Starbucks Coffee Company’s two-level store at the corner of Chicago’s Oak and Rush Streets has a distinct Chicago feel, and reinforces the company’s recycled, reclaimed and reused materials philosophy and coffee origins theme. The walls are lined with reclaimed local brick; salvaged wood from disused boxcars clads walls, ceilings and fixtures. A floor-to-ceiling diagram of the world’s coffee-growing regions, done by a local artist, is featured downstairs. A chalkboard rolling panel allows the baristas to chalk the day’s specials on the wall and roll it to the appropriate region.
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The store, which took the Grand Prize in the Specialty Food Category of the A.R.E. Design Awards, is comfortable and inviting. Casual seating downstairs caters to to-go customers, while a fireplace and more sophisticated furnishings encourage lingering upstairs. Balcony seating capitalizes on the prime corner location.
Design: Starbucks Coffee Company, Seattle
Architect: Mancini Duffy | TSC, New York City
Former retail exec Begelman charged with insider trading
NEW YORK — A Monday report by Forbes said that former retail executive Mark Begelman has been charged with profiting off confidential information.
The SEC leveed insider trading charges against Begelman for allegedly using confidential information for his own gain, concerning the upcoming acquisition of Bluegreen Corp. by BFC Financial Corp. Begelman was COOfor Office Depot, but left the company in 1995 to found Markee Recording and Rehearsal, a company geared toward musicians.
According to the report, Begelman learned of the acquisition through his membership in the World Presidents’ Organization, a group of current or former executives at major companies. He then is reported to have parlayed the information into more than $15,000 in illicit trading gains when the acquisition was announced.
Begelman had agreed to settle the charges, without admitting any wrongdoing, by disgorging the gains and paying a civil penalty in the amount of his gains.
Office Depot shareholder wants to shake up the board
NEW YORK — Investment firm Starboard Value, Office Depot’s largest stockholder with a 14.8% stake, revealed Monday it has delivered a letter to the office supply retailer’s board of directors, expressing “strong disappointment at the board’s failure to work constructively with Starboard to reconstitute the board.”
In March, Starboard nominated six candidates, including former Home Depot chief Robert Nardelli, to Office Depot’s board in an effort to strengthen the company’s direction.
Starboard has also filed a preliminary consent solicitation with U.S. securities regulators allowing it to seek shareholder approval of its proposals absent a shareholder meeting, which has yet to be scheduled.
Starboard said that, because “it has become clear that the company has no intention of holding the 2013 Annual Meeting of stockholders in a timely manner,” it had no choice but to “seek to bypass the ineffectiveness of the current board" by launching a consent solicitation that would let shareholders vote on the new slate of directors immediately.