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Howard Schultz: Business leaders must do more

Howard Schultz: Business leaders must do more

Jim Cramer is a huge fan of Starbucks, which has yet again proven itself as not only just serving coffee, but in leading the way to create awareness for a better world.

And even after reporting a remarkable quarter recently and running up 38 percent this year, the stock is still a buy, buy, buy for Cramer.

Cramer checked in with Starbucks founder, chairman and CEO Howard Schultz, as the Schultz family foundation just helped to launch a massive job fair in Chicago. The effort was in part of the 100,000 Opportunities Coalition, which aims to work with employers to create jobs, internships and apprenticeships for disenfranchised young people over the next three years.

The coalition brought together 29 companies and individuals that would usually compete against one another. However, there was no discussion of earnings or products at this job fair. Companies like Walgreens, Chipotle, Macy's, CVS Health and JPMorgan all participated in the effort.

Jason Alden | Bloomberg | Getty Images

Additionally, Schultz has pledged to create 10,000 of those positions at Starbucks alone.

"I think what this demonstrates, more than anything else, is that this is a time in America where the private sector must step up. I'm so proud of the people I called; no one turned me down," Schultz said.

Cramer pointed out that usually this is the type of effort that one would expect the federal government to launch and encourage corporations to support. What does this say about today that it is the corporations leading the way?

"I think that the rules of engagement, unfortunately, have changed…I think whether you are Republican or Democrat, unfortunately, there is a void in this country with regard to servant leadership, and businesses have to demonstrate, and I think we are emblematic of that as a company that not everything is for profit," Schultz responded.

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Schultz added that his goal of this effort is to bring together like-minded companies and leaders to bury the hatchet of competition and recognize that there a significant amount of America's disconnected youth, many of whom are African American or Latino and are not in school and not working.

"At this time in America, there are 5.6 million people who do not see themselves in the American dream, and we have to reverse that," Schultz added.

Additionally, Schultz added that we are in a time in America where businesses and business leaders must recognize that they must do more for the U.S., for society and the communities they serve.

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