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Saturday, March 23, 2013
At Starbucks' annual shareholders meeting in Seattle, Wash., on Wednesday, CEO Howard Schultz told off an investor who tried to argue that the company's support for gay marriage is bad for business. After shareholder Tom Strobhar called the company's sales and earnings "a bit disappointing" in the first full quarter after the support was announced, Schultz said it wasn't about making money, but about the principle of diversity. He then said, "If you feel, respectfully, that you can get a higher return than the 38 percent you got last year, it's a free country. You can sell your shares of Starbucks and buy shares in another company. Thank you very much," Schultz said, to applause from the audience. Advertisement
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More Last year, Starbucks endorsed a Washington state bill to legalize gay marriage, and released a statement saying it was "deeply dedicated to embracing diversity." The bill later became law. Strobhar is the founder of the anti-abortion, anti-gay marriage Corporate Morality Action Center and has been a vocal opponent of progressive causes. Comments
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