Thanks a latte

Eight years and 11,500 stores since he stepped down as chief executive officer, Starbucks' chairman Howard Schultz returns to the daily grind. Wall Street welcomed him with a little foamy heart.

More froth in the stock price is exactly what investors expected with him back, and they got it. Schultz built Starbucks from a homegrown, Seattle favorite into an international success in 43 countries. Starbucks is a company whose real-estate operations must rank second only to coffee-buying in the corporate hierarchy. Rapid expansion depends on a template recycled literally thousands of times. Repetition of a successful model breeds success, until it starts to look, well, the same.

Starbucks succeeded in getting Americans hooked on quality coffee and steamed milk. That lucrative combination and technology's ability to deliver a decent latte at McDonald's inspired rivals beyond other coffee stores.

Starbucks is haunted by the specters of McDonald's and Dunkin' Donuts, but in reality they moved toward one another. As others upgraded their coffee selections, Starbucks added breakfast sandwiches.

With toddlers roaming around with snacks the size of their heads, Starbucks is light years away from any cozy self-image of a boutique coffeehouse. Playground equipment might be on the drawing board. The manic frenzy behind the counter is more like a Jiffy Buzz than a purveyor of a crafted cup of indulgence, as the prices imply.

Starbucks thrived through a highly caffeinated expansion. A predictable quality survived. A unique experience, not so much. If the goal was to be ubiquitous, it succeeded beyond all imagination. Careful, or the next stop is utilitarian, as in fast food. Talk about grounds for dismissal.