How to turn around a corporation

Lessons from Starbucks' renaissance:

1. Hire the old CEO who originally built up the brand
2. Close poorly performing outlets
3. Squeeze $500M efficiencies out of the production process
4. "Freshen" the brand with social awareness and "fair trade" coffee
5. Get rid of the cookie-cutter retail outlets, and customize shop designs to fit into local markets
6. Close for a day to teach the baristas how to make better espresso
   

These changes have lead to a 100% abnormal return (above what the market did) in the last year.