"The perception isn't the reality," one Chicago barista told Business Insider. Starbucks is at a critical juncture. While the company has consistently increased same-store sales in the US and globally for years, traffic in the second quarter was flat after dropping 2% in the first quarter of 2017 — meaning fewer people are visiting stores.
The red caboose parked at the edge of a rundown commercial block is the only rail car some people have seen in Matoaka in more than a year. It bears the markings of the Norfolk and Western Railway, a company merged years ago and absorbed into oblivion, like Amoco and Oldsmobile. As the coal industry has fallen on lean times, so too have the businesses that supplied the mines, equipped miners and hauled coal out of the West Virginia mountains — none more visible than the trains that once thundered around the clock along the shoulders of these hills.
Billionaire investor Paul Singer has a bleak outlook for Wall Street, and he has built a $5 billion rainy-day fund in preparation for what he describes as “all hell” to break out. Singer, who runs $33 billion hedge fund Elliot Management, wrote in a recent letter to investors that a bout of protracted low volatility and a tendency of stocks to levitate higher is likely to lead to near-term carnage in financial markets: Here’s how Singer puts it: The hedge-fund manager has raised some $5 billion in recent weeks, according to Reuters, that he says will be put to work when investor confidence finally gets brought to its knees. He raised the sum in about 24 hours, the report indicated. Lately, the