June 27, 2014 - TGTDude
21% Dividend Increase!
I am so pissed off that Target took away my health insurance. I’ve worked here seven years and always liked it well enough, until they pulled this bull crap. I will be leaving before Christmas. Anyways, to my point:
Target just increased its annual dividend payout to shareholders by $0.34/share, a 21% increase. With a 600 million share float, that amounts to better than $200 million/year in additional annual dividend payments.
Follow me here…
When Target stripped me of my insurance, they informed me in an insulting letter that only 10% of eligible employees were using the insurance (not sure how that was a relevant stat). According to Yahoo Finance, Target employees 366.000. Ten% would be 36.600 who were on the medical insurance (actually less, since we’re only talking about people on the part time insurance. but I don’t have that figure).
Now, if you divide the amount of the dividend increase by the number of employees who lost insurance (again, I’m going with an employee count that is certainly much too high) you arrive at a figure of $464 Per Employee Per Month (Minimum!), an amount with would go far to covering the costs for the insurance that Target claimed was too expensive.
Bottom line folks, Target screwed us. Yes, the so-called Affordable Care Act made health insurance a whole lot more expensive, and I don’t doubt that Target felt a pinch, but they clearly have enough money to have let us keep our insurance. Why could not they have said that if you have company insurance you can keep it, but discontinue it for new hires? Then over time, as employees quit, those insurance costs would have dissipated for the company.
Finally, I understand that businesses pay dividends to shareholders, and often increase them annually. That is not my issue. My issue is by HOW MUCH Target increased the dividend in the wake of stripping me of my insurance. It is normal for a thriving company to increase its Divy by 10-15%, for a healthy company to increase it by 7-10% and for a struggling company to keep it unchanged or raise it 3-4% at best.
For Target to raise the dividend by a whopping 21% is an insult to every worker in this company. I am PISSED! I am leaving. Done.
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Don't be a fucking moron. The Affordable Care Act didn't get Target to take your insurance. Target's greed, and ability to not give a flying fuck about you is what got your insurance taken away. At least with the ACA you have an option. Enough politics, fuck target.
The best part is that because Medicaid was not successfully expanded in all states, many employees are possibly paying even more for health insurance.
But I agree, less politics, more ire for Target.
Yeah. But it wasn't that there was some kind of limitation to the law, it was the red state governors blocking the expansion and refusing the federal money.
...and fuck target.
Hear, hear! *clinks his drink against monitor*
Booze. Now that's a good idea! 🙂
YES, IT HAS nothing TO DO WITH Obama's new health care, NOTHING, and everything to do with pure tarshit GREED!!!!! Its beyond disgusting the level these imps sink to
Excuse me, but the so-called ACA has quite a bit to do with the health insurance situation, which in no way excuses Target for how they handled this. Ultimately, I blame TGT for taking my insurance from me, whilst they expect me to continue to do the same work, and more. I will never forgive them for this.
Here's something else to consider: did they give you a raise when they took away your healthcare? Considering that benefits are part of your compensation package, taking them away means taking away compensation. Are you getting a pay increase?
Of course he isn't.
I know, I was just further pointing out the greed his employer is exhibiting.
more like target wants you to pay for your own msrp plan and let them off the hook for it. I wouldn't blame obama. Take a closer look at the states health care system. And the privatization of it. And the many many parts of it. He tried to copy the canadian's version of medicare and give affordable healthcare to min wage workers. Unfortunately he ran into obstacles preventing him from doing so. No regulation of fees charged to patients. Prescription meds are though the roof resulting in people coming up to canada, paying to see a doctor and then paying at a pharmacy for the same meds. Heck even the most expensive pharmacy is cheaper than the states. It's a good start medicare. But there is room for improvement and room for less greedy perps
hmm increase. They should have decreased it to cover the cost of the breach and losing nearly 1 billion in canada. Guess they feel like losing even more money and taking it out on their staff