Starbucks CEO to Businesses: Boycott Political Campaign Donations Until Deficit Deal Reached

Starbucks CEO and Chairman Howard Schultz's political campaign donation boycott is picking up steam after two Wall Street CEOs endorsed the pledge agreeing that bipartisan leadership is lacking in America.

Yesterday Schultz sent a letter to business leaders announcing two major endorsements: NASDAQ OMX Group CEO Bob Greifeld and NYSE Euronext CEO Duncan Niederauer.

A spokesperson for Schultz told The Christian Post (CP) that both men confirmed their pledges with letters of endorsement for the plan meant to force Congress back to the table.

Greifeld wrote in a letter obtained by CP, “I think Howard's idea is a great one.”

He also vented, “Until our elected officials show the leadership that all of us not only expect but deserve, it is time for us to stand firm and demand more from them.”

Niederauer shared of his endorsement saying, “It is my hope that our leaders can put politics aside and focus on generating long-term sustainable growth driven by the private sector.”

Both CEOs forwarded Schultz's pledge to thousands more NASDAQ leaders.

Schultz stirred leaders up when he released a Monday email charging, “Our national elected officials from both parties have failed to lead.”

He expressed his frustration at the current economic climate that has weakened America's credit rating and business over the last few weeks and months. Schultz said Washington politicians should put aside their careers and reach a deal on debt, revenue, and spending before the Thanksgiving deadline.

To force the issue, he urged corporate leaders and concerned Americans, “Withhold any further campaign contributions to the president and all members of Congress until a fair, bipartisan deal is reached that sets our nation on stronger long-term fiscal footing.”

The non-profit group, No Labels, agrees with Schultz's wish that Congressional negotiations get under way immediately.

Read the full article here.

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