Who would have wanted to be in Starbucks‘ shoes a year ago? McDonald’s had launched low priced alternatives that had huge trial, the economy had stalled and consumers were balking at spending $4 per drink, even at a familiar place. Howard Schultz announced that the company had “lost its way,” becoming too standard and corporate and less entrepreneurial, less like a local coffee shop. The chain then closed stores on a broad scale for the first time. Would Starbucks even be around in 3 years, or would it take its place among the dearly departed, driven by the tough economy?
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