There is an interesting juxtaposition of articles in the New York Times: this one, about how "Chicago may become the first city in the nation to require big box retailers like Wal-Mart or Home Depot to pay employees a living wage of at least $10 an hour plus $3 an hour in benefits"; and this one, about concern over Home Depot's CEO's compensation package, which was $245 million over the last 5 years.
I think that it's unjust both that our minimum wages are so low, and that people like Robert Nardelli make $50 million a year. I just don't know what to do about either. A living wage should be paid by all companies, but it should be paid by those companies voluntarily; no one should make $50 million a year, but no one should be forced not to make $50 million a year. What I'd like to point out is that situations like Home Depot's, in which the compensation committee is stocked with cronies, contribute to the fact that cities like Chicago feel they have to take steps to effectively double the federal minimum wage. If you argue that Chicago is driving away business by doing so, I'd respond that Robert Nardelli is driving away business as well, in his own way.
jackscolon will hopefully tell me how to fix both these problems.