Starbucks turns 40

For Starbucks' 40th anniversary, "60 Minutes Overtime" revisits the rags-to-riches story of Starbucks CEO Howard Schultz, who grew up in a Brooklyn housing project

2006: Howard Schultz, the star of Starbucks

Is Starbucks homogenizing the neighborhoods of America with its ubiquitous coffee shops? Is Starbucks homogenizing the world by opening its franchises in every corner of the globe? Is a cup of coffee even worth $4? Whether you love Starbucks coffee or hate it, there's no denying its impact and success in the American marketplace.

This week marks the 40th anniversary of Starbucks Coffee. In this 2006 "60 Minutes" story, correspondent Scott Pelley takes us back to the original Starbucks, a modest store that opened in 1971 on Seattle's seafront. Howard Schultz walked into that coffee shop one day. He was an appliance salesman at the time, selling coffee makers. Schultz says he immediately knew he was "home." He put on a Starbucks apron and later bought the company, eventually transforming it into a multi-national corporation worth billions. It's the quintessential American rags-to-riches story. Enjoy.