I know this is a little heavy for a Friday post, but hear me out.
Yesterday evening, I posted a review of How Starbucks Saved My Life. In short, the book tells the story of a man in his sixties who loses his job as a high-powered executive in advertising and eventually finds great fulfillment and happiness working as a Partner at Starbucks.
As I was finishing the book, I saw a story on ABC News about a new program at Starbucks. CEO Howard Schultz announced the “Create Jobs for USA” initiative earlier this week. This initiative, which partners with Opportunity Finance Network, will use donations to make loans to local businesses that have difficulties securing financing.
According to the report, the Starbucks Foundation is donating the first $5 million to kick off the Create Jobs for USA program. Starting November 1, Create Jobs for USA will begin accepting donations online and in Starbucks stores. The website states that 100% of the donation to OFN. When one person gives $5 it can help provide $35 worth of financing for community businesses. As a thank you for donations, donors who contribute $5 or more will receive a bracelet inscribed with the word “Indivisible.”
What do you think about this program? Genius or pointless?