Starbucks: At what price liquor partnership?
"Is Starbucks evil?" asks J. Craig Williams, who gets right to the point in this post about Starbucks' decision to partner with Jim Beam to offer coffee liqueur. He reports that an investor, Pax World Funds, has pulled the plug on its $23.5 million investment in the coffee giant -- after first requesting Starbucks to drop the alcoholic concoction.
"What? Did they think the "bucks" part of the name had nothing to do with profit? Liquor makes money; it has always made money and it will continue to make money. If there's one constant in the world ... well, add a few more like tobacco, gambling ... and you get the idea. The question I have is this: Will Pax World's investors back up the decision to back out of Starbucks, and likewise boycott their morning fix? Or will the profiteers back out of Pax World and instead invest in another mutual fund with profit as a pure motive?"
What do you think? Williams is open to comments here.
Posted by Laurel Newby on March 25, 2005 at 10:58 AM | Permalink
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