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Starbucks Corp Finances

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August 17, 2000 | Reuters
Starbucks Corp. said it is writing off more than $20 million from its investment in failed furniture Web site Living.com and warned that recent turmoil among Internet companies could lead to additional write-downs. Starbucks said the $20.6-million loss represented its entire stake in Austin, Texas-based Living.com, which on Tuesday laid off its 275 employees, shut down its Web site and filed for bankruptcy.
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BUSINESS
August 17, 2000 | Reuters
Starbucks Corp. said it is writing off more than $20 million from its investment in failed furniture Web site Living.com and warned that recent turmoil among Internet companies could lead to additional write-downs. Starbucks said the $20.6-million loss represented its entire stake in Austin, Texas-based Living.com, which on Tuesday laid off its 275 employees, shut down its Web site and filed for bankruptcy.
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