You can sign up for additional subscriptions at any time. Press Release Cafe Chain Market Size, Industry Development Scenario, Competition Dynamics and Growth Objectives by 2030| Starbucks, Costa Coffee, CaffeNero Published: Feb. 16, 2023 at 12:03 a.m. Nasdaq Starbucks Corporation News Summary SBUX US8552441094 STARBUCKS CORPORATION (SBUX) Add to my list Report Summary Quotes Charts News Ratings Calendar Company Financials Consensus Revisions Funds US Senator Bernie Sanders Seeking Subpoena for Starbucks CEO's Testimony Over Alleged Labor Law Violations 03/01/2023 | 01:08pm EST The organizing campaign notched its first victory in Buffalo in 2021. The first sips of both iced drinks were pleasant and complex, and they'll probably go down easily for iced-coffee enthusiasts. For Starbucks customers accustomed to drinking Italian coffee, the iced shaken espresso would probably be a better choice than the caff latte since it's more unique. Investor Insight Here, Vanstar Files Technical Report for the Nelligan Project, BIG opportunity in the tokenization of assets, Red Light Hollands (CSE:TRIP) psilocybin truffles arrive in Canada, Maiden Resource Estimate out for premier high-grade iron ore project, Global Crossing Airlines (NEO:JET) lands U.S. Dept. Skip to main content. This press release features multimedia. The agency can order policies changed and workers reinstated, but lacks authority to hold executives personally liable or make companies pay punitive damages for violations. Schultz is well-known for his opposition to unions and said workers trying to unionize are "angry at the world," in an interview with the Washington Post in October. At least 289 company-owned U.S. Starbucks stores have voted to unionize since late 2021. The Oleato launch is a callback to Schultz's first trip to Italy back in 1983, when he was a marketing director for Starbucks. In a call with analysts in early February, Brian Niccol, the chief executive of Chipotle . of Defense approval, BMO (TSX:BMO) & Scotiabank (TSX:BNS) slashed profits - a warning for rough times ahead, Infinity Stone (CSE:GEMS) completes airborne geophysics & expands land position at Zen-Whoberi Project, TSX: Venture lithium stocks primed for a 2023 breakout, Hydrogen fuel providing GHG solution to Canada's transport industry, The industrial stock leading growth among its TSX peers, Royal Bank (TSX:RY) & National Bank (TSX:NA) the latest lenders to report profit drops. Although our barista served the drink with a straw, they recommended tasting it first without one to really experience the olive-oil foam. The dividend will be payable in cash on February 24, 2023 to shareholders of record on February 10, 2023. articles a month for anyone to read, even non-subscribers! As the barista prepared my Oleato caff latte, my friend and I watched them steam green olive oil with oat milk and infuse it into a cup of Starbucks' blonde espresso roast. Oleato means "with oil," according to Starbucks. Starbucks workers strike outside a Starbucks coffee shop on Nov. 17, 2022, in the Brooklyn borough of New York City. Starbucks has previously been accused of using illegal tactics to deter staff from unionizing. (Podcast). Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. The judge wrote that Starbucks had committed hundreds of violations of federal law at its cafes in the Buffalo and Rochester areas, demonstrating a general disregard for the employees fundamental rights., As part of the ruling, the judge said Starbucks should be ordered to recognize a union at its store in Hamburg, New York, despite a previous union loss, because of its egregious and widespread misconduct.. Starbucks' interim CEO Howard Schultz said unions have no place at the company in the US in a CNN interview. Alice Giddings Wednesday 22 Feb 2023 11:03 am Starbucks with olive oil could be coming to the UK later this year (Picture: Starbucks) Olive oil. During my first trip to Milan in 1983, I was captivated by the sense of community, connection, and passion for coffee I found in the city’s espresso bars. Currency in USD, Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies. The upscale coffee megastores were meant to help Starbucks compete with the likes of Intelligentsia Coffee and Blue Bottle Coffee. Today, with nearly 36,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Starbucks signaled that it would appeal. Financial Market Data powered by QuoteMedia. Anyone can read what you share. The chilled beverage had a spoonful of olive oil, just like the caff latte, as well as a tasty hazelnut syrup. A replay of the webcast will be available on the companys website until end of day, Friday, March 3, 2023. A replay of the webcast will be available on the companys website until end of day, Friday, March 3, 2023. Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. CEO Howard Schultz teased the release on Starbucks' earnings call, calling it "alchemy" and a "game-changer". View source version on businesswire.com: Starbucks Doubleshot Espresso, Espresso & Cream, 6.5 ounce each, four-pack: Pack UPC 012000104510 and can UPC 012000001772 with a manufacturing date of Aug. 27 or 28 and a lot/expiration code of March 28, 2022 The products can further be identified by a "MA" designation in the lot code on the label. He said that unionization efforts reflect a "much bigger problem" beyond individual companies. See. The employees were giving out samples of green-tinted Oleato coffees, and the store's large posters and window displays seemed to successfully draw in curious shoppers and commuters. The Starbucks Reserve Roastery in Milan also released an iced cortado, a Golden Foam espresso martini, and an Oleato Deconstructed as part of the company's Reserve Oleato line. Schultz said that Starbucks worker unionization efforts in America are reflective of a much bigger macro problem beyond the company itself. News Releases PSAs Media: Order PSAs Contact PETA's Media Department Free Coffee! Feb 25 FOR IMMEDIATE RELEASE: February 24, 2023 PRESS CONTACT: starbucksmedia@workers-united.org Somerville, MA Today, workers at the Somerville Ave. Starbucks filed a petition with the National Labor Relations Board (NLRB) to unionize with Starbucks Workers United. Employees first filed a petition to unionize with the National Labor Relations Board in January. A Division of NBCUniversal. Josh Eidelson. For all Starbucks press releases, please visit the Starbucks Newsroom. Sanders, a Vermont Independent and chairman of the Senate Health, Education, Labor and Pensions Committee, said Wednesday that the committee will vote March 8 on whether to issue a subpoena to Schultz. "Winning our election is a huge win for the barista in our store and the rest of the valley. press@starbucks.com. Unionization efforts from Starbucks workers began in Buffalo, New York in 2021 as workers grew tired of stores being consistently understaffed, poor working conditions during the pandemic, as well a demand for higher wages. Partanna created a highly curated blend of extra virgin olive oil from the finest Mediterranean olives, including the high-quality Nocellara del Belice (also called Castelvetrano) olives from Partanna, Sicily. Because of the companys egregious and widespread misconduct demonstrating a general disregard for the employees fundamental rights, Judge Rosas wrote, it was necessary to issue a broad order requiring Starbucks to cease and desist from infringing in any other manner on rights guaranteed employees., This is truly a historic ruling, Gary Bonadonna Jr., the regional head of Workers United, the union organizing Starbucks, said in a statement. Kaya Cupial's Oleato Iced Cortado, meanwhile, was in a pretty V-shaped glass and garnished with an orange peel. Starbucks and Nestl announced today that Nestl plans to acquire the Seattle's Best Coffee brand from Starbucks. MILAN (AP) Putting olive oil in coffee is hardly a tradition in Italy, but that didn't stop Starbucks interim CEO Howard Schultz from launching a series of . Got a confidential news tip? The new beverage platform which launches in Starbucks stores in Italy on Feb. 22, includes: Oleato Caff Latte, Oleato Iced Shaken Espresso, and Oleato Golden Foam Cold Brew. While Howard Schultz is a multi-billionaire who runs a very profitable multi-national corporation he must understand that he and his company are not above the law, Sanders said. These beverages aren't available at all locations. The project comes at a time of monumental change. Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Stocks Drop for a Second Day; Yields Stay Elevated: Markets Wrap, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. Sign up for notifications from Insider! The new "Oleato" line is the brainchild of CEO Howard Schultz, who is stepping down in April . An unexpected alchemy of Starbucks® finest arabica coffee infused with Partanna® extra virgin olive oil offers a velvety smooth, deliciously lush new coffee experience, Unveiled at the Starbucks Reserve® Roastery Milan and Starbucks Italy stores, Oleato to launch in select markets worldwide over the coming year. Starbucks Announces Q1 Fiscal Year 2023 Results Conference Call SEATTLE, January 19, 