Katie Couric recently interviewed Starbucks CEO Howard Schultz on CBS Sunday Morning and asked him if he thought the company had a 'tin ear' to what people were going through with the recession. Perhaps, she suggested, they couldn't afford to pay '$5 on their coffee every day.' Schultz's response was to laugh. You see, Starbucks coffee only costs $1.50.
Couric: 'Do you think that the company, and you, had a tin ear about what people were experiencing during the height of the recession?'
Schultz: 'No.'
Couric: 'You know, that maybe they couldn't spend $5 on their coffee every day?'
Schultz (interrupting, laughing): 'Katie! It's not five bucks! It's not five bucks, let's get that right! It's $1.50!'
Couric: 'No, for these fancy coffee drinks, that people are addicted to! It's a lot more than $1.50, Howard.'
Schultz (laughing in disbelief): 'Ok, Ok. We did not have a tin ear.'
Couric: 'Little bit?'
We're out of touch with Starbucks prices, so we'll just leave this one up to you, the consumer. Which millionaire is right?
Starbucks CEO Laughs Off Katie Couric's $5 Coffee Question [Eater]
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