TARGET Chairman, President and Chief Executive Gregg Steinhafe was prepared to talk about how even though Target is seeing profits its shares have hit an 18-month low on concerns that the retailer is not seeing enough shoppers buy high end items (Piss off the gays and the money goes away) at the company’s annual meeting yesterday.
Instead Steinhafe was HAMMERED with questions about Target’s $150,000 to MN Forward, a GOP group that supported GOP gubernatorial candidate Tom Emmer.who supported a proposed amendment to Minnesota constitution to ban gay marriage.
Bill de Blasio, New York City public advocate and trustee of the New York City employees retirement system, which holds about $50 million in Target shares, said on Tuesday that he is “deeply concerned” which was echoed by other shareholders to the point where Steinhafe was so overloaded with questions about Targets political giving at one point in the meeting he said. “Does anybody have a question relating to our business that is unrelated to political giving? I would love to hear any question related to something else,”
Target shares plunged 21.7 percent from the beginning of 2011 through Tuesday