Wednesday Jul 04, 201204:03 PM GMT
Howard Schultz: 'The American dream is in jeopardy'
Wed Jul 4, 2012 4:2PM
Andy Serwer, Fortune
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Starbucks CEO Howard Schultz


The Starbucks CEO is concerned about the economy, unemployment and the general direction of the country. As the 4th of July approaches, he is speaking out -- and not pulling any punches.


As Americans begin observing Independence Day, Starbucks CEO Howard Schultz has written an open letter to the nation, "How Can America Win this Election," in which he spells out his concern about our economy and specifically unemployment.


In the letter he asks politicians to stop fighting and for business leaders to step up. "I love America, but we all know there is something wrong. The deficits this country must reconcile are much more than financial, and our inability to solve our own problems is sapping our national spirit. We are better than this," he writes.


Schultz is running the letter in an advertisement in national newspapers and websites this week. Schultz previously voiced his unhappiness with the state of the union last summer during the deadlocked federal budget debate.


Schultz said that his letter is a continuation of the concern that I share with many Americans about the economy and unemployment and the lack of political leadership to address the problem. Since I took this position a year ago things really haven't gotten better, they have gotten worse.


“We can't be bystanders anymore. It's a dangerous time, we are drifting towards mediocrity. You probably read that Stockton, California just declared bankruptcy. What was incredible to me was how it was reported in such a de minimus fashion. Like it was not a big deal,” Schultz added.


“I hasten to think what might happen if we end up in another budget deadlock in a few months and S&P lowers the U.S. debt rating again. I was just in Europe. We don't want that to happen to us. We need real leadership from Washington and from the business community. I've been the ultimate beneficiary of the American dream and that dream is now in jeopardy. I can't just stand by.”



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