Gregg Steinhafel has faced up to many challenges as Target CEO

  • Article by: BILL GEORGE
  • Updated: December 4, 2010 - 10:19 PM

Leader overcame proxy fight and Emmer controversy while strengthening company.

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sekhmet1Dec. 5, 1010:42 AM

There goes breakfast. Could you write a more boot licking article? Yeah, poor Gregg. He only made decisions that brought "challenges" onto himself. Where is the empathy for those whose Target jobs went to the India office, or were eliminated entirely under the cloak of a recession. Cry me a river.

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sekhmet1Dec. 5, 1010:54 AM

And he is such a FANTASTIC guy he fought to keep a women's eating disorder facility out of his neighborhood.

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ebenezerDec. 5, 1011:11 AM

C'mon, Bill...Steinhafel correctly resisted the push to fragment Target's infrastructure (this didn't require the insight of a genius) for strictly short term financial gain on the behalf of Ackman, but Target's stock price recovery has pretty much reflected the overall change in market conditions since the recession caused the company's stock price drop. In fact, nearly 10% of its recent price recovery has been during the current holiday season. The stock's current P/E ratio is still around 15.5 (Yielding a roughly 6.5% earnings ratio on stock price), and shareholders are receiving a 1.7% dividend return while "5% of the company's profits" (about .325% of the earnings ratio)are going to philanthropic causes. Meanwhile, too many of Target's employees are working in positions which do not reflect adequate living wage compensation or benefit plans. I haven't checked their balance sheet lately, but I would say Steinhafel could do better for his employees, and then some on retail costs for his customers. Perhaps he could learn something from Greg Page at Cargil about generating employee loyalty and support. Maybe you could set up a lunch?

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loring50Dec. 5, 10 5:44 PM

Naive sounds like the right judgement, I certainly hope it not indicative of sea change in what had been Target's public spirited culture. Shame on Target for forsaking the Minnesota values that helped create their success. We expect more of this home grown company, lets hope current leadership understands what is really important before it is too late.

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Duney69Jan. 17, 11 9:18 AM

Bull Pucky. Gregg has brought this company to its current low. He can affirm all he wants that his company has the GLBT policies, all the while using company funds to donate to candidates who would love to see the gays in this state washed right out of their sight. He can affirm while he and others on the personally funded the same people. Gregg could care less about GLBT folks. They even sunk so low last summer to buy the keyword "prop 8" to advertise on Google last summer, that is not an action of a sensitive company. The media keeps getting this point wrong, Gregg did not apologize publicly, he said he was sorry that the employees were upset about the donations, not that he was sorry for doing it. In fact after this "apology" he continued to donate to the same type of people all over the country most of them anti-gay. Besides all of this, the company has a policy of buying from gold suppliers that use child and forced labor, even WalMart does not do that. In California the company was caught dumping wastes illegally. Gregg sent 2,100 jobs overseas to India when MN had its highest unemployment rate. They thanked him by naming a building after him over there. Top all of this with an ongoing coupon redemption problem that has been going on for months and months. This man and company have brought on their own problems, to portray him as a victim is laughable.

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smeeagainJan. 17, 11 9:32 AM

He tarnished the name of an otherwise spotless brand. He chased thousands of customers away and they haven't returned. He showed the true face of corporate Minnesota. He should get fired.

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smeeagainJan. 17, 11 9:36 AM

Why is the strib even reporting this as "news"? There really is no "news" in the article. Its just a fawning love letter to a CEO. Is the paper hoping for more ad revenue?

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