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Starbucks ‘Turnaround’ On Obama-Care

In honor of the first anniversary of the signing into law of Obama-care, we harken back to this interview in the Seattle Times from last week:

Starbucks CEO Howard Schultz discusses turnaround

As Starbucks approaches its 40th birthday later this month, its profits and share price have bounced back. It’s a Wall Street darling again, thanks to new products like instant coffee, a new strategy that focuses on international growth, and a quarterly dividend.

By Melissa Allison
Saturday, March 12, 2011

[After having answered numerous questions about climate change and recycling with very politically correct answers…]

Q: Starbucks was vocal about [wanting] health-care reform. How do you feel about how it worked out?

A: We have been a leader for almost 20 years now in demonstrating our heartfelt commitment to making sure that we provide health coverage for the majority of our people.

That cost last year was $250 million. We have faced double-digit increases for almost five consecutive years with no end in sight.

So, when I was invited to the White House prior to health care being reformed, I was very supportive of the president’s plan, primarily because I felt it was literally a fracturing of humanity for almost 50 million Americans not to have health insurance.

There’s no plan that would be a perfect plan, but the intent of the bill and the heartfelt commitment to insure the uninsured is the right approach. I think as the bill is currently written and if it was going to land in 2014 under the current guidelines, the pressure on small businesses, because of the mandate, is too great

If Mr. Obama has lost prominent supporters like Mr. Schultz and the rest of the Starbucks crowd, has he lost the healthcare war?

(Cf. Cronkite and Vietnam.)

This article was posted by Steve Gilbert on Wednesday, March 23rd, 2011. Comments are currently closed.

5 Responses to “Starbucks ‘Turnaround’ On Obama-Care”

  1. Rusty Shackleford

    Shultz=True Believer. In other words, he didn’t get the memo that “healthcare reform” wasn’t about healthcare at all.

  2. JohnMG

    ……”the pressure on small businesses, because of the mandate, is too great……”

    Shultz: I knoooooooow nussing!!

  3. proreason

    Write this down.

    People are only motivated by ideology when they think the ideology furthers their self interest.

    Starbucks management thought the Unaffordable Health Care Act would save them money. Now they know it won’t. That explains 100% of the reversal.

    The crap about “fractured humanity” was bullshit. 100% bullshit.

  4. BigOil

    It is sad that any CEO would not be smart enough to understand that a government takeover of healthcare will produce bad results. Even a minimal level of knowledge of economics, history, and common sense should lead you to the conclusion government will screw the system up.

    Did this guy actually believe you can cover 50 million more Mexicans people (he doesn’t even know the correct number) without raising costs and reducing the quality? In the end, the bill has to either be paid by the wealth creators… i.e. his company – or we kill off the old people.

    • JohnMG

      Since I’m an “old people” I vote for option #1 if that’s the only two choices. But here’s a novel idea. How about we all get together and repeal that monstrosity?


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