Well, it’s finally happened. A company has strayed so far into politics, at the demonstrable and shattering detriment to its bottom line, that shareholders have begun a process that – unless Target mends its ways – will end in court.
As it happens, the shareholder making this initial demand is the National Center for Public Policy Research, where I direct our shareholder-activism efforts. But I very much doubt that we will remain the only shareholder demandants in this case, or the only plaintiffs, should this proceed to suit. Nor do I think that Target is the only company that will face such demands; the clearer it becomes that putting politics before demonstrable corporate value hurts the latter, the more interest will arise in pursuing these efforts.
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