Target Corp.’s shareholders have re-elected the company’s slate of directors, rejecting a hedge fund’s alternate slate, according to preliminary vote totals.
The head of Pershing Square Capital Management has argued that the struggling retailer needed new perspective, especially in the areas of retail and real estate so it can better compete with rival Wal-Mart Stores Inc.
Shareholders rejected those arguments at Target’s shareholder meeting outside Milwaukee on Thursday. Shareholders also sided with the company in approving a measure that sets the board’s size at 12 members.
Target shareholders reject Ackman board slate [AP]
Update: Margaret Brennan: “Reportedly Ackmann himself is very disappointed with the results; he in fact choked up during his presentation today.”
sounds like someone needs a shoulder to cry on…
What does Ackman do next? Just dump his shares and fade away into obscurity? Not saying Target is better without him, but he’s got to move on, doesn’t he?
@2- didn’t he pledge he wasn’t going to dump his shares for 5 years?
@2 he waits for the next round of suckers to give him 2 and 20 to buy shares of one company
@4- amusingly, a lot of the “suckers” were fellow fund managers.
unfortunately this will give him an excuse as to why tgt continues to underperform.
anyone take your plan to save the global economy seriously yet bill?
1 stock fund. what could go wrong?
he actually started (or almost started) crying? WTF?
I bet I could get Margaret Brennan to choke up …
There’s no crying in trading!
I keep forgetting why this fuc*ing guy exists…
does this mean more commercials with the dog that has the bulls-eye over his eye? i found that pooch to be hysterical!
Tim Tebow could be pounding one of you in the ass for all I care.
Ack Ackmann
the only time to cry* is when you have the bonus discussion with your boss…
*this is not really crying per se. however, you can never show that you are actually pleased with the number. this will signal that you were overpaid causing actual pain the following year.
@13, haven’t you used that one already today?
Cheer up Ackman. Us financial wizards really do know how to run retailers the right way. These amateurs don’t know nothin.
-Eddie L.
Hay Ackmann – get a life, obviously your ideas suck otherwise someone else would have already done them. TGT taking on leverage and paying market rates for real estate they already own only makes sense for you. Go back to your hedge fund and shut up. The Street only likes Einhorn’s ideas because he actually makes sense.
Ackmann is like North Korea alot of rhetoric and could probably only fight for 15 mins. before he folds like a chair……
fucking calimero
XIGHZ3 I think this is a real great article post. Much obliged.