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☆ Starbucks will discontinue Oleato olive oil drinks at U.S. cafes in early November
▼ + stars: | 2024-10-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Starbucks' controversial line of olive oil-infused drinks will leave U.S. stores in early November. The decision to remove the Oleato drinks from domestic menus predates newly installed CEO Brian Niccol, who arrived at Starbucks in early September, a company spokesperson said. The lineup of Oleato drinks infused Partanna olive oil into Starbucks' Caffe Latte, Iced Shaken Espresso and cold foam. Schultz imagined the Oleato line after a trip to Italy, where he saw Sicilians drinking olive oil as a daily ritual. He, too, began drinking olive oil alongside his daily coffee and decided that Starbucks should try to mix the two together.

Persons: Brian Niccol, Howard Schultz, Schultz Organizations: Starbucks, Bloomberg, U.S . Locations: U.S, China, Italy, Southern California, Japan

☆ Why Wall Street thinks Brian Niccol is the person to revive Starbucks — and end the Howard Schultz era
▼ + stars: | 2024-08-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

In this article SBUXCMG Follow your favorite stocks CREATE FREE ACCOUNTBrian Niccol, CEO of Chipotle Anjali Sundaram | CNBCWall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decadeslong Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job in March 2023 after being handpicked by former CEO Schultz. Other analysts wrote glowingly of Niccol, seeing him as the right person to tackle Starbucks' sluggish sales. Some analysts believe that having Niccol, an experienced restaurant CEO, in the driver's seat could mean that Schultz finally moves on.

Persons: Brian Niccol, Chipotle Anjali Sundaram, Howard Schultz, Niccol, Laxman Narasimhan, Schultz, TD Cowen, Andrew Charles, Piper Sandler, Baird, Oppenheimer, Brian Bittner, Brian, David Palmer, Morgan Stanley, Brian Harbour, Mellody Hobson, Niccol's, Hobson, Gordon, Don Bilson, Chipotle, Steve Ells, Bernstein, Danilo Gargiulo Organizations: CNBC, Starbucks, SBUX, Newport Locations: Denver, Newport Beach

☆ Elliott's 'constructive' Starbucks engagement complicated by Howard Schultz's looming presence
▼ + stars: | 2024-08-01 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

CEO of Starbucks Howard Schultz back stage with soon to be Starbucks CEO Laxman Narasimhan at Starbucks Headquarters during Investor Day in Seattle, Washington Tuesday September 13, 2022. Looming over the negotiations is Starbucks' former CEO Howard Schultz, who stepped off the board last year but remains one of the company's top shareholders and is forever entitled to attend Starbucks board meetings unless barred by Starbucks' directors. Schultz has privately expressed to some directors his opposition to Elliott's settlement offer, The Financial Times reported earlier. A Starbucks spokesperson declined to comment on whether Schultz, who has a close relationship with Hobson and other Starbucks directors, had attended board meetings where Elliott's settlement offer was discussed. Schultz hasn't said why he opposes Elliott's offer, and his representatives didn't return multiple requests for comment.

Persons: Starbucks Howard Schultz, Laxman Narasimhan, Elliott, Mellody Hobson, hasn't, Howard Schultz, Schultz, Hobson, Narasimhan, Schultz hasn't Organizations: Starbucks, Starbucks Headquarters, Investor, Elliott Management, Financial Times, CNBC Locations: Seattle , Washington, China

☆ Starbucks' Howard Schultz talks Steve Jobs screaming at him and wishing he'd trademarked the latte in a new podcast
▼ + stars: | 2024-06-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +10 min

Starbucks didn't sell its own coffee early on"When Starbucks opened in Pike Place Market in 1971, they were using Peet's Coffee. Howard Shultz is going to acquire Starbucks Coffee Company, and he's never going to hear from you again." Together the trio made the "huge decision" to sell Starbucks coffee in Costco, which sparked a "revolt inside the halls of Starbucks," Schultz said. Related storiesThe former Starbucks CEO faced similar blowback when he agreed to let United Airlines serve his company's coffee. "We're not a beverage company serving coffee, we are a coffee company serving people.

