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Starbucks CEO Announces Initiative to Create Jobs
Starbucks CEO Howard Schultz hopes customers in more than 6,500 stores will leave his establishments with not only drinks in their hands, but also red, white and blue bracelets on their wrists.
Schultz announced today that the "Create Jobs for USA" initiative, in partnership with the Opportunity Finance Network, a collection of community lenders, will use donations to make loans to local businesses that have difficulties securing financing.
Starting Nov. 1, Create Jobs for USA will begin accepting donations online and in Starbucks stores. Every donor who contributes $5 or more will receive a bracelet inscribed with the word "Indivisible."
"The country is not in a crisis. This is an emergency," Schultz told ABC News. "There is a tremendous problem with small businesses in America getting access to credit. ... Right now we can't wait for Washington. Businesses and business leaders have to recognize that we have a shared responsibility in trying to make a difference."
The Starbucks Foundation will donate $5 million to kick off the "Create Jobs for USA Fund" and, according to the Opportunity Finance Network, each $5 donation will allow for $35 in financing from community lenders. The network estimates that one job will be created for every $21,000 in loans or about $3,000 in donations.
http://abcnews.go.com/Business/Econ...nces-initiative-create-jobs/story?id=14656499
down with corporate america!!!
Starbucks CEO Howard Schultz hopes customers in more than 6,500 stores will leave his establishments with not only drinks in their hands, but also red, white and blue bracelets on their wrists.
Schultz announced today that the "Create Jobs for USA" initiative, in partnership with the Opportunity Finance Network, a collection of community lenders, will use donations to make loans to local businesses that have difficulties securing financing.
Starting Nov. 1, Create Jobs for USA will begin accepting donations online and in Starbucks stores. Every donor who contributes $5 or more will receive a bracelet inscribed with the word "Indivisible."
"The country is not in a crisis. This is an emergency," Schultz told ABC News. "There is a tremendous problem with small businesses in America getting access to credit. ... Right now we can't wait for Washington. Businesses and business leaders have to recognize that we have a shared responsibility in trying to make a difference."
The Starbucks Foundation will donate $5 million to kick off the "Create Jobs for USA Fund" and, according to the Opportunity Finance Network, each $5 donation will allow for $35 in financing from community lenders. The network estimates that one job will be created for every $21,000 in loans or about $3,000 in donations.
http://abcnews.go.com/Business/Econ...nces-initiative-create-jobs/story?id=14656499
down with corporate america!!!