Target Minimum Wage Employee Would Need To Work 1.7 million Hours To Earn What Target Board Is Paying Failed CEO In Severance

Target_Steinhafel Hiding behind a group called Minnesotans for a Fair Economy, Target’s top executives have been vehemently opposing  Minnesota’s recently enacted minimum wage increase.  Much too high, Target executives said.

Today the Star Tribune reported that Target CEO Gregg W. Steinhafel, after essentially being fired due to poor company performance under his leadership, is being given a severance package worth a cool $16,000,000.

Even earning Minnesota’s newly minted minimum wage — the minimum wage that Steinhafel said was too extravagant —  it would take one of Target’s minimum wage workers about 1,684,210 hours , or 210,526 full-time shifts, to earn what the failed CEO is being given as a departing gift from his  Board of Directors.

This all too familiar snapshot of corporate America shows how the U.S. has evolved to the point where we  now have  the most unequal distribution of wealth of any advanced economy in the world.

– Loveland

Note:  This post was also featured in Politics in Minnesota’s Best of the Blogs.

Will Target Put Emmer Back In Its Shopping Cart?

Talk radio pundit and former state legislator Tom Emmer is running to become the new Michele Bachmann.  He fits the part.  Remember, this is the guy who sponsored a “nullification” amendment to the Minnesota Constitution that says Minnesota won’t obey any American laws – civil rights protections, interstate commerce rules, banning of health insurance pre-existing condition limitations, etc. – unless the Minnesota Legislature agrees to do so by a two-thirds majority, a threshold that in recent times has proven to be nearly unattainable.

In other words, Mr. Emmer wants to go to Washington to set federal laws, which he wants Minnesotans to ignore.  It makes perfect sense.

If Mr. Emmer can win the GOP nomination, he will become the new Michele, since Bachmann’s district has been custom gerrymandered for GOP domination.  There won’t be a lot of suspense in that general election contest.

But one interesting question that remains is whether Minnesota-based Target Corporation will again back Emmer, and his anti-choice, anti-fair wage, anti-gay rights, anti-tax, anti-contraceptive, and pro-nullification ways.

To be fair, an  Target CEO Gregg Steinhafel vigorously defended its 2010 backing of Emmer by insisting that he was merely purchasing the anti-tax and anti-fair wage portion of Emmer, not the anti-choice, anti-gay rights, anti-contraceptive, pro-nullification portion of him.

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Is Target Still Playing Kingmaker?

About 16-months ago at Minnesota-based Target Corporation’s annual meeting in Pittsburgh, an embattled Target CEO Gregg Steinhafel stressed that Target would heretofore remain neutral on the issue of gay rights, but would continue to make political donations.   A June 9, 2011 Minneapolis St. Paul Business Journal headline characterized the balancing act Steinhafel was attempting:

CEO: Target will be neutral on marriage vote, will still give politically

Steinhafel’s neutrality pledge came on the heels of a customer backlash prompted by the corporation making a large political donation to anti-gay rights Minnesota gubernatorial candidate Tom Emmer.  Remember all the news stories, boycotts, social media rants, and flash dance protests?

At the time Steinhafel made this announcement in Pittsburgh, I wondered how Target could  possibly manage to support political candidates while keeping its neutrality pledge, since virtually all candidates take positions on gay rights issues.   After all, the world community would no longer consider Switzerland neutral if it was funding a combatant.

So, what is Target doing now?  In the 2012 election, what candidates are being funded by Target, or has Target decided to stay out of politics altogether?

My drive-by Googling can’t find the answer to this question.  After all that coverage and controversy in 2010 and 2011, could it be no business or political reporter has followed up with Target?