Mr. Smith goes to 18th and Spruce

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“I own it.” That’s the message conveyed by Starbucks CEO Kevin Smith in the wake of the company’s handling of a recent controversy surrounding the arrest of two black patrons recently at a Philadelphia location. As Bloomberg’s Sarah Halzack points out, Starbucks decision to close 8,000 of its stores for a day so as to conduct bias training next month won’t dent the company’s balance sheet, but the gesture’s symbolism is powerful.