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UPod

Member since: Dec 07
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Minneapolis, MN
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Posted March 24, 2008 (08:30AM)
A judge recently ordered Starbucks to repay 87+ million to California baristas (over 100+ million with tips).   This equals about 15% of net income for 2007.  At issue was whether or not shift managers should be allowed to share in tips.  The company plans to appeal the verdict.  I thought the stock would take a huge hit today.  I guess the market isn't concerned about it.
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UPod

Member since: Dec 07
5 Day -1.37%
15 Day 6.32%
1 Month 3.93%
3 Month 12.67%
6 Month 40.44%
1 Year 113.15%
As of: 11/21/09
How is this calculated?
Trades 101
Trade Notes 21
Blog Posts 83
Programmer / Analyst
Age: 30's
Minneapolis, MN
UPod Brokerage Account
Posted March 27, 2008 (05:34AM)

Another former barista from Boston has now also filed a similar suit againt SBUX.   Is this the start of a chain reaction:

http://biz.yahoo.com/ap/080326/starbucks_tips_lawsuit.html?.v=4 
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User Avatar Brokerage Account

UPod

Member since: Dec 07
5 Day -1.37%
15 Day 6.32%
1 Month 3.93%
3 Month 12.67%
6 Month 40.44%
1 Year 113.15%
As of: 11/21/09
How is this calculated?
Trades 101
Trade Notes 21
Blog Posts 83
Programmer / Analyst
Age: 30's
Minneapolis, MN
UPod Brokerage Account
Posted April 01, 2008 (10:06AM)
Another barista in my home state of MN also filed a lawsuit ( and trying to get class action status ).  In my opinion, these suits are frivolous.