One-cup coffee company takes a dip
Plastics News featured the one-cup coffee maker trend a few weeks ago, highlighting the rapid growth in the segment -- and how plastics were benefitting. Readers of that story, "Brewing up market share, 1 cup at a time," may be interested in the latest news about sector leader Green Mountain Coffee Roasters Inc. The New York Times' Dealbook reported this week that Green Mountain founder Robert P. Stiller resigned his position as chairman on May 8 after he sold 5 million shares of the company's stock -- worth about $125 million -- to pay off loans he had taken against the shares. Stiller, who is still on the company's board, now owns only about 5.4 percent of Green Mountain, down from 27.5 percent in early 2008, according to the report. Indepedent shareholders took a bath as a result of Stiller's margin call too -- the value of Green Mountain stock lost about half their value in the past few weeks.
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