Starbucks is trying to "brew" up more jobs. Starting on November 1st, the next time you go to get your cup of Joe you'll be asked to donate an extra $5 to stimulate U.S. job growth through its "Jobs for USA" program.
The Seattle-based mega chain has partnered up with the Opportunity Finance Network, a nonprofit that works with nearly 200 community development financial institutions to provide loans to small businesses and community groups.
Starbucks says 100 percent of the donations will go toward loans for firms and organizations that can add jobs or stem job losses.
According to Reuters, Starbucks CEO Howard Schultz called small business an engine for job growth that has stalled and said entrepreneurs must have access to credit so they can hire again.
"Businesses and business leaders need to do more; we can't wait for Washington," Schultz told Reuters in an interview, adding that Americans deserve better leadership.
The fund will be seeded with a $5 million donation from the Starbucks Foundation. Donors who give $5 or more online or at one of the 6,800 chains will get a wristband with the word "Indivisible."
Schultz created quite a political stir in August when he pledged not to donate political campaign contributions to presidential and congressional campaigns. "What is it going to take for Washington to listen to us?" Schultz wrote. He determined that the only way to get Washington to address runaway federal debt would be to stop giving money to D.C. politicians. Stop feeding the beast.
It should also be noted that just three years ago Schultz closed some 600 U.S. Starbucks locations and had significant layoffs in order to turn the company around.
Will you be donating to this job fund?
Viewers served up their thoughts:
Nathaniel writes on Facebook: "So that $5 dollar cup of coffee is now going to cost $10? Lol"
Melissa writes on Facebook: "I donate 5 dollars on a daily basis so I pay someones job or at least light bill :)"
jvirgadamo tweets: @maggiesworld they should donate half of the price of their overpriced coffee instead. that will stimulate job growth for sure!!!
chucknorrises tweets:@maggiesworld why not? I already pay their electricity bill.
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