Discouraged by all the bad news about the real estate market? Maybe something good can come from the housing slump. Starbucks has blamed the housing market decline, particularly in California and Florida for it’s decrease in revenues:

Contributing to the softness in revenues for the quarter was a mid-single-digit decline in U.S. comparable store sales, driven by decreased traffic. Of note, the California and Florida markets, where consumers have been especially impacted by the effects of the downturn in the housing market, account for 32 percent of Starbucks U.S. retail revenues and 31 percent of its U.S. company-operated retail store portfolio.

It’s not that I really dislike Starbucks but a few things do bother me about them:

1. Their coffee is not that good
2. They don’t sell cafe con leche in Tampa
3. They drive local shops out of business

Now I know that the third one is not really their fault. It’s the fault of the people with no taste buds that go there. But the first one at least is something they do something about. For the second issue, maybe they can just call the latte by the Cuban name. But their lattes are too bland and milky to be a con leche.

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