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Here's Video of Starbucks CEO Howard Schultz Telling Shareholder to Sell if He's Unhappy with Pro-Gay Policies: WATCH

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Earlier this week I posted about the Starbucks shareholder meeting at which CEO Howard Schultz told shareholder Tom Strobhar to sell his shares if he's disappointed with the company's support for marriage equality.

Now here's video of some of Schultz's remarks. Watch it, AFTER THE JUMP...

What Strobhar said as reported by KPLU: “In the first fill quarter after this boycott was announced, our sales and our earrings — shall we say politely — were a bit disappointing.”

Schultz responded by saying not every decision the company makes is an economic one: "The lens we use to make decisions is the lens of our people. We want to embrace diversity...If you feel, respectfully, that you can get a higher return than the 38 percent you got last year, it’s a free country. You can sell your shares of Starbucks and buy shares in another company. Thank you very much."

As you can see by the thunderous cheering and applause, shareholders were overwhelmingly on Schultz's side of the issue.

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Comments

  1. Almost makes me want to buy shares in Starbucks despite the fact that I absolutely can't stand coffee.

    Posted by: Husky | Mar 24, 2013 11:27:32 AM


  2. OUCH!!! That must have stung!

    Posted by: Taylor | Mar 24, 2013 11:29:17 AM


  3. Starbucks is the opposite of Chick Fil A.

    Posted by: Mercedes | Mar 24, 2013 11:37:13 AM


  4. That was awesome. That CEO pretty much gave the finger to that "shareholder" with elegant words. The "shareholder" must have felt like a tiny bug in a jungle.

    Posted by: me_in_pdx | Mar 24, 2013 11:46:29 AM


  5. And at the same time, it's actually smart business sense to be pro-equality and pro-diversity. In the long run those businesses that embrace progress, diversity, and equality last longer and are more profitable. This is why businesses in the most competitive industries, like tech and IT, were among the first to have gay-friendly employment policies, etc. They couldn't risk having any door closed, so to speak, that a competitor could have open.

    Posted by: Clay | Mar 24, 2013 11:52:17 AM


  6. “In the first fill quarter after this boycott was announced, our sales and our earrings — shall we say politely — were a bit disappointing.”

    The earrings might disappointing but so long as the caftans are okay, no problem.

    Posted by: FrankLeeMyDear | Mar 24, 2013 12:21:10 PM


  7. Nah, Gay people just spend more and drink more coffee. Not quite Grindr but still a place in an urban city where you get to meet the like minded. I'm sure a couple of the Barista are easy on the eye too. I kid, I kid.

    Posted by: bambinoitaliano | Mar 24, 2013 12:24:00 PM


  8. Husky, why would you make an investment decision by whether you used the product or not? However, if you really want to support them you could buy tea or a scone.

    Posted by: Alan | Mar 24, 2013 12:29:43 PM


  9. Makes me proud that I retained a few (& I mean a few) shares from purchase many years ago. Sorry, I didn't fly west for meeting nor did I sign up for webcast. Really,annual meetings? Only thing more boring Annual Report.
    But this was a MOMENT !! Way to go Howard !!

    Posted by: mikro | Mar 24, 2013 12:53:28 PM


  10. One of the most progressive companies I've ever worked for!

    Posted by: dumbnhung | Mar 24, 2013 12:55:18 PM


  11. I think I'll get a Starbucks today.

    Posted by: drew | Mar 24, 2013 1:02:53 PM


  12. What a beautiful man !!!

    Posted by: PAUL B. | Mar 24, 2013 1:41:25 PM


  13. This was f*cking awesome and I've already had my daily Starbucks, thankyouverymuch...

    Posted by: RONTEX | Mar 24, 2013 2:09:11 PM


  14. I prefer this title, "CEO gives a classic business FU to a bigot and wipes the floor with him!"

    Thank you Mr. Shultz!

    Posted by: Javier | Mar 24, 2013 2:58:52 PM


  15. Awesome! Although it's great to see his openness to equality, I do think that there are some political motivations behind it--coffee shops in tendy, urban areas seem to be popular with gay and lesbians...this probably solidify their customer base.

    Posted by: MuscleModelBlog.com | Mar 24, 2013 3:11:57 PM


  16. @Husky,

    I don't drink coffee either, but Starbucks has a delicious peppermint hot chocolate that I go out of my way to buy.

    Posted by: Laura | Mar 24, 2013 3:45:17 PM


  17. It would be interesting to know how many shares of Starbucks Mr. Schultz owns. One share would get him some time to practice his bigotry.

    Posted by: daeds | Mar 24, 2013 4:07:58 PM


  18. Here's a perfect chance for people to actually say they are frequenting Starbucks more BECAUSE of the narrow minded uber Conservative boycott. They want to make it political? Then how about people doing the opposite of a boycott!!!! I'd love to see some articles about people who say they really didn't like Starbucks coffee but have now decided to take their business there to show their support of tolerance and progressive thinking!!!

    Posted by: Ken Hershenson | Mar 24, 2013 9:01:43 PM


  19. If only all CEOs were like this!

    Posted by: Shannon | Mar 24, 2013 9:09:58 PM


  20. Is it me or is he getting hotter my the speech?

    Posted by: Lindoro Almaviva | Mar 24, 2013 9:34:57 PM


  21. I'm buying Starbucks today.

    Posted by: Betty Treacle | Mar 25, 2013 4:34:13 AM


  22. Too bad the audio was so bad that I really could not understand what he was saying. But I believe I got the jist of it being pro Gay. Thank you, Sir.

    Posted by: Jerry6 | Mar 25, 2013 10:45:49 AM


  23. Getting a 38% return on his investment, I doubt that bigot is going anywhere else.

    Posted by: andrew | Mar 25, 2013 4:28:43 PM


  24. I once heard a billionaire CEO, complaining about the government during the Bush years, when the Republicans were trying to run against same-sex marriage, go on about how Congress should be dealing with X, Y and Z (various economic issues), instead of arguing about who could marry whom.

    Posted by: Bill | Mar 25, 2013 7:11:53 PM


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