Tuesday, April 15, 2008

Schultz Steps Up to the Plate!


Front page news this morning on The Seattle Times. It's pretty hard to believe, but Howard Schultz (yes, the selfish CEO of Starbucks) is now in talks with his legal team to sue Clay Bennett, current owner of the Sonics, in the next two weeks. The lawsuit alleges that when the team was sold, it was on the unofficial grounds that the team would remain in Seattle. According to Schultz's lawyer, the "damages that are being sought is to rescind, unwind the transaction". While I'm not sure if that is necessarily true, it's nice to see Schultz, or at least his PR team, is listening to his publics.

Schultz does have some possible ammunition in reserve for the case. In the lawsuit that the City of Seattle has brought against Bennett, really damaging emails have been made public knowledge. The emails demonstrate the intent the move the the team away after Seattle immediately its sale. While I'm sure Schultz must have had some idea this would happen, it appears to be in violation of the sale agreement. Will it be enough to keep the Sonics in Seattle? We will see. Until then, for the time being, keep enjoying Starbucks products.

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