The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 13 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Schultz: Starbucks was seven months from insolvency in 2008
“I went up there, and I laid it out. Chapter and verse. I think we have seven months left. We are going to be insolvent.”
Schultz: Starbucks originally resold Peet's Coffee in Starbucks bags in 1971
“Now what is not known is that when Starbucks opened in the Pike Place Market in 1971, they were using Pete's Coffee. No one knows that. That's new. Because they were not roasting coffee. So they were bringing coffee from San Francisco to Seattle. They were not…”
Schultz: Starbucks ran into financial trouble after acquiring Peet's Coffee
“Now between 83 and 85, Jerry Baldwin, because of his love of Pete's and his relation with Alfred Pete, had an opportunity for Starbucks to acquire Pete's Coffee Company. And they did. Unfortunately, Starbucks buys Pete's, and they get into financial trouble.”
Schultz: Starbucks store model targeted 2:1 sales-to-investment and 20% operating profit
“The model basically was a sales to investment ratio of two to one. And a operating profit of 20%.”
Schultz: Costco Co-Founder Jeff Brotman Invested in Starbucks' 1987 Buyout
“First, Jeff Brotman invested in Starbucks in the round to buy Starbucks.”
Schultz: Starbucks and Pepsi launched bottled Frappuccino via 50/50 JV
“Subsequently, Craig Weatherup and I, on a napkin, I swear, shook hands and created a multi-billion dollar business For Pepsi and Starbucks and a fifty-fifty JV and bottle Frappuccino.”
Schultz: Starbucks sold no prepared coffee beverages until around 1985-1986
“Starbucks coffee company from 1971 until around 8586, only sold pounds of coffee. There was no beverage.”
Schultz: Gloria Jean's Once Had More Stores Than Starbucks via Franchising
“That was Gloria Jeans out of Chicago. And at one point, I think they had more stores than we did because of the franchising opportunity.”
Schultz: Starbucks never paid for product placement in movies
“First of all, Starbucks never paid for placement.”
Schultz: Starbucks struggled and lost money in China for nearly a decade
“We struggled in China for almost a decade. Lost money. There was tremendous pressure inside the company of close China.”
Schultz: Starbucks never had a negative comp month before 2008
“Never had a negative comp month in my history of the company.”
Schultz: Starbucks JV Partners Run Operations While Starbucks Controls Roasting and Design
“Starbucks is responsible for roasting the coffee, for all the recipes which are consistent with Starbucks worldwide, A co design of the store where we're designing the store with the JV or the licensed partner, and they control all the operations.”