Persons: —, Howard Schultz, Schultz, Bill Gates, Steve Jobs, Costco's, Bernard Arnault, Lavazza, I've, Samuel Stroum, it's, Howard Shultz, he's, Brian Ach, latte, Jeff Brotman, Jim Sinegal, they've, Coke, Pepsi, Steve, Justin Sullivan, Blackstone, Alexandre, Louis Vuitton, Alexandre Arnault, Donato Sardella, Louis Organizations: Service, Starbucks, Business, Pepsi, Microsoft, Starbucks Coffee Company, Costco, United Airlines, Starbucks Facebook, Staff, Getty, Tiffany's, Louis Vuitton Locations: Coke, Pike, San Francisco, Seattle, Chicago, America, Costco, Atlanta, New York, Apple's, California, Mobile, Italy, Milan

☆ Jim Cramer says Howard Schultz's open letter to Starbucks is unlike anything he's seen before
▼ + stars: | 2024-05-06 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

The difficult road ahead for Club holding Starbucks took a dramatic, unexpected turn this weekend — one that Jim Cramer said he's not seen before in his four decades on Wall Street. "I think he's coming from the point of view just sadness about where the franchise is," Jim said. Narasimhan said Starbucks is working on a plan to speed up customer service and improve its supply chain. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Former Starbucks CEO Howard Schultz testifies about the company's labor and union practices during a Senate Committee on Health, Education, Labor and Pensions hearing on Capitol Hill in Washington, DC, March 29, 2023.

Persons: Jim Cramer, he's, Howard Schultz, Schultz, I've, Jim, Laxman Narasimhan, Kevin Johnson, SBUX, Narasimhan, Howard, Jim Cramer's, Saul Loeb Organizations: Club, Starbucks, CNBC, LinkedIn, Health, Education, Labor, Capitol, AFP, Getty Locations: U.S, North America, China, Washington , DC

☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

☆ McDonald's tried to buy Panera Bread, and 5 other reveals from founder Ron Shaich's book
▼ + stars: | 2023-10-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +6 min

McDonald's tried to buy PaneraMcDonald's expressed interest in buying Panera in the early 2000s, Shaich writes. More than a decade after meeting with McDonald's, Shaich started seriously considering selling Panera as he prepared to step down from the business. Shaich writes in the book that he never really left, staying active as executive chair of the company, before he rejoined as a co-CEO in 2012. Shaich writes that he knew at the time that he would retire, but he hadn't yet announced it. Shaich writes that Panera received a patent to use video to review the accuracy of sandwich orders.

Persons: Ron Shaich, Scott Mlyn, Shaich, Louis, Panera, that's, McDonald's, Bill Moreton, wasn't, Donatos, Howard Schultz, David Ryder, Schultz, Au Bon, Steve Ells, Jerry Cleveland, Obama, hadn't Organizations: CNBC, Clark University, Louis Bread Company, Grill, Boston, Starbucks, Reuters Starbucks, Denver Post, Getty, Obama Locations: Boston, Seattle, Panera, India, aren't

Schultz had met with a group of employees from Starbucks locations in Long Beach, California, to discuss concerns about working conditions. Lawyers for Starbucks Workers United, which is organizing the company's workers and filed a complaint on behalf of Hall, did not immediately respond to a request for comment. Starbucks and Schultz have faced allegations of widespread illegal union-busting from workers, labor groups and Democratic lawmakers. Hall then asked Schultz about allegations of illegal labor practices in complaints pending at the NLRB, according to the filings. SenatorsStarbucks must disclose spending on response to union campaign, judge rulesReporting by Daniel WiessnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Howard Schultz, Julia Nikhinson, barista, Brian Gee, Schultz, Hall, ” Gee, Gee, Jonathan Levine, Littler Mendelson, Gabe Frumkin, Barnard Iglitzin, Lindsay Parker Read, rehire, Daniel Wiessner Organizations: Starbucks, Health, Education, Labor, Capitol, REUTERS, Former Starbucks Corp, National Labor Relations, Madison Hall, Starbucks Workers, Workers, Democratic, NLRB, U.S . Department of Labor, Starbucks Corp, National Labor Relations Board, U.S, Senators Starbucks, Thomson Locations: Washington ., California, Los Angeles, Long Beach , California, U.S, Long Beach

