You mean the WORLD'S LARGEST TRUCKSTOP!
Posted on 07/25/2005 1:04:07 PM PDT by gridlock
Porn, pork and Pabst -- you're safe from them at Caribou Coffee. In an SEC filing last week for its initial stock offering, the Brooklyn Center-based coffeehouse chain noted that it operates its business according to the Islamic principles known as Shari'ah.
"A Shari'ah-compliant company is prohibited from engaging in derivative hedging transactions such as interest rate swaps or futures, forward options or other instruments designed to hedge against changes in interest rates or the price of commodities we purchase," Caribou said in its filing. "Also, a Shari'ah-compliant company is prohibited from dealing in the areas of alcohol, gambling, pornography, pork and pork-related products."
Atlanta-based Arcapita Inc. owns 84 percent of Caribou. Arcapita is the U.S. private-equity arm of Arcapita Bank B.S.C., a Bahrainian investment group
(Excerpt) Read more at startribune.com ...
Capitalist? CINO, more likely, or at least, capitalist only when it suits them. See post 76.
I didn't know caribou sold anything. Shows what I know.
They've taken loans and they do pay interest, they just don't call it that.
Caribou owns the contract for the Mall of America.
"Carabou is owned by Islamists?"
I have heard, and as I recall it was a serious article, stating Caribu is owned by Palestinians and Starbucks is
owned by Jews.
Probably not - liquor licenses are expensive.
next thing ya know, I'll have to drink my coffee at HOME !
What did Mohammed have against hedging transactions? I suppose Islam strictly prohibits forming special purpose entities to remove debt from your balance sheet as well.
Somehow, "thou shalt not kill" is so much clearer. :)
They sell good coffee, but not another cup to me....starting today...
You mean the WORLD'S LARGEST TRUCKSTOP!
I never knew those guys with crew cuts under their cowboy hats, wearing flannel shirts and blue jeans, that smell like cow$#!+ at my local Starbucks in Allen, TX were hippies! Thank you for enlightening me, sir!
Starbucks is terrible, better to roast your own at home, but I'm not buying another cup of Caribou starting today.
Now that's disgusting. I'd rather deal with the hippies.
Caribou is owned by an investment group "based" in Bahrain (actually, it's actual headquarters are in London, with a large NY office).
The investment group is totally clean- approved by the State Department as well as Fannie Mae, Bank of America etc. These investors aren't Jihadis- they're just a bunch of rich transnationalists who happen to be (ostensibly) Muslim.
Sharia coffee. Interesting in view of their defacto denials of the Islam connection in the past. "the Islamic Shari'ah referred to not eating pork or ham as similar to Jewish dietary laws. "...we just had to remove the ham sandwiches from our stores." Just an innocent, arms length investment, doesn't mean a thing.
...................
Summary: Recently, email has been going around about Caribou Coffee claiming majority ownership by an Islamic investment company with ties to a radical Islamic terrorist organization. No boycott was directly called for, but the author was clearly suggesting one.
UPDATE!!!!! 6-17-02 # 1 of 4 Read about it in the NY Post http://www.nypost.com/postopinion/opedcolumnists/50463.htm
UPDATE!!!!! 6-17-02 # 2 of 4 First Islamic Bank has apparently modified its web site to remove the name of Dr. Yusuf Al-Qaradawi and removed the Shari'ah web page to possibly cover up a relationship with an Islamic Terrorist group.
UPDATE!!!!! 6-17-02 # 3 of 4 Boycott Watch spoke to Don Dempsey, President of Caribou today and he emphatically denied First Islamic Bank of having any terrorist ties. He further said that Dr. Yusuf Al-Qaradawi was nothing more than a consultant and is not an officer of First Islamic Investment Bank. Mr. Dempsey stated that the Islamic Shari'ah referred to not eating pork or ham as similar to Jewish dietary laws. "...we just had to remove the ham sandwiches from our stores." said Mr. Dempsey in a phone interview.
UPDATE!!!!! 6-17-02 # 3 of 4 Boycott Watch spoke to Don Dempsey, President of Caribou today and he emphatically denied First Islamic Bank of having any terrorist ties. He further said that Dr. Yusuf Al-Qaradawi was nothing more than a consultant and is not an officer of First Islamic Investment Bank. Mr. Dempsey stated that the Islamic Shari'ah referred to not eating pork or ham as similar to Jewish dietary laws. "...we just had to remove the ham sandwiches from our stores." said Mr. Dempsey in a phone interview.
