Archived Where the budget for rewarding team members went..

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talan123

Team Member/Troll
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On 01-09-2013, the board got bonuses in the form of stock options.

They gave themselves, in total, 186,889 shares for free for that one day and yes, they were for free. Since Target has started yet another massive share repurchase, those funds have to come somewhere. With an estimated share price of $62, that comes to $11,587,000.

Cost to stores? $6572.00 each or about $550 a month.
 
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Love it. Sad, but true. It would have been better if you could have worked "549" in there somewhere.
 

commiecorvus

Former Signing Ninja
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On 01-09-2013, the board got bonuses in the form of stock options.

They gave themselves, in total, 186,889 shares for free for that one day and yes, they were for free. Since Target has started yet another massive share repurchase, those funds have to come somewhere. With an estimated share price of $62, that comes to $11,587,000.

Cost to stores? $6572.00 each or about $550 a month.
\

/me hangs his head and sighs.
Really Spot?
You're that greedy, short sighted and stupid?
Sigh.
 

mrknownothing

purveyor of things
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redeye58

Hasta Ba Rista, Baby!
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Way to go, spot.
The levels you stoop to strip your TMs/TLs of anything approaching dignity (pay, equipment, respect) know no bounds.
All so you can grab every last buck.
 

buliSBI

Former Team Member
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Target is just becoming like Walmart. They are over-expanding. I have been witnessing stores opening up within 5-10 minute drives of one and another. Then closing the newly envisioned under-performing and high risk stores. Cutting benefits and hours to keep TMs from earning benefits.

Back during the Bob Ulrich days, Target had a different business plan and was making a profit. With Gregg, its where can we cut next so stockholders can get more money and keep TMs under foot.
 
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all stores use to have fun fridays something cool going on maybe a ongoing game on the walki like trivia or bingo. maybe some fun event during the huddle, or a day of food in the break room ice cream maybe bp and j day, chips and salsa, milk and cookies etc. then the fun calender came out from corp and it had a bunch of wellness stuff ok i get that but it seems like they take wellness to the extreme now. our callender at work has no fun events on them anymore is target doing away with making employees want to come to work, they have the fortune cookies for getting red cards but the cookies are so cheeply made baked that they are all crumbled and you can see the prizes inside
 
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Target is just becoming like Walmart. They are over-expanding. I have been witnessing stores opening up within 5-10 minute drives of one and another. Then closing the new visioned under-performing and high risk stores. Cutting benefits and hours to keep TMs from earning benefits.

Back during the Bob Ulrich days, Target had a different business plan and was making a profit. With Gregg, its where can we cut next so stockholders can get more money and keep TMs under foot.

There are three other Targets within a 10 minute (or less) drive from the one I work at.
 
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On 01-09-2013, the board got bonuses in the form of stock options.

They gave themselves, in total, 186,889 shares for free for that one day and yes, they were for free. Since Target has started yet another massive share repurchase, those funds have to come somewhere. With an estimated share price of $62, that comes to $11,587,000.

Cost to stores? $6572.00 each or about $550 a month.

This is one of the reasons I'm glad we have smart people like Talan here. Good info Talan.
 
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No wonder my Mom loves her Target stock... haha..

She'd be best to sell now. This type of business activity of selling assets and failing to retain talent is not sustainable long term. While their stock is mostly going up right now because of all the assets they have used to repurchase their shares, as soon as they need to raise capital again they'll start selling shares again. At that point the price is going to steadily decline again as the number of outstanding shares rises. Their stock is headed down soon, it might not be within the next year but you will see the day of $30 shares again...

Why get upset over the lack of snacks and small rewards? They were never a substitute for a decent hourly wage. That is the real problem.

Because that was what they were offering instead of a decent hourly wage and now they've taken that away as well.

Exactly, now we're left with the same crap wages and no reason to be happy to be going to work. My store has food/treats listed on our FFF calender usually 3-4 days per week. In actuality, food/treats get put out about once a week if we're lucky.
 
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pellinore

Life sucks and nothing good can come of it.
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With all the employee benefit/hours cuts this year, that is just shameful. :sorry:

With the $549 per moth per store, the only way to get that money is to cut the benefits & hours.


Pretty soon the only people in the stores will be the flow team and a couple of cashiers!
 
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