Target Corporation- Product Safety

• Company: Target
• Subject: Product Safety
• Year: 2008
• Sector: Company Policy
• Lead Filer: New York City Pension Funds
• Co-Filer: Donald A. Kirshbaum, State of Connecticut Treasurer's Office
• Outcome: Withdrawn; company providing requested information

Whereas:

WHEREAS, recent reports of toxic and hazardous products imported into the US from overseas, including toothpaste, toys, tires, pet food, and other products, have led to increased concern among consumers, regulators, and law-makers about the safety of many products sold by US retailers, and

WHEREAS, Target Corporation annually markets millions of dollars worth of imported products at its over 1,500 stores in the US, and

WHEREAS, since 2005, there have been thirfy-eights recalls of potentially hazardous Target retailed products, including toys, baby rattles, school supplies, children's games, and electrical appliances,

Resolved:

That shareholders request that the Board pubtish a report on th.e company's policies on product safety, at reasonable cost and omitting proprietary information, by December 31, 2008. The report should summarize attempts by the company to secure its supply chain of goods marketed, which, if any, product lines and categories sold in Target stores may be affected by the new product safety concerns described above, and the options for new initiatives or actions management may take to respond to this public policy challenge, beyond those initiatives or actions already required by law.

Supporting Statement:

We believe that by publishing the requested evaluation of company policies and practices relating to product safety, the Company can help promote public trust, minimize legal liability, protect brand reputation, and safeguard and grow its market share. We urge you to vote your shares FOR this resolution.