Starbucks Stock Tumbles over Public Outcry

02 Apr

Stock is gradually decreasing as over 90% of Christian patronage agreeing to boycott, similar to the Chick-Fil-A incident but to the opposite point of view and trend.

Summary from other articles:

NEW YORK (CNNMoney) Starbucks CEO Howard Schultz dug in his heels about gay marriage after an investor complained that the company’s support was eroding its bottom line.

“If you feel respectfully that you can get a higher return [than] the 38% you got last year, it’s a free country,” said Schultz, during the annual shareholders meeting on March 21. “You could sell your shares at Starbucks and buy shares in other companies.”

Many major companies have publicly taken a stance on gay marriage. Dan Cathy, CEO of Chick-Fil-A, announced his opposition to gay marriage last year. Business surged as customers lined up at the fast food chain to show their support, while gay couples staged a “kiss day” in protest.

—- From another article in
Charisma News by Daniel Norris: What the Church Can Learn From Starbucks’ Bold Stance on Gay Marriage

Leaders justify the silence, saying, “This is an issue we have chosen not to focus on.” They remind their members that the church is supposed to be a house full of compassion and that the best way to win is with love.

This is only half true. The church is at its best when it is full of compassion and full of conviction. That is the example Jesus set. He was unconditional in His love, and He was unwavering in his conviction. It was His love that drew the multitudes, and it was His convictions that drove them away. His radical commitment to both changed the world.

There is a cost to doing what is right—especially when the prevailing winds of public opinion are blowing against you. Starbucks has polling data on its side. The church is now finding many of its convictions on the opposite side of that fight. Are we willing to put our money where our mouth is and stand up for what we know is right?

Shultz added if you don’t like their position, then “sell your shares.” He made it clear that Starbucks will not compromise its convictions to keep you in their company. It is time spiritual leaders do the same!

From the Washington Times article by Tim Devaney: Offended by the decision of Starbucks chief Howard Schultz to support gay marriage, a Christian organization is seconding the CEO’s demand that Christian shareholders sell their stock in the ubiquitous coffee chain.   “Christians and pro-family groups across the United States have contributed significantly to the economic success of Starbucks,” said American Family Association President Tim Wildmon in a statement. “However, we can certainly honor Mr. Shultz’s request to take our business elsewhere.”

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Posted by on April 2, 2013 in RELIGION, SOCIAL, US POLITICS


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