As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by Politico:
Starbucks founder Howard Schultz’s presidential hopes are already running into resistance from his old coffee cohort.
Wall Street analysts are wary, and company leadership is nervous, about the effect a Democratic bid by its chairman emeritus could have on Starbucks’ business, given its bipartisan customer base. If that weren’t discouraging enough, Schultz’s retirement last month set off a boomlet of pundits urging him not to run. And his recent appearance at a private gathering of political donors convened by Mitt Romney inspired indifference.
A partisan run for the White House could be bad for business, company brass and Wall Street worry.
The article goes on to state the following:
As Schultz takes the summer to contemplate a presidential campaign, the world is giving him a lot of downside to ponder, according to conversations with a dozen former Starbucks executives, equities analysts and others with insight into the coffee mogul, his former business and his recent moves.
“You’re putting a lot at risk. You’re putting your peace of mind at risk. You better really understand what you’re getting into. I’ve said that to him,” said former Starbucks President Howard Behar, a longtime Schultz confidant.
Behar compared his counsel to the advice he offered Schultz before another audacious undertaking.
“When he bought the Sonics, I said, ‘Man, are you sure you know what you’re doing here?’ And that didn’t turn out great,” Behar said, referring to Schultz’s 2001 purchase of the Seattle SuperSonics NBA franchise. His ownership ended in the team’s relocation to Oklahoma City in 2008, a sore point for Seattleites.
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