Talk about a disingenuous statement. What has Schultz’s wealth to do with the operation of a publicly traded company.? Schultz owns less than 2% of Starbucks stock. Who really owns Starbucks? Chances are you are an owner if you invest in mutual funds in your 401k or IRA or simply as an investor in a large cap mutual fund.
But here’s the thing, Reich knows there is no connection. Reich also knows that when worker pay and benefits increase so does the price of goods and services offered by their employer – modestly adding to inflation too. Reich also knows that Starbucks minimum hourly rate is what by definition is a living wage – $15.00 an hour.
So, why would Reich make such a statement?
Pure divisive progressive politics that are not in the best interests of any worker, any citizen.
Divide the cost of the yacht by Starbucks employees and you get $592 or the equivalent of twenty-eight cents and hour – for only one year, of course.
Well, it is a good thing Howard sold most of his stock. Idiots like this guy have pushed policies that have caused such disruption so that instead of opening stores, Starbucks is closing them.
What has this guy and other lifelong Democratic politicians and progressive academics built, anyway? How many jobs have they created? And, don’t point to Nike or Apple and similar firms which often leverage foreign, sometimes child labor.