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Starbucks Protests Losing Auction Bid for Tullys Coffee

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Losers at the bankruptcy auction for the Tully's coffee shops are protesting TV actor Patrick Dempsey's winning $9.1 million offer for the struggling West Coast chain's 47 locations, arguing that a competing bid from Starbucks Corp. and another group offered more money, Dow Jones DBR Small Cap reported today. As the 13-hour auction drew to a close, Starbucks executives teamed up with another group to offer more than $10.5 million for the chain, which would have enabled the coffee giant to take over 13 Tully's locations and to sell coffee within Boeing Co .'s manufacturing plants.