Posted on 03/30/2015 10:18:35 PM PDT by Impala64ssa
At Starbucks’ annual shareholder’s meeting in Seattle on Wednesday a shareholder complained to Billionaire CEO, Schultz about the fact that Starbucks has lost customers because of its support of gay marriage.
Starbucks supported Washington’s state’s referendum backing gay marriage last year and in response the National Organization for Marriage started a boycott of the company. Tom Stobhar, founder of Corporate Morality Action Center, complained about the company’s support of gay marriage, citing that the company’s support for gay marriage has resulted in boycotts against the company that have cost Starbucks a considerable amount of business.
“In the first full quarter after this boycott was announced, our sales and earning—shall we say politely— were a bit disappointing.” Stobhar said.
This prompted Shultz to engage with Stobhar saying,
“Not every decision is an economic decision. Despite the fact that you recite statistics that are narrow in time, we did provide a 38% shareholder return over the last year. I don’t know how many things you invest in, but I would suspect not many things, companies, products, investments have returned 38% over the last 12 months. Having said that, it is not an economic decision to me. The lens in which we are making that decision is through the lens of our people. We employ over 200,000 people in this company, and we want to embrace diversity—of all kinds. If you feel, respectfully, that you can get a higher return than the 38% you got last year, it’s a free country “You can sell your shares in Starbucks and buy in another company. Thank you very much.”
To which, the crowd erupted in applause. This shareholders crowd might have been pleased with Starbucks decisions but other groups are very annoyed. Websites like “DumpStarbucks.com” and manny others have popped up who aim to boycott the company as long is it remains opposed to Biblical marriage. Dump Starbucks has a petition that has over 49,000 signatures against Starbucks. Many shareholders are taking Schutlz’s advice and are indeed selling their shares.
“STarbucks brews crappy coffee anyway”
Expensive crappy coffee, at that!
Already did. Bought in '09 and sold in '12. Thank you very much.
I can honestly count on 1 hand the Times I had Starbucks coffee. It sucked every time. There is an acidic, burnt quality to it that I can stand. And I like dark coffee.
Well, probably a good thing but have never understood the Apple thing myself. They certainty are doing well in the market though and so many folks like their products regardless of their high prices. Not sure that the absence of Jobs is relevant though as their products continue to do well. I really think that it is more of a cultist thing but it is certainly working for them.
Considering that this Ahole somehow manages to turn one pound of coffee into 666 cups of weak tasteless dishwater at $5 each -— maybe it’s worth keeping his stock despite his filthy immoral personal “lifestyle preference?” Im not above a little practicality from time to time -— what do u think of Starfucks as an Investment?
Right you are - Absolutely my impression, too.
Starbucks over-roasts crappy coffee beans in order to create a strong tasting brew. (Burnt tasting)
Utter over - hyped crap brew, compared to other small mom & pop, small franchise coffee.
Starbucks also has said that they will begin to prohibit firearms in their establishments.
even their supposedly more ‘healthy’ fast food items look nothing like the menu photos . Typical microwaved / fast oven toaster melted snacks .
never again
The Starbucks CEO should back his words with action. Close all his joints in Indiana and other states that disagree with his policies. That will show them.
Buy low sell high.
Another CEO obsessed with homosexuality. This is some weird sh*t. Greed can do some weird things to the minds of these people.
Howard Schultz grew up in a Brooklyn housing project, and after snagging a football scholarship from Northern Michigan, he became the first in his family to graduate from college. He landed a marketing gig at a small coffee bean store called Starbucks, traveled to Italy and wanted to open an espresso bar back home. His Starbucks bosses dismissed his idea, so he started a rival store in 1985, making his java with Starbucks beans. Two years later, Schultz bought Starbucks from his bosses two years later for $3.8 million. This is Schultz’s second time running Starbucks—he left in 2000 for eight years—and he has dramatically reversed the company’s slide. Starbucks’ market cap has nearly quadrupled since his return. Through Schultz’s VC firm, Maveron, he holds stakes in Groupon, eBay and Pinkberry frozen yogurt. Schultz’s plan to pay for all his employees to get a degree has grabbed headlines; his name has been pushed forward as a dark-horse presidential candidate in 2016, though he has made no official noises about a campaign. Pal David Geffen, the record label billionaire, is reportedly a strong supporter of the idea.
You mean all the “organic” snacks that the vegans get orgasmic about? Yeah, I’ll have on of those $5 turnovers with the broccoli filling ... Mmmm, taste just like sh*t!
Ps: a corporate officer has a fiduciary duty to his employer This guy is shooting his mouth off in a manner that undercuts the firm with many of its owners, Investors, and customers. Needlessly. Starfucks already obviously enjoys much of the homisexual trade anyway. Not much more to be gained there. He’s using his corporate position to advance his personal lifestyle preference even though this harms the firm. He should be replaced asap with someone more mindful of the duties of the job. This would also give this current fellow more time to have fun at whatever bathhouse or glory hole he may prefer
Just a link.
Those people are fanatical crackpots.
What if you’re against Polygamous Marriage and Incestuous Marriage, same deal?
One of the product sales you will not make tomorrow and
every day after will be to me. On second thought, how
about a list of Starbucks stores located in South Central LA?
I might reconsider if you would put your money where
your raciss mouth is.
For what does it profit a man if he gain the whole world...
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