Target CEO pay doubles.

Fix It

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“767 times more than Target's median worker salary. The median worker at Target made $22,439 last year.”

Fun fact: in 2020, $15 at 29 hours per week you’ll get $22,620 a year before taxes while being an hour shy of health insurance with the company.

You want more per hour? You got it. They capitalized on the big $15 subject and guess who’s getting bent for it.
 

commiecorvus

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“767 times more than Target's median worker salary. The median worker at Target made $22,439 last year.”

Fun fact: in 2020, $15 at 29 hours per week you’ll get $22,620 a year before taxes while being an hour shy of health insurance with the company.

You want more per hour? You got it. They capitalized on the big $15 subject and guess who’s getting bent for it.

The US Federal Poverty Threshold in 2019 for one person is $12,060. (In Alaska and some major cities it can range from 15,060 to 16,060.)
So the median Spot employee makes about eight to ten grand over the poverty level.
Consider that the Poverty Threshold is the demarcation point for where a person stops being able to survive without help in the US.

So the guy who is making $32.73 a minute even when he isn't at work, even when he is asleep, even when he is fucking his wife, seems to me to have some explaining to do.
 
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If stock options were the dramatic increase, then why did my 401k that was tied to Target's stock lose money last year?
Check out how stock options work. They don't necessarily have any effect on stock price, or indexes that vary based on them.
 

Switch23

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They do not. They do, however, sometimes have an effect on executive decision making and timing

I have no idea what his vestment periods are on his options of course.
Guessing they aren't weekly OTM options but that's just me.

Also imagine the insider trading that could happen if someone knew when his options were set to expire. I know Cornell or other CEO's don't want their options to expire worthless so chances are the stock is going to bump around that time. Serious money could be made.
 
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Bumping this thread: Our second-largest competitor and the 11th largest US corporation by market cap, Walmart, just hired as its CEO a long-term associate, John Furner, who started with Walmart working in the Garden Center in a Bentonville store. My mind just said "Whoa!" when I realized that here's a company 8 times larger than Target which actually has hired from within for the CEO job. "Promote from within" may sound cliche in today's world but it hasn't stopped Walmart from becoming a very shrewd and gigantic competitor. Walmart U.S. CEO, John Furner took a trip down memory lane at Store 100 in Bentonville where his career began almost 27 years ago.
 
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Guessing they aren't weekly OTM options but that's just me.

Also imagine the insider trading that could happen if someone knew when his options were set to expire. I know Cornell or other CEO's don't want their options to expire worthless so chances are the stock is going to bump around that time. Serious money could be made.
Which is why that stuff is closely monitored by the SEC and other federal agencies.
 
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I know a lot of people are focused on the $17.2 million number, but if you distributed that to all the employees they'd only get an extra $47.77 for the entire year before taxes.
 
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yes, gross ceo compensation is simply a symptom of a larger problem, not something that prevents rank & file workers from getting higher hourly pay
 
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People get off the whole CEO pay thing already. You guys are looking at the wrong thing. The 5 billion they are using to secure stock buybacks while taking out debt loans is where the attention should be directed at. That is roughly $15,000 per team member there.

The primary reason why they are giving him stock options is for when he does exercise them he will be taxed at a much lower rate than if he was getting a salary. Also he is most likely getting Class A shares, like a lot of CEOs, in his portfolio that are guaranteed at a base rate regardless of how low the stock goes. Target could go bankrupt tomorrow and be a penny stock and he will get a certain amount vested regardless of formalities that the company may face. In his eyes, the stock can only go up
 

commiecorvus

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I know a lot of people are focused on the $17.2 million number, but if you distributed that to all the employees they'd only get an extra $47.77 for the entire year before taxes.
As I pointed out earlier in the thread you can take half his salary and distribute it as hours to the stores.
It would go a lot further that way and pay a lot more people.
And as @skrepo1977 pointed out a shitload of the money we don't see comes in stocks and the decisions they make in terms of buybacks instead of actually putting money into the company.
If that fuckton of money they used to do buybacks had been invested in the company for equipment and hours everyone's lives would be considerably better.
By playing at being the king, and getting paid just to fucking breath, this guy is fucking you over in every possible way.
 
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People get off the whole CEO pay thing already. You guys are looking at the wrong thing. The 5 billion they are using to secure stock buybacks while taking out debt loans is where the attention should be directed at. That is roughly $15,000 per team member there.
It’s not entirely quite that simple but yes you are right, this is pretty much it. This is significantly closer to the truth than the idea you could wipe out CEO pay entirely or half of it, redistribute it to everyone, and have it even make more than the ever so slightest difference to any given worker in the company.

But hey... fuck facts, right? Feelings are the only thing that matter in these discussions because the people up in arms about CEO pay only care about feelings. Not objective truth. Only subjective truth.
 

commiecorvus

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No, it would not. This is EXTREMELY factually incorrect.
So you are a facts over feelings guy.

