I am have written a little about my coffee habits in the past.
Now, let me note that in the world of coffee, Starbucks is cutting 6,700 jobs and closing 300 stores after reporting first-quarter profits that fell more than expected.
What? A serious economic recession has had a negative impact on a place that sells $4.00 coffees?
Yes, it is true.
But Starbucks being Starbucks, they are teaching by doing.
If crashing economic troubles means fewer jobs for Starbucks employees at their 16,8145 stores in the U.S. and 61 in Australia, then it will not be a burden only shared at the bottom.
And so Starbucks CEO Howard Schultz has asked the board to cut his annual base pay from $1.2 million (last year) to less than $10,000, or the minimum required to maintain benefits for him and his family.
Imagine if the top managers of Ford, Chevrolet, Toyota, Honda and Chrysler did that? Or if the tops managers at Citibank, Wells -Fargo, and Bank of America followed suit?