenient place to meet up with someone.
Selling a CD by Kenny G.
Selling a CD by Kenny G.
Selling a freaking CD by freaking Kenny G.
What were they thinking?
also starbucks ain't pricey.
black small coffee 1.82
i get it almost every morning.
TWO HOURS‽‽
The coffee shop where I used to work would be on my ass if I left the coffee in the urn for more than 30 minutes, and you could definitely tell the difference between, say, a 5-minute coffee and a 30-minute coffee. I shudder to think what a two-hour coffee would taste like. Thank god I don't go to Starbucks often.
Crazy idea: merge with Duane Reade and a bank like Chase.
I hate these gavones! How did we miss out on this? Fuckin' expresso, cappuccino. We Italians invented this shit and all these other cocksuckers are gettin' rich off it. And it's not just the money. It's a pride thing. All our food: pizza, calzone, buffalo moozarell', olive oil. These fucks had nothin'. They ate pootsie before we gave them the gift of our cuisine. But this, this is the worst this expresso shit from Starbucks.
@21: Brilliant.