Howard Schultz

Infobox Celebrity
name = Howard Schultz

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caption = Howard Schultz in Vancouver on March 1st, 2007
imagesize = 200px
birth_date = birth date and age|1953|07|19
birth_place = Brooklyn, New York, U.S.
religion = Jewish
occupation = Chairman and CEO, Starbucks
salary = US$ 1,190,000 [ [http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=939955 Howard Schultzzz Profile] . Forbes.com. Accessed 2/28/07.]
networth = profit $1.1 Billion
spouse = Sheri Kersch Schultz
website = [http://www.starbucks.com/ Starbucks]
footnotes =
children = 2

Howard Schultz (b. July 19, 1953) is an American businessman and entrepreneur most widely known as the chairman and CEO [ [http://www.franchisebusiness.com/MrStarbucks/ Franchisebusiness.com] . URL last accessed August 16, 2007.] of Starbucks and a former owner of the Seattle SuperSonics. Schultz co-founded Maveron, an investment group, in 1998 with Dan Levitan.

Schultz grew up in a subsidized public housing project (Bay View Houses) in the Canarsie section of Brooklyn, New York. He attended Canarsie High School and is the eldest of three children. He has a sister, Ronnie (b. 1956) and a brother Michael (b. 1961), who both live in New York. His mother lives in New Jersey and his father, of whom he often speaks of in his interviews, is deceased. He is a father of two children and currently lives in Seattle with his wife. He owns an apartment on the Upper East Side of Manhattan and a house in East Hampton, N.YFact|date=July 2008.

Schultz attended Northern Michigan University on a football scholarshipFact|date=July 2008. In 1975, he became the first of his family to graduate from college when he earned his bachelor's degree in communications. He is a member of the Theta Iota chapter of Tau Kappa EpsilonFact|date=July 2008.

In 1982, he joined Starbucks Coffee Company in Seattle as the Director of MarketingFact|date=July 2008. After a business trip to Milan, Italy, he tried to get ownership (including Gerry Baldwin) to offer traditional espresso beverages in addition to the whole bean coffee, leaf teas and spices they had long offered. After a successful pilot of the cafe concept, the owners refused to roll it out company-wide and Howard Schultz started his own coffee shop named Il Giornale in 1985. Two years later, the original Starbucks management decided to focus on Peet's Coffee & Tea and sold its Starbucks retail unit to Schultz and Il Giornale.

Schultz renamed Il Giornale with the Starbucks name and aggressively expanded Starbucks' reach across the United States. It can be said that Starbucks popularized espresso drinks such as the cafe latte to many Americans who had previously only ever tasted freeze dried coffeeFact|date=July 2008. Schultz keen insight in real estate and his insatiable appetite for coffee drinks drove him to grow the company exponentially. Schultz didn't believe in franchising. Because of this Starbucks owns every domestic outlet with one exception. Schultz went 50-50 with Magic Johnson on stores in minority communities.

Schultz co-authored a book called "Pour Your Heart into It" that expounds on his life journey with StarbucksFact|date=July 2008. In his book Schultz admits that he was afraid that "Starbucks may become another souless big chain." This book is also published in Turkish by Babıali Cultural Publications as "Gönlünü İşe Vermek" [ [http://kultur.sabah.com.tr/2007/05/12/kit104-110002-20070425-1100.html Sabah - Kültür Sanat - Gönlünü İşe Vermek: Starbucks ] ] .

Schultz is also the former owner of the NBA's Seattle SupersonicsFact|date=July 2008. On July 17,2006, it was announced that Schultz sold the team to a group of businessmen from Oklahoma City for $350 million. It was speculated that the new owners would move the team to Oklahoma City some time after the 2006-2007 NBA season [ [http://seattletimes.nwsource.com/html/sports/2003136585_sonics19m.html seattletimes.nwsource.com] . URL last accessed July 18, 2006.] . On July 3, 2008, the City of Seattle reached a settlement with the new ownership group and the Sonics did, in fact, move to Oklahoma City. [ [http://seattlepi.nwsource.com/basketball/369313_trial03.html] Sonics are Oklahome City-bound, Seattle PI, July 3, 2008] . The Sonics had a 41-year history in Seattle, and the sale of the established franchise to out-of-state owners considerably damaged Schultz' popularity in Seattle. [ [http://www.mynorthwest.com/?nid=76&sid=70406] , Sonics Settlement, mynorthwest.com] . In a local newspaper poll, Schultz was judged "most responsible" for the team leaving the city, winning 42% of the vote [ [http://seattlepi.nwsource.com/polls/popup.asp?pollID=2983] URL last accessed July 3, 2008.] . Howard Schultz filed a lawsuit against Sonics chairman Clay Bennett, in April 2008, to rescind the July 2006 sale based on fraud and intentional misrepresentation. However, Schultz dropped the lawsuit in August 2008. When Bennett purchased the Sonics and its sister franchise in the WNBA, the Seattle Storm, for $350 million, he agreed to a stipulation that he would make a "good-faith best effort" for 1 year to keep both teams in Seattle. He has since sold the Storm to four Seattle women who will keep the team in Seattle. [http://seattletimes.nwsource.com/html/sonics/2004349361_schultz15.html] .

Schultz is also a significant stakeholder in Jamba Juice.Fact|date=July 2008 In 2006, Forbes Magazine ranked Schultz as the [http://www.forbes.com/lists/2006/54/biz_06rich400_The-400-Richest-Americans_Rank_15.html 354th richest] person in the United States, with a net worth of $1.1 billion dollars.

On March 29, 2007, Schultz accepted the Rev. Theodore M. Hesburgh, C.S.C., Award for Ethics in Business at the Mendoza College of Business at the University of Notre Dame. The same night, he delivered the Frank Cahill Lecture in Business EthicsFact|date=July 2008.

On January 8th, 2008 Howard Schultz regained his status as CEO of Starbucks after a hiatus of 8 years [http://www.starbucks.com/aboutus/pressdesc.asp?id=818] .

References

Schultz, Howard and Yang, Dori Jones. "Pour Your Heart Into It: How Starbucks Built a Company One Cup at a Time". Hyperion, 1999 [http://search.barnesandnoble.com/booksearch/results.asp?WRD=pour+your+heart+into+it&z=y] .

Margolick, David. "Tall Order", Portfolio, July 2008 [http://www.portfolio.com/executives/features/2008/06/16/Starbucks-CEO-Howard-Schultz-Profile Tall Order]