Absurd Compensation Levels of CEOs
One of my favorite topics of conversation is in the news again. As you know, all of the target stores in Canada will be closing soon. Their attempt to invade Canada has failed miserably.
It is estimated that the 17,000 employees will receive a combined total of about $70 million as they lose their 17,000 jobs. It is also estimated that the CEO of target Canada will receive about $76 million as he loses his job. Look at those two $ numbers.
I do not know how much of the decision-making was within the hands of that CEO. Perhaps some of the decisions that were not very good ones were actually made in the head office in the United States and the CEO here in Canada had no choice but to follow through. In that case, I would like to know if somebody down in the States lost their job with little to no compensation. The cynic in me believes that that is not possible. They say that CEOs make a lot of their money due to bonuses. It seems to me that you get a big bonus even if you make horrible mistakes. Not so with the rest of us.
That is how I speak today.