Thursday, May 04, 2006

Outrageous Corporate Profits

SEATTLE (AP) -- Starbucks Corp. reported Wednesday that its fiscal second-quarter profit rose 27 percent, citing brisk customer demand for its coffee drinks, a strong showing for green tea beverages and its ever-growing footprint of stores.

For the 13 weeks ended April 2, the Seattle-based coffee retailer posted net earnings of $127 million, or 16 cents per share, up from $100 million, or 12 cents a share, in the same period a year earlier. Revenue for the latest quarter increased to $1.89 billion from $1.52 billion last year.

These fat cats with their lattes and their mocha frappa grande whatevers, this is an excessive amount of profit. Not to mention how they exploit the earth to obtain their product.

Big Coffee should be allowed to make a reasonable profit, but not something so outrageous as 27 percent.

Working people are struggling to pay for this.

Hell, coffee must be upwards of $32 a gallon!

We should demand a windfall profits tax!

Right?

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