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Target, Best Buy feel investor backlash over political donation

LGBTQ Nation • Friday, August 20, 2010 • Filed under: Business, Minnesota • Comments (0)

After weeks of public protest over its financial support of an organization that backed a GOP gubernatorial candidate opposed to gay rights, Target Corp. now faces a new form of pressure: demands from institutional shareholders that it revamp its donation process to avoid the chance of additional backfires.

From the Los Angeles Times:

“Imprudent donations can potentially have a major negative impact on company reputations and business if they don’t carefully and fully assess a candidate’s positions,” said Tim Smith, a senior vice president at Walden Asset Management, one of three asset management firms that this week filed a resolution asking the retail giant to overhaul its campaign donation policies. He cautioned that funding ballot initiatives, as many corporations have done, “can similarly backfire.”
The three management firms sponsoring the resolution — Calvert Asset Management, Trillium Asset Management and Walden — together hold $57.5 million of Target stock. Other institutional investors, including the giant New York state pension fund and union investment managers, are considering co-signing the resolution, which calls on Target’s independent directors to review the criteria and risks in making donations to organizations active in political campaigns.

Retailers Target and Best Buy were among several Minnesota firms that gave large donations to MN Forward, a new tax-exempt committee running ads backing GOP gubernatorial candidate Tom Emmer, a staunch opponent of LGBT rights and same-sex marriage.

Best Buy has received the same shareholder resolution as Target, which calls for a far more rigorous and specific review by independent board members and for disclosure of the company’s contributions policy.

Previously from LGBTQ Nation:

Target rejects HRC call for ‘make it right’ donation to gay causes

LGBTQ Nation • Monday, August 16, 2010 • Filed under: Business, Minnesota • Comments (0)

Target Corp. said Monday it has no plans to donate money to gay-friendly causes to quiet the protests over a $150,000 donation that helped support a Minnesota governor candidate who opposes gay marriage.

The Human Rights Campaign (HRC) said the Minneapolis-based retailer had effectively rejected the group’s proposals to donate to gay rights organizations to offset the earlier donation.

In a statement, Target said:

“Given the current political and emotionally charged environment, we have concluded that it is best to wait before taking further external action regarding our MN Forward contribution. We believe that it is impossible to avoid turning any further actions into a political issue and will use the benefit of time to make thoughtful, careful decisions on how best to move forward.”

The HRC issued this statement:

“After two weeks of good-faith discussions -– and two tentative agreements –- with Target Corporation, the company has informed the HRC that it will take no corrective actions to repair the harm that it caused by contributing $150,000 to an organization supporting a vehemently anti-gay candidate closely associated with a Christian rock band that advocates death and violence to gay people. In response, HRC announced that it will devote $150,000 of its own resources to help elect a pro-equality governor and legislature in Minnesota. The next governor will likely have the opportunity to either sign or veto marriage equality legislation in the North Star State.
“All fair-minded Americans will now rightly question Target’s commitment to equality. If their initial contribution was a slap in the face, their refusal to make it right is a punch in the gut and that’s not something that we will soon forget,” said HRC President Joe Solmonese.

Previously from LGBTQ Nation:

‘Target’ political donation helps fund anti-gay candidate for Governor

LGBTQ Nation • Tuesday, July 27, 2010 • Filed under: Business • Comments (4)

Target Corporation has come under fire from gay rights advocates and LGBT activists for contributing to Minnesota Forward, a political action group that has come out in support of anti-gay gubernatorial candidate Tom Emmer.

The Minneapolis-based retail chain gave $150,000 to the Republican-friendly fund, which is running television ads supporting Emmer, the presumptive GOP nominee.

Emmer is a staunch opponent of same-sex marriage. In 2007, he authored a constitutional amendment to prohibit same-sex marriage and civil unions, and makes this statement on his campaign website:

“I believe marriage is the union between one man and one woman. As a legislator, I have consistently supported the constitutional marriage amendment that protects traditional marriage.”

Until now, Target has been usually regarded as fairly pro-gay, offering partner benefits for employees and appearing on many lists of the best places for gays to shop and work. Continue reading…

Previously from LGBTQ Nation:

Google to compensate gay and lesbian employees for unequal tax treatment

LGBTQ Nation • Thursday, July 1, 2010 • Filed under: Business • Comments (0)

Google announced on Thursday that it will begin compensating gay and lesbian employees for an extra tax they must pay when their partners receive domestic partner health benefits — a tax that married straight couples are not required to pay.

From the San Jose Mercury News:

While a few organizations, such as Cisco and the Kimpton Hotel chain, have already begun to “gross up” their employees pay to address the disparity in how workplace health benefits for same-sex and heterosexual married couples are taxed, Google’s powerhouse status could fuel the trend, putting pressure on other employers to follow suit and on policy-makers to restructure how domestic-partner health benefits are taxed.

“Google is really taking a leadership role here,” said Daryl Herrschaft, director of the Workplace Project for the Human Rights Campaign in Washington, D.C. “This is a really important step for gay and lesbian employees because it eliminates a tax burden they’re subject to because their families aren’t recognized under federal law.”

Under federal law, employer-provided health benefits for domestic partners are counted as taxable income, if the partner is not considered a dependent. The tax owed is based on the value of the partner’s coverage paid by the employer.

On average, employees with domestic partners will pay about $1,069 more a year in taxes than a married employee with the same coverage, reports The New York Times.

