The American Ghost Towns Killing Starbucks (VIDEO)

Starbucks (SBUX) CEO Howard Schultz can’t believehow bad the numbers look at stores in areas like Florida, which have been ravaged by foreclosures. It all made sense once he flew down there and saw that these “neighborhoods” were more like ghost towns with few buyers of $4.50 Venti coffee drinks.

Fortunately, you don’t have to jet down to subprime-ville to see what it’s like. On YouTube, footage of American Tent Cities in regions once pregnant with cookie-cutter homes is a popular genre. Here are a few. Meanwhile, we wonder how many more Starbucks they’ll have to shut down. Think of how much better things looked back this summer, when they announces the big cull.:


See Also:
Starbucks CEO: Recent Results So Bad I Didn’t Believe Them

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