Open season on Starbucks, remove the weak to help keep the herd strong.
Starbucks Profits collapsed 97 per cent in the fourth quarter, after the coffee chain was forced to ‘Deal’ with the effect of weakening demand and the cost of closing stores earlier this year.
Shares in the Seattle-based group sank 3% in after hours trading to $9.91 each. Two years ago, the stock fetched $38.41. Be honest….who has starbucks stock?? We all have spent too much money there as it is, don’t ever add Starbucks to your portfolio.
It had too many stores in some areas and ousted its chief executive. Profit for the last three months of the year fell to $5.4 million, compared with $158.5 million for the same period the year before.
It has been a tough year for the company. Last week, Peter Bocian, its Chief Financial Officer, who as with the company for less than two years, said he would be leaving at the end of the month to take a job with computer maker Hewlett-Packard.
I just bought a $5000.00 widescreen
…what about my Circuit City extended warranty?…Hmmm?
There are questions about how the Chapter 11 filing will impact the sale of big-ticket items, such as a TV’s…..like my TV……you know….the $5000.00 TV….
What about my MY TV???….sorry…
Circuit City is Toast….There are service-related issues that customers will need to think through.
If you’ve bought electronics from Circuit City, Best Buy, Sears, or practically any other chain retailer, you are no doubt familiar with the post-warranty insurance and service policies that staff attempt to tack onto every sale. They are an extra revenue stream for retailers, and can be very profitable. To a lot of people, they also provide piece of mind — what if that $5,000 Crystal plasma HDTV goes on the fritz on the 25th day?..Hmmm?
But the country is in the midst of a terrible financial crisis. All Hail the Bailout…..gag.. What if the restructuring is not successful, and Circuit City shuts its doors before the warranties’ terms have ended?
Circuit City’s FAQ suggests there will be no problems:
‘We have made no changes to our Circuit City Advantage Protection Plans. In fact, our Circuit City Advantage Protection Plans are insured by third-party financial institutions, so consumers can be confident their plans will be in effect based on the terms of the contracts’
I am Not convinced.
Olbermann Signs New Deal with DNCNBC
On Monday, DNCNBC announced that Keith Olberkook has inked a deal to spew four more years of Tired lefty talking points on the air. The deal comes only halfway through Olberkook’s existing four year stinker, and is reported to be worth more than $7.5 million per year….do I sound bitter?
His program, Countdown, has made audiences catatonic with his mis-spoken views against the Bush administration. He has sucked the life out of the news network that has been boring us for years. I’m wondering who Olbermann will focus on now that Bush is leaving office, and I assume he will continue to point out the flaws in both parties’ policies, and continue to be the bastion of honesty in the media rank and file………baaarrrffffff….
“Keith Olbermann is at the core of DNCNBC’s current success,” said Phil Griffin, DNCNBC’s president. In addition to his chair at Countdown, Olbermann will begin covering major news events, and will continue to co-host Football Night in America.
Arrrrrggggg…..Remember…My threads are always OPEN