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TurskeyM_M3_A1 - Michael Turskey Argosy University B6450...

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Michael Turskey Argosy University B6450 – Financial Strategies for Managers Dr. Adam Sullivan March 19, 2010 Current and Long-Term Assets
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In 1971, three friends, Jerry Baldwin, Zev Siegel, and Gordon Bowker decided to open a coffee store at Pikes Place Market in Seattle, Washington. They named this store, Starbucks Coffee, Tea and Spice. This store sold coffee beans and dependable, high quality coffee making equipment. At this time, Starbucks was considered a private company. In 1972, the trio hired Howard Schultz to manage the sales of retail and to take charge of the marketing of the company. After a trip to Italy, Schultz opened another store, called Il Giornale, which was eventually combined with Starbucks Coffee, Tea and Spice. Once these two companies merged, they became known as Starbucks Corporation. For the most part it is common knowledge that the Starbucks Coffee Company is a successful firm both in terms of revenues and branding. In North America alone the Starbucks brand has enjoyed the benefits of its brand proliferation into the American culture and market.
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