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
The usually very gay friendly Home Depot is finding itself in a bit of a pickle as news comes of allegations of anti-gay political giving that has some its shareholders up in arms.
While Home Depot by outward appearance is very LGBT friendly there are instances in its past where Home Depot’s eponymous political action committee. has for instance donated to anti-gay pols like in 2006, the PAC donated $1,000 to Kansas Republican Sam Brownback, now the state’s governor and a supporter of a constitutional amendment banning same-sex marriage, and gave $10,000 to help Bob McDonnell’s gubernatorial campaign in Virginia. McDonnell is a staunch opponent of workplace protections for LGBT state employees.
So to rectify this Julie Goodridge, CEO of NorthStar Asset Management of Boston, a socially active investment firm has introduced a measure that Home Depot shareholders will be voting on urging the company to disclose all political campaign spending—past and projected, to candidates and third-party outfits—to elect or defeat candidates running for office. The resolution would give shareholders the chance to vote for or against Home Depot’s campaign contributions and make the firm’s top brass study whether the company’s political spending would damage Home Depot’s value and image
Not surprisingly, Home Depot says it’s the role of their executives, not shareholders, to choose how to make political contributions.
The usually LGBT friendly Home Depot is currently under attack by the American Family Association for being “too gay friendly and promoting a gay agenda”
Pick a freakin lane people. Love us or hate us.
Just let me know so I can spend my gay money where its truly wanted and appreciated.
Here we go again!
First TARGET and now 3M the technology, health care, security, tape and manufacturing giant has donated funneling some 100,000 dollars to MN Forward, the Minnesota business PAC that wants to elect Tom Emmer governor of the state, despite his opposition to basic things like gay rights, marriage equality and anti-bullying measures.
3M, like TARGET has a 100 percent rating in the Human Rights Campaign’s Corporate Equality Index and HRC’s Buying for Equality guide. (HRC has dropped TARGET and BEST BUY from the guide since. (Perhaps HRC should just DROP The Guide PERIOD)
3M is also using Target’s excuse to explain its donation, which only became public because of Minnesota’s election finance disclosure rules. “That donation is about advancing public policy that will foster a more competitive business environment,” says a 3M rep. (Meanwhile, notes the Minnesota Independent, “The company declined to elaborate further on the motivation for the contribution, and would not say if they were directly supporting Republican gubernatorial candidate Emmer. But a quick glance at MN Forward’s expenditure records reveals that any contribution to MN Forward essentially serves as a donation to Emmer rather than support for general ‘business policy.’ Over 95 percent of MN Forward’s campaign spending has been devoted to Minnesota’s gubernatorial campaign, with only minimal amounts directed at lower ballot races.”)
And yes HRC has “reached out” to 3M but isn’t commenting further until they hear back. Even though its public news that they donated to MN Forward.
Trash those Post It’s girls!