Starbucks 1Q profit down 69 pct, shuts more stores
Starbucks Corp. said nearly 7,000 employees may lose their jobs due to a new round of store closures and cost cuts as it reported Wednesday that its profit dropped 69 percent in its fiscal first quarter.
The company plans to close 300 underperforming stores around the world by the end of the fiscal year in addition to the 600 it already planned to close in the U.S. The company has already closed 384 of those stores.
The additional closures could result in the loss of 6,000 in-store jobs. Starbucks also plans to lay off about 700 non-store employees.
See the full article at Yahoo News.
Band Website Displays Copyright Claim from its Own Label
The above screenshot, taken earlier today, shows a video posted to Death Cab for Cutie’s Official Website. The message is a copyright claim from the band’s own label, Warner Music Group. Yes, you read that correctly.
The explanation is likely simple: the band, or its staff, embedded an unauthorized YouTube version of the music video which was later removed from YouTube…
The Billboard Q&A: Lyor Cohen
Warner Music Group Chairman/CEO of Recorded Music for the Americas and the U.K.Warner’s label chief speaks out on 360 deals, $1.29 singles and why YouTube deals don’t pay.
No one can say that Lyor Cohen isn’t opinionated. At Def Jam in the ’90s, he earned a reputation as an entrepreneur who would fight to protect the interests of his artists. And he didn’t mellow out much at Island Def Jam or at Warner Music Group, where CEO Edgar Bronfman Jr. brought him in 2004.
Hired to make Warner’s various labels more efficient, Cohen has recently posted some impressive gains. In 2008, WMG gained 2.2 percentage points of market share, according to Nielsen SoundScan, and Atlantic became the No. 1 label in the United States.
Tony Dungy steps down as Colts coach
Tony Dungy always considered football just a career path.
Not his life’s mission.
On Monday, Dungy began the transition from head coach to full-time dad and devoted volunteer by announcing his retirement after seven years leading the Indianapolis Colts.
But the culmination of a 31-year NFL career, which started with Dungy winning a Super Bowl ring as a player in Pittsburgh and ended two years after he became the first black coach to hoist the Lombardi Trophy, brought out some rare emotional moments from the usually stoic Dungy.
“My wife Lauren told me to bring some Kleenex. I thought I would make it a little farther than the first sentence,” Dungy said, his voice cracking.
He told owner Jim Irsay of his decision Sunday.
“And we spent about 21/2 hours crying,” Dungy said. “But I had a real peace about it.”
The 53-year-old Dungy informed his staff of the decision Monday morning, then met with some players after the traditional one-week waiting period ended. Dungy and his wife, Lauren, spent the last five years discussing whether he should continue coaching.
