Three Cheers for Starbucks!
The ubiquitous coffee shop chain just told the neo-Prohibitionists precisely where to stuff their wacky ideas and half-baked attempts at corporate extortion. If I could stand the taste of coffee, I'd go buy a cup from them. I can't understand how something that smells so inviting can taste so vile. I'll stick with tea.
Anywho, if you've never run into any of these neo-Prohibitionist types, you're really missing out on a truly shining example of the lunatic fringe. These idiots seriously want to bring back Prohibition--and make it even more restrictive than the first go-round. Never mind the small historical inconvenience of the fact that it didn't work. In fact, it created far more problems than it solved. But I'd hardly expect wackoids like them to even be able to read, let alone comprehend the lessons of history.
This particular group that unsuccessfully attacked Starbucks is a real doozie, too. Have a gander at their investment philosophy:
Wow. Talk about gathering all the crackpots in one (sinking) ship. Yeah, send me a prospectus; I'll be happy to let you handle my money. Not.
Anywho, if you've never run into any of these neo-Prohibitionist types, you're really missing out on a truly shining example of the lunatic fringe. These idiots seriously want to bring back Prohibition--and make it even more restrictive than the first go-round. Never mind the small historical inconvenience of the fact that it didn't work. In fact, it created far more problems than it solved. But I'd hardly expect wackoids like them to even be able to read, let alone comprehend the lessons of history.
This particular group that unsuccessfully attacked Starbucks is a real doozie, too. Have a gander at their investment philosophy:
Pax World Funds doesn't invest in companies deriving more than 5% of their revenue from defense contracts, or deriving any revenue from the manufacture of weapons, gambling, tobacco, or alcohol products or from the production of nuclear power.
Wow. Talk about gathering all the crackpots in one (sinking) ship. Yeah, send me a prospectus; I'll be happy to let you handle my money. Not.
posted by Jar(egg)head at 13:33
2 Comments:
Dear Jar Egghead,
You of all people should at least acknowledge that this company, how ever screwy they may seem have stuck to what they are selling to a customer. How can it be an attempt of corporate extortion when they are exercising their rights as share holders? Unlike Star Schmucks (see Foamy’s “Tall, Medium and large,” http://www.playgroundofdeath.com/vault.html ) who will screw a customer for a buck yet claim they are socially responsible! Oh yea of short memory can we forget how Starbucks went out of their way to screw the local ambulance company on 9-11 while helping victims? :-}
If Pax had simply sold their holdings in Starbucks corporation and been done with it, I would have no problem--except if I were dumb enough to be an investor in their silly fund. They just lowered the value of their clients' portfolios by divesting one of the best stocks on the market over personal politics. But I'll address that in a minute.)
The fact is that they, as minority shareholders, tried to extort Starbucks out of making a very lucrative business deal which would increase the value of their stock.
The market is no place for social activism, any more than the military is a place for sexual activism. When you let your personal politics keep you from making a good investment, you're no longer a capitalist; you're a socialist. Sure, if realpolitik depresses a stock, then by all means bail if you feel too much pressure. But that's not what these Pax morons did; they stooped to borderline extortion, and I have no tolerance for that sort of behavior. Yes, Pax may invested in the company initially because they perceived it as "friendly" to their stupid activist ideals, but even if that's the case, you should still be applauding Starbucks; they just told the morons to take a hike, and take their politically-tainted money with them.
As for the ambulance driver incident, are you going to hold the entire company responsible for the actions of one idiot local manager? Starbucks also gave a million dollars to the relief effort, and provided free coffee to all the rescue and relief workers. One greedy moron does not a company make.
The fact is that the only morons in this story are the people who will continue to invest their money with Pax World Funds after reading this article. Do not mistake these people for honest investors; they wish to destroy corporatism and capitalism from the inside out. They adopt the garb only for purposes of deception, and would have us all on the dole if given their druthers. Starbucks isn't perfect by any means, but they're not the real enemy in this story.
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