"Corporate Conscience" Doesn't Have to be an Oxymoron

Writing a CEO's standard address to shareholders is pretty easy -- you can do it without knowing much about the company or the industry.

If things have gone well, there is crowing about record sales and/or record profits. If they haven't, there are solemn phrases like "sailing through rough waters" or "turning a corner" or "overcoming obstacles".

Rarely, however, does the focus move off the particular company, or the particular industry (unless you need to blame the economy as a whole for your poor showing).

A broader focus, however, is what made Howard Schultz' opening remarks to Starbucks investors last week so interesting.

As reported by Melissa Allison of the Seattle Times (full article, here; a webcast of the annual meeting is available here), while Schultz did stick to the script by mentioning record profits and stock price, he also used those positive results to call for broad social and political changes:

We are heading into a crucible; we're in the midst of something that's really going to test the conscience of the country... It's a test we will not pass by being bystanders.

Decrying the widening gap between haves and have-nots, Schultz (who noted that he was raised in public housing) said, "I'm ultrasensitive to the fact that I believe the American Dream is on a very, very fragile foundation."

Starbucks has -- and promotes on its website to encourage customers to join in -- teamed with Opportunity Finance Network to provide financing to underserved community businesses, the "Create Jobs for USA Program".

Interesting that none of the giant banks that received taxpayer-financed bailouts had this idea, isn't it?