Starbucks 4Q profit drops 97%

[w¡n9Nµ7 §£@¥€r 123]

Seattle-based Starbucks said profit in the quarter fell 97 percent to $5.4 million, or a penny a share, from $158.5 million, or 21 cents per share.

...

Analysts expected profit of 13 cents per share.

...

On a conference call with analysts, [Chief Executive Howard] Schultz said the company was doing what it needed to get back on track.

"The fourth quarter may have represented a bottoming-out milestone for our company," Schultz said.

http://biz.yahoo.com/ap/081110/earns_starbucks.html

[MrsCat 6]

My brother in law works at the head office in Seattle, and took a serious pay-cut to remain employed a couple of months ago. He also had to take on two roles to stay "valuable" to the organization.

[w¡n9Nµ7 §£@¥€r 123]

My brother in law works at the head office in Seattle, and took a serious pay-cut to remain employed a couple of months ago. He also had to take on two roles to stay "valuable" to the organization.

It's nice of corporate to offer the option.

[William33 110]

Starbucks sux... With way overpriced, over roasted and totally inconsistent product. No loss to the consumer, sorry for the job losses.

If you need good coffee, check out Whole Foods Market....Small batch, fresh roasted beans, from fair market trade countries. Indonesia, Columbia and Kenya included. What a treat for the coffee consumer!!!!

Find one near you: http://www.wholefoodsmarket.com/stores/all/index.php

Grind and brew it yourself, if you want a good value and a better product.....

Edited November 11, 2008 by William33

[MrsCat 6]

My brother in law works at the head office in Seattle, and took a serious pay-cut to remain employed a couple of months ago. He also had to take on two roles to stay "valuable" to the organization.

It's nice of corporate to offer the option.

I agree and I think he felt the same way, which is why he remained. He's got a good attitude about it - he sees it as an opportunity to learn another aspect of the business which will hopefully make him more valuable once things turn around.

Personally, I'd rather take a pay cut in the face of a lay off any day, so long as I was making enough to meet my obligations.

Starbucks sux... With way overpriced, over roasted and inconsistent product. No loss to the consumer, sorry for the job losses.

You need good coffee, check out Whole Foods Market....Small batch, fresh roasted beans, from fair market trade countries. Indonesia, Columbia and Kenya included. What a treat for the coffee consumer!!!!

Grind and brew it yourself, if you want a good value and better product.....

I'll send you some homegrown Kona brew. Locals take absolute pride in their beans here.

Personally, while in Canada, I became addicted to my House blend Grande at $2.10. I've finally detoxed it out of my system.

[William33 110]

I'll send you some homegrown Kona brew. Locals take absolute pride in their beans here.

Personally, while in Canada, I became addicted to my House blend Grande at $2.10. I've finally detoxed it out of my system.

Pure Kona, I dream of that. Even while spending significant time searching on several islands of Hawaii, I could not find pure Kona. Always a 20% Kona - 80% Columbian blend... Why is that?

[w¡n9Nµ7 §£@¥€r 123]

Personally, I'd rather take a pay cut in the face of a lay off any day, so long as I was making enough to meet my obligations.

Absolutely. I'd stay even if I wasn't making enough to meet my obligations. I'd rather make enough to meet some percentage less than 100% of my obligations than make nothing at all.

[William33 110]

Personally, I'd rather take a pay cut in the face of a lay off any day, so long as I was making enough to meet my obligations.

Absolutely. I'd stay even if I wasn't making enough to meet my obligations. I'd rather make enough to meet some percentage less than 100% of my obligations than make nothing at all.

Is this the litmus test of the workplace today? You would take a pay cut to retain your job? Seriously? I guess I have my head in the sand.....................

[w¡n9Nµ7 §£@¥€r 123]

Personally, I'd rather take a pay cut in the face of a lay off any day, so long as I was making enough to meet my obligations.

Absolutely. I'd stay even if I wasn't making enough to meet my obligations. I'd rather make enough to meet some percentage less than 100% of my obligations than make nothing at all.

Is this the litmus test of the workplace today? You would take a pay cut to retain your job? Seriously? I guess I have my head in the sand.....................

Not at my workplace. They culled a bunch of people last week, all senior staff. Not one of them was offered an opportunity to stay behind at a lower salary or with a demotion. I know because they told me that at least two laid off senior PMs would not have minded going back to a technical role (at lower pay) for the opportunity to stay.

So I think it's pretty cool that SBUX is giving its people an opp'ty to stay back at a renegotiated (lower) salary.

You would take a pay cut to retain your job? Seriously?

Oh and yes, I would. In a heartbeat. The job market is ####### right now, I'd likely end up taking a pay cut if I went outside anyway.

[IAMX 3,055]

Once my employer let me work from home I stopped getting my usual commute-time half-pumpkin spice half-chai creme frappuccino (1 pump vanilla). It was pure awesome. Now if I want my to-go drink it's usually Jamba Juice. They've been spreading like the plague around here.

[William33 110]

Personally, I'd rather take a pay cut in the face of a lay off any day, so long as I was making enough to meet my obligations.

Absolutely. I'd stay even if I wasn't making enough to meet my obligations. I'd rather make enough to meet some percentage less than 100% of my obligations than make nothing at all.

Is this the litmus test of the workplace today? You would take a pay cut to retain your job? Seriously? I guess I have my head in the sand.....................

Not at my workplace. They culled a bunch of people last week, all senior staff. Not one of them was offered an opportunity to stay behind at a lower salary or with a demotion. I know because they told me that at least two laid off senior PMs would not have minded going back to a technical role (at lower pay) for the opportunity to stay.

So I think it's pretty cool that SBUX is giving its people an opp'ty to stay back at a renegotiated (lower) salary.

You would take a pay cut to retain your job? Seriously?

Oh and yes, I would. In a heartbeat. The job market is ####### right now, I'd likely end up taking a pay cut if I went outside anyway.

IT correct? Well, that does explain some aspects of it. This is a volatile business line, driven by the market. I understand.

[w¡n9Nµ7 §£@¥€r 123]

Yeap, IT.

A good friend was laid off (also IT) from another large insurance company 3 weeks ago. So far not one call and not for lack of trying.

[William33 110]

I guess the market for certain jobs is bleak..... That is sad commentary. Hopefully Mr. Obama can shift the tide. We need that change, he did offer that you know.

[Amby 490]

Cat please mail me coffee. In trade, I will take care of the MIL.

[w¡n9Nµ7 §£@¥€r 123]

I guess the market for certain jobs is bleak..... That is sad commentary. Hopefully Mr. Obama can shift the tide. We need that change, he did offer that you know.

The kind of change a President can make happen is long-term. There's little he can do to return short-term confidence to upper management at my company so they reinstate canceled projects and refill RIF'd positions.