Wednesday, September 19, 2007

Howard Schultz, Starbucks CEO Dropped off this year



Starbucks shares are off 32% over the past year as the gourmet coffee chain struggles to maintain strong same-store sales growth. That performance has cost Schultz, who owns 17.7 million shares as of the latest filing, about $229 million. To reverse course, he's banking on more overseas stores and an expanded product line that includes coffee-chocolate drinks. Schultz isn't even universally beloved in his home base of Seattle anymore--his 2006 sale of the NBA's Supersonics has some speculating the team will abandon the area for Oklahoma City.




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