Target Stock 19% - CEO Parachute > $55 Million

[Star]

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If my arithmetic is correct, ousted Target CEO Gregg Steinhafel's total compensation for blowing a hole in Target's stock will be $67.6 million.


Ousted Target CEO could collect $55M-plus

Gary Strauss, USA TODAY
May 6, 2014

Gregg Steinhafel may no longer be Target's CEO, but he isn't checking out from the discount retailer without a potentially big bag of cash, stock, pension benefits and deferred pay.

<snip>

According to Target's 2013 proxy, Steinhafel could receive at least $11.7 million salary and incentive pay, pension benefits worth over $1.2 million and over $42 million in deferred compensation. Steinhafel also had $12.7 million in restricted shares that would vest.

Steinhafel, who will remain as an adviser while Target transitions to a new CEO, is a 35-year company veteran who was named CEO in 2008. Predecessor Robert Ulrich left the company in 2007 with a far bigger golden parachute, including nearly $141 million in deferred pay.


<snip>
.

 

[G.T.]

I completely agree.

If we could save the largest conglomerate of money for those in the lab curing things, their incentive remains while afterward the cures dont have to cost so much. We weaved it this way we, need to unweave it.

Fools are out there charging $250 for you to turn your head and cough - the shit is getting ridiculous.

 

[G.T.]

^that post was made in the "healthcare should be not for profit" thread but magically posted in this one.

Prolly a phone issue I guess.

 

[Skull Pilot]

.
If my arithmetic is correct, ousted Target CEO Gregg Steinhafel's total compensation for blowing a hole in Target's stock will be $67.6 million.


Ousted Target CEO could collect $55M-plus

Gary Strauss, USA TODAY
May 6, 2014

Gregg Steinhafel may no longer be Target's CEO, but he isn't checking out from the discount retailer without a potentially big bag of cash, stock, pension benefits and deferred pay.

<snip>

According to Target's 2013 proxy, Steinhafel could receive at least $11.7 million salary and incentive pay, pension benefits worth over $1.2 million and over $42 million in deferred compensation. Steinhafel also had $12.7 million in restricted shares that would vest.

Steinhafel, who will remain as an adviser while Target transitions to a new CEO, is a 35-year company veteran who was named CEO in 2008. Predecessor Robert Ulrich left the company in 2007 with a far bigger golden parachute, including nearly $141 million in deferred pay.


<snip>
.

So what?

If you don't own stock in target it didn't cost you a dime.

 

[rightwinger]

.
If my arithmetic is correct, ousted Target CEO Gregg Steinhafel's total compensation for blowing a hole in Target's stock will be $67.6 million.


Ousted Target CEO could collect $55M-plus

Gary Strauss, USA TODAY
May 6, 2014

Gregg Steinhafel may no longer be Target's CEO, but he isn't checking out from the discount retailer without a potentially big bag of cash, stock, pension benefits and deferred pay.

<snip>

According to Target's 2013 proxy, Steinhafel could receive at least $11.7 million salary and incentive pay, pension benefits worth over $1.2 million and over $42 million in deferred compensation. Steinhafel also had $12.7 million in restricted shares that would vest.

Steinhafel, who will remain as an adviser while Target transitions to a new CEO, is a 35-year company veteran who was named CEO in 2008. Predecessor Robert Ulrich left the company in 2007 with a far bigger golden parachute, including nearly $141 million in deferred pay.


<snip>
.

So what?

If you don't own stock in target it didn't cost you a dime.

It does if you are an employee who is being told they can't afford to raise your wages because profits are down

 

[DigitalDrifter]

If you shop at Target, use cash only.

 

[Lonestar_logic]

.
If my arithmetic is correct, ousted Target CEO Gregg Steinhafel's total compensation for blowing a hole in Target's stock will be $67.6 million.


Ousted Target CEO could collect $55M-plus

Gary Strauss, USA TODAY
May 6, 2014

Gregg Steinhafel may no longer be Target's CEO, but he isn't checking out from the discount retailer without a potentially big bag of cash, stock, pension benefits and deferred pay.

