Family Research Council Says Starbucks' Support for Marriage Equality Led to Billions in Losses
In a radio bulletin that either reveals a stunning level of ignorance or sheer insanity, Family Research Council president Tony Perkins said that the National Organization for Marriage’s campaign to boycott Starbucks over its stance on gay rights called “Dump Starbucks”—which so far has collected fewer than 50,000 signers—is responsible for a $10 billion reduction in market capitalization. “Siding with radical homosexuals has its price in this country,” Perkins said. “And in Starbucks case, the cost is about ten billion dollars.”
That’s right, the FRC chief says that the company’s decision to endorse marriage equality in its home state led to its recent troubles, while providing no evidence as to how NOM and its fewer than 50,000 fellow boycotters contributed to Starbucks’ drop in stock value.
It didn’t take long for Starbucks to lose bucks over marriage. Hello, I’m Tony Perkins of the Family Research Council in Washington. In January, Starbucks CEO Howard Schultz said endorsing same-sex marriage would be good for business. Boy was he wrong! Siding with radical homosexuals has its price in this country. And in Starbucks case, the cost is about ten billion dollars. That’s how much the coffee giant’s lost in stock value since the campaign to Dump Starbucks got underway. In the last eight months, the company's missed sales projections and watched stocks dive from $61 to $48, for a loss of more than $10.2 billion. How many companies will fall for the lie that endorsing same-sex marriage will help business? J.C. Penney’s tried it. Target’s tried it. Now Starbucks. And every time, there’s a reason to believe that alienating millions of customers will directly affect a company’s bottom line. On the flip side, look at Chick-fil-A. They found out that supporting traditional values pays just as many cultural dividends as financial ones.
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