August 2019

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Peter,

I had the opportunity to hear Magic speak at the Association of Financial Professionals Conference in Los Angeles this summer. I was not expecting much, was I mistaken. Not only is he a great speaker, he is quite an entrepreneur.

He told us he has raised a billion dollars that is sitting in the bank on the sidelines, to buy real estate. He supplies beef for half the Burger Kings in the country. I think he owns something like 60 Starbucks. It goes on and on.

Lest anyone think it was easy for Magic to do this, during his speech he told us about how many banks turned him down for various projects. "They all want your autograph and a picture, but they didn't want to give me any money."

I think he owns something like 60 Starbucks.

Starbucks is not a franchise. All stores are owned the by the starbucks corporation.

Oil Shock,
Earvin Johnson does in fact own a number of starbucks coffee shops.

http://www.inc.com/magazine/20041201/celebrity-johnson.html

But it is true that they do not franchise
http://www.starbucks.com/customer/faq_qanda.asp?name=common

He has the Magic on and off the court to be the only franchisee.

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Way to go, Purcellville! I have a sister who moved there 4 years ago, and she was impressed with how "green conscious" this country town is. She also mentioned that the "powers that be" do a great job of educating the residents and providing community support for their programs.

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