<snip>

According to Target's 2013 proxy, Steinhafel could receive at least $11.7 million salary and incentive pay, pension benefits worth over $1.2 million and over $42 million in deferred compensation. Steinhafel also had $12.7 million in restricted shares that would vest.

Steinhafel, who will remain as an adviser while Target transitions to a new CEO, is a 35-year company veteran who was named CEO in 2008. Predecessor Robert Ulrich left the company in 2007 with a far bigger golden parachute, including nearly $141 million in deferred pay.


<snip>
.

So what?

If you don't own stock in target it didn't cost you a dime.

It does if you are an employee who is being told they can't afford to raise your wages because profits are down

When you hire on with a company you negotiate your contract, this happened to be part of his contract. Why do you hate rich people?

 

[CrusaderFrank]

You'd need 20 Gregg Steinhafel to pay for the ObamaCare website, the planets only website that can't tell you when someone bought your product. 20 of them!

And that's our money, not Target money either

 

[rightwinger]

So what?

If you don't own stock in target it didn't cost you a dime.

It does if you are an employee who is being told they can't afford to raise your wages because profits are down

When you hire on with a company you negotiate your contract, this happened to be part of his contract. Why do you hate rich people?

Actually I respect rich people. I just don't support continuing policies that only serve to make them richer

I also don't support corporate executives who demand that their employees bite the bullet, accept lower wages and benefits and then demand they work harder ...all while lining their pockets with corporate profits

Lead by example

 

[Skull Pilot]

.
If my arithmetic is correct, ousted Target CEO Gregg Steinhafel's total compensation for blowing a hole in Target's stock will be $67.6 million.


Ousted Target CEO could collect $55M-plus

Gary Strauss, USA TODAY
May 6, 2014

Gregg Steinhafel may no longer be Target's CEO, but he isn't checking out from the discount retailer without a potentially big bag of cash, stock, pension benefits and deferred pay.

<snip>

According to Target's 2013 proxy, Steinhafel could receive at least $11.7 million salary and incentive pay, pension benefits worth over $1.2 million and over $42 million in deferred compensation. Steinhafel also had $12.7 million in restricted shares that would vest.

Steinhafel, who will remain as an adviser while Target transitions to a new CEO, is a 35-year company veteran who was named CEO in 2008. Predecessor Robert Ulrich left the company in 2007 with a far bigger golden parachute, including nearly $141 million in deferred pay.


<snip>
.

So what?

If you don't own stock in target it didn't cost you a dime.

It does if you are an employee who is being told they can't afford to raise your wages because profits are down

Then find another job that pays better.

 

[Lonestar_logic]

It does if you are an employee who is being told they can't afford to raise your wages because profits are down

When you hire on with a company you negotiate your contract, this happened to be part of his contract. Why do you hate rich people?

Actually I respect rich people. I just don't support continuing policies that only serve to make them richer

I also don't support corporate executives who demand that their employees bite the bullet, accept lower wages and benefits and then demand they work harder ...all while lining their pockets with corporate profits

Lead by example

It's company policy. You don't like it, buy the company and change the policy but until then stop whining about what other people make.

I would add your "I also don't support corporate executives who demand that their employees bite the bullet, accept lower wages and benefits and then demand they work harder ...all while lining their pockets with corporate profits" diatribe is bullshit. Employers negotiate their contract when they are hired, if they feel the wages and/or benefits are not substantial enough they can go find employment somewhere else. You must think that these people are all morons like yourself.

 

[Stephanie]

and you can bet all their elected Democrats all have stock in target, Walmart, etc

why are these people so clueless?

 

[blastoff]

The article stated Target execs don't have employment contracts, but anyone accepting such upper management positions there would certainly be aware of the company's past severance policies.

If you don't like what's going on take it up with their Board, not the former employees.

 

[rightwinger]

When you hire on with a company you negotiate your contract, this happened to be part of his contract. Why do you hate rich people?

Actually I respect rich people. I just don't support continuing policies that only serve to make them richer

I also don't support corporate executives who demand that their employees bite the bullet, accept lower wages and benefits and then demand they work harder ...all while lining their pockets with corporate profits

Lead by example

It's company policy. You don't like it, buy the company and change the policy but until then stop whining about what other people make.

