According to a recent article in the Seattle Times, Starbucks CEO Howard Schultz recently gave a statement regarding the increase in coffee bean prices. Schultz denied any indication that there is a shortage in coffee beans and insisted that the price increases were due simply to speculation. However, analysts from the VM group corrected the coffee executive on his mistake. They insist that there is a major shortage in coffee beans versus demand and that prices will only continue to rise in the future. "VM Group said, adding that it would "prefer trusting the judgement of a coffee traded rather than a coffee retailer." Perhaps Mr. Schultz will do more thorough research before speaking on behalf of such topics in the future.
http://seattletimes.nwsource.com/html/coffeecity/2013555790_analysts_starbucks_ceo_wrong_a.html?syndication=rss
Sounds like he needed to think before he spoke. This shows the importance in making sure you know as much as possible about the business you are reporting before you need it.
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