Elon Musk: Target Should Expect Class-Action Suits from Shareholders Whose Money They've Burned Away For the Sake of Advancing the Corporate Officers' Personal Divisive Leftwing Politics

The corporate officers of a company have a fiduciary duty to the shareholders, not "the stakeholders" in all of society, and given that Target's leadership has absolutely crushed the value of the shareholders' shares, they might just sue.

Charlie Kirk @charliekirk11

BREAKING: JP Morgan just downgraded Target's stock, after its longest losing streak in 23 years citing "too many concerns rising'.

Happy Pride Month Target!!

Elon Musk @elonmusk

Won't be long before there are class-action lawsuits by shareholders against the company and board of directors for destruction of shareholder value

Tranheuser-Busch might expect a shareholder suit as well.

Bud Light has lost its place as America's number one beer. It's replaced there by Modelo, which is also a Tranheuser-Busch beer, but, if I understand this right, the US side of the concession is "controlled" by another company.

It's still a loss.

Bud Light sales suffered their worst week ever, falling 25.7% -- endangering its status as the world's No. 1 beer brand, according to the latest data provided to The Post on Tuesday.

...

The precipitous drop has narrowed the gap in sales between Bud Light and nearest rival Modelo Especial, which saw its sales surge 9.2% for the week ending May 20, according to Bump Williams Consulting and NielsonIQ data.

"While Bud Light loses week after week, Modelo Especial gains week after week and now Modelo outsells Bud Light on a national basis across all trade channels combined," Bump Williams, who runs the consulting firm, told The Post.

"If this continues Modelo will surpass Bud Light for the year," he added

Anheuser-Busch InBev owns both brands, but it does not control Modelo in the US, where it is owned by New York-based conglomerate Constellation Brands.

As mentioned earlier, supermarkets and package good stores will make decisions about how much shelf space to give to Tranheuser-Busch products based on the summer numbers, and once that shelf space is gone, it's likely to remain gone.

Bud Light needs to come up with a cogent strategy to win back customers in the next few months, a former executive warned, or its market share losses could become permanent.

...

A president of sales and distribution at Budweiser's U.S. parent Anheuser-Busch until his departure in April 2022, he told the Daily Mail that rivals like Coor's Lite and Yuengling could then remain a more prominent fixture in stores following this "reset".
"Those brands will have a better likelihood to succeed long term because they have more shelf space, they have more inventory, they have more back-stock, and they have more availability for consumers," he said.

...

Frericks warned Anheuser-Busch has only limited time left in which to come up with a plan that can draw a line under the controversy.

"It needs to make a statement about who their customers are and who they're going to serve now, and try and regain those customers now in June and July, because by August, September, it's too late," the former sales exec said.

Frericks had previously warned in late April about the risks companies take when sacrificing their apolitical stance in the marketplace to support environmental, social and governance issues that may lose them more customers than they gain.

That might be why Tranhesuer is offering rebates to give away its beer for free, or for $2.99 per case. They want to artificially boost demand just to keep the valuable shelf space in markets. Maybe it's worth it to them to spend millions and millions just to keep all those precious feet of shelf space.

Meanwhile, Nike likes Disney's woke war against the people of Florida.

Nike's top executive praised Disney CEO Bob Iger for his handling of the Mouse House's ongoing war with Florida Gov. Ron DeSantis -- just weeks after the apparel giant came under fire for its marketing partnership with transgender social media influencer Dylan Mulvaney.

"I think Bob's doing a great job at this," Nike CEO John Donahoe said of Iger on Monday.

Days before Mulvaney began promoting Bud Light to her millions of followers on TikTok and Instagram, she also posted images of her wearing Nike sports bras.

The Nike partnership also sparked boycott calls.

But Donahoe told CNBC that Nike will adhere to its track record of promoting racial and social justice causes.

When asked by CNBC if he was worried that DeSantis would come after other "woke" corporations such as Nike if the Republican governor manages to get elected president next year, Donahoe said companies should "stand up for your values."

posted by Ace at 04:20 PM

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