BUSINESS BRIEFING / COMPENSATION

Howard Schultz, the chairman and chief executive of Starbucks Corp., did not receive a bonus last year for the second year in a row as the iconic coffee chain closed more than 600 stores and reported sliding sales amid a deepening recession.

According to a filing with the Securities and Exchange Commission, Schultz -- who reclaimed the CEO title in January last year -- received compensation valued by the company at about $9.7 million in fiscal 2008.

That was about 23% less than the $12.6 million he received in fiscal 2007.