Starbucks' Chief Executive Officer Howard Schultz has announced that the company will begin accepting donations online and in stores of $5 or more to promote job creation, starting Nov. 1. Starbucks is partnering with Opportunity Finance Network, to form "Create Jobs for the USA," which represents institutions that provide credit for small businesses,according to The Washington Post.
The move comes after Schultz pledged to "withhold any further campaign contributions to the president and all members of Congress until a fair, bipartisan deal is reached that sets our nation on stronger long-term fiscal footing," as OpenSecrets Blog previously noted. More than 100 other corporate executives have also made the pledge.
Schultz is no newcomer to the finances of the political world. According to research by the Center for Responsive Politics, Schultz, along with his wife, Sheri, has donated $183,650 to federal candidates and political committees since the 1994 election cycle when he made his first known donation. Of that sum, 95 percent has benefited Democrats, including $100,000 to the Democratic National Committee over the years. Only $1,000 has benefited a Republican -- the 2000 presidential campaign of Sen. John McCain (R-Ariz.). The remainder has gone to nonpartisan political action committees.
Despite these sizable past contributions, it seems Schultz is now taking his concerns for the American job market to the people. Nearly 70 percent of Starbucks locations will be accepting donations across the country. Will Starbucks customers show their support not only for freshly brewed signature coffee but for directly stimulating the creation of jobs?