Why Magic Johnson chooses to work with Starbucks instead of opening "Magic Johnson's Coffee Shop"
"Minorities like brands," says Magic Johnson. "So it makes sense to go to the No. 1 coffee company in the world and say, 'Hey, there's an opportunity here that you're missing and let's go in and do it together.' And that's what minorities wanted. When I went out and surveyed, 'What do you want?', everybody wanted Starbucks. You don't go and get something else when everybody wanted Starbucks." (Read the story at charlotte.com)
"Minorities like brands"?! I'd say his Magic Coffeehouse or whatever wouldn't have had much of a shot with statements like that.
Posted by: Just Me | July 24, 2006 at 05:45 AM
Minorities like brands -- that implies that whites don't.
Super logic.
Of course, this is the guy who claimed that his AIDS disappeared because of his prayers to God, went off his meds 11 years ago ... and quickly discovered his symptoms reappeared.
Good thing his business decisions are not really made by him. Johnson is a well-paid figurehead for business operations run by Carlson Companies.
Posted by: Barista Joe | July 27, 2006 at 02:35 PM
(i think he's saying that minorities ALSO like brands, just like the whites...)
Posted by: | July 27, 2006 at 02:41 PM
In the UCO stores, Magic's real profit doesn't come from coffee. The real money in this deal is from real estate. As most people know, putting a sbux in a neighborhood has a positive effect on the property values. This is great for Magic, who buys many nearby residential and commercial buildings before the starbucks starts construction.
Posted by: sbuxmanager | July 29, 2006 at 05:52 AM