– Half of Republicans sampled in a recent poll favor letting the portion of the Bush tax cuts that apply to the rich expire, and to continue only the tax breaks for the non-rich. That’s pretty close to the position President Obama is taking, and if he and/or Rahm Emanuel are smart they’ll start talking up this bipartisan agreement.
– You’ve heard about the trouble Minnesota-based Target’s in for giving $150,000 to “MN Forward”, a media shop that claims to be bipartisan but which seems to function mostly as a fancy media shop and broadcast-media-ad factory for Minnesota Republican gubernatorial candidate Tom Emmer.
Well, now three major shareholders groups that are invested in both Target and fellow MN Forward donor Best Buy have thrown down the gauntlet:
Three leading sustainability investing firms have filed shareholder proposals this week at Target (NYSE: TGT) and Best Buy (NYSE: BBY), which are under fire for making sizable political contributions to a group channeling funds to a Minnesota gubernatorial candidate known for his opposition to lesbian, gay, bisexual and transgender (LGBT) rights.
Boston-based investment firms Walden Asset Management (“Walden”) and Trillium Asset Management Corporation (“Trillium”), and Calvert Asset Management Company, Inc. (“Calvert”) of Bethesda, MD, joined together to file a proposal at Target Corporation that asks the company’s independent board members to undertake a “comprehensive review of Target’s political contributions and spending processes including the criteria used for such contributions” and “oversight processes by management and the Board.” Calvert and Trillium have filed a similar resolution at Best Buy this week, Trillium on behalf of the Equity Foundation, which works to eradicate prejudice towards the sexual and gender minority communities of Oregon. Collectively, the shareholders control more than 1.1 million shares of common stock in Target worth $57.5 million, and 344,000 shares of Best Buy worth $11.3 million.
Stay tuned, folks. This is going to get interesting.
– And one of our Seminal diarists has some good news to share with us, too, for which I am deeply grateful.
Got any good news to share? Put in the thread and grab a cup of coffee. Or tea. Or whatever you desire.