Starbucks 2.0 (f/k/a Peet’s Coffee)

Do you remember when Starbucks coffee was “gourmet”?  Those days when it was a treat to go to one of their stores for a cup of delicious coffee or a frothy, delightful cappuccino?  Now there is a new kid on the block.  Actually, the kid has been around for a while, but like the plain girl who went through puberty and became beautiful, this store is just now becoming noticeable in its own right as a top coffee-chain.**

After enjoying a tasty double espresso from Joe The Art of Coffee at Grand Central yesterday (a review will be coming soon), I wandered back up to the office and settled in to listen to Peet’s Coffee’s webcast report of the company’s fourth quarter and year end results.  I had expected nothing but doom and gloom from the report, since Starbucks had taken such a hard hit, and consumer spending in general has fallen so dramatically.

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Gourmet Coffee in a Great Depression

A friend came to me the other day with a problem.  This friend, a musician, has been struggling.  He is in the middle of a 52 week project in which he writes, records, and produces one song a week.*  Unfortunately for my friend, like most musicians he is not yet famous, which means that on top of his 52 week project, he works another job.  This in turn means that my friend wants to drink coffee.  Lots of coffee.  But my friend struggles to find high quality, delicious coffee at a price he can afford.  His case is by no means extraordinary.  I have no doubt many of you struggle with the same thing; you work too much and you want to drink coffee all the time.  You may have free coffee at work, but what do you do in the morning?  Do you wait until you get into the office?  Do you . . . → Read More: Gourmet Coffee in a Great Depression