At the same time we continue tofocus on cost savings throughout our organization and we delivered $120 millionof permanent cost savings

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Ballet Shoes Center.com

Published: June 15, 2010

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At the same time, we continue tofocus on cost savings throughout our organization and we delivered $120 millionof permanent cost savings in Q2, following the $75 million produced in Q1. Weexpect to deliver approximately $150 million of such savings in Q3 and $175million in Q4, for a total cost reduction exceeding $500 million in fiscal 2009.We are ahead of target with our initiatives to position the Company forsustainable, profitable growth, and the results of those efforts are reflectedin Starbucks second-quarter financial performance. Also during thatperiod, the Company reduced its short-term borrowings by $487 million to $226million and we expect to substantially reduce the outstanding balance during theremainder of the calendar year. Starbucks defines free cash flow as cash flow fromoperations less capital expenditures with capital expenditures for the firsthalf of fiscal 2009 of approximately $237 million the period. The Company continues to generate strong operatingcash flow and maintain strong liquidity.

For the first six months of FY 2009,Starbucks generated $715 million in cash from operations and approximately $479million in free cash flow. Troy Alstead, executive vice president, chief financial officer and chiefadministrative officer, issued the following statement: “As we noted on our April 29, 2009 earnings call, Starbucks remains in a verysolid financial position. SEATTLE–(Business Wire)–Starbucks Coffee Company (NASDAQ:SBUX) today issued a response to the decisionby Moody`s Investors Service to downgrade the Company`s credit ratings. MusicThe southern rock band, which launched a North American tour last month, will perform “Use Somebody,” the current single from its album “Only By The Night.” The event will take place at the Gibson Amphitheatre near Hollywood.”Only by the Night” has sold 673,000 copies in the United States since its release last September, according to Nielsen SoundScan Lead single “Sex on Fire” spent eight weeks at No.

1 on Billboard’s airplay-based Modern Rock chart.(Editing by Dean Goodman)(please visit our entertainment blog via or on blogs.reuters /fanfare/ ) Music. The changes took place before the Taipei stock market openedon May 14. NEW YORK (Billboard) – Kings of Leon have joined Eminem on the performance lineup for the MTV Movie Awards, which will take place in Los Angeles on May 31, the network said Wednesday. Real estate developer Farglory (5522.TW) rose 4 percent,touch-panel maker Wintek (2384.TW) surged 7 percent, chipdesigner VIA Technologies (2388.TW) gained 4 percent, whilelaptop battery maker Simplo Technology (6121.TWO) climbed 1.5percent, after being added into the list. Investors closely watch such reshuffles, which take placeevery six months, as inclusion in an index can prompt buying in astock by managed funds that track MSCI indexes. (Adds details, share price reaction) Stocks  |  Global Markets TAIPEI, May 14 (Reuters) – Index compiler MSCI Barra onThursday said DRAM chipmaker ProMOS (5387.TWO) will be droppedfrom its MSCI Taiwan Index .MSCITW, in a routine reshuffle thatsaw 22 others join the list.


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