Economics Links–07.02.08
by Sean Hackbarth
- Starbucks will close 600 underperforming stores. That means people will have to walk two blocks instead of three for their caffeine fix. CEO Howard Schultz has said his company’s problems are partially due to the housing crisis.
- Moody’s fired the head of its structured-finance unit after a review found employees misrated mortgage-backed securities.
- Vanity Fair covers the downfall of Bear Stearns with Felix Salmon noting the company misconstrued how long it had to find a buyer.





Even Starbucks is not immune to the downturn in the economy. Although, I think it might be because they have become too used to having it easy.