Ackman Makes Long Term Pledge

Target

As stated here before, I have no "skin in this game". The sole reason for my interest in this is the message it hopefully sends to other corporate boards should Ackman be successful.

Hopefully there is little objection to the "corporate boards are unresponsive to shareholders" meme. That being said, a successful Ackman may spur changes at other boards if for no other reason the avoid a similar situation.

My main issue is with Target's (NYSE:TGT) changing of their governance rules in order to entrench the board. Also, their refusal to publicly debate or discuss the ideas of their largest shareholder, while at the same time using press releases to snipe at the ideas he floats is more than a bit distasteful..

Read other ValuePlays post on this here, here, and here.

Here is today's CNBC appearance.

Part 1:


Part 2:


Pershing Square Press Release May 26

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