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Support "Shareholder Choice" For Shareholder Choice

|Includes: Target Corporation (TGT)

At least that's what I'm doing in the Target proxy contest. "Shareholder Choice" is Bill Ackman's slate of directors.

Now I like Bill Ackman and his ideas, and I'm long Target stock prmarily because of him. But I'd support him even if I didn't like his ideas.

Despite its recent troubles, Target has a capable management, and generally meritorious board. But some board members have been there for over a decade, suggesting that it might be time for some "new blood."  Especially in times of trouble. 

More to the point, most directors have minuscule amounts of stock, even including stock options, and hence little "skin in the game." That's something that Ackman-controlled entities don't lack; they collectively own 3.35% of Target's stock directly, and another 4.5% indirectly through options.

Managerment wants to eliminate a board seat vacated by a retirement, further entrenching insiders. Ackman wants that seat as a platform for his views.

Ackamn wants a "universal ballot" with the names of all candidates from all parties. That is the standard format for a political ballot.

Managment wants a company controlled ballet, to force dissidents to wage an expensive proxy fight to gain representation.

American corporations need "choices, not echoes." Bill Ackman's Shareholder Choice ticket is a "ticket to ride" for shareholder choice elsewhere.

Disclosure: Long TGT stock; support for Bill Ackman