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Target was one of few department stores I actually felt okay about. They hadn't done anything particularly terrible, even what scandals I did find seemed to have nuance to them. Then they decided to wage war on minorities - sorry, "DEI", and I called them to specifically say I'd never shop there again.
I didn't bother to state "unless", but I'd be okay with returning to them if they turn out to fire the people responsible for the move.
They didn't heed the warning of Pillow Guy's demise. There many big US businesses that are going to hurt badly in the coming months and years - all thanks to their support of Trump. It's wonderful.
The only bit of the title I can fully get behind is this:
Target CEO.
Target CEO 🎯🎯
Greedy pricks like this should live in fear.
Would be nice if he lost it all
If I had $9 million dollars I would be done. That's line a six figure annual salary if you put it in the safest of safe investments.
Rich people suck
You need enough capital that you can make enough in capital gains and dividends in a 4% down year.
Most people in this country could live off of $2,500,000 if it's stashed in an index fund. $9,000,000 is more than anyone ever needs.
You can get 4% from a high yield savings account. That's insured. That's still $360,000 a year (taxed as income). You don't need to expose yourself to a lot of markets and "down years" . I mean, if the us government collapses and insured accounts are lost we all have bigger problems.
At 2.5mm you'd still be fine at 4%. Six figure salary for doing jack squat.
Of course, not everyone can budget and they might burn into their principle. But, like, don't do that. 🤷
Yields are down a bit right now, unless you're willing to go with a sketchy, not sure if FDIC insured "bank."
Currently I'm seeing rates of around 3.5%, or 3.63 APY.
Sure but inflation will eat into that over time. The point of the market approach is you can withdraw that amount in real dollars for 30 years and have the same amount over time after accounting for interest
That's a good point. I think that's why most financial advice recommends a mixed portfolio. Index funds that follow the market, but also like bonds and safer things.
If I luck into seven figures of money, I think I'd hire a professional to give advice. Or at least do a lot of research.
You can get 4% from a high yield savings account. That’s insured.
For now, but you make a solid point. It depends on one's risk threshold, but I appreciate you adding that in.
If I had $9 million dollars I'd buy nine green dresses but not real green dresses, that's cruel.
Thats why you're not rich. You have to be monomanic to keep wanting more money
Most of getting that rich is choosing the right parents.
9mil is only a abay yacht, gotta get a bigger yacht!
Cornell, who has led the Minneapolis-based retail chain since 2014, received $9.9 million in total compensation for 2024, an 87% drop from his 2020 peak of $77.5 million.
What the actual fuck? Why are humans being paid $10m A YEAR, let alone over $75m?!
I love breaking down these huge salaries into 2 week chunks because I think it brings the disparity into perspective more for people since most of us get paid 2x a month.
For $75 million that is a twice a week paycheck (I know CEOs don't get paid this way) of $3,125,000!
That's the total of 1000 employees 2 week paychecks if they all made ~ $40 an hour
$75,000,000 ÷ 26 = $2,884,614
$2.8 million every 2 weeks, not $3.125 million twice a week.
The reality is bad enough without exaggeration.
They tried to do twice a month and got their wires crossed.
What it must be like to be able to retire after your onboarding seminar.
He still “earned” 753x more than the median Target salary. Crushing, I am sure. How will he ever survive?
I'm not sure that there's any aspect about this news that's truly "uplifting".
Not even the slightest uplifting.
Stock holders and owners are probably dictating these changes. Not the CEO alone.
It was dictated when his pay package was approved by the board. Since they haven't shitcanned him they must not be too disappointed or not willing to pay for his exit package.
It's not uplifting. Almost nothing in this c is.
It's mostly "here's some bad stuff happening to someone I don't like" so it's a bunch of schadenfreude.
It's a stretch, but you could say it's uplifting that other retail CEOs can see this and learn from it
Target’s CEO pay ratio now stands at 753 to 1, with median employee pay at $27,090.
For those of you not aware of Target's recent troubles, here is an astrophysicist explaining why they suck. : https://www.youtube.com/watch?v=lPVSj9rcK-E With data!
I was not expecting to watch a nearly 1hr video but damn does she bring receipts.
Not enough. We need more pressure.
Just to put $10 million a year into better perspective: that is ~ $833,000 per month or ~$208,000 each Week! for one year
oh no. anyway.