I have had my problem with Starbucks (SBUX) CEO Howard "Schultzie" Schultz in the past, but his latest little stunt has really ticked me off.

First things first, I will enjoy the occasional cup of Starbucks coffee, but the price has put a venti mocha-frappa-latte-chino out of my budget so I have started making my own at home. The company's product is good, but its competitors -- namely McDonald's (MCD) and Dunkin' Donuts -- offer a comparable product at a fraction of the price. I have long thought that Starbucks' saturation business model has been its biggest fault, with Schultzie's leadership running a close second.

Shares of Starbucks (NASDAQ: SBUX) are trading up in after hours trading today after the company posted strong Q4 earnings numbers after the market close.

As we noted in our earnings preview, the company was expected to show earnings for the quarter of 21 cents per share on $2.39 billion in revenues. The actual numbers came in at 24 cents per share with revenues of $2.4 billion.

On Thursday afternoon, coffee king Starbucks (NASDAQ: SBUX) will report third-quarter earnings. Currently, expectations call for a profit of 21 cents per share on revenue of $2.39 billion. A year ago, SBUX earned a penny per share in the third quarter, with revenue checking in at $2.52 billion. Fundamentally, SBUX has undertaken a number of cost-cutting measures included closing stores and cutting the prices on some of the company's easier-made beverages (this move was countered by raising the prices on some of SBUX's "more complicated beverages"). Worker layoffs have also had an impact on the company's bottom line. As for good news, SBUX announced that is going to keep 27 stores open that it had originally targeted for closing. This move was made after the firm reviewed its finances. I have long criticized SBUX for its spend-happy ways, but it seems that the company is trying to tame these tendencies. This does not mean that the firm doesn't still spend money loosely, but it is a start.

Last year's bull run in commodities was led mainly by oil, grains and gold. This year we've had spectacular bull runs in the "soft" commodities, which include mainly, coffee, tea, cocoa, sugar and orange juice.

Tea is at an all-time high; cocoa is at a 30-year high; and sugar is at a 28.5-year high. Orange juice reached its highest price in 15 months. Tea prices for the best quality broken pekoe, or BP1, surged to a record $5.02 a kilogram, up 70% since January.

The J.M. Smucker Company (NYSE: SJM), a food manufacturer famous for its jelly and baking products, reported a great first quarter on Friday. Adjusted earnings per share increased 12% to 92 cents. According to Reuters, management was able to beat expectations by a whopping 12 cents.

This is quite impressive given the fact that an analyst quoted by Reuters believes that more people eating at home are helping to fuel Smucker's success. I say this because, if people are deciding to dine at home more often, they are most likely doing so because of the recession.

Coffee king Starbucks Corp. (NASDAQ: SBUX) is one of the myriad companies posting earnings today, as it is slated to release its third-quarter earnings report after the closing bell this afternoon. Analysts expect the company to report earnings of 19 cents per share, excluding special items. Such results would outpace the firm's year-ago earnings by three cents per share.

The company is expected to post these earnings in the face of the recession, as cost cuts and store closures are thought to have insulated the company's profits. The results will also be closely monitored to see the impact of the company's main competitors -- which includes McDonald's Corp. (NYSE: MCD).

If it's Wednesday, that means another change at Starbucks (NASDAQ: SBUX), right? Reuters is reporting that SBUX is "reworking 90 percent of its baked goods." The latest move by the caffeine king is to start selling baked goods without high-fructose corn syrup or artificial flavors and dyes. The company will also introduce salads and other items -- nothing like a coffee and some salad, right?

According to Michelle Gass, SBUX's executive vice president of marketing, "Food has been the Achilles' heel of the company. [...] That statement will be long buried after we launch this program." The new campaign from SBUX will be promoted as "Real Food. Simply Delicious." and is an extension of last year's healthy campaign.

I have ridiculed Starbucks (NASDAQ: SBUX) in the past, but I actually have to give them some props for trying something new. Of course, this newest move is a double-edged sword, but we'll deal with that in a moment.

According to The New York Times, SBUX will display new advertising posters in six major cities and will try "to harness the power of online social networking sites by challenging people to hunt for the posters on Tuesday and be the first to post a photo of one using Twitter."

Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) has enjoyed a stellar run higher in 2009, with the shares up 105% year-to-date.

Today, the company announced that its board has approved a three-for-two stock split in the form of a stock dividend. All shareholders of record as of May 29 will receive one additional share of GMCR common stock for every two shares currently held, with distribution scheduled for June 8.

"This stock dividend allows us to share our success with our loyal stockholders to the extent of our authorized stock and underscores our confidence in the strength of our Company and its prospects for the future," said President and CEO Larry Blanford in a statement.

Feel like a nice cup of decaf right about now? Don't plan on getting it at Starbucks. Popular blogger (and newspaper doomsayer) Jeff Jarvis is complaining about a new but not well publicized Starbucks policy to stop brewing fresh decaf coffee after the morning rush.

On the back page of my Sunday New York Times I found a full-page four-color ad from Starbucks Corporation (NYS: SBUX). The big, bold type at the top of the ad said "They Want You To Think Coffee is Coffee. Well, It's Not Just Coffee. It's Starbucks." No, actually its just coffee. Really, really expensive coffee that was perfect for the frothy past three decades but far less so now. And when these types of pathetic bleats for help issue forth from massive lifestyle corporations, its best to start the Doomsday Clock.

Starbucks (NASDAQ: SBUX) reported earnings after the bell on Wednesday. Today, shares are up almost 10% on active volume in early afternoon trading as I write this. What does the market see in the numbers that is making it so happy?

Well, it's difficult to say precisely. As we all know, Starbucks has been having its problems, and data in Q2 indicate that the status quo essentially remains. Sales: down almost 8%. Operating income: down 77%. Adjusted earnings per share: down two pennies to $0.16. Cash from operations: down 6%. Same-store sales: down 8%. See what I mean? I hate using the word "down" so many times.

Earnings season continues to move right along, and Wednesday following the market close coffee giant Starbucks Corporation (NASDAQ: SBUX) will get its chance to impress Wall Street.

The last time that the company reported earnings was back on January 28 when it failed to meet analyst expectations by posting 15 cents per share versus analyst estimates for 17 cents a share. This time around, analysts are looking for the company to show 15 cents a share for its fiscal second quarter.

In a difficult economic environment, it is often wise for investors to consider stocks in more defensive and relatively recession-resistant sectors. And one such area is food and beverage stocks.

As the long-standing market maxim goes, consumers can pull back on spending for vacations, remodeling, and new cars, but they still need to eat and drink.

In that light, I turned to nine leading newsletter advisors who serve up their current favorite ideas in the food and beverage sector:

Is it realistic to expect Starbucks (NASDAQ: SBUX) to deliver double-digit earnings growth in this environment?

Seriously, can retail customers afford premium coffee when budgets are severely strained and debts are high?

No way. Premium coffee is a luxury item, and though many are addicted to java, cutting back is relatively easy to do. In that dynamic, sales are likely to slow.