Now, this is weird gigantic coffee chain Starbucks
(SBUX:
sentiment,
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has long been the target of critics, who charge that the Seattle-based firm is corporate evil embodied. After all, the company has a reputation akin to that of Wal-Mart Stores (WMT) for pressuring Mom & Pop shops out of business. However, now that the chain has released details about 600 store closures, the Wall Street Journal reports that a new grass-roots campaign called "Save Our Starbucks" is aimed at keeping endangered SBUX locations afloat.
With the company's woes suddenly hitting close to home, fans of the store's frothy lattes have been circulating petitions and organizing online to try and preserve their local hubs and make that very local. One such fan, Kate Walker, said that the SBUX store inside her company's office building was a perk that will be dearly missed. "Knowing Starbucks, there's probably [another] one within a few blocks," she told the Journal. "But that's probably two blocks too far."
Despite the campaign's best efforts, Starbucks shares are continuing to drop (down 1% today, following a 30% year-to-date loss). And, in light of world events, the passion of these java activists seems tragically misplaced even irritatingly so. Should we be so concerned about "saving" a corporation that's made some highly questionable operating decisions? Isn't there some kind of war going on somewhere, or at least a genocide in Africa? Or can't they at least buy coffee somewhere else? I hear McDonald's (MCD) has some competitive new offerings...
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