A week ago, Europe had settled on a debt resolution for Greece, the Dow Jones
industrial average was rising past 12,000 and the markets in general had some
much-needed confidence pumped through their veins. So much for that. What Europe
giveth, Europe taketh away. This week watched the Dow slide back under 12k as
investors, euro zone leaders and the rest of the logical free world threw their
hands in the air in exasperation and confusion Monday as Greek Prime Minister
George Papandreou announced he would throw the debt resolution to a referendum
in January, jeopardizing the highly contentious bailout deal. The backlash was
thorough and immediate. American markets dropped about 4% in one day, and global
exchanges were sent reeling. By Thursday, Papandreou said he was backing off a
referendum, but the damage at least to his political future was already done.
On Friday, Papandreou was facing a confidence vote to his socialist party's
rule. The week was especially tough on financials, which got to weather not only
general economic uncertainty in Europe, but also the fallout from the Chapter 11
bankruptcy filing of broker MF Global (NYSE: MF ), which had piled up almost $6
billion in debt of struggling countries including Italy, Spain and Portugal. On
Friday, MF Global's head was severed as Jon Corzine, a former New Jersey
governor and past CEO of Goldman Sachs (NYSE: GS ), stepped down . Those were
just a couple big headlines from this week in financial news. Groupon IPO
Finally, Friday saw the long-awaited Groupon IPO , and it didn't disappoint.
GRPN issued 35 million shares priced at $20, which was above expectations, to
raise $700 million in its initial public offering. The stock then proceeded to
boom more than 30% throughout the day and finished at $26.11. Groupon's
activity, if nothing else, was a much-needed firework in an otherwise lackluster
few months for public offerings . Weekly Joe A pair of nation-defining coffee
companies made big news this week. Starbucks (NASDAQ: SBUX ) announced a big
earnings beat after the bell Thursday, with EPS of 47 cents for the fourth
quarter versus analysts' estimates of 36 cents. The number is 27% higher than
the year-ago period and was powered by 6% international growth and 10% domestic
growth. SBUX shares took off Friday and ended the day up almost 7% at $44.19
Starbucks' recent deal with Green Mountain Coffee Roasters (NASDAQ: GMCR )
also helped that companys consumer products group, which increased revenues 20%.
GMCR produces the popular single-portion K-cups under the Keurig brand, and
Starbucks began distributing its coffee in K-cups this past quarter. North of
the border, Tim Hortons (NYSE: THI ) announced it would be nosing in on
Starbucks and Dunkin' Brands (NASDAQ: DNKN ) by including lattes and other
fluffy coffee drinks with its normal assortment of plain Joe and Timbits. The
Canadian company is pairing the drink push along with its continuing stretch
from Midwestern states outward toward the coasts. The market opportunity for
specialty beverages is enormous 20% per year, and Tim Hortons hopes to grab the
attention of some of the 150 million Americans that drink espresso, cappuccino,
latte or iced coffees. Angry Mother Nature This past weekend, an unusually major
winter storm that targeted the Northeast knocked out power for more than 3
million Americans. Don't expect that to end. Farmers' Almanac includes a
gloomy winter forecast with plenty of cold and stormy weather . Of course, while
that forecast doesn't bode well on the average person, it also weighs on the
American economy. Harsh winter weather can keep people from going to work, suck
money from city budgets for seasonal snow removal and knock out valuable
shopping days. This week also saw Honda Motor Co. (NYSE: HMC ) take one on the
grille, not only because of aftereffects from the March earthquake and tsunami
in Japan, but also because of massive flooding in Thailand , which has been
persisting since July. The flooding
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