Valleywag: howard schultz

Street View finally coming to Seattle

Jackson West — Mon, 16 Jun 2008 09:00:00 PDT

The Google Street View car was Spotted in Microsoft Country last week after launching in many smaller markets around the country first. Apparently the drivers, rather than use some fancy, newfangled Internet doohickey, simply burn the data captured by the rooftop camera array onto a CD and mail it back to Mountain View. The fact that Portland, Oregon and Juneau, Alaska were added to the list of Street View cities before Seattle inspired an April Fools article in local publication Naked Loon quoting a fictional Google spokesmonkey as saying the addition of Seattle was "extremely unlikely, save for some kind of highly localized disaster centered somewhere in Redmond."

My question is whether or not the car will be passing through the enclaves of wealth on the east side of Lake Washington like Mercer Island and Medina, where Microsoft chairman Bill Gates has his four-story underground bunker. Still, the homes of Amazon CEO Jeff Bezos, Starbucks CEO Howard Schultz and Clearwire founder Craig McCaw are all within Seattle city limits, so happy Street View hunting! (Photos by Jed Rosenzweig)

Starbucks' desperation means free Internet for card customers

Jackson West — Tue, 03 Jun 2008 10:20:00 PDT

With the purchase of a $5 gift card, or by entering your personal information in the company's database for a rewards program, Starbucks will allow you to sip on two hours of free Wi-Fi from AT&T at stores. The Seattle-based fast food chain may be one of the first to be hit by any economic downturn as Americans cut back on the affordable luxury of $4 caffeinated drinks and spend that money at competitors like McDonald's. One look at the stock's performance over the last year, down over 30 percent, and you can see why CEO Howard Schultz would look to freebies like Wi-Fi to keep the company's Frappucino^TM junkies coming back. As our very special correspondent once put it, "Wi-Fi isn't a luxury or even a commodity. It's a condiment."

Starbucks quarterly results spill scalds analysts's laps

Jackson West — Wed, 23 Apr 2008 18:00:00 PDT

Starbucks CEO Howard Schultz dampened analyst expectations for the company's performance ahead of its April 30 quarterly earnings anouncement, sending shares tumbling 10.4 percent in after-hours trading. "The current economic environment is the weakest in our company's history," he said to explain why the company is facing the first quarterly profit decline in eight years. The retailer has long traded on being a relatively affordable yuppie status symbol, serving up a dose of psychological salve for four dollars a cup to an American middle class in decline. But it looks like Schultz's stunt to bloster the elite cachet of a brand now as ubiquitously plebeian as your local McDonald's might not be enough to fuel continued growth. (Photo by Peter Kaminski)

Starbucks has fired Jim Donald as CEO, replacing ...

Owen Thomas — Mon, 07 Jan 2008 15:16:50 PST

Starbucks has fired Jim Donald as CEO, replacing him with Howard Schultz, the coffee chain's chairman. Changes in the works: Closing struggling stores, slowing store openings, and improving the "store experience." Translation: Dealing with the reality of competing with McDonald's as yet another fast-food chain. [WSJ]

Redfin gets cash, but no love, from star investors

Owen Thomas — Tue, 17 Jul 2007 21:01:00 PDT

Draper Fisher Jurvetson has led a $12 million investment round in Redfin, the Seattle-based online real-estate broker. But what does it say that Tim Draper and Steve Jurvetson, the venture capitalists behind such early Internet hits as Overture and Hotmail, have delegated new Web discoveries to junior partners in their firm? Emily Melton, a Stanford MBA with no big hits to her name, is joining Redfin's board, having "monitor[ed] Redfin's progress since early 2006," according to a company press release. Here's what that tells me about what investors really think.

DFJ's Melton is clearly no dummy; Stanford's not in the habit of issuing degrees to the like. But she joins an investing team filled with other back-benchers. Microsoft cofounder Paul Allen and Starbucks chairman Howard Schultz have also put money into Redfin, but Allen and Schultz tapped underlings to serve on Redfin's board. If Draper, Jurvetson, Allen, and Schultz really intend Redfin to upend the real-estate industry, why aren't they backing it personally? Clearly, Redfin isn't a star of their portfolios, or an idea that really captures these Internet dreamers' imaginations. They're aiming for a base hit at best — which is why they bunted when it came to picking their board representatives.