MARKETS
Nasdaq below 1,500 for first time in 5 years
Wall Street Journal Nov 12, 08 3:30 PM CST
(Newser)
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Stocks plunged again today as another wave of poor earning reports soured investor sentiment, the Wall Street Journal reports. Henry Paulson's announcement of yet another new direction for the federal bailout failed to inspire confidence as the Dow closed down 411.30 points at 8,283. The Nasdaq lost 81.69 points to close at 1,499, while the S&P 500 lost 46.65 points to settle at 852.
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MARKETS
Goldman report sends life insurance down
Wall Street Journal Nov 11, 08 3:40 PM CST
(Newser)
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Stocks declined today as poor earnings reports made investors bearish, the Wall Street Journal reports. Although news of the Fannie/Freddie plan to speed refinancing efforts for distressed homeowners checked midday losses, the Dow dropped 176.58 to close at 8,693.96. The Nasdaq dropped 35.84, settling at 1,580.90, and the S&P 500 fell 20.26 to close at 898.95.
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MARKET Open
Dow down triple digits again
Wall Street Journal Nov 11, 08 8:57 AM CST
(Newser)
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Stocks were trudging downward again this morning, as investors turned a pessimistic eye towards upcoming earnings reports. The Dow was off 217 points a half-hour into the session, while the Nasdaq and S&P traced 33- and 20-point declines of their own. Those declines mirrored moves overseas, with European benchmarks shedding 2% by midday, and Tokyo’s Nikkei falling 3%.
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Or coffee, doughnuts, ice cream as shops reward US voters
MSNBC Nov 3, 08 11:50 AM CST
(Newser)
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Joining a host of firms rewarding US voters, a sex-toy chain is giving out self-pleasuring devices to customers who have stopped at the polls, MSNBC reports. Men get “Maverick” sleeves: “He’s always there to lend a hand, he works for every man, and he bucks the status quo.” Women can take home “Silver Bullet” vibrators, “a great stress-reliever during these troubled economic times!”
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After drop in third quarter, coffee chain's sales improved in October
Wall Street Journal Oct 29, 08 6:14 PM CDT
(Newser)
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Starbucks' CEO says the company is percolating again and may have hit bottom in the quarter that ended in September, the Wall Street Journal reports. The chain again saw declining sales, says Howard Schultz, but he also noted a “slight improvement” in October. Starbucks has been shutting stores, and it plans to add loyalty cards to keep customers buzzed amid a spending slowdown.
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Dunkin' fires new salvo in coffee wars with blind taste tests
Seattle Post-Intelligencer Oct 22, 08 6:31 AM CDT
(Newser)
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Dunkin' Donuts is aiming to punch holes in Starbucks' share of the coffee market with an aggressive new ad campaign, the Seattle Post-Intelligencer reports. The ads portray Dunkin' Donuts coffee as being the choice of "hard-working Americans" and boast of having beaten Starbucks' house blend in blind taste tests. The Massachusetts-based chain has even launched a website for the campaign: dunkinbeatstarbucks.com.
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OPINION
Coffee empire's rise tracked (and fueled) housing's, and store locator mirrors trouble spots
Slate Oct 21, 08 3:48 PM CDT
(Newser)
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A simple tool could hold the key to predicting where the financial crisis will strike next, Daniel Gross writes on Slate: Starbucks’ Internet store locator. “Having a significant Starbucks presence is a pretty significant indicator of the degree of connectedness to the form of highly caffeinated, free-spending capitalism that got us into this mess.”
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Starbucks makes comfort food trendy
Advertising Age Oct 14, 08 7:40 PM CDT
(Newser)
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The mushy breakfast you pushed away as a child has become Starbucks' most successful food launch ever—knocking reduced-fat coffeecake to No. 2 on the best-sellers chart, Advertising Age reports. Oatmeal heads up a line of healthier breakfast options the chain introduced in September. The steamy offering, which comes with packets of brown sugar, nuts, and dried fruit, has been a surprise hit among women and "millennials."
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Firm vows change after tabloid claims chain uses 6.2M gallons daily
Seattle Post-Intelligencer Oct 10, 08 11:50 AM CDT
(Newser)
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Starbucks is abuzz as it tests new methods of spoon-cleaning, a reaction to a UK tabloid's report that the caffeine titan wastes 6.2 million gallons of water daily, the Seattle Post-Intelligencer reports. Every store leaves a tap running constantly, the Sun said; Starbucks confirmed the claim, explaining that the water was part of a “dipper well” system that sanitizes utensils.
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Opinion
Anti-capitalist fools celebrate as 12,600 lose their jobs
Spiked Aug 4, 08 5:07 PM CDT
(Newser)
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Starbucks is closing 600 stores in the US and 61 in Australia, and anti-capitalists everywhere are thrilled. Never mind 12,600 losing their jobs: It’s “a small price to pay if it means being able to walk one’s labradoodle … without having to see or smell a Starbucks,” Brendan O’Neill writes in Spiked, decrying the “socialism of fools,” more obsessed with symbols than people.
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Even 'healthier' options can be too hefty, would-be splurgers horrified to find
MSNBC Jul 17, 08 6:28 PM CDT
(Newser)
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As chain restaurants waddle their way toward compliance with a New York City law that requires them to post the calorie counts of food, the numbers behind the items have diners grappling with some unappetizing knowledge, MSNBC reports. The restaurant skinny is turning out to be anything but, from 630-calorie Dunkin' Donuts muffins to a pecan-crusted chicken salad at TGI Friday's, whose 1,360 calories trumped a burger and fries on the same menu.
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Starbucks hopes sweet new deals will combat sales slump
Seattle Post-Intelligencer Jul 10, 08 11:01 AM CDT
(Newser)
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While Congress worries about what to do for Americans squeezed by gas prices, Starbucks has its own ideas. To lure back people who are cutting pricey lattes out of the budget, new promotions are being launched around the country, writes the Seattle Post-Intelligencer.
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Chicago coffee maker nixes 20-ounce drinks, for flavor's sake
Chicago Tribune Jul 9, 08 3:18 PM CDT
(Newser)
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One purveyor of fine coffee is drawing a line in the sand: Come Aug. 1, Chicago brewer and distributor Intelligentsia will phase out its 20-ounce option—or venti, per Starbucks lingo, the Chicago Tribune reports. Brewing such a large cup dilutes the proportions necessary for maximum flavor, Intelligentsia's CEO says, resulting in a "a watered-down, Big Gulpish version.”
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Deposed giant makes room for local stores
Reuters Jul 6, 08 6:29 PM CDT
(Newser)
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As Starbucks' financial troubles percolate, not all java fiends are bemoaning the loss of the chain's talls, grandes, and ventis, reports Reuters. In fact, many are celebrating the java giant's downturn and throwing their support behind small independent cafes. Starbucks is set to close 600 stores and lay off 12,000 employees while local coffee shops are sprouting up nationwide.
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