2023--Starbucks Corporation (Nasdaq: SBUX) plans to release its first quarter fiscal year 2023 financial. The "Perfect" singer announced that his fifth studio album, titled "-" (pronounced Subtract), will drop on May 5, according to a press release. Our aspiration to continue to be the world's leader in premium coffee in both the art and the science is as strong today as it was more than 50 years ago when Starbucks first opened its doors,” said Schultz. The coffee giant will launch its "Oleato" line in its roughly two dozen Italian locations on Wednesday and plans to bring it to Southern California this spring. View the, https://www.businesswire.com/news/home/20230221005753/en/, @ the Bell: Overseas factory data revives TSX, @ the Bell: Financials drag TSX after downbeat results, @ the Bell: TSX rebounds from 2023s worst weekly selloff. Workers at the Starbucks on Tenaya Way and Azure Drive voted in favor of joining the union by a vote of 18-3, according to a news release. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. He also ordered the company to bargain with the union at a Buffalo-area location where the union lost an election in December 2021, concluding that the scope of the violations at the store tainted the vote and made a rerun of the election an insufficient remedy. "Winning our election is a huge victory for the baristas at . "It makes beverages richer," Starbucks Chief Marketing Officer Brady Brewer told CNBC. According to a press release, Starbucks workers on Tenaya Way and Azure Drive voted 18 to 3 to join a union. Starbucks' interim CEO Howard Schultz reiterated that he believes unions have no place at the company in an interview with CNN's Poppy Harlow, published on Tuesday. You can sign up for additional subscriptions at any time. 206-318-7100 Unions offer a route for workers to seek better work-life balance, higher pay, and greater job security without having to move roles. This drink's foam was so rich and dense that I could practically eat it with a spoon. This has included covering full college tuition for staff, health insurance, and equity through stock options. An email was sent with password retrieval instructions. Though the olive oil certainly added richness to the drink, I still prefer a standard latte's flavor and texture. Schultz told CNBC in September he's "never coming back again" as chief executive. Additionally, inflation has outstripped wage growthin the US, creating further dissatisfaction. Studies have suggested that consuming olive oil can reduce inflammation and help heart health. View the full release here: https://www.businesswire.com/news/home/20230221005753/en/, Introducing Starbucks Oleato a Revolutionary New Coffee Ritual (Photo: Business Wire). ET The company plans to introduce the Oleato line to its Southern California locations this spring before taking it to Japan, the Middle East, and the UK. Cookies are used to offer you a better browsing experience and to analyze our traffic. I was shocked, stunned to hear the loneliness, the anxiety, the fracturing of trust in government, fracturing of trust in companies, fracturing of trust in families, the lack of hope in terms of opportunity," Schultz told CNN. Newcomer Laxman Narasimhan will succeed him after spending months at Starbucks learning the ins and outs of the business. Howard Schultz, Starbucks' interim chief executive officer, got the idea for the products after a trip to Sicily. Select lots of 13.7-ounce glass bottled Starbucks Frappuccino Vanilla drinks have been voluntarily recalled, a representative for PepsiCo, on behalf of the North American Coffee Partnership, said in a statement to ABC News. Embracing our heritage, we remain dedicated to exceeding our customers’ expectations bybringing innovativeexperiences to savor.” From the first Starbucks Caff Latte served in 1984, to Pumpkin Spice Latte, Nitro Cold Brew, and the more recent Iced Shaken Espresso beverages, Starbucks continues to bring its customers innovative beverages at scale. The conference call will be webcast, including closed captioning, and can be accessed on the companys website at https://investor.starbucks.com/. ET. This press release features multimedia. Later this year, Japan, the Middle East, and the United Kingdom will launch the beverages. The press will then be infused (steamed, shaken, or blended) as a customization into select drinks such as espresso beverages and tea lattes. as well as other partner offers and accept our. Track your investments 24 hours a day, around the clock from around the world. Learn more about a Bloomberg Law subscription, Log in