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

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…