Ubiquity = Starbucks (continued)
This is actually my third post on this topic. At 10th Street and Hudson, there’s been this crumbling building on the southeast corner for years. At one time there was a pub there. For the past three years I’ve watched that building slowly but surely get rebuilt. And they did a nice job as they kept the early New York brick townhouse look, but just modernized it.
Yesterday I was passing the building and noticed that they put a Starbucks in the first floor retail space. I guess I should have seen that coming. If they can have Starbucks in ski resorts and the Forbidden City, they can have them on an ordinary corner in the west village.
And then yesterday afternoon, I heard the news on Michael Goldberg’s MOG that Paul McCartney had signed a one record deal with Starbucks because,
“It’s a new world now, people are thinking of new
ways to reach the people. For me, that’s always been my aim.”
Starbucks apparently opens eight new stores a day. I learned this on today’s Wallstrip. Which I will end this post with. Talk about ubiquity. They are everywhere, they are a record label, they are a wireless isp, they are a meeting space. Starbucks sure seems to have a master plan that’s working.
Does that make it a good stock to own? Not sure about that. Here’s Wallstrip’s take Starbucks (SBUX). Stick around for the funny part at the end: