General
Motors today announced a tentative agreement to sell Starbucks
to Jjefshurstenschaft of Sweden, for $12.5bn cash.
It
is the latest part of GM's reorganization, which is also
set to see Saab's sale to Koenigsegg, also of Sweden.
Jjefshurstenschaft
is a Mom and Pop coffee shop in Stockholm which employs
two part time workers.
Jenk
Jjefshurstenschaft, the Pop, told this website, "Running
Starbucks at an international corporate level is a dream
come true."
A
financial expert, sacked by Lehman Brothers, told this website:
"If
GM can get this one away this could be a considerable
boost to their refinancing aims as GM doesn't own Starbucks."
Other
Finance-ageddon headlines:
Man
arrested trying to explain difference between mutual fund
and hedge fund, sent to Bermuda
Large
Corporations to be allowed to print their own money
Jim
Cramer to be forced to pay back all losses viewers made
on his stock picks in new finance market regulation rules
to be set out later in the year...
