Billionaire Starbucks CEO Schultz Doesn't Want Unions

[Yo_Mama_Been_Loggin]

Billionaire Howard Schultz turned Starbucks from a tiny company to one of the largest restaurant chains in the world. He has returned as chief executive officer after several years away, the third time he has led the company. Some observers believe one reason for his return is management anxiety over a move by workers to unionize, city by city. On that matter, Timothy Hubbard, assistant professor of management at the University of Notre Dame’s Mendoza College of Business, commented, "My sense is that if they want to shut down the unions, this is the best course of action Schultz has what it takes to tackle a hard topic like unions."

Schultz repeatedly has made the argument that Starbucks workers are treated so well that a union is unnecessary. In October, the company said it would move its hourly wage floor to $15. In a period of rapid inflation, that can hardly be called a living wage. According to Forbes, he is doing much better than that, as he has a net worth of $5 billion.

It is not as though higher wages for Starbucks workers would cripple the company financially. In its most recently reported quarter, it posted revenue of $5.7 billion, up 23% from the same period the year before. Operating income was $1.1 billion, or 35% higher. Management views the company's success as so robust that it plans to open thousands of more locations over the next several years.

It will be interesting to see what Schultz says in public about the union issue. He loves the limelight. He hinted he would run for president in 2012, 2016 and 2020. He decided against the effort in each case, perhaps because the wage issue would be a hindrance.

https://www.msn.com/en-us/money/companies/billionaire-starbucks-ceo-schultz-doesnt-want-unions/ar-AAVFqCQ

[Blue Owl]

1. I bet he wants a yacht, however... or a second yacht...

[Skittles]

2. I will never understand the appeal of Starbucks

and I am a caffeine FIEND

[OldBaldy1701E]

6. That is because you have good taste in coffee.

We all call it 'Charbucks'...

[Skittles]

7. I had to ban it from our work coffee club due to the complaints

what was bizarre was, some of the people complaining were Starbucks "fans" -

[Skittles]

8. I wouldn't say I am too picky

but Starbucks is just plain nasty - I'll take Folgers over that bitter dreck any day

[OldBaldy1701E]

9. I am a trained barista

And, I am a bit picky. And, I would also take Folgers over Charbucks any day!

[walkingman]

3. Same here but even in the suburbs of Austin it has lines around the block. Must be

good marketing??

[OldBaldy1701E]

5. Good brainwashing is more like it.

Last edited Sun Apr 3, 2022, 08:05 AM - Edit history (1)

Of course, most people would not know a decent cup of coffee if it were handed to them anyway, but the big corporations' ability to convince the population that their burnt beans are in any way good is typical of how 'uber-branding' works.

Oh, also bear in mind that they got to where they are by going all in on advertising to get young new drinkers who would not know a good cup of coffee if it came in a gold cup from the Pope himself. By flooding the market with sugary coffee drinks that appeal to the younger crowd, they basically created a new generation of drinkers who have no idea what they are drinking.

[dchill]

4. His net worth is $5 billion. The time for a union is way past.

It's coffee.