Probably not what the Target CEO expected at his shareholder meeting:
Several shareholders and shoppers were disappointed after Target donated money to the group. Musician Lady Gaga, who supports gay rights, walked away from plans to sell a special album at Target in early 2011.We would love to know Target isn't going to give any more anti-gay donations, especially with the anti-gay marriage amendment on the ballot in 2012.
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" when he sees those pension investments used unwisely.
A number of shareholders at Wednesday's meeting echoed his comments, repeatedly asking Steinhafel about the donation. Target has changed its review process for donations since the MN Forward donation, but some shareholders would like to see a more explicit apology and broader change from the company.
"Last year was a great learning experience for us," Steinhafel said as he repeatedly suggested moving onto a different topic.
"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," Steinhafel said (emphasis added).
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