The Washington Independent

Friday, February 10th, 2012

Posts Tagged alan mulally

Detroit CEOs to Get $1 Per Year? Not Quite

By | 12.05.08 | 5:16 pm

The heads of Detroit’s automakers might be willing to accept $1 salaries as a condition of a federal bailout, but they won’t commit to capping their total compensation, even at $1 million.

So says Rep. Brad Sherman (D-Calif.), a liberal member of the House Financial Services Committee, which hosted the More…

Only One of ‘Big Three’ Execs Commits to Iacocca-Type Salary Cut

By | 11.19.08 | 1:15 pm

In 1979, with Chrysler at the brink of failure, Lee Iacocca famously cut his salary to $1 per year in recognition of the federal help that eventually saved the company.

Fast forward nearly 30 years, and several lawmakers have put the Iacocca challenge to the CEOs of Detroit’s Big Three, More…