to access all of your BLAW products. Sunday, February 26, 2023. He'll hand off to incoming CEO Laxman Narasimhan in April. In an emailed statement, the union described the ruling as a watershed event. The art of coffee craft, curation and creation remains core to Starbucks. Golden Foam will also be available as a customization, which can be added as a delicious topping on both hot and cold beverages. Please go to the link in the email message to retrieve your password. The ruling can be appealed to the labor board in Washington, and to federal court after that, and Starbucks indicated that it might do so. The main difference between this beverage and the iced shaken espresso was the foam's thickness. Starbucks Violated Labor Law in Buffalo Union Drive, Judge Rules, https://www.nytimes.com/2023/03/01/business/economy/starbucks-union-buffalo-ruling.html. The Oleato collection has three core offerings: the caff latte, the Golden Foam cold brew, and the iced shaken espresso. ", He added: "If a de minimis group of people file for a petition to be unionized, they have a right to do so. Starbucks has a new way to customize its coffee: olive oil. A second Starbucks in Las Vegas unionized with Starbucks Workers United after a Tuesday night vote. Starbucks Corp. illegally fired six employees in New York State "in response to union activity," a National Labor Relations Board judge ruled . To share in the experience, please visit us in our stores or online at stories.starbucks.com or starbucks.com. Phoebe Hunt. It was that trip that inspired me to bring the ritual of handcrafted espresso to Starbucks and to America. However, Schultz's successor, Kevin Johnson, scaled back the initial ambitious plans to build several dozen Reserve Roasteries in favor of focusing on other priorities. In a sweeping decision, an administrative judge in New York ruled on Wednesday that Starbucks had violated federal labor law dozens of times in responding to a . The blend was thoughtfully selected to pair perfectly with Starbucks coffee, which is then skillfully infused in the beverage to unlock a smooth and delicious experience like no other. SEATTLE, November 30, 2022--Starbucks Corporation (NASDAQ: SBUX) today announced that its Board of Directors has approved a quarterly cash dividend of $0.53 per share of outstanding Common Stock. Its bitter, slightly savory flavor was immediately evident. Top editors give you the stories you want delivered right to your inbox each weekday. 2021 Starbucks Corporation. PETA to Hijack Hagerstown Starbucks Customers in Surcharge War Share Tweet For Immediate Release: February 24, 2023 Contact: David Perle 202-483-7382 Hagerstown, Md. Union supporters say they want higher pay and more consistent schedules, among other issues. Oleato drinks could also appeal to health-conscious consumers, Brewer said. SHAREHOLDER ACTION ALERT: The Schall Law Firm Encourages Investors in Cognyte Software Ltd. with Osino Resources Announces Infill and Step-Out Assay Results from Drilling at Flagship Gold Project, Intermap Receives First Task Order for U.S. Department of the Interior IDIQ Prime Contract, INEO Achieves 50% Growth with Record Quarterly Revenue in Fiscal Second Quarter, The Next Gold Rush will Gold hit $3,500/oz in 2023? The process has been contentious. The initial Oleato lineup of drinks will infuse olive oil into Starbucks' Caff Latte, Iced Shaken Espresso and cold foam. Starbucks Corp. illegally fired six employees in New York State as part of an anti-union reign of coercion, a US National Labor Relations Board judge ruled Wednesday. Data is a real-time snapshot *Data is delayed at least 15 minutes. It is rare but not unprecedented for a judge to effectively order in a union upon concluding that it had support among workers but that a fair vote is nearly impossible. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. When it was time to order, we got the Golden Foam cold brew, the iced shaken espresso, and the caff latte. investorrelations@starbucks.com, Starbucks Contact, Media: PepsiCo, which releases bottled Starbucks coffee drinks, has announced a recall for one of its products. Starbucks' interim CEO Howard Schultz reiterated that he believes unions have no place at the company in an interview with CNN's Poppy Harlow, published on Tuesday. By continuing to use our service, you agree to our use of cookies. Today, with over 35,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. You must click the link in the email to activate your subscription. We also use them to share usage information with our partners. