September 13, 2014 - dtlhater
ANNUAL CULT CONVENTION IN MINNEAPOLIS
Just finished the annual cult convention in Minneapolis Tarshit puts on every year. Nice to see Taylor Swift, Jamie Foxx and Coldplay perform at this years event but couldn’t help feel how much money is wasted on propping the cult (every STL flies out, hotels, meals, drinks etc etc) while the stores cut costs at the expense of the TMs wages. Especially hard to believe the Chief Financial Officer comes out to a standing ovation despite how badly the company is performing – 14,000 in attendance and none with a clue! The message is essentially trust us with few details – ya gonna trust these bunch of clowns… Can’t wait for the next quarters results to show again just how bad this leadership team is and how fucked up Tarshit is.
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Time for some number crunching... if I were to fly to Minneapolis next week, a business/first class plane ticket would cost me between $700-2000 depending on the airline. Let's average those out to $1350 for convenience-sake. Assuming all of those in attendance flew to the cult convention, the cost using the aforementioned average would be $18,900,000.
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A 1 King or 2 Queen Room with continental breakfast at The Westin Edina Galleria would cost ~$310 after taxes and fees. Assuming every STL got a separate room, that would come out to $4,340,000; if they paired off that would drop down to $2,170,000.
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According to Priceonomics.com, the minimum it would cost to hire Coldplay and Taylor Swift is $1.75 million ($750k and $1m respectively). I couldn't find any information about Jamie Foxx, but I'm assuming he's up there with the other two, bringing the total to about $3 million.
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So at minimum, using the numbers I've gathered, which will of course vary due to many fluctuating variables, the cost to put this event on - not including food, set up and marketing - would be $24,070,000 to $26,240,000.
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And yet the CFO came out to a standing ovation? I want to punch all of those STLs in the goddamn face.
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http://priceonomics.com/how-much-does-it-cost-to-book-your-favorite-band/
http://familiesusa.org/product/federal-poverty-guidelines
Don't forget it's not the STL's fault for going. Who wouldn't want to get paid to get the fuck out of these shithole stores to just veg out and giggle inside at these dumb clowns putting on the show (I know I did!). And then get shitfaced most nights with other STLs - all of which were complaining about how fkd up Targ is and how bad it is for all those in the stores.
I can completely understand wanting to get away from the stores for a few nights, but what I don't understand is why the STLs would stroke the ego of the CFO by applauding him if they thought the company was going in the wrong direction. If they wanted to show their disapproval they should have remained silent as he came on-stage rather than complaining about it after the fact. By applauding the CFO that gives him the false impression that all is well, which will only serve to boost the confidence level of the executives thereby causing them to make more stupid decisions under the guise of well-being. My only hope is that the company collapses while the executives are all off in dreamland.
Fair comments. I stayed seated and didn't applaud for any of them (hate the fkrs) and received lots of glares for it. My airfare wasn't first class but regular seats / hotel was just over 200 per night (still high being in the downtown core - no Best Westerns used). $45 per diem for food (but if Group Director or DTL buying then drinks make it much higher).
Ah, so my numbers were a little high. I would've figured that they would only settle for the best when it came to the Store Leadership but still, the end result in probably close to $20+ million instead of $30 million, half of which is tax deductible under federal law:
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http://www.irs.gov/publications/p463/ch02.html
The idea of so much money spent on this "convention" is sickening, just sickening. Target pays for this glutony but keeps the % spent on employees so low that we no longer have Brand Attendants and it is now the LODs responsibility to change the toilet paper in the bathroom and the Receiver is the cart attendant. Fucked up company because it is run top down without any communication or insight going upwards. Yes, we can truly say Target is run backasswards.
http://www.coldplaying.com/secret-coldplay-show-target-employees-setlist-review/
It is becoming so much fun watching this company fuck up time and time again. Watching the CEO Cornhole speak about direction and priorities is laughable. Focusing on baby and kids is interesting as that's the generation that doesn't have the $$ to purchase product that's priced higher than at Walmart or anywhere else. They are the ones working at Target making fuck all until they can find something better. Taking away focus from food is a 180 degree turn on what's kept their traffic in the stores at all (look for milk and eggs to not be as competitive and fewer perishables - result: even less traffic in stores). I remember a time in the 70's when it was unthinkable that they could ever falter to the level they have. The only difference between them and Target is that it's becoming quite thinkable for Tarshit. Look forward to an era of no growth, cutting expenses (which means less hours for TMs and TLs in each store) and stores being shuttered.
My bad - The time in the 70's above meant to refer to Sears and KMart when they were juggernauts but I missed mentioning that.
Wait, so they're not going to keep focusing on P. Fresh, the main thing that the new CEO -actually has experience in-? I would say I'm surprised, but honestly that would be giving the execs too much credit. I mean seriously, are they just pulling ideas out of a hat now?
Actually I think it's a smart idea. He's no longer going up against sobeys who's supplying their food. Maybe he thinks if they start focusing more on baby and kids, sobey's will ship them non expired stuff?
PFresh just won't have as much focus on it as it has (profit margins have been taking a hit as it was used to draw traffic into the stores). Especially in Canada where we don't have PFresh (we have milk / eggs / yogurt and stuff but no fruit / vegetables / meats other than processed etc). Mind you - the prices in Canada are already higher by quite a bit that Walmart or most grocery stores. The only thing that really sold was the Archer Farms which is higher margin but was never replenished so always remains empty. It's like knowing she has a really great ass but not being able to butt-fuck her... frustrating!!
Except even for that stuff the big box grocers are admatching whatever they are having a sale on that week to drive in traffic. Maybe they need to focus on stock 1st before attempting to compete.
Old news but from
http://globalnews.ca/news/1517729/is-target-canada-approaching-its-make-or-break-moment/
Target took another big operating loss in the second quarter, bringing total losses from operations to upwards of $1.4 billion since launch. Seems they bumped it up to an even 1.4 billion. 🙂 Was nearly 1 billion a while back. Now a nice 1.4 billon
Came across this article today calling Target out on all of their mistakes:
http://www.nasdaq.com/article/is-target-corporation-one-of-the-best-companies-in-america-cm391095
Too bad none of the execs were savvy enough to avoid the iceberg.
apparently target is attempting to challenge walmart to a price war to win back customers. Though I wonder if it's a bit too late? They got the stock issues the target i dropped by today out of curiosity half sorted out lol.