Venti Capitalists

PJ O’Rourke:

Taylor Clark ought to know how Starbucks got its roc-like wingspan. That’s the tale by which we want to be spellbound. Clark quotes a 1997 Larry King interview with Howard Schultz, the company’s chairman, where Schultz outlines what should have been the plot of Clark’s book:



“People weren’t drinking coffee. … So the question is, How could a company create retail stores where coffee was not previously sold, … charge three times more for it than the local doughnut shop, put Italian names on it that no one can pronounce, and then have six million customers a week coming through the stores?”

12th Annual Lump of Coal Awards

Chuck Jaffe:

At most holiday feasts, the second helping is more filling than the first.
That should be the case in my annual buffet of fund buffoonery, the 12th annual Lump of Coal Awards, recognizing managers, executives, firms, watchdogs and other fund-industry types for action, attitude, behavior or performance that is misguided, bumbling, offensive, disingenuous, reprehensible or just plain stupid.
Last week, I highlighted 10 award winners who deserved nothing more than coal in their holiday stocking this year. Here are the rest:
Failing to get out the vote: Managers of the Blue funds. The tiny Blue funds allow Democrats to invest in companies that “act blue” and “give blue.” Beyond that, management claims to be “actively engaging in shareholder resolutions and proxy voting in an effort to promote increased transparency in corporate political giving.”

How Safe Is Your Salad?

Carl Nagin:

Late in August 2006, the federal Centers for Disease Control and Prevention in Atlanta began investigating cases of severe food poisoning reported by health officials in 26 states and one Canadian province. Over the next six weeks, a rare and particularly virulent strain of Escherichia coli 0157:H7 sickened more than 200 people across North America, hospitalizing half of them, some with severe kidney damage, and killing two elderly women and a child. For epidemiologists, the outbreak presented a breakthrough because a DNA-fingerprinting system enabled CDC investigators to trace the source of the infections from clusters of cases nationwide.
Bacteria in stool samples of hospitalized patients were genetically matched to pathogens in packaged, “ready to eat” Dole brand spinach that they had recently purchased and consumed. Further, product codes on the bags indicated that the contaminated greens had been processed during one shift on Aug. 15 at a plant in San Juan Bautista then owned and operated by Natural Selection Foods. The company’s records showed that the spinach had been harvested from four fields in Monterey and San Benito counties.