I would add your "I also don't support corporate executives who demand that their employees bite the bullet, accept lower wages and benefits and then demand they work harder ...all while lining their pockets with corporate profits" diatribe is bullshit. Employers negotiate their contract when they are hired, if they feel the wages and/or benefits are not substantial enough they can go find employment somewhere else. You must think that these people are all morons like yourself.

Sorry

As an American, I can comment on any policy, corporate or government that I disagree with

Just because they "negotiated a contract" does not protect them from criticism. In this case that criticism is warranted

 

[rightwinger]

So what?

If you don't own stock in target it didn't cost you a dime.

It does if you are an employee who is being told they can't afford to raise your wages because profits are down

Then find another job that pays better.

Same can be said about overpaid executives

 

[Defiant1]

.
If my arithmetic is correct, ousted Target CEO Gregg Steinhafel's total compensation for blowing a hole in Target's stock will be $67.6 million.


Ousted Target CEO could collect $55M-plus

Gary Strauss, USA TODAY
May 6, 2014

Gregg Steinhafel may no longer be Target's CEO, but he isn't checking out from the discount retailer without a potentially big bag of cash, stock, pension benefits and deferred pay.

<snip>

According to Target's 2013 proxy, Steinhafel could receive at least $11.7 million salary and incentive pay, pension benefits worth over $1.2 million and over $42 million in deferred compensation. Steinhafel also had $12.7 million in restricted shares that would vest.

Steinhafel, who will remain as an adviser while Target transitions to a new CEO, is a 35-year company veteran who was named CEO in 2008. Predecessor Robert Ulrich left the company in 2007 with a far bigger golden parachute, including nearly $141 million in deferred pay.


<snip>
.

So what?

If you don't own stock in target it didn't cost you a dime.

It does if you are an employee who is being told they can't afford to raise your wages because profits are down

How is it costing them? They aren't lowering wages, are they?

 

[Lonestar_logic]

Actually I respect rich people. I just don't support continuing policies that only serve to make them richer

I also don't support corporate executives who demand that their employees bite the bullet, accept lower wages and benefits and then demand they work harder ...all while lining their pockets with corporate profits

Lead by example

It's company policy. You don't like it, buy the company and change the policy but until then stop whining about what other people make.

I would add your "I also don't support corporate executives who demand that their employees bite the bullet, accept lower wages and benefits and then demand they work harder ...all while lining their pockets with corporate profits" diatribe is bullshit. Employers negotiate their contract when they are hired, if they feel the wages and/or benefits are not substantial enough they can go find employment somewhere else. You must think that these people are all morons like yourself.

Sorry

As an American, I can comment on any policy, corporate or government that I disagree with

Just because they "negotiated a contract" does not protect them from criticism. In this case that criticism is warranted

It may be warranted by those it affects. You just want to bitch and moan about it.

 

[rightwinger]

It's company policy. You don't like it, buy the company and change the policy but until then stop whining about what other people make.

I would add your "I also don't support corporate executives who demand that their employees bite the bullet, accept lower wages and benefits and then demand they work harder ...all while lining their pockets with corporate profits" diatribe is bullshit. Employers negotiate their contract when they are hired, if they feel the wages and/or benefits are not substantial enough they can go find employment somewhere else. You must think that these people are all morons like yourself.

Sorry

As an American, I can comment on any policy, corporate or government that I disagree with

Just because they "negotiated a contract" does not protect them from criticism. In this case that criticism is warranted

It may be warranted by those it affects. You just want to bitch and moan about it.

Your childlike "It is none of your business, so STFU" is laughable

 

[rightwinger]

So what?

If you don't own stock in target it didn't cost you a dime.

It does if you are an employee who is being told they can't afford to raise your wages because profits are down

How is it costing them? They aren't lowering wages, are they?

Employees around the country are being told times are tough, work harder, accept lower pay and benefits.....all while millions in compensation is thrown at executives

 

[SteadyMercury]

Employees around the country are being told times are tough, work harder, accept lower pay and benefits.....all while millions in compensation is thrown at executives

Is median compensation actually going down?