Skip to comments.'Socially Responsible' Fund Drops Starbucks (No longer politically correct)
Posted on 03/24/2005 9:48:09 AM PST by KidGlock
'Socially Responsible' Fund Drops Starbucks
Pax World Funds Sold Starbucks Shares Worth $23.4 Million
POSTED: 9:36 am EST March 24, 2005 UPDATED: 9:57 am EST March 24, 2005
SEATTLE -- Starbucks is no longer considered socially responsible by a mutual fund company for ethical investors.
Pax World Funds is disappointed that the coffee chain has taken up with Jim Beam.
Their distribution agreement for a coffee-based liqueur has led Pax to divest itself of 375,000 shares of Starbucks worth more than $23 million.
Pax had liked Starbucks' record on the environment, and the way it treats employees. But the fund family said it has to follow its standards to avoid companies in the liquor business.
Pax said it steers clear of companies involved in defense or weapons, tobacco, liquor or gambling.
Starbucks said it was disappointed in the decision. It said the Starbucks liqueur is aimed at adult buyers in bars and restaurants and is not sold in its coffee shops.
I wonder how much fun they have at their "holiday" parties. Probably filled with quite a bit of pot smoking and enough hookers to make Pat O'Brien happy.
I used to love Starbucks coffee but I had to give it up.
I go there sometimes, but I will NEVER order a "Venti" or "Grande" anything. Way to pretentios.
I always ask for a medium black coffee. They can keep all that elitist-sounding "cache," -- even if we all do pay extra for it when we buy coffee there.
Is caffiene not a drug? It offers a buzz, does it not?
I used to do the same thing. I'd never say vente *lol*
Good - that will make me feel less guilty about drinking their coffee.
So, in other words, the Pax Funds hate cigarette-smoking, bourbon-drinking, gun-toting soldiers?
starbucks is a pretty good stock, actually
I won't go into Starbucks.
I got fed up.
EVERYTIME I tried to go in and get served, some cell-phone talking yuppie puke would cram ahead of me in line, and the person behind the counter, (who in one memorable instance had actually been in the process of taking my order) would pay attention to the rude moron who had shoved his way in front..
You have to watch out for the posers in Starbucks. I live in a lower-middle class area so it doesn't happen often. Watch out for posers in NYC though! OMG
Why would anybody invest in a fund which ignores the ONLY markets which NEVER drop during hard times; guns, liquor, cigarettes and gambling?
Dunkin Donuts has better coffee for less.
Part of the problem is that we are so close to Ann Arbor.......
So most of the idiots here are of the upper-middle class "entitled" elite.
Ever have Tim Horton's coffee?
I'd like to go to NY someday!
Never had Tim Horton coffee. I drink green tea now.
Last time I was in a Starbucks (at B&N), I wanted the big black coffee. I told her "the biggest one, the 'venti' or whatever the hell you're calling it." The coffee girl got a kick out of that.