Clear Fog Blog

Political musings from Warren E. Peterson

Starbucks Annual Meeting – Seattle’s Premium Entertainment Event

Posted by Warren Peterson on March 20, 2014

Every year Starbucks shareholder meeting (Click HERE to view it) features inspiring individuals and performers along with company performance data and factoids. For instance, did you know that during the most recent holiday season, 1 in 8 adult Americans received a Starbucks gift card? Or that a small Seattle coffee company launched in 1992 with 125 stores now has over 20,000 stores and 200,000 partners (employees) worldwide? This year’s meeting, however, topped them all. Yes, there was a great band (unfortunately not on the video), free coffee, lattes and “fat pills” (pastries) and the usual goodie bag handed out at the meeting conclusion but this year Oprah was there. She and CEO Howard Schultz sat down in a stage set like Oprah’s TV show to talk about two topics, her love of Chai tea and her charities. On the former, she and Schultz announced Oprah’s Chai Tea would be available by Mother’s Day. She had come to Seattle earlier to personally help create the blend. Her tea is not a paid brand endorsement but Starbucks will donate to Oprah’s youth education charities with every tea sale. Not unexpected, the audience reaction was electric, bigger than the other announcement about a new Starbucks iphone app that will allow payment including tip and eventually preorders. Will pouring coffee directly out of your smart phone be next?

Starbucks bills itself as a capitalistic company with a social conscience. Not everyone agrees with all they do in support of the latter but there are few complaints about the former. Since 1992 the stock has risen from just over $7 to a high of about $82 in November 2013 (March 19, 2014 after close price was over $76). They have a goal of growing the company from its $57 billion market capitalization to $100 billion. With over 7.2 billion people on the planet susceptible to coffee addiction, the goal may be a little low.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: