Listen all Target Shareholders. I am not one, though one of my sons was store manager in Asheville, NC some years ago and left due to how corporate "does business"...
But I write as a US small business owner and contracting firm owner in Hickory, NC metro area regarding Target (and several other major retailers) who all are/have been contracting with a Ferrandino & Sons, Inc firm for all their in-store maintenance and repairs and renovation work- and Ferrandino is NOT any sort of true Contracting firm. They are a scam outfit unethically profitting hugely, and there is going to be a major upheaval coming from Thousands of US licensed contracting type businesses against them and those whom the true contractor are/have performed various work for which these major retailers are/have been benefitting from- YET these contractors are not/have not been paid long after Ferrandino receives up to 700% markup payments from Target corp and others! And the process has been benefitting top executives at these retailers !
Any retailer who is profitting from work others performed in their stores, yet have not paid the actual contractor who performed said work, is criminal ! THESE retailers wouldn't let anyone walk out of their stores without paying. Why are these retailers NOT paying contracting firms who performed work for the benefit of their store operations?
Talk about next credit bubble, recession, etc coming... There are Thousands of US small businesses and families and employees now being affected because Target and other retailers corps are screwing them over for $Millions in work orders at these retail stores or more in unpaid work at these stores... and this Ferrandino outfit is raking in $Millions from these retailers and not paying the party to whom the work was done for said retailers.
Why do these retailers and others use 3rd party scam outfits which are causing said retailers to lose $Tens of Millions annually, and simply should work directly to local licensed contracting firms for needed repair work and not use a middle man. Without going into details further, in our businesses' case, the NC Dept. of Revenue is already investigating this Ferrandino & Sons out of New York, regarding work business practices done at the Valley Hills Mall Target in Hickory, NC...
And to Cramer's points and others, if anyone was upset seeing what the "Amazon Effect" has been to US retailers, this matter when hitting the national news airwaves will completely destroy what's left in most US retailers and prove how corrupt corporate greed has gotten today everywhere... Already many people have been forced into bankruptcy due to this situation, businesses forced to close down, all because these major retailers have NOT paid the contractors through their 3rd party facilitator they all contract with (Ferrandino).
Partial list of known retailers who use this Ferrandino & Sons, Inc out of New York are:
Target Corp.
AMC Theaters
Walgreens
CVS
Home Depot
Lowes
JC Penneys
US Banks
Others...
