This page contains a single entry from the blog posted on June 8, 2011 10:48 AM. The previous post in this blog was Throw away the tin foil. The next post in this blog is Putting a bird on Brazil. Many more can be found on the main index page or by looking through the archives.

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Wednesday, June 8, 2011

Pass the Folger's Crystals

The (yawn) Stumptown Coffee sale-or-maybe-not is breathlessly dissected here.

Comments (6)

Beautiful. I love it when the reality of a big check trumps the pompous anti-corporate, neo hippy blah blah of the "sustainable" crowd. Volvos do cost money.

Excellent reporting by WW. Actually checking facts and state records?? A welcome surprise.

"Stumptown Coffee is synonymous with Portland. The 12-year-old company is often credited with transforming Portland into one of the world’s best—and coolest—places to drink coffee. The company has an international reputation for purchasing the highest-quality beans, operating with high ethical standards and remaining absolutely, fiercely independent."

Good grief. Who writes crap like that? Your high school English teacher is shaking her head and reaching for the red marker.

What a clever idea to lie about something, thereby enhancing the publicity it gets.

There are two real truths about Sorenson and Stumptown. Stumptown has money problems, over extended. Some of that has to do with coffee commodity prices being at their peaks and inability to raise cup prices by much; and even though having only 5 outlets, is overextended. Stumptown is really a very small player in the coffee world and it's laughable that this article calls them an "international" player. But that's how we are so narcissistic around here.

Secondly, Sorenson being just like an average business person was approached to sell for a few $Millions. TSG has approached other smaller roasters throughout the US, but Sorenson sold out. Having only 10% "ownership" doesn't give you control of many matters, but the previous owner can continue to believe they do.

Something tells me that if you're a ten percent owner opposite a ninety percent owner, you're going for a ride.

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