Eugene David
...The One-Minute Pundit

Saturday, November 04, 2006


Today walking past 19th and Chestnut I noticed another Starbucks about to come in where an independent eatery was, and I thought, who can explain its good rep? Why do I think this twee Mickey Ds, for all its cleverly manufactured aura as a "quirky" peace-and-love place, is every bit as ruthless as Wal-Mart? How many thousands of small businesses has it deep-sixed? The tragedy of Whole Foods (pffh-hh-hh) gives us hope. People can't go on overpaying forever. When will somebody wake up and smell the odor of Starbucks?

Noting those heady days of double-digit same-store sales growth, analyst Mark Husson of HSBC Securities said the "party is over for the foreseeable future, perhaps forever, as competition is reeling Whole Foods in."

Husson said its fresh food items are good, but "not that much better than, say, Safeway's."


When?

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