In January 2009 the stock of Starbucks was about $7, and today it’s in the mid-fifties, down a little from a few months ago. So how did they turn it around without a government stimulus package?
“The company cut costs when a serious recession hit the economy in 2008. Raises were slashed to a minimal amount, vacation and personal time was cut and the health plan was altered to require more out-of-pocket expenses on the part of employees. The company pushed product sales hard, requiring managers to more aggressively market retail items such as coffee mugs, coffee makers and ground coffee to their walk-in customers.
Recently, the company has made some changes to improve its compensation for management employees. Starbucks has maintained health-care coverage as well as a stock-option program, known as Bean Stock. The company has also increased its contributions to its 401(k) program a retirement savings plan that is available to hourly and salaried employees.”
Read more: The Average Salary of a Starbucks Store Manager | eHow.com http://www.ehow.com/about_7486618_average-salary-starbucks-store-manager.html#ixzz2MIILv2l9
Sadly, no one in this administration and very few in Congress have business experience, and when they get to Washington it’s like having play money to spend.
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