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News Byte: Starbucks to cut as many as 12,000 positions

Tuesday, July 1, 2008

Wow!
Starbucks Corp (NasdaqGS:SBUX - News) said on Tuesday it plans to close another 500 underperforming stores and eliminate as many as 12,000 fill- and part-time positions.

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Market Read for 7/1/2008

Tuesday, July 1, 2008

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Given the developments in Japan (see the newsbyte posted just prior)—I expect RIO and RTP (main supplies of iron ore in the world) to do well tomorrow. Steel may go down as when raw materials go up in price, the finished good providers first have to eat their margins. Lets see how this pans out. [...]

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