From Breakingviews - Target and Disney trip up on the Pride divide
with Florida governor Ron DeSantis over the Sunshine State’s law restricting the teaching of topics related to gender identity and sexual orientation. Some of Disney’s employees were upset by the regulation and Iger took a stand on their behalf. The fight has threatened the Magic Kingdom’s special tax rules and certain government-like rights it enjoyed over a district in which its theme park sits.
Cornell is in the tricker spot, because the stakeholders he is trying to appease are customers. Moreover, his customers are divided, meaning he must balance the threat of escalating violence from one group over the potential for boycotts, or just defection to rival supermarkets, from the other. Target has singled out one brand at the center of the controversy, hoping it will placate the former group without alienating the latter.
The trouble is that investors are also weighing in. Iger has gotten questions related to Florida during Disney’s annual meeting and quarterly earnings call. The theme parks and Walt Disney World located in Orlando are an important, lucrative business. Target’s shares are down more than 10% since it said it was pulling some merchandise. Shareholders mostly want to avoid chaos, and for progressive CEOs in other companies too, that is likely to lead to some difficult compromises.
The items removed were from the brand Abprallen, a UK designer. Fox News and other conservative outlets along with Republican politicians such as Representative Marjorie Taylor Greene falsely claimed the products used satanic imagery and were marketed by Target to children.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
“This Pride event is needed”: High Plains Library District quiet on cancellation of Greeley Pride event“I can’t begin to tell you how much this Pride event is needed in Greeley.' The High Plains Library District in late April canceled its annual Greeley Popup Pride Celebration after months of planning the event, which was scheduled to occur in June.
Read more »
Pride flag burned at elementary school after concerns raised over its Pride event for childrenA rainbow Pride flag was burned at a California elementary school set to host an LGBT Pride event Friday, according to the Los Angeles Police Department.
Read more »
Pride Month pushback: Conservatives target corporations over woke merchIt’s not even June, and yet corporate America is already reeling from an unprecedented backlash over the annual Pride Month celebration.
Read more »
Donald Trump's Pride merchandise resurfaces amid Target, Bud Light backlashThose calling for a boycott of brands supportive of the LGBTQ+ community have been accused of hypocrisy over the former president's rainbow MAGA merch.
Read more »
Experts warn against canceling Pride campaigns after extremists threaten TargetRemoving Pride merchandise could be seen as a success by anti-LGBTQ extremists and violent protesters which could lead to copycat behavior, experts warn.
Read more »
Seattle Men’s Chorus partners with Disney for Pride concert at the ParamountFor the first time, Disney will be partnering up with the Seattle Men’s Chorus to bring Disney PRIDE in Concert to the historic Paramount Theatre.
Read more »