Starbucks logo enrages Christians
Published 8:08 pm Friday, May 23, 2008
A Christian group based in San Diego has found grounds for outrage over the new retro-style logo for Starbucks Coffee. The image, a replica of the company’s original logo, has a naked mermaid on it who looks like a prostitute, said Mark Dice, founder of the group Resistance. “Need I say more? It’s extremely poor taste, and the company might as well call themselves Slutbucks,” he added. The group, which claims more than 3,000 members nationwide and has found a place on the fringe advancing various conspiracy theories, is calling for a national boycott of the coffee-selling giant. The logo will run on Starbucks cups for “several more weeks,” said company spokeswoman Bridget Baker.
Cascade approves stock buyback
The board of Cascade Financial Corp., the parent of Cascade Bank, has authorized the repurchase of up to 300,000 shares of stock, representing about 2.5 percent of Cascade’s outstanding shares. Under the plan, the Everett-based company may buy back the shares between now and May 31, 2009. Under another stock buyback program over the past year, Cascade repurchased 52,293 shares.
Yahoo protests Icahn proxy fight
Yahoo Inc.’s board is urging shareholders not to sign or return proxy cards sent to them in connection with activist investor Carl Icahn’s efforts to replace the company’s current directors. Icahn, who like many shareholders is upset with the company’s handling of Microsoft Corp.’s last offer for the company, has nominated a slate of candidates to replace Yahoo’s directors. Yahoo postponed its annual meeting on Thursday, which had been slated for July 3, delaying a proxy contest with Icahn and gaining more time to put together a defense against him or negotiate a sale to or alternate deal with Microsoft.
Home sales fall for eighth time
Existing home sales fell for the eighth time in the past nine months, a string of weakness expected to continue as the housing industry, mired in its worst slump in decades, battles falling home prices, tight lending conditions and a weak economy. The National Association of Realtors reported Friday that existing home sales dropped by 1 percent. The unsold single-family homes amount to a 10.7 months supply.
Axle parts strike hurts GM stock
General Motors Corp.’s stock dropped almost 5 percent Friday after the company reported that strikes at some of its own plants and parts supplier American Axle will cost the automaker about $2 billion before taxes in the second quarter. The other strikes will cost it 33,000 vehicles. GM’s shares fell 83 cents to close at $17.60.
From Herald staff and news services
