Judge bars Starbucks from closing 77 failing Teavana stores

[Frank Cannon]

Uhh, with the mall owner.  It's in the lease.

Leases are only as good as the judge that reads them.

[thackney]

https://www.ibj.com/articles/65175-simon-sues-starbucks-in-bid-to-block-mass-teavana-closings

...Teavana isn’t losing money, Simon said in the suit—it just isn’t growing fast enough to fit into Starbucks’ business strategy.

Starbucks is a “thriving company” with a market capitalization of more than $80 billion that is coming off a record quarter in which it opened 575 net new stores, Simon said.

“Starbucks’ decision to close its Teavana stores is simply an effort to further increase its economic gains at the expense of others,” Simon said. “Starbucks does not contend that Simon breached any lease or that Starbucks cannot remain viable if it continues to honor its promises in its leases for stores in Simon’s shopping centers. Instead, Starbucks simply believes it can make more money if it violates the leases than if it honored its contractual promises and obligations.”...

[Cyber Liberty]

FWIW, you can't use Venezuela as an example of failure anymore.  They just totally fixed all of their problems.

http://www.zerohedge.com/news/2017-12-03/petro-venezuelas-maduro-announce-launch-first-government-backed-cryptocurrency

Can't wait to see how that works for them.

[InHeavenThereIsNoBeer]

Can't wait to see how that works for them.

Guaranteed smashing success.  Kleptocurrencies can only go up:

"Look, I love pole dancing but lately my passion has definitely been Bitcoin,"

"The good thing is when it goes down, you can buy some more, and you know it's going to go up at some point."

http://www.zerohedge.com/news/2017-12-01/signs-market-top-pole-dancing-instructor-now-bitcoin-guru

[truth_seeker]

Uhh, with the mall owner.  It's in the lease.

There are many concepts  and clauses in retail leases. And many remain subject to ongoing negotiations throughout the term.

Starbucks to close Teavana, continue paying underlying lease payments, and list for sublease subject Teavana suites in Simon's malls.

That fulfills ANOTHER lease clause for them to mitigate loss (if any) to Simon, while also seeking to minimize costs and losses for themselves.

That leaves Simon to try forcing Starbucks to remain open, and arguing  what amount of damages they claim, if any.

In practice since it is Starbucks, the suites themselves may be a valuable locations and properties, which another retail entity would desire to acquire from either Starbucks or Simon.

[Suppressed]

This is the same judge that decided that IBM owes a lot of money because its welfare was not automated.  Leftist judge.
STATE OF INDIANA AWARDED $128 MILLION IN IBM CASE
http://www.btlaw.com/STATE-State-of-Indiana-Awarded-128-Million-in-IBM-Case-08-07-2017/

So it's now "leftist" to support keeping a contract?  IBM failed to provide services they were contracted to provide, and you want the court to force payment to them??

Wow.

[Weird Tolkienish Figure]

Haha imagine the implications of this?

You know that failing business you're sick of throwing money into? Well we can't let you close it and negatively impact the community now can we?

[INVAR]

You know that failing business you're sick of throwing money into? Well we can't let you close it and negatively impact the community now can we?

^^^ THIS.

Rand pretty much prophesied this.

[truth_seeker]

Haha imagine the implications of this?

You know that failing business you're sick of throwing money into? Well we can't let you close it and negatively impact the community now can we?

Do not overlook the fact that contracts have two parties, that agree to the terms therein.

Simon obtained effectively a corporate guarantee from the strong parent, Starbucks. Starbucks agreed to it.

Don't you think Starbucks should have to honor their contractual promise?

[Oceander]

Do not overlook the fact that contracts have two parties, that agree to the terms therein.

Simon obtained effectively a corporate guarantee from the strong parent, Starbucks. Starbucks agreed to it.

Don't you think Starbucks should have to honor their contractual promise?

Exactly.

[Joe Wooten]

Have you forgotten "You didn't build that" so no you can't close it either. The Marxist conquest
of the USA is almost complete.

But Starbucks is a big lefty operation so screw them. No mercy for them what so ever. They
should be forced to open a store in every getto in the country and made to hire locally. Force
them to Starbuck every run down mall everywhere.

With no bullet-proof glass wall between the baristas and their "customers"......