I will admit some hyperbole if you will admit some facts.
Fact, the average employees wages have stagnated as CEOs have skyrocketed.
Fact, one company has managed to pay their employees well but doesn't pay their CEO an exorbitant amount (that would be Costco in case nobody didn't already know).
Fact, that CEO makes $650,000 with $200,00 bonus if he meets his goals (which is twice what his predecessor made but he was a man of serious principle).

So lets play a game I like to call fun with maths.
You can check me if you want it is possible I got some of this wrong.

The CEO of Target has more stores to run so he should get more money than the CEO of Costco, lets give him $1,000,000,
I think most folks could survive on that, don't you.
That would leave us with the extra $16,2000,000 that we aren't paying him to spend.
I had to comb through the stockholders because Spot doesn't like to put this out where anyone can find it but they spent $1,600,000,000.
His remaining salary is roughly a 1.34% raise across the board.
I got a 1.5% for the first time in 5 years (don't let people tell you state employees are paid a lot) and it has been nice, not much but nice.

So yeah, more than half to be sure but more than fair to be certain.
 
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If we took away 100% of his pay and redistributed it evenly across all store team members, it wouldn’t be enough to matter for anything other than a fleeting moment.

The idea and discussion of him being overpaid is an entirely different discussion from the idea and discussion of him taking a pay cut for the workers' benefit.
 
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To clarify, there are, according to Target's website, 350,000 Target employees.

For kicks, let's round that way ridiculously down in your favor... to 200,000... just for kicks.

Now, let's take all of Cornell's salary... 17.2 million according to this thread, and round it up to 20 million, again, in your favor of course.


Now, let's take that 20 million and divide it across 200,000 team members. That's $100 annually... or... roughly $2 per week. That's $4 per pay check, before taxes, lol. That is... so far and away from being a meaningful number to make a difference in your life that it's not funny. Additionally, it's no where near a 1.34% raise across the board for everyone. Not even remotely close.


From a moral perspective, I agree, he does not deserve that much money and it's a shame that he gets it. He certainly hasn't contributed that much or even close to it in terms of company success, but... I'm also not emotional and irrational enough to think his pay matters... it doesn't.

If you want to get into a discussion about how his pay is structured and linked to stock prices... and what arguably malicious actions he could partake in to get his pay up as a result of how his pay is structured, that's fine. We can talk about that.

But the actual number itself is absolutely and indisputably irrelevant to the stores. He could make $100,000,000 and it still woudn't matter to your average store worker, if redistributed evenly.
 
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I'd also like to add one last thing... there is nothing stopping sociopaths and psychopaths from obtaining the positions they obtain in government, large companies, etc. Nothing will ever stop them, because they on a very fundamental existential level, do not care about rules or laws or moral good. They just don't care.

Until we advance enough as a species to readily identify and medically diagnose psychopaths and sociopaths with extreme ease, this type of stuff will never stop. It just won't. You can scream at the sky and curse at the wind and do whatever else you want to do. You can organize, you can picket... you can shoot up HQ. Do whatever your heart wants. But psychopaths are going to be psychopaths... and they're going to get what they want or die trying. They are like terminators. They absolutely will not stop. I'm sorry. Life isn't fair.
 

gsa4lyfe

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I mean his pay seems to be standard for CEOs in this industry also Target one of of its best years in recent history last year so only makes sense he gets a raise. That’s just how it works
 

Tessa120

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All that extra pay that is a ridiculous amount could be used to negotiate a better benefits plan and add 20 hour workers on, plus bump the hours up at all stores. A block of money goes a long way at the negotiating table.
 
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All that extra pay that is a ridiculous amount could be used to negotiate a better benefits plan and add 20 hour workers on, plus bump the hours up at all stores. A block of money goes a long way at the negotiating table.
Absolutely false. You couldn’t even add ONE $10,000 annual worker to each of the 2000 Target stores if you took ALL of his pay.

So he makes 17.2 million... there are roughly 1871 stores.

That is $9192 per store for those of you counting. At $13 an hour that’s 707 hours per year... which is 1.9 hours per day OR... roughly 13.5 hours per week.
 
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gsa4lyfe

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All that extra pay that is a ridiculous amount could be used to negotiate a better benefits plan and add 20 hour workers on, plus bump the hours up at all stores. A block of money goes a long way at the negotiating table.
Absolutely false. You couldn’t even add ONE $10,000 annual worker to each of the 2000 Target stores if you took ALL of his pay.
10s of millions of dollars would make little to no impact of put back into the company. Modernization is a 7 BILLION dollar investment. He could get no salary and nothing would change. That amount of money is really not that much in the grand scheme of things
 
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