Tag Archives: Stock Loss

TARGET CEO Hammered With Questions About Anti-Gay Donations By Shareholders As Stock Tumbles

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

TARGET Stock Loses $1.3 BILLION In Stock Market Capitalization After Tom Emmer Donation Boycott Begins

Target Corp. has lost $1.3 billion in stock market capitalization sinceJuly 27th 27, when Target Chief Executive Gregg Steinhafel first defended the donation of $150,000 to help a pro-business, anti-gay-marriage Republican gubernatorial Tom Emmer  Over the same six trading days, stock prices rose at Target’s largest rivals, Wal-Mart Stores Inc. and Costco Wholesale Corp. Broader market indexes also were up, including the Dow Jones industrial average and the S&P 500 proving that this was not related a retail or whole market trading slump.

Target spokeswoman Jenn Glass attes that the shifting stock price reflects “too many factors that we can’t attribute it to just one thing.” Despite the fact that gay advocates, their supporters and progessive groups are standing up to the retail giant. 

Yea for OUR side!  1.3 BILLION Dollars Lost Target!  And it ain’t over yet bitches.  Not by a long shot!