Quote:

We have three in our hick town. Once something hip makes it down here you can bet it's a bust.



Sounds like they agree...

Starbucks Plans Changes Amid "Economic Tailspin"

SEATTLE (Reuters) - Starbucks Corp <SBUX.O>, battling to revive U.S. growth in an economy that is in a "tailspin" plans to roll out a line of energy, health and wellness products, Chief Executive Howard Schultz said on Wednesday.

Schultz, recently returned to the CEO position, promised shareholders at the annual meeting to transform the company, whose stock has dropped 40 percent over the last 12 months, but he said there was no "silver bullet."

"You have an economy that is really in a tailspin," he said, adding that Starbucks would not use that as an excuse.

Starbucks will continue to be a growth company, Schultz said, adding that it will delve into new categories, such as the health and wellness business, by the end of the year.

The company showed off new espresso equipment that will debut in 30 percent of U.S. stores by the end of this year and 70 percent by the end of 2010.

"I humbly recognize and share both your concern and your disappointment in how the company has performed and how that has affected your investment in Starbucks," Schultz told investors. "I promise you this will not stand."

But cash-strapped consumers are cutting back on Starbucks $3 to $5 coffee drinks as the costs of gasoline and other essentials rise.

Competitors also are nibbling away at different segments of the $25 billion-plus U.S. specialty coffee market that Starbucks carved out.

In particular, McDonald's Corp <MCD.N> has aggressively entered the drip coffee market and plans to roll out more expensive espresso drinks including lattes and cappuccino.

SOURCE

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For the record, there are eight that I know of within three blocks of the NY Stock Exchange. Possibly more.