Starbucks Starbucks, along with its partner Delek Group of Israel, closed all six of its locations in Israel, citing "on-going operational challenges" and a "difficult business environment." The Starbucks location in the former imperial palace in Beijing closed in July 2007. The coffee shop had been a source of ongoing controversy since its opening in 2000 with protesters objecting that the presence of the American chain in this location "was trampling on Chinese culture." In July 2008, the company announced it was closing 600 underperforming company-owned stores and cutting U.S. expansion plans amid growing economic uncertainty. On July 29, 2008, Starbucks
Provident Bank of Maryland the 2008-2009 "Great Recession" crisis. On October 15, 2008, Provident announced the acquisition of seven Chevy Chase Bank (originally Chevy Chase Savings and Loan Association, founded 1892 from Chevy Chase, Maryland in the Washington, D.C. northern suburbs of Montgomery County) branch deposits. The deposit base, totalling more than $40 million, was from branches located in Giant grocery stores (Landover, Maryland chain, founded in Washington, D.C.) in the Baltimore area. The acquisition included over 8000 commercial and retail customers. Provident paid a 3% net deposit to Chevy Chase Bank. Provident announced on December 19, 2008 that it was to be acquired