Frater Begins Campaign for US Jobs
SEATTLE, Wash. - Starbucks has launched a campaign to try to stimulate U.S. job growth after announcing that businesses need to do more to help 'low-income people and communities'.
The global coffee chain's CEO, Frater Howard Schultz (Theta-Iota, Northern Michigan Univ.), revealed the 'Create Jobs for USA' initiative after saying he believes there is a 'lack of leadership in Washington'.
Starbucks themselves said they would kick-start the new jobs fund with a $5M donation from their foundation, despite having to close 600 U.S. cafes just three years ago.
Frater Schultz said the jobs fund has been set up because he is a 'private citizen trying to make a difference'.
He added, "Businesses and business leaders need to do more; we can't wait for Washington."
The 'Create Jobs for USA' fund has been made in partnership with Opportunity Finance Network (OFN), a group of private financial institutions that provide affordable loans to low-income people and communities.
The CEO said he has been frustrated by political dysfunction in Washington and called on people in positions of power to 'put their feet in the shoes of people who are being left behind.'
As of November 1, the fund will accept donations at
CreateJobsforUSA.org and at the roughly 6,800 company-owned Starbucks cafes in the United States. Donors who give $5 or more will get a wristband inscribed with the word 'Indivisible.'
Starbucks, which is covering OFN's administrative expenses and the cost of making the U.S-made wristbands, said every $5 donation to 'Create Jobs for USA' will generate $35 in financing for small businesses, nonprofit groups, commercial real estate projects and affordable housing.
Adapted from an AP Newswire Release. Be sure to follow the latest TKE News with the RSS Feed, on Twitter or the official TKE Facebook Fan Page (Tau Kappa Epsilon Fraternity). Submit your news today.
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