Controversy
Speaking to CNBC in February 2009 about his concerns over the global economic crisis, Schultz said that "the place that concerns us the most is western Europe, and specifically the UK", which he considered to be in a "spiral", expressing concern with the levels of unemployment and consumer confidence in the country.
Lord Mandelson, the then-UK Business Secretary, responded saying that Britain was "not spiralling, although I've noticed Starbucks is in a great deal of trouble", and suggesting that Schultz was projecting his own company's trouble in the United Kingdom onto the wider national economy. Mandelson was later overheard at a drinks reception, saying: "Why should I have this guy running down the country? Who the hell is he? How the hell are doing?"
An official comment from Starbucks read that "It is a difficult economic situation in the US and around the world. Please be assured that Starbucks has no intention of criticising the economic situation in the UK. We are all in this together and as a global business we are committed to each and every market we serve."
Read more about this topic: Howard Schultz
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