Starbucks is destroying the British economy

Via an old colleague at the Guardian, I see that Business Secretary Peter Mandelson is unhappy with Starbucks Chairman and CEO Howard Schultz. The not-PG bits of Mandelson's tirade are after the jump:

The business secretary, Peter Mandelson, has launched an extraordinary tirade against the head of the Starbucks coffee empire, accusing him of spreading gloom and overly denigrating the state of the British economy.

Angered at remarks by the company's chairman, Howard Schultz - who said the UK was in an economic "spiral" with "very, very poor" consumer confidence - Mandelson accused him of spreading unnecessary misery and speaking out of turn.
Speaking at a diplomatic cocktail reception in New York last night, he said: "Why should I have this guy running down the country? Who the fuck is he? How the hell are they [Starbucks] doing?"

Mandelson's remarks, made in front of journalists at the official residence of the British consul-general, came amid mounting concern in diplomatic and ministerial circles over hardening US opinion towards Britain's economic woes.

The rest of the piece is here. Mandelson's worry -- that exaggerated alarm over the state of the British economy could become a self-fulfilling prophecy -- actually seems reasonable. But this probably isn't the best way to air his concern.

Presented by

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism. He was previously a fellow at The Atlantic and an editor at The Guardian. More

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism, an economics blog that was recently published in book form by Simon and Schuster. He was previously a fellow at The Atlantic and an editor at The Guardian. He is also on Twitter.

How to Cook Spaghetti Squash (and Why)

Cooking for yourself is one of the surest ways to eat well. Bestselling author Mark Bittman teaches James Hamblin the recipe that everyone is Googling.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

How to Cook Spaghetti Squash (and Why)

Cooking for yourself is one of the surest ways to eat well.

Video

Before Tinder, a Tree

Looking for your soulmate? Write a letter to the "Bridegroom's Oak" in Germany.

Video

The Health Benefits of Going Outside

People spend too much time indoors. One solution: ecotherapy.

Video

Where High Tech Meets the 1950s

Why did Green Bank, West Virginia, ban wireless signals? For science.

Video

Yes, Quidditch Is Real

How J.K. Rowling's magical sport spread from Hogwarts to college campuses

Video

Would You Live in a Treehouse?

A treehouse can be an ideal office space, vacation rental, and way of reconnecting with your youth.

More in Politics

Just In