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected. Starbucks has historically painted a picture of being a progressive company that treats workers well and offers good benefits. Feb 09, 2023 Press Releases Press Releases Starbucks Reports Q1 Fiscal 2023 Results Feb 02, 2023 Fact Sheets Fact Sheets Starbucks Winter Feels Menu: Cool Beverage Customizations for any Mood Jan 30, 2023 Views Views Message from Sara: Supporting partners as we return to the office Jan 25, 2023 Press Releases Press Releases Q1 Consolidated Net Revenues Up 8% to a Record $8.7 Billion, Starbucks Corporation (Nasdaq: SBUX) plans to release its first quarter fiscal year 2023 financial results after market close on Thursday, February 2, 2023 with a conference call to follow at 2:00 p.m. Pacific Time. I decided to try the innovative drinks the day they launched at a Starbucks location in Florence. Consider the launch a parting gift from Schultz, whose third stint as head of the company comes to an end in April. Iced espresso drinks, in particular, are Starbucks' largest category by sales volume and its fastest-growing segment, which is why the company chose to include the Iced Shaken Espresso in the Oleato launch. If the vote passes and its likely it would, since Democrats are in the majority on the committee Schultz would be required to appear before the committee on March 15. American workers are demanding more from employers post-pandemic because of adrastic shift in work culture. The Oleato collection has three core offerings: the caff latte, the Golden Foam cold brew, and the iced shaken espresso. Commemorates Twelfth Consecutive Annual Increase. Starbucks today unveiled a transformational innovation in coffee, Oleato a line of coffee beverages that brings together the unexpected Starbucks arabica coffee deliciously infused with a spoonful of Partanna cold pressed, extra virgin olive oil. Stockhouse membership requires an email address which must be shared by Facebook. The decision cited egregious and widespread misconduct, including illegal monitoring and firing of workers. This ruling is the latest in a series of orders against the coffee chain, which is battling an unprecedented union campaign thats spread from Buffalo to hundreds of stores across the country. We believe the decision and the remedies ordered are inappropriate given the record in this matter and are considering all options to obtain further legal review, the company said in an emailed statement. Starbucks continuous search for inspiration revealed a family tradition that has existed in regions of Italy for generations - enjoying a spoonful of extra virgin olive oil each day as an uplifting ritual. All rights reserved. Starbucks Corporation (NASDAQ: SBUX) today announced that its Board of Directors has approved an increase in the companys quarterly cash dividend from $0.49 to $0.53 per share. Starbucks initial Oleato launch will launch three olive oil-infused drinks in stores across Italy. In addition to reinstating the six fired workers, the judge said Starbucks should be ordered to reinstate a seventh illegally forced out of the company, to compensate workers whose hours were cut in response to the union campaign, and to create a video recording of Schultz attending a meeting with employees at which a notice about workers rights is read. Starbucks said Jones has been more closely involved with the unionization effort. Starbucks describes the caff latte as a "velvety smooth, deliciously lush latte." One News Page. The judge wrote that Starbucks had committed hundreds of violations of federal law at its cafes in the Buffalo and Rochester areas, demonstrating a general disregard for the employees fundamental rights., NLRB judge cites egregious and widespread misconduct, Coffee chain has denied its engaged in anti-union activity. Canadian Press Press Release. Rulings by NLRB judges can be appealed to labor board members in Washington, and can then be appealed into federal appeals court. STARBUCKS CORP. 101.60. Each one contains a spoonful of Partanna, an Italian brand of extra-virgin olive oil. The Starbucks Reserve Roastery Milan will also debut five beverages to customers on Feb. 22: Oleato Caff Latte, Oleato Iced Cortado, Oleato Golden Foam Cold Brew, Oleato Deconstructed, and Oleato Golden Foam Espresso Martini. Overnight on Wall Street is daytime in Asia. On Wednesday, Starbucks corporate staff also sent an open letter protesting the companys alleged union-busting, and US Senator Bernie Sanders said the committee he chairs will vote next week on subpoenaing interim Chief Executive Officer Howard Schultz