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.
I couldn’t agree more.
I love it when lines are drawn.
I don’t patronize the franchise, but I have had co-workers “treat” me to some of their coffee over the years (perhaps as many as three or four such occasions). In my opinion, it isn’t so much that the coffee is particularly strong (I have had far stronger stuff on hunting trips), but rather over roasted to the point that it has an odd aftertaste. It is a matter of personal taste, to be sure, but I am simply not a fan of the nearly burnt taste and aftertaste.
We don't own any shares but we do go to a Starbucks about twice a month for coffee. I'm sure they won't miss our business. After all, what is $100 a year to them? Chicken feed.
He should be, but he won’t...the phan bois of SBUX are all in full agreement with him...
As for their in store coffee, it is over roasted to make room for all of the garbage they put in it. So yeah, for those of us who drink our coffee “decreamed”, it’s nasty.
But SBUX does make good coffee...they make the best individual serve sachets [VIA - Italian Roast or Colombian] around, period. It is not freeze dried garbage...now, as a result of this statement, I have to find an alternate coffee for backpacking trips as this is what I always took.
Only by the standards of those suffering from an inferiority complex because Apple fans are so pleased with their purchase.
Dayum...
There are three just within 10 miles of each other here.
So, you're in the L.A. area? My hat's off to you, FRiend; I escaped California in 1976 and only return to visit family and friends still there.
I agree with you.
Personally I drink Dunkin Donuts and find the help there not nearly as snooty.
better yet, Starbuck’s will never cross my lips again.
You give them success and food on the table and they spit in your face.
Yeah, they are a nasty , unprincipled bunch.. oh,, and sick? Yes, very.
You give them success and food on the table and they spit in your face.
Yeah, they are a nasty , unprincipled bunch.. oh,, and sick? Yes, very.
The good leftists don’t want the best health for their patrons?! What?! Black coffee has proven health benefits and Starschmucks if forcing customers to buy crap to make their coffee taste good! How dare they!
:-)
We call it sixbucks. What a rip off.
...a shareholder complained to Billionaire CEO, Schultz about the fact that Starbucks has lost customers because of its support of gay marriage.
You give them success and food on the table and they spit in your face.
Yes, they do everything the can to undermine the very system that they take advantage of and enjoy.
Old news.
This exchange took place TWO YEARS AGO at the 2013 annual meeting.
In the two years since the CEO made this statement, the DOW is up 23%. Starbucks is up 64%.
You nailed it sir! Not what you meant to say but it came across as expected by an Apple enthusiast! Can you tell me why others would have an inferiority complex about Apple devices? Other than price... Why would those that own them have a superiority complex?
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