Starbucks Annual Meeting 2009

One of my favorite Seattle activities is attending the Starbucks Annual Meeting.  This morning's meeting was much more subdued than in years past:  instead of a musical performance, the CFO spoke; instead of sampling Frappuccino, the company offered brewed coffee; and instead of celebrating soaring stock prices and expansion, Howard Schultz spoke about cutting costs and providing value.  

The more mellow tone felt appropriate for the economy, and Howard discussed challenges and opportunities in a humble, forthright manner.

The most entertaining part of the meeting was watching meeting attendees stuff their bags and purses with Starbucks pastries.  With the stock price around $11 and the 52-week low around $7, free pastries might be the only return shareholders see for a while.

For more on the meeting, check out my twitter feed.