Tuesday Tipsheet: Target CEO Moves Execs | F. Dollar Poison | D. Gen. to 43 States
“At Target, board vote should be 6 yes, 1 no” by Lee Schafer at Star-Tribune. “(James) Johnson is no more responsible for Target getting hacked than any of the others, but he should have long since been gone from this board because of his disastrous turn as CEO of Fannie Mae. While he’s managed to remain a statesman, he is as responsible as anybody for putting in motion the practices that led to the 2008 economic collapse while collecting Wall Street levels of compensation to do it.” Read more
“Why a Publix-Whole Foods deal makes sense — and why it doesn’t” by Margie Manning at Tampa Bay Bus. Journal. “All this talk is ramping up focus on this year’s United Fresh Show in Chicago, which will feature a keynote address by Ed Crenshaw, Publix CEO, on Wednesday.” Read more
“Family Dollar board approves ‘poison pill’ “ by Jennifer Thomas at Charlotte Bus. Journal. “In a filing with the U.S. Securities and Exchange Commission, the Matthews-based company says the board approved a “poison pill” measure Sunday to protect shareholders if a stockholder buys as much as a 10 percent stake in Family Dollar.” Read more
“Dollar General to expand to 43 states by adding stores in Maine, Rhode Island and Oregon” “The major discount retailer will begin construction on stores in Maine and Rhode Island this fall with plans to expand into Oregon in early 2015.” Read the release
“Target CEO Moves Top Execs to Same Floor to Fight Bureaucracy” by Paul Ziobro at WSJ. “All across Target, we need more ‘leadership’ and less ‘committee,’” Mr. Mulligan said in the letter reviewed by the Wall Street Journal. The top executives like Chief Marketing Officer Jeffrey Jones and Chief Information Officer Rober DeRodes will be relocating to the 26th floor in Target Plaza South, where Mr. Mulligan and Executive Vice President Kathryn Tesija currently have their offices. The floor will be getting a more open plan than its current layout of office and hallways, aimed at fostering greater collaboration.” Read more
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“Home Depot Stays at #1 in Radio (Walgreens #5, Kohl’s #10)” at Radio Ink. See Last Weeks Top 10 Radio Advertisers
“Why Walmart could be good for NYC” by John Burnett at NY Post. “Like most New Yorkers, I found it pretty nutty when many City Council members and their cohorts demonstrated last week against Walmart’s donations to local New York City charities. But the fact is that the deep, longstanding hostility to any Walmart presence in the city is just as crazy.” Read more
Report: “Target Tried to Get more Cyberattack Insurance” by Nicole Perlroth & Elizabeth A. Harris at NY Times. “At the time of its breach, (Target) had cobbled together $100 million in coverage, on top of a $10 million deductible… The coverage, which came from multiple carriers, will barely compensate for the $1 billion in losses some analysts are forecasting. Since the breach was discovered, the company has incurred $88 million in breach-related expenses, its filings say, and it expects insurance to cover $52 million of that.” Read more
“Walmart.com CEO Joel Anderson to Step Down” by Alistair Barr at WSJ. “Fernando Madeira, who is currently president and CEO of Latin America at Walmart will replace Mr. Anderson and take on a broader role to lead Walmart.com in the U.S., Latin America and other growth areas.” Read more
“Amazon fills up another four office buildings” by Sanjay Bhatt at Seattle Times. “Amazon.com has finalized long-rumored office leases for more than 546,000 square feet in three Seattle buildings, and inked yet another deal for 26,000 square feet in the newly renovated historic Supply Laundry Building, public records show.” Read more
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