☆ Ex-Starbucks CEO Howard Schultz admits he once shunned the Frappuccino
▼ + stars: | 2023-09-07 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Former Starbucks CEO Howard Schultz was initially opposed to introducing the Frappuccino. But early on, it had a notable critic: then-CEO Howard Schultz. "I think Frappuccino is a great example of Howard Schultz being 100% incorrect, wrong and on the wrong side of the debate," Schultz said in the interview. Former Starbucks CEO Howard Schultz says he initially opposed introducing the blended coffee drink. AdvertisementAdvertisement"It turned out that Frappuccino became a multibillion-dollar business for Starbucks," Schultz told Bensinger.

Persons: Howard Schultz, Schultz, wouldn't, Graham Bensinger, Abby Wallace, Dina Campion, Campion, George Howell, Schultz wasn't, Bensinger, Frappuccinos, Alex Tai, Frappuccino Organizations: Starbucks, Service, Southern California Starbucks, Beverage, Getty Images Locations: Wall, Silicon, Southern California, Canada, Shanghai

☆ Sen. Sherrod Brown received an extra property tax credit and racked up penalties for late payments
▼ + stars: | 2023-05-03 | by ( Henry J. Gomez | ) www.cnbc.com time to read: +6 min

Sen. Sherrod Brown, D-Ohio, for years claimed an owner-occupancy tax credit at two properties, public records show — a potential violation of the state's rules governing such incentives. Responding to questions from NBC News, Brown and Schultz this week paid a $390 penalty stemming from their most recent late payment. Brown will no longer accept the owner-occupancy credit on the Columbus property, according to his campaign. Franklin County tax records available online show no late payments or penalties for Brown's Columbus condo — purchased in 2014 — over the last four years. Ohio schools are heavily reliant on property tax revenue, and late payments affect their accounting.

☆ Starbucks' Howard Schultz was the gold standard for good bosses everywhere. Then Gen Z worked for him.
▼ + stars: | 2023-04-04 | by ( Alex Bitter | ) www.businessinsider.com time to read: +7 min

Howard Schultz, the CEO of Starbucks at the time, then appeared with Clinton on a panel to discuss corporate responsibility. Schultz discussed his 1987 decision to offer Starbucks employees stock options and what he said was better healthcare than rivals, among other benefits. Starbucks workers participate in November's Red Cup Rebellion, a nationwide strike. Starbucks's health insurance option for part-time workers originates in a 1986 contract for unionized Seattle Starbucks workers that Schultz fought against at the time. Markey said that by unionizing, Starbucks workers are "just looking to be someone who can protect themselves in the way your father could not."

☆ Starbucks fired the worker who led unionization movement, just days after former CEO grilled by Congress
▼ + stars: | 2023-04-02 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +3 min

Rizzo sparked what has become a nationwide labor movement when she worked to unionize two Starbucks stores in Buffalo, New York. Alexis Rizzo, the Buffalo-based Starbucks worker who began the Starbucks Workers United campaign, was fired after seven years with the company, Starbucks Workers United tweeted Saturday. In an interview with CNBC, Rizzo said she was fired after her shift Friday, and that managers cited four times she was late for work. —Starbucks Workers United (@SBWorkersUnited) April 1, 2023Rizzo's firing follows former Starbucks CEO Howard Schultz's recent appearance before Congress, where he was questioned by senators over alleged widespread union busting. Starbucks Workers United posted a GoFundMe page for Rizzo Friday, pulling in nearly $7,000 for Rizzo in a day.

☆ Starbucks is probably 'the best first job in America,' former CEO says as Congress probes the chain's treatment of unions
▼ + stars: | 2023-03-29 | by ( Aidan Pollard | Alex Bitter | ) www.businessinsider.com time to read: +5 min

Starbucks is "one of the best, if not the best, first job in America," former CEO Howard Schultz said. "Starbucks is probably one of the best, if not the best, first job in America." "It's unprecedented, and that's why Starbucks doesn't need a union," Schultz said. But Wednesday's hearing showed that some current and former Starbucks employees don't agree with that assessment. Jaysin Saxton, a former Starbucks barista who lost his job in August at a Starbucks in Augusta, Georgia, also spoke at the hearing.

☆ Starbuck's ex-CEO started his Congressional testimony with an emotional story about his father. It was used against him.
▼ + stars: | 2023-03-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Former Starbucks CEO Howard Schultz told Congress about his father's work injury Wednesday. But Sen. Ed Markey used the anecdote to argue that Starbucks should respect unionizing workers. When Schultz was a child, his father slipped on ice and broke his foot while working as a driver, he said. Markey told the story of his own father, whom he said lost a finger in an accident at work. Starbucks told the Times that the remedies are "inappropriate."

☆ Starbucks illegally refused to bargain with union on Zoom - Bloomberg News
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +1 min

The general counsel of the NLRB determined that the coffee chain violated labor law by refusing to participate in collective bargaining sessions if some workers were present via video-conference, the report said. "Now that it's clear we have the right to bargain using a virtual component, we hope Starbucks is ready, too," Tyler Keeling, a Starbucks' union leader from California said in a statement. Starbucks and the NLRB did not immediately respond to Reuters request for comment. Employees at more than 280 out of Starbucks' roughly 9,000 company-operated U.S. locations have voted to join a labor union since 2021. The union is seeking better pay and benefits, improved health and safety conditions and protections against unfair dismissal and discipline.

☆ Norway wealth fund to vote for labour rights motion at Starbucks AGM
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Starbucks coffee shop is seen in downtown Los Angeles, California, U.S., June 29, 2022. REUTERS/Lucy NicholsonOSLO, March 23 (Reuters) - Norway's $1.3 trillion wealth fund, one of the world's largest investors, will vote in favour of a shareholder motion calling on Starbucks (SBUX.O) to report on how it respects labour rights, the fund's manager said on Thursday. The Norwegian fund owns 1.05% of Starbucks' shares, worth $1.2 billion at the end of 2022, according to fund data. Norges Bank Investment Management (NBIM), which operates the Norwegian wealth fund, said it would vote in favour of commissioning a third-party assessment of Starbucks' commitment to freedom of association and collective bargaining rights. "Freedom of association and the right to collective wage bargaining are fundamental employee rights - and human rights," they said.

Schultz will testify on March 29 before the Senate Health, Education, Labor and Pensions Committee, the company and panel chairman Senator Bernie Sanders said on Tuesday. Schultz, who is stepping down from his post this month, had earlier declined an invitation from 11 senators to testify before the panel on March 9. The company previously rebuffed requests by Sanders for him to appear, instead offering for other executives to testify. "I look forward to hearing from him as to when he intends to end his illegal anti-union activities and begin signing fair first contracts with the unions," Sanders wrote on Twitter. Employees at more than 280 out of its roughly 9,000 company-operated U.S. locations have voted to join a labor union since 2021.

☆ Bernie Sanders successfully cajoled Starbucks CEO Howard Schultz into testifying before a Senate committee on labor practices
▼ + stars: | 2023-03-07 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

Interim Starbucks CEO Howard Schultz has agreed to testify in front of Sen. Bernie Sanders' committee. Sanders chairs the Health, Education, Labor, and Pensions Committee (HELP), and wanted to subpoena Schultz to testify. Now, Schultz has agreed to testify on March 29 about the firm's alleged anti-union activities. Ahead of that vote — which was scheduled for Wednesday — Sanders said that Schultz has "finally agreed to testify." Sanders also thanked the members of his committee, "who, in a bi-partisan way, were prepared" to vote to subpoena Schultz.

☆ Bernie Sanders is holding a vote to subpoena Howard Schultz for fighting Starbucks unionization
▼ + stars: | 2023-03-01 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +4 min

Sen. Bernie Sanders announced he's holding a vote on issuing a subpoena for Starbucks CEO Howard Schultz. The Senate HELP chairman wants Schultz to testify on his company's fight against unionization. Sanders, the new chairman of the Senate Health, Education, Labor and Pensions Committee, also wants the committee to authorize an investigation into major corporations' labor law violations. Schultz rejoined Starbucks as interim CEO in April 2022 and will transition out of the role this month, the company wrote to Sanders in February. "A multi-billion dollar corporation like Starbucks cannot continue to break federal labor law with impunity," Sanders said.

