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Target Shareholders Get Mad


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Target shareholders are demanding that the company reform its donation policies to avoid a repeat of the controversial $150,000 donation it made to MN Forward, which supports antigay gubernatorial candidate Tom Emmer.

"Imprudent donations can potentially have a major negative impact on company reputations and business if they don't carefully and fully assess a candidate's positions," said Tim Smith, a senior vice president at Walden Asset Management, according to the Los Angeles Times. His firm was one of three (the others were Calvert Asset Management and Trillium Asset Management) to file a resolution this week asking the retail giant to overhaul its campaign donation policies. Together the three firms manage $57.5 million in Target stock.

Additionally, the New York State pension fund holds 3.8 million Target shares, and New York comptroller Thomas DiNapoli agrees that the company should have been more careful in considering the political implications of such a donation.

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Reader Comments
  • Name: NoMoreMurder
    Date posted: 8/22/2010 11:13:22 AM
    Hometown: USA

    Comment:

    The real issue is the organization to which Target and Best Buy donated also support a Christian rock group whose position is it's okay to assassinate gays. That's right. I don't really care who Target supports for governor. I do care that they support an organization that supports the murder of gays. I will not buy anything again at either store until they withdraw support for this organization and ask for their donations back.

  • Name: someone
    Date posted: 8/20/2010 1:02:17 PM
    Hometown: SE Wisconsin

    Comment:

    We used to shop every week at Target, whether or not we needed anything. Haven't set foot in the store since this story broke, and it's going to take a lot to get us back. We too hate Walmart, not sure what the next best is between Kmart and Shopko (or the lesser of the 2 evils?). Have to say, we have saved quite a bit over the last month since impulse purchases are now drastically reduced- thanks Target! Anyone know where Best Buy is in all of this? We heard about their donation too, but hardly a word since. Has HRC approached them with the same requests? Or is the LGBT community suppossed to be giving them a free pass? Overall, we're bummed that what seemed like two very good, customer orientated, and gay friendly stores did something like this- yes it may be "good for business" with candidate A pledging less taxes, but what good is it if you loose a lot of your customers because of it?

  • Name: t
    Date posted: 8/20/2010 12:40:21 PM
    Hometown: t

    Comment:

    you all are tools! and soon will be shopping back at Target.

  • Name: t
    Date posted: 8/20/2010 12:35:09 PM
    Hometown: t

    Comment:

    bye-bye

  • Name: gary
    Date posted: 8/20/2010 12:02:39 PM
    Hometown: troy, tn

    Comment:

    My spouse and i live in rural tn and we loved goimg into a larger city to go to Target and shop.Now we will never buy another item from them, we dont like wallmart and i guess kmart will be getting our money untill target makes it right, oh by they way my whole extended family will not be going there anymore,

  • Name: jacob
    Date posted: 8/20/2010 8:47:38 AM
    Hometown: holman

    Comment:

    I won't step foot in a Target until they make it right. Does Target own any other comapnies? Or, does another company own them?

  • Name: bob
    Date posted: 8/20/2010 8:38:31 AM
    Hometown: palm springs

    Comment:

    Kmart is a great alternative, it is owned by Sears and they are very Gay friendly...I can't believe that Target was so stupid as to just 'stand its ground'...perhaps they should have done a 'we did not think of it like that' and given the same amount to Human Rights ... good for the shareholders! "Taking sides" for some one who serves the public is not the best strategy.

  • Name: BobNYC
    Date posted: 8/20/2010 7:54:34 AM
    Hometown: New York City

    Comment:

    To James: Your last sentence says it all: "Maybe corporations shouldn't be donating money at all..." And we ALL need to impress that on corporations. Especially considering that most CEOs who control and make decisions about money are conservative or ultra-conservative and see this as a way of getting back at laws that protect Gay rights. Do not be fooled to think these guys aren't relishing their new found freedom of expression using customers dollars to fund their personal views. I worked for 3 of them and they are nasty people who want to control other people's lives.

  • Name: john in SF
    Date posted: 8/20/2010 7:13:16 AM
    Hometown: San Francisco

    Comment:

    With there attitudes, they will never make it into San Francisco. It is almost too late now, we are turned off by Target. THis could be one of the fastest death spirals of any company anywhere. They totally had the gay community,we loved target. Oh, well, guess we will have to switch to Kmart.

  • Name: ChristopherH
    Date posted: 8/20/2010 2:08:14 AM
    Hometown: Denver

    Comment:

    @James: You are correct. Target can most certainly make donations as it wishes ... and those populations most directly affected by those donations will exercise their First Amendment freedoms by protesting in response ... and stockholders will exercise their privileges as expressed through their legitimate interests in the company by demanding a change in policy if they feel the company's actions are have a negative effect on their returns ... There is nothing strange whatsoever about all this ... it is all fairly straightforward ...



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