Starbucks patrons ‘demand’ $7 cup
Starbucks Corp. has started selling a specialty coffee that costs $7 for a 16-ounce "grande" cup, making it the company’s priciest brew, as customers demand more premium products.
The Costa Rica Finca Palmilera coffee’s price is $40 for a half-pound bag and $6 for a 12-ounce "tall" cup, Starbucks spokeswoman Lisa Passe said. It’s made from a rare, difficult-to-grow varietal called Geisha. The new coffee is available only at the 46 locations in the U.S. Northwest with expensive Clover brewing machines.
"We have loyal reserve customers who are interested in any opportunity to try something as rare and exquisite as the Geisha varietal," Passe said. "We are now offering more reserve coffees than ever before because of customer demand."
1 law firm sets bonuses’ base line
NEW YORK » Every year around this time, the heads of the country’s largest law firms weigh the size of year-end bonuses for their junior lawyers. And almost all ask the same question: What will Cravath pay?
Cravath refers to Cravath, Swaine & Moore, one of the country’s oldest and most profitable law firms.
In a quirky tradition lacking a sound explanation but one by which the industry abides, Cravath is the first to announce bonuses paid to its associates, and then other firms follow, either matching those figures or not.
Cravath kicked off the bonus season last week by announcing year-end bonuses that were substantially higher than they had been the previous two years, reflecting a strong performance for the law firm, which is based in New York. Bonuses will range from $10,000 for the most junior lawyers to $60,000 for senior associates, according to an internal Cravath memo.
