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Coffee City

Melissa Allison follows the world's biggest coffee-shop chain and other Seattle caffeine purveyors.

March 23, 2010 at 10:52 AM

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Any guesses about news, celebrities at Starbucks' annual meeting Wednesday?

Posted by Melissa Allison

firsthalf.jpgBefore moving to annual meeting speculation, check out the long line for free pastries at a Starbucks near Seattle University this morning. The top picture is the first half of the line; bottom picture is the second half. Shortly before the deal ended at 10:30 a.m., the pastry cases I saw still had plenty of doughnuts and pastries.

Tomorrow, 3,800 shareholders are expected at Starbucks' annual meeting, which typically snarls traffic around Seattle Center before it starts at 10 a.m. and after it ends around noon.

The meeting -- part financial, but largely a show for Starbucks fans -- will be webcast live beginning at 10 a.m. from McCaw Hall. The company says it will issue two press releases, one before the event starts. Any guesses about what those might be?

secondhalf.jpgPossibly a shareholder dividend, given the company's $1.3 billion in cash? At last year's meeting, CFO Troy Alstead said Starbucks would "evaluate a dividend as a possibility."

Starbucks' annual meeting often includes a celebrity performance. Last year was low-key with no celebrities, but a very busy meeting the year before included a performance by k.d. lang and the news that Starbucks was buying Ballard-based Clover and expected to have the machines in 30 percent of its stores that year. In 2006, Tony Bennett sang. Any ideas who might perform tomorrow?

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