business

Mervyn's was a great store, they are missed.

This is exactly why short-term investment is bad for business. People want instant profit now, and who cares if the business goes under. Sounds like a Mittens Romney approach.

So, in other words, Target engaged in the same kind of wealth stripping as Bain Capital and the banks that destroyed the American Economy? Say it ain't so!

This has nothing to do with Romney or Bain... Regardless, where do you think those profits went? Here, where Target is based. Target is huge Minnesota asset, why are you mad they made a profit? Should they have distributed the profits equally to every man, woman, and child?

Guaranteed that if Target were privately owned it's primary owners would be spending some time in prison for the scheme.

Mervyn's was a great mid-price store. Although when I worked there, I often processed more returns than purchases in a day. But we got great discounts - 10% at Target, 15% at Mervyn's, and 20% at Dayton's. Ahh the good old days!

Mervyn's was a dog of a retail store for years. For the most part, they were a twin of Kohls, but for some reason shoppers avoid Mervyns, even in the twin cities.

Cerberus (from Greek mythology - the three headed hound guarding the gates of hell) took over Chrysler after Diamler partially ran it into the ground and then proceeded to bleed it some more, but still trying to keep it alive. Then the recession hit and Chrysler went into bankruptcy with Cerberus losing lots of money. Former Vice President Dan Quayle works at Cerberus - enough said.

Cerberus is the bad guy in this case. They are a known asset stripper. Target sold the business to them in good faith. Cerberus stripped the assets after they bought it. Target played no role in that action.

This is what Ackman tried to get Target to do before he tried to take it over... Sell the land under the stores, then lease it back... it makes a "quick buck" for the company selling the land, but then screws them when that money is extracted, and rents start going up.