Starbucks CEO Howard Schultz Takes On Commodity Speculators
video here:
http://www.channel4.com/news/catch-up/display/playlistref/110511/clipid/110511_eco (http://www.channel4.com/news/catch-up/display/playlistref/110511/clipid/110511_eco)
Associated news item:
http://www.channel4.com/news/starbucks-boss-schultz-attacks-high-coffee-prices (http://www.channel4.com/news/starbucks-boss-schultz-attacks-high-coffee-prices)
Quote
The current high price of coffee on commodity markets is down to "financial institutions orchestrating an unnatural acute rise" Starbucks Chief Executive Howard Schultz complains to Channel 4 News.
For many commentators Starbucks Chief Executive Howard Schulz is something of a poster-boy for global capitalism. As the boss of a chain of coffee shops that spans the world, the fact that coffee is currently at a 34-year high on world commodity markets is naturally of concern. But Mr Schulz maintains that the fact that not just coffee, but most agricultural food commodities are all at a record high is not down to issues of supply and demand:
"We are seeing a seismic change in the cost of commodities and ultimately the cost of food in grocery stores at a time when we have high unemployment. I just think it's inapproriate that there are a group of financial institutions who are somehow orchestrating an unnatural acute rise in commodity prices that ultimately will create a windfall profit for a select few and a significant problem for a whole host of people,"
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read the rest of the article on the above link.
This is what I like to call 'marketing your brand'.
Inflated prices? Starbucks should be the last to bitch about that lol
So, increasing demand isn't an issue?
Any evidence to back up his claims?
Quote from: Monoriu on May 11, 2011, 08:15:51 PM
Any evidence to back up his claims?
I think it's similar to the "gas price gouging" meme that politicians like to trot out when the price for gas spikes.
Quote from: Monoriu on May 11, 2011, 08:15:51 PM
Any evidence to back up his claims?
Evidence to support the claim that "there are a group of financial institutions who are
somehow orchestrating an
unnatural acute rise in commodity prices?"
Protocols of the Elders of Zion, I should think.
Quote from: HVC on May 11, 2011, 08:06:25 PM
Inflated prices? Starbucks should be the last to bitch about that lol
lolz