Money can be a powerful symbol—even when it’s a small figure.
Many are remarking on the $1 apiece settlement that two African-American men received from the City of Philadelphia after they were arrested while waiting for a friend at Starbucks. Beyond that, though, the city is setting up a $200,000 fund for grants benefitting young entrepreneurs of color.
While much media attention is going to the city’s actions, Starbucks has quietly agreed to pay the Donte Robinson and Rashon Nelson an undisclosed sum. Starbucks also hopes to partner with the men to address cultural issues around race in the community as it tries to repair its damaged reputation.
After constructive conversations, Donte Robinson, Rashon Nelson and Kevin Johnson, ceo of Starbucks Coffee Company (NASDAQ:SBUX) reached an agreement earlier this week.