By:  Lynn Green

Starbucks is in financial trouble and Circuit City has filed bankruptcy. Our nation is in trouble and thank GOD the Bush people are out and change is coming in!

Starbucks began shutting the U.S. and Australian stores this summer as part of its nearly yearlong campaign to reverse slowing sales and falling profits at the company. Besides closing the stores, Starbucks has cut more than 1,000 positions — many of which were unfilled — and introduced a slew of new products, including Vivanno smoothie drinks and breakfast pastries.

The company also replaced aging espresso makers, launched new single-cup Clover brewing machines in some markets, retrained baristas and began a loyalty card program to offer customers more value for their cup.

But all the changes did little to boost sales in the fourth quarter, particularly in the U.S, where the turmoil in the economy took a gulp out of consumer spending.

Revenue rose 3 percent to $2.52 billion from $2.44 billion. Analysts expected sales of $2.58 billion. Same-store sales, or sales at locations open at least a year, dropped 8 percent in the U.S. as fewer customers came into the stores. Those that did also spent less, the company said. Same-store sales were flat overseas. SOURCE

I also reported on Starbucks HERE

   In more sad financial news, Circuit City has filed for chapter 11 bankruptcy. The stores closing are listed HERE