Even if Target was obligated contractually, I would imagine that enough time has passed that they have fulfilled such an obligation. But knowing past city performance, they probably handed them the money without a reciprocal obligation. The Sports Commission seemed to be a little tighter than that. *********************** I see in the financial overview for 2003 (http://www.ci.minneapolis.mn.us/citywork/city-coordinator/financ e/services-budget/docs/budgetbook2003/Section3.pdf#page=1) that the 2003 figure for police and civilian review is $100.8 million, up 4 percent from $96.7. Why so many layoffs when the budget is ACTUALLY increasing? *********************** I suppose the issue has with the Broadway Target is a produc of both the costs and the revenues. People may patronize all the time but simply can't afford to buy much that has a larger markup. Then there may be things like turnover with an unstable workforce, which is costly, perhaps a greater shrinkage problem. I think it is more complicated than just willingness to patronize. For one thing, to what extent do the people in more distant neighborhoods go to Broadway. It is conceivable they look northward and go to those Targets, which may have more items they want to buy. Nice as it is to walk to a store, the walkin trade may just come for small-dollar items that their budgets can afford.
As someone said, poverty may be the biggest reason the store didn't make it. Remember we are in an economic slump. Unemployment is up, and you can't do much more than pay rent and feed yourself when you're unemployed. Here's a relevant quote from the web site Retailing Today: "Target's 1Q earnings up 1.3% | | May 15, 2003 - Target reported Thursday that first quarter earnings inched up 1.3% to $349 million, while sales increased 7.6% to $10.3 billion. For the quarter ended May 3, Target's earnings totaled $349 million, or 38 cents per share, compared with last year's $345 million, or 38 cents per share. Analysts expected on average 39 cents per share, according to Thomson First Call. Total revenues were $10.3 billion, up 7.6% from last year's $9.6 billion. Sales were driven by a 9.8% revenue increase at Target Stores, principally resulting from new store expansion and the growth in its credit card operations. Same-store sales fell 0.1%. "In light of our soft sales performance during the quarter, we are pleased with our first quarter results," stated Bob Ulrich, chairman and ceo of Target Corp. "To continue to achieve profitable market share growth in this environment, we remain focused on maintaining operational and financial discipline and delivering even greater value to our guests." It just seems to me that northside needs to do what my neighborhood did when Moline closed. Hitch up their drawers and move on. I think most of the energy invested in faulting Target Corp for this decision is energy down the drain. Target won't change much because of it. And they will still want every profitable customer they can find. ****************** "Police Inspector Stacy Altonen said that officers have tried to slow traffic on Marshall, but that it's been difficult. "It's refreshing to see that the neighborhood is handling the issue." What did I tell you? Starve public safety and the next thing you get is vigilante action. Funny they should call driving the speed limit "civil disobedience". Henry David Thoreau would smile I'm sure. ****************** Jim Mork Cooper Neighborhood Longfellow Community In The Great and Wonderful City I Call Home, Minneapolis TEMPORARY REMINDER: 1. Don't feed the troll! Ignore obvious flame-bait. 2. If you don't like what's being discussed here, don't complain - change the subject (Mpls-specific, of course.) ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
