Hopefully, his retirement income will protect him from the elements and from these high insurance costs,” one lawmaker said.

The former CEO and early backer of Starbucks has revealed that he will be departing from Washington in favor of Florida, hours after the state’s lawmakers advanced a tax bill targeting residents earning over $1 million a year.

Or … and hear me out … are we just at the point of the cycle where investors are prizing reliability over growth? Starbucks is the epitome of reliability. Caffeine is a drug. We all need it everyday — and sometimes multiple times per day.

Starbucks (NasdaqGS:SBUX) has rolled out a new tiered loyalty rewards program, adjusting how customers earn and redeem benefits. Former CEO Howard Schultz has relocated from Seattle to Miami, attracting attention to executive migration and tax considerations following Washington State's new wealth tax.

He paid $44 million for a penthouse at the Four Seasons at the Surf Club, marking the latest billionaire to move to South Florida.

The company said employees at the affected stores were given 30-day notices of the closure.

The property at 3300 Johnston St., which was been under construction for months but has no exterior signage, is currently listed for lease with no reference to the popular coffee chain

Howard Schultz announced that he and his wife have moved to South Florida. The couple reportedly bought a $44 million penthouse in Surfside.