Coffee Cabal Meets

A raucous good time was had by all at the Starbucks shareholder meeting yesterday as founder Howard Schultz tore into analysts for expecting too much of the company. Hahaha! Starbucks stock lost 9.4% of its value recently after analysts' January growth expectations were missed, even though the company's own forecasts were met. Hahaha!

From the PI:

"It really bugged me that the stock would go down on 7 percent comps," Schultz said after joking that his "attorneys are probably freaking out right now" at his public annoyance.

Shareholders seemed less irked by the stock drop.

"It's no big deal," said Doug Hoerle of Gig Harbor, who has owned the stock since the company went public in 1992. "The stock price floats around, but I don't worry about it. I am in it for the long term."

Herbie Hancock played piano to amuse the attendees and there was some back-patting with regards to the company's new scholarship program at the UW.

Image courtesy of t-squared at flickr