Shame on Starbucks Shareholders

Starbucks Shareholders Reject Recycling Initiative

The idea that Starbucks seems to be the last to jump onto the recycling bandwagon sort of blows my mind. Especially when their contribution to the problem is so massive. Currently, 3 billion of their paper coffee cups sold each year in the U.S. market alone end up in the landfill. The sheer volume has a huge impact. But according to the Seattle Times, still no action, last week shareholders at the annual meeting voted against proxy 3, the company's recycling initiative.

While 11 percent of Starbucks shareholders were in favor of a proposed recycling initiative, it was far from enough support for the measure's passage. The proposal asked the board of directors to adopt a comprehensive recycling strategy for beverage containers.

Why? Cost of the program will lower their dividends?