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Starbucks CEO: Hedge Funds, Speculators to Blame for High Coffee Prices | |
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April 28, 2011 Starbucks, the world's largest coffee chain, got a shot in the arm this week, reporting a 20% rise in second quarter profits. However, higher commodity costs are expected to take a bite out of earnings in 2011. New York coffee prices hit a 34-year high of $3/pound on Thursday. CNBC's Christine Tan caught up with the billionaire founder and CEO Howard Schultz in Shanghai for his take on rising coffee prices. Source: http://www.cnbc.com/id/42810655?__source=RSS*tag*&par=RSS |
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