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.