Steven Emerson, in his book 'American Jihad: The Terrorists Living Among Us' defined Islamic Shari'ah differently.
UPDATE!!!!! 6-17-02 # 4 of 4 Reports from a relaiable source say Steve Emerson and Daniel Pipes confirmed the relationship with the radical Islamic group. A short version of the article will appear in the 6-18-02 New York Post.
Original Email
Caribou's Reply
A research report gratuitously sent to us
Findings and Opinion
----- The Original Email: -----
Subject: Caribou Coffee
Looks like I will be going to Starbucks from now on. As you will see from the links below, Caribou Coffee is owned 87.8% by the First Islamic Investment Bank which, among other things has the following philosophy:
"Above all, ensuring that all activities conform to Islamic Shari'ah"
The chairman of their Shari'ah supervisory board is: Dr. Yusuf Abdullah Al-Qaradawi Chairman, Seerah & Sunnah Center, Qatar University; Professor, Faculty of Shari'ah, Qatar University.
As you will see from the links below he is also on the supervisory board of "Union for Good" which is a charitable organization to support Palestinians. Nothing wrong with a charity to help Palestinians, but here is a quote from the Union for Good web site:
The Al-Aqsa Intifada is the latest of a long line of affliction faced by the people of Palestine. Its ancestry dates back to the massacre of innocent men, women and children in villages such as Deir Yaseen and the illegal occupation of Palestine in 1948.
You get the picture. Starbucks here I come!!!
http://www.firstislamic.com/sharia.htm
http://www.firstislamic.com/caribou.html
http://www.interpal.org/web/supervisory.htm
http://www.interpal.org/web/cbackground.htm
As another follow up, quick web searching confirms that Caribou Coffee is owned by Crescent Capital, which is a subsidiary of the First Islamic Investment Bank of Bahrain. Of note, this same group recently purchased a small airplane manufacturing company in Duluth, Cirrus Design. Imagine that!
That's it. No Caribou Coffee for me. If you agree, I think you should pass on this information to interested parties.
----- End Of Original Email: -----
(Click here to return to top of page)
----- Caribou's Reply: -----
Caribou is a classic American growth company, founded in Minnesota and now employing over 2,900 Americans in 9 states. Caribou has approximately 99 shareholders and option holders, including management, employees and the original founders John and Kim Puckett. A majority of our stock is owned by a group of international investors led by First Islamic Investment Bank, E.C., a highly respected and purely financial organization based in Bahrain and regulated by the government of Bahrain, a strong U.S. ally in the Middle East and the headquarters of the U.S. Navy's 5th Fleet. The recent investment by this group has enabled Caribou to continue expanding its store base in the U.S.
We are extremely concerned about accusations that an outside advisor to First Islamic has made statements that do not reflect the views of either Caribou or any of its shareholders, and we categorically reject any attempt to link such statements to Caribou. The person in question is not an employee or shareholder of either First Islamic or Caribou, and neither we nor our shareholders have any control over this person's political views. We have made First Islamic aware of the statements and understand that this relationship is under review.
Any concerns that anyone involved in ownership of Caribou condones terrorism are totally unwarranted. Our ownership has no political agenda and is 100% opposed to terrorism of any kind, anywhere - period.
Caribou Coffee Company
----- End Of Caribou's Reply: -----
(Click here to return to top of page)
----- Findings and opinion: -----
Information presented to us indicates that a principal in the First Islamic Investment Bank is a board member of a radical Islamic organization that teaches hate and has direct ties to terrorism, if not a direct supporter or terrorist organizations.
Probably not porn, too. At least Starbucks is run by Americans. That's my point.
hrmn.
the only Caribou Coffee I have ever been in is on Piedmont, next to the park of the same name, in Atlanta.
Its normal patronage is *extremely* gay.
Now Caribou is going jihadi-symp?
Strange bedfellows...
But of course it must be perfectly okay for Muslims to short airline stocks when you know you're going to perpetrate 9-11.
Do yourself a favor - buy a water filter pitcher and use a superb coffee like Illy or Bristot. You'll get a cuppa that beats heck outta anything that Starbucks or Caribou produces. I do this for my wife every morning.
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