Previously from LGBTQ Nation:

McDonald’s airing gay-themed ad in France: ‘Come as you are’

LGBTQ Nation • Tuesday, June 1, 2010 • Filed under: Business • Comments (8)

McDonald’s is running a new ad on French TV that features a gay teen and his father, who is unaware of his son’s orientation.

The ad shows a gay teen seated at a McDonald’s table, talking to his boyfriend on his cell phone. He hangs up when he sees his father coming.

The father, unaware of his son’s sexual orientation, proceeds to joke about the son’s all-male class at school. “It’s a shame you’re in an all boys college. You would have had all the girls chasing you.”

The gay son only smiles as they begin eating their food. Watch here:

The commercial, part of McDonald’s “Come as you are” campaign, is intended to show that it welcomes people from all walks of life.

Previously from LGBTQ Nation:

FedEx to expand health coverage to include same-sex partners

LGBTQ Nation • Tuesday, June 1, 2010 • Filed under: Business, Tennessee • Comments (0)

Shipping giant FedEx announced Tuesday it will begin offering health insurance to same-sex domestic partners.

The benefit won’t become available until January 1, 2012, and while the company has yet to finalize many of the details, it has announced the expansion of its benefits program nonetheless.

The Memphis-based shipper had been coming under pressure from LGBT employees and advocacy groups to expand its health-benefits package during an annual review process.

“Several of our employees have been asking for the benefit and, because we knew the economy has improved, we’re able to expand our benefits,” said Sandra Munoz, a company spokesperson.

FedEx said it will take time to add the benefit to a package that was cut to deal with the recession, referring to the 2012 effective date. It will be extended to all 225,000 domestic employees. Continue reading…

Previously from LGBTQ Nation:

Fire Island Pines: Popular gay getaway resort sells for $17 million

LGBTQ Nation • Saturday, March 27, 2010 • Filed under: Business, New York, Travel & Leisure • Comments (0)

In the largest transaction in Fire Island history, an investment group has purchased the vast majority of commercial property and establishments in Fire Island Pines, the internationally famous gay community.

Hotel Ciel at Fire Island Pines

The $17 million purchase includes the famed Pavilion nightclub complex, the Blue Whale and Bay Bar restaurants, the Hotel Ciel, a grocery store, gym and clothing store, as well as numerous retail spaces and residential properties. Continue reading…

Previously from LGBTQ Nation:

Citibank apologizes to gay website, says ‘inapproporate content’ statement was in error

LGBTQ Nation • Thursday, February 25, 2010 • Filed under: Business • Comments (0)

One of the nation’s biggest banks went into damage control overdrive today after it reportedly froze the bank account of the startup gay social networking site, Fabulis.com, for what it described as “objectionable content” on the company’s blog.

According to Fabulis founder Jason Goldberg, he was told by three different Citibank employees that his site was “not in compliance with Citibank’s standard policies.”

We reported the story earlier today, as did hundreds of news organizations, gay-oriented sites and bloggers, and banking industry sites, setting off widespread speculation that the bank’s action was a homophobic response to a gay-themed website.

Upon reflection, Goldberg could not understand what the bank deemed “objectionable?” But more important he questioned, “when did Citibank start reviewing blogs to decide who could bank with them?”

News comes late today that Citibank has relented, reports Goldberg, who received this email from William E. Brown of Citibank: Continue reading…

Previously from LGBTQ Nation:

Citibank blocks account of gay social networking site due to ‘blog content’

LGBTQ Nation • Thursday, February 25, 2010 • Filed under: Business • Comments (0)

According to a post Wednesday by Fabulis, a new social networking site aimed at gay men, Citibank has suspended their account due to “objectionable content” on their blog.

Fabulis founder Jason Goldberg said he learned that the company’s account had been blocked only a few days after the fact, having received no notification from the bank.

In a bit of strange and disturbing news, fabulis discovered today that someone(s) at Citibank had decided arbitrarily to block fabulis’ bank account due to what was described to us on the phone as “objectionable content” on our blog. In fact, the account — it turns out — was blocked a few days ago without anyone letting us know about it by phone or email.
Huh?
Mind you, fabulis is a serious business, backed by some serious players, and for the life of us we can’t find anything “objectionable” on our blog besides some good humor, some business insights, and some touching coming out stories from some great and fabulis gay people.
So, what gives?
And wtf. When did Citibank start reviewing blogs to decide who can bank with them?

Since the story of the incident broke yesterday, Citibank has lifted the hold on the account, while a compliance officer reviews the company.

Previously from LGBTQ Nation:

CBS rejects gay-themed Super Bowl ads; GLAAD calls for explanation

LGBTQ Nation • Friday, January 29, 2010 • Filed under: Business, Television • Comments (1)

The gay dating website Mancrunch.com is crying foul on CBS for rejecting a commercial that it had hoped would run during the Super Bowl on February 7.

In a letter to ManCrunch.com, CBS Standards and Practices said it had reviewed the proposed ad, which would cost an estimated $3 million to air, and “concluded that the creative is not within the Network’s Broadcast Standards for Super Bowl Sunday.”

In the ad two sports fans are watching an NFL game and discover their mutual affection over a bowl of chips. They proceed to make out to the surprise of another sports fan watching nearby.

Watch the ad here: Continue reading…