Minnesota's CEOs Get Paid 305 Times More Than You Do

U.S. Bancorp
U.S. Bank CEO Richard Davis has 19 million reasons to smile.

The average working Minnesotan earns $46,000 annually. CEOs at publicly traded S&P 500 companies in the state get paid a mean $13.8 million -- or 305 times more than you do, according to the AFL-CIO's annual report on executive pay.

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US Bank CEO Richard Davis Made an Extra $8.5 Million in 2014

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US Steel's Mario Longhi Scores $7.6 million Raise, Still Wants Welfare From State

Bill Jacobus via Flickr
Because of a glut in product and lack of demand, US Steel wants cheaper land leases

US Steel President and CEO Mario Longhi's executive compensation last year eclipsed $13 million. That windfall, consisting of a $1.2 million base salary, $7.5 million in stock awards, and $4 million in "nonequity incentive plan compensation," amounted to a $7.6 million raise from 2013.

Still, despite having its most profitable year since 2008 -- it reported $275 million in fourth-quarter net profits alone -- the 144-year-old American industrial icon is asking for a sweet new batch of welfare from the state of Minnesota.

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Minnesota House Votes Down Relief for Iron Range Miners Facing Layoffs

Categories: Economy

House Republicans pass on using American-made steel for Minnesota's public works projects.

Minnesota's lifeblood mining industry isn't in good shape right now. About 1,200 Iron Range workers are facing imminent layoffs as U.S. Steel prepares to idle three taconite mines next month.

The problem: China is flooding international markets with cheaply made steel to support its own burgeoning construction bubble. To make matters worse for Minnesota steelworkers, the Chinese government is using state subsidies to sustain the level of production that its workers need to avoid losing their own jobs. As a result, no one's shelling out for American-made steel. Just last week, global steel prices dropped to an all-time low.

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Republicans, Iron Range DFLers Want to Give Mines Free Reign to Pollute

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Allina Healthcare Workers Score New Contract Guaranteeing $15 Minimum Hourly Wage

Three thousand workers, including cooks and technicians, are guaranteed a minimum $15 per hour.

The collective ire of 500 picketing workers outside Allina Health's Abbott-Northwestern Hospital in Minneapolis last month appeared to reverberate all the way to the bargaining table.

More than 3,000 employees, which include cooks, nursing assistants, and X-ray technicians at various Allina Health hospitals, have ratified a new three-year contract. Most striking about the deal is the creation of a $15-an-hour minimum wage for all workers.

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Cub Foods Workers Claim Longfellow Store Is Trying to Dump Longtime Employees

Categories: Economy, Jobs

Wikipedia original file
Is Cub Foods firing longtime workers to cut costs?

A boss at the Cub Foods location on 26th Avenue South in Minneapolis must not have been feeling the managerial love on a certain afternoon.

According to one of his workers, who was in the process of wrapping racks of bakery items, the supervisor came up to her and said, "You make too much money for an immigrant and for the little work that you do. I need to hire Mexicans. They work harder and cheaper."

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Roundy's Inc. sells all Twin Cities Rainbow locations to Supervalu, Lunds

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Minneapolis Is 3rd Best City for College Graduates. Just Not All of Them.

Categories: Economy, Jobs

nuggety247 via Pixabay
According to a Michigan St. University study, this is the best job market for college graduates in years.

Minneapolis was recently named the country's third best city for recent college grads by NerdWallet.com, which bills itself as the go-to website for those in need of moneymaking intel.

"Minneapolis is young, affordable and thriving economically, making it a solid choice for recent graduates," the website gushed. It cited the city's 3.3 percent unemployment rate and the fact that almost a quarter of its residents are in their 20s. But Farmington native Matt Rudorfer would beg to differ.

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Sioux Falls Begging People to Fill Thousands of Vacant Jobs

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How Much Money Do You Need to be Middle Class in Minneapolis?

Horacio Villalobos via Wikipedia
Nearly half of America still identifies as middle class, according to the Pew Research Center.

Despite the financial beat down that wiped out the spending power of millions of Americans, nearly half of the country still identifies itself as middle class, according to the Pew Research Center.

But what kind of money are we talking?

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Minnesota's economic recovery driven by McJobs, not middle-class jobs

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US Bank Employees Were Forced to Take Unpaid Vacations as Execs Made Millions

Logistics Monster
US Bank's Davis leadership style involves getting rich while workers take unpaid vacations.

The email from US Bank Vice Chairman of Technology and Operations Services (TOS) Jeffry von Gillern ended on a downer note.

"While this was a difficult decision to make," read the April 2014 to all bank TOS employees, "we believe short-term solutions such as this help us avoid taking more drastic measures such as implementing layoffs."

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US Bank CEO Richard Davis Made an Extra $8.5 Million in 2014

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Target CEO Brian Cornell Must Cut Back Annual Corporate Jet Travel to 175k

Jelly Vazquez via Pinterest
Target employees get marching orders and their new CEO must limit his use of corporate jets.

Incoming Target Corporation CEO Brian Cornell is a man of the people.

In a move that's certain to be taken as emphatic by the 1,700 employees who recently got pink slips, Target's new leader signed off on a deal limiting his use of the company's
four-aircraft fleet to $175,000 annually.

With an average operating cost for private jets approximated at $4,000 per hour, Cornell will be limited to just under 44 hours of contractually-capped travel.

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Target Announced Total Number of Layoffs in Staff-Wide Email This Morning

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Imation CEO Mark Lucas's Pay Nearly Doubles After Company Loses $100 Million

Imation Corp.
It's easy to smile when you get $2.3 million in bonuses for tanking your company.

Last year was unkind to Imation Corp., the Oakdale global data storage and information security company. The firm reported an operating loss of more than $100 million. Its revenue tanked by 15 percent.

But in the rarefied air of the executive wing at Minnesota's 35th largest public company, that only meant CEO Mark Lucas was worthy of a whopping raise.

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Thousands of Target Layoffs Planned After Fired CEO Gets $61 Million Golden Parachute

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