on the issue. Starbucks launched a new line of olive oil-infused coffee drinks across its 20 Italian branches on February 22. Market Digest: AMGN, ASH, EPD, LAZ, MMM, MO, PFE, ROP, SBUX, SWK, APTV, AGNC, NasdaqGS - NasdaqGS Real Time Price. The United Kingdom, Japan and the Middle East will follow later this year. In a statement, Sanders said he was taking the rare step of voting to subpoena because Schultz hasnt responded to repeated requests to meet and provide documents to the committee. Sen. Bernie Sanders is raising the stakes in his effort to get Starbucks interim CEO Howard Schultz to testify at a Senate hearing about an ongoing unionization effort at the company. The conference call will be webcast, including closed captioning, and can be accessed on the companys website at https://investor.starbucks.com/ . If you change your Facebook permissions to restrict Stockhouse from receiving your email while joining or signing in to Stockhouse then it will fail. After submitting your information, you will receive an email. This transaction is part of Nestl's focus on driving sustained profitable growth in the coffee category and strengthens the Global Coffee Alliance by allowing both companies to focus on their core . Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. The drinks are exclusively sold in Italy, but they're coming to Southern California this spring. Access your favorite topics in a personalized feed while you're on the go. Starbucks, meanwhile, has filed 102 unfair labor practice charges against the union, Starbucks Workers United. SEATTLE & SAN FRANCISCO, January 17, 2023--Starbucks and DoorDash Set to Expand Delivery Partnership Nationwide. There are around 9,300 company-operated Starbucks stores in the US, and around 10,200 in North America. Most recently, workers at a Tesla plant in Buffalo, New York sent an email to CEO Elon Musk about their union campaign to secure better pay, job security, and a reduction in production pressure and measuring metrics, per Bloomberg. 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Starbucks is launching olive oil-infused coffee in Italy, with plans for a U.S. launch this spring. The drink, which cost 5.50 euros, was delicious. It's made with oat milk infused with olive oil, demerara syrup and a dash of . Schultz has previously refused to appear before the committee. Union activity has ramped up in the past year across major companies, including Amazon and Apple, as workers fight to secure better rights. Research that delivers an independent perspective, consistent methodology and actionable insight, Introducing Starbucks Oleato a Revolutionary New Coffee Ritual, Starbucks Announces Q1 Fiscal Year 2023 Results Conference Call, Starbucks and DoorDash Set to Expand Delivery Partnership Nationwide, Starbucks Declares Quarterly Cash Dividend, Starbucks Reports Q4 and Full Year Fiscal 2022 Results. In to access all of your BLAW products cost 5.50 euros, was delicious Starbucks learning the ins and of. The Middle East, and they 'll starbucks news releases go down easily for iced-coffee enthusiasts charges against union... Bigger macro problem beyond the company comes to an end in starbucks news releases drinks across its 20 branches... A Bloomberg Law subscription, Log in to Stockhouse then it will fail the United Kingdom will launch olive... Plans for a U.S. launch this spring least 289 company-owned U.S. Starbucks stores have to. Describes the caff latte, iced shaken espresso and cold beverages deter staff from unionizing Free!... And widespread misconduct, including closed captioning, and can be accessed on the companys website until end of,! Early February, Brian Niccol, the union described the ruling as a hazelnut! Brew, the Middle East will follow later this year, Japan and the iced shaken espresso further! It was time to Order, we got the Golden foam cold brew, and can appealed! 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Incoming CEO Laxman Narasimhan will succeed him after spending months at Starbucks learning ins! Stockhouse membership requires an email higher pay and more consistent schedules, among other issues and analysis the! Handcrafted espresso to Starbucks NLRB judges can be added as a watershed event, January,! To 3 to join a union the new & quot ; line the! The valley to incoming CEO Laxman Narasimhan will succeed him after spending months at Starbucks learning the ins and of! 'Ll hand off to incoming CEO Laxman Narasimhan will succeed him after spending months at Starbucks learning the ins outs...
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