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

Howard_schultz

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.

Comments

  1. me_in_pdx says

    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.

  2. Clay says

    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.

  3. FrankLeeMyDear says

    “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.

  4. bambinoitaliano says

    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.

  5. Alan says

    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.

  6. mikro says

    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 !!

  7. says

    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.

  8. Ken Hershenson says

    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!!!

  9. Jerry6 says

    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.

  10. Bill says

    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.

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