Tuesday, August 16, 2011

Starbucks CEO Calls for Boycott on Political Contributions

If a known supporter of Democratic candidates says something wise or remarkable, we will give proper credit. Howard Schultz, CEO of Starbucks, has called on business executives to withhold the money they would donate to politicians, according to an article in the Chicago Tribune.

...In his letter Monday, Schultz invited executives to join him in a "pledge to withhold any further campaign contributions to the president and all members of Congress until a fair, bipartisan deal is reached that sets our nation on stronger long-term fiscal footing."

Schultz also urged fellow CEOs to invest in projects or new products that will perk up the economy at a time when fear and uncertainty have made businesses unwilling to invest, consumers unwilling to spend and banks unwilling to lend.

"Record levels of cash are piling up in corporate treasuries, idling," he said. "The only way to break this cycle of fear is to break it."

From January through August of this year, Starbucks has hired 36,000 employees in the United States and Canada, 15 percent more than a year earlier.

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