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September 20th, 2012
12:42 PM ET

Starbucks CEO Schultz says US economy not on track yet, unveils new at-home espresso machine

Starbucks CEO Howard Schultz joins Soledad O'Brien and the "Starting Point" team to unveil the company's new "Verisimo" – an at-home coffee machine that brews Starbucks-quality espresso beverages. He also weighs in on the current state of the US economy.

When asked if he thought the economy was back on track, he says signs still point to improvements that need to be made.

"I think when you have 14 million people in America unemployed, a large percentage of those people are African-American and Hispanic. You've got a real problem," Schultz says. "The fact is that small businesses, despite what the banks have been saying, are not getting access to credit. As a result of that, we created our own program to provide small business with access to low- interest loans. We've raised a fair amount of money, we've created jobs."

"The problem that we have is that we've got to get people back to work in America," Schultz adds.

Soledad also asks recent polls, showing voter optimism about the economy.

"I think it is a good sign, but I think as you look at calendar 2013 and beyond, with the problems in Europe and the underpinning of the U.S. economy, the optimism perplexes me, as does the stock market," Schultz says.

Also in the show, Schultz unveils the company's new Varismo, the company's first in-home single cup espresso machine.

Filed under: Economy
soundoff (One Response)
  1. Mark

    Don't at home expresso machines already exist? Maybe they could partner with Apple and build the iPhone6 into the expresso machine. Christmas 2013??!!

    September 20, 2012 at 4:16 pm | Report abuse | Reply

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