☆ Starbuck's interim CEO Howard Schultz said he doesn't believe unions have a place at the coffee giant as unionization efforts spread
▼ + stars: | 2023-02-22 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Starbucks' interim CEO Howard Schultz said unions have no place at the company in a CNN interview. He said that unionization efforts reflect a "much bigger problem" beyond individual companies. Schultz, who stepped in as interim CEO of Starbucks in April 2022, told Harlow: "I don't think a union has a place in Starbucks." Schultz argued that Starbucks worker unionization efforts in America are reflective of a much bigger macro problem beyond the company itself. Unionization efforts from Starbucks workers began in Buffalo, New York in 2021 as workers grew tired of stores being consistently understaffed, poor working conditions during the pandemic, as well a demand for higher wages.

☆ Starbucks is launching olive oil infused-coffee, and even interim CEO Howard Schultz acknowledged there was 'some skepticism' about the drink
▼ + stars: | 2023-02-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Starbucks launched a new line of olive oil-infused coffee on Tuesday. Starbucks interim CEO Schultz had called the new line "transformative" and likened it to "alchemy." Now, the coffee giant is peddling its new Oleato line — essentially, olive oil-infused coffee. Customers in certain markets can also ask for a spoonful of olive oil to be added to beverages such as espressos and tea lattes. Schultz added Starbucks would not be making any health claims for the olive oil-infused drinks, per The Journal.

☆ Starbucks is launching olive oil-infused coffee in Italy, plans U.S. release this spring
▼ + stars: | 2023-02-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

In this article SBUX Follow your favorite stocks CREATE FREE ACCOUNTStarbucks initial Oleato launch will launch three olive oil-infused drinks in stores across Italy. Source: StarbucksStarbucks has a new way to customize its coffee: olive oil. He, too, began drinking olive oil alongside his daily coffee and decided that Starbucks should try to mix the two together. Celebrities including Kourtney Kardashian have endorsed drinking it, while startups like Saint Supply are selling their own olive oil expressly for drinking, not cooking. The upscale coffee megastores were meant to help Starbucks compete with the likes of Intelligentsia Coffee and Blue Bottle Coffee.

☆ Bernie Sanders hints at subpoena for Starbucks CEO Howard Schultz
▼ + stars: | 2023-02-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Sen. Bernie Sanders hinted that lawmakers could subpoena Howard Schultz to compel the outgoing Starbucks CEO to testify in front of a Senate panel about how the coffee chain is handling its baristas' push to unionize. "One way or another, he will be there," Sanders, a pro-union Vermont independent, told reporters on Capitol Hill. Sanders, who chairs the Senate's Health, Education, Labor and Pensions Committee, said in a statement Wednesday that he intends to hold Schultz and Starbucks accountable and looks forward to seeing Schultz appear before the committee. Schultz declined an invitation from 11 senators to appear at the March 9 hearing, Reuters first reported Tuesday evening. To date, regional offices of the federal labor board have issued 76 complaints against Starbucks, alleging illegal labor practices.

☆ Howard Schultz says baristas don't have the 'privilege' of working from home as he orders Starbucks staff back to the office 3 days a week
▼ + stars: | 2023-01-12 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Starbucks corporate staff have been ordered back to the office three days a week from January 31. Howard Schultz said staff had failed to start coming in at least once a week. He "pleaded" with workers to return to the office last year, saying he'd "get on my knees." Staff located near regional offices have also been ordered to go in three days a week under similar conditions. "I have been unsuccessful, despite everything I've tried to do, to get our people back to work," Schultz said.

☆ Bob Iger is back. He's the steady hand that Disney needs as CEO to get it back on track
▼ + stars: | 2022-11-21 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Iger has committed to serve two years as CEO and agreed to help the board develop his eventual replacement, according to Disney. The Club's take Iger will be the steady hand Disney needs in this critical moment. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Bob Iger, CEO, The Walt Disney Company Scott Mlyn | CNBC

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