Business

Starbucks To Donate Profits From Harlem Coffee Shop

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Starbucks CEO Howard Schultz (third from left) makes an announcement in Harlem - New York, NY - Oct 4, 2011 (credit: Paul Murnane / WCBS 880)

Starbucks CEO Howard Schultz (third from left) makes an announcement in Harlem – New York, NY – Oct 4, 2011 (credit: Paul Murnane / WCBS 880)

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NEW YORK (WCBS 880) - Starbucks CEO Howard Schultz has been in the news lately for calling on CEOs to boycott donating to politicans. Today, he made news in New York City.

WCBS 880’s Paul Murnane On The Story

His company will be donating profits from Harlem back to the community.

“Profitability as a singular objective is a very shallow goal,” said Schultz on Tuesday. “Business leaders small and large and especially those that are running public companies, are going to have to realize that success  is best when it’s shared.”

Sheena Wright, president and CEO of the Abyssinian Development Corporation, says the money will fund after school and other education efforts, often ignored, she says when other so-called investments are made.

“In education as compared to level of investment that we make in incarcerating a person is very lopsided,” she told WCBS 880 reporter Paul Murnane.

She hopes other corporations will follow suit.

“If communities are not healthy, companies will not be healthy,” she said.

Starbucks is committing a minimum $100,000 from two stores – the one on 125th Street here in Manhattan and one out in Los Angeles.

Do you know of any similar corporate efforts? Share them in the comments section below!

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