green mountain coffee: \"a big deal\" in vermont

by:INGOR SPORTWEAR     2019-09-21
(Reuters)-
Green Mountain Coffee Baking Company has not broken the Fortune 500 list this year, but it is a big deal for people in China.
Home supporters of many coffee makers are confused about the speed of coffee
The stock of the growing company almost overnight changed from Wall Street\'s most popular stock to one of the most despised.
For many in Vermont, this is a classic case of Wall Street not being connected to the main streets.
This is because, in Vermont, Green Mountain is not only one of the largest employers, but its presence also supports many much smaller businesses.
\"If Green Mountain is gone, I don\'t have a salary,\" says Kelly Brooks . \" He spent hours at the Zachary pizza shop, less than a mile from Green Hill headquarters, a small town of less than 1,800 people.
Ms. Brooks says her income depends largely on the salary of her employees.
About 1,850 of Green Hill\'s 5,600 employees are located in Vermont.
Manufacturer of Keurig coffee machine and its popular singleserve “K-
Coffee products are also the fourth largest coffee product in Vermont.
Largest employer
Green Mountain
Named after the Vermont Mountains
It has been a shining example of the state\'s economic growth.
The company\'s revenue has soared to $2 in the past five years.
7 billion to 2011 the end of from 0. 336 billion beauty yuan.
But after years of astronomical growth, the company\'s share price reached 52-
A weekly high of $115.
The company, which peaked at $18 billion in last September, is returning to reality.
Shares in Green Hills have fallen by half this year and are trading at around $21.
50. after the investigation of corporate governance issues and SEC\'s accounting practices.
Green Mountain is also filing a lawsuit with a shareholder accusing it of false statements about growth in its earnings report and often finding itself the focus of criticism from short sellers
Sellers short stocks.
\"People are confused about Wall Street,\" said Gaelan Brown, a former Green Hill employee, who now works in Burlington, Vermont. profit.
Brown said he knows many people in the state and they are also shareholders of green hills because they are impressed by the rapid growth of the company.
Now, he says, local shareholders like him are scratching their heads and wondering why Wall Street is so contemptuous of green hills.
The company paid $11.
A 3 million tax is imposed on four operating states, including Vermont.
No national details provided by the company-by-
The state pays taxes.
Betsy Bishop, chairman of the Vermont Chamber of Commerce, said most companies in Vermont are small businesses and 90% of employees are less than 20.
Green Mountain also has some big-name backing in China.
Vermont Senate Democratic senator Hinda Miller served on the Green Hill board.
Miller, who owns his own business consulting firm, is one of the inventors of sports bras and has been on the green hills board since 1999.
Green Hill and its founder, Robert Stiller, and his wife, Christine, each gave Miller $300 in the 2004 state Senate campaign.
She\'s at 2008.
The Vermont Senate has sponsored a bill that recognizes the role of Stiller and him in making coffee machines the state\'s economic giant.
Tomi Kilburn, executive assistant to the Vermont Central Chamber of Commerce near Berlin, said the Green Hill factory was popular and visitors from the area would ask questions about the visit.
\"When people come to Vermont, there are three things that come to mind: coffee, cheese and ice cream,\" she said . \" She mentioned Ben and Jerry\'s, another iconic Vermont company, were bought by Anglu.
Unilever and Cabot cream co-op, a cheese maker, are Dutch food and personal care groups.
By contrast, the total number of employees in these companies is less than 1,000.
Dick Heaps, a consultant at Westford, Vermont, said that the 1,000 employee threshold is a major threshold.
\"If you have 1,000 employees, you are a big deal here,\" he said . \".
Competitors like Starbucks
As the Cup market and key patents expire, the company faces a tough battle.
\"I think Vermonters will always support a local company to do better,\" Bishop said . \". (
Edited by Jennifer Aben, Matthew Goldstein and Steve olovsky)
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