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thewayneFirst, Citibank! Somehow the company(ies) that process Citibank transactions for 7-11 quickie stores got compromised, resulting in huge amounts of money being stolen. Citibank is covering their customer's losses, and arrests have been made.
But the thefts are continuing!
It's going to be interesting to see how this turns out. I've been reading about it on various sources now for a couple of weeks. Wired.com also has a lot of coverage on it.
http://news.yahoo.com/s/ap/20080701/ap_on_hi_te/tec_atm_breach
Next, Circuit City & Blockbuster! Circuit City has been in trouble, Best Buy has been eating their lunch. Also their breakfast and dinner. In rode the video rental company Blockbuster to buy them out! Hurrah for them! Alas, today Blockbuster said it was pulling out of the deal as the economy has tanked since the initial meetings and it is no longer sensible for BB to buy CC.
Sucks to be them.
http://biz.yahoo.com/ap/080701/blockbuster_circuit_city.html
And finally, everyone's favorite coffee that is only slightly more expensive than gasoline (but not on a per gallon basis), Starbucks! They've been expanding at a ridiculous, if not insane, rate for the last many years, and it looks like the economy may have caught up with them. When a gallon of gas costs as much as a venti mocha soy-whip no foam something, then you're going to reevaluate what is a luxury and what is a neccessity, and there's a good chance that Starbuck's is going to be on the losing end of that equation.
"...Starbucks Corp. announced Tuesday it will close 600 company-operated stores in the next year, as the faltering U.S. economy hastened the pain caused by the company's own rapid expansion.
Starbucks did not say which stores will be closed, only that they are spread throughout the country. But it did say 70 percent of those slated for closure had opened after the start of 2006.
To put it another way, Starbucks is closing 19 percent of all U.S. company-operated stores that opened in the last two years, Chief Financial Officer Pete Bocian said during a conference call.
About 12,000 workers, or 7 percent of Starbucks' global work force, will be affected by the closings, which are expected to take place between late July and the middle of 2009..."
Ouch! I wonder how Dunkin' Donuts is doing? I'm not really a coffee drinker, but there's LOTS of people who like being able to walk into a coffee shop and order a cup of coffee, and the only decision is the size and whether or not it's decaf. And I've never much cared for Starbuck's pastries, I'd much rather have a Dunkin' Donut.
http://biz.yahoo.com/ap/080701/starbucks_closings.html
But the thefts are continuing!
It's going to be interesting to see how this turns out. I've been reading about it on various sources now for a couple of weeks. Wired.com also has a lot of coverage on it.
http://news.yahoo.com/s/ap/20080701/ap_on_hi_te/tec_atm_breach
Next, Circuit City & Blockbuster! Circuit City has been in trouble, Best Buy has been eating their lunch. Also their breakfast and dinner. In rode the video rental company Blockbuster to buy them out! Hurrah for them! Alas, today Blockbuster said it was pulling out of the deal as the economy has tanked since the initial meetings and it is no longer sensible for BB to buy CC.
Sucks to be them.
http://biz.yahoo.com/ap/080701/blockbuster_circuit_city.html
And finally, everyone's favorite coffee that is only slightly more expensive than gasoline (but not on a per gallon basis), Starbucks! They've been expanding at a ridiculous, if not insane, rate for the last many years, and it looks like the economy may have caught up with them. When a gallon of gas costs as much as a venti mocha soy-whip no foam something, then you're going to reevaluate what is a luxury and what is a neccessity, and there's a good chance that Starbuck's is going to be on the losing end of that equation.
"...Starbucks Corp. announced Tuesday it will close 600 company-operated stores in the next year, as the faltering U.S. economy hastened the pain caused by the company's own rapid expansion.
Starbucks did not say which stores will be closed, only that they are spread throughout the country. But it did say 70 percent of those slated for closure had opened after the start of 2006.
To put it another way, Starbucks is closing 19 percent of all U.S. company-operated stores that opened in the last two years, Chief Financial Officer Pete Bocian said during a conference call.
About 12,000 workers, or 7 percent of Starbucks' global work force, will be affected by the closings, which are expected to take place between late July and the middle of 2009..."
Ouch! I wonder how Dunkin' Donuts is doing? I'm not really a coffee drinker, but there's LOTS of people who like being able to walk into a coffee shop and order a cup of coffee, and the only decision is the size and whether or not it's decaf. And I've never much cared for Starbuck's pastries, I'd much rather have a Dunkin' Donut.
http://biz.yahoo.com/ap/080701/starbucks_closings.html
