AIG CEO Cuts His Pay to $1

Edward Liddy gives up his salary and bonuses, others expected to follow
By Kristina Loew,  Newser User
Posted Nov 25, 2008 12:00 PM CST
Edward Liddy took over as CEO of struggling AIG in September.   (AP Photo)
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(Newser) – As Congress continues to bail out corporate America, CEOs are canceling bonuses and cutting pay for their top executives—but no one has come close to AIG top executive Edward Liddy, reports the New York Post. The CEO, who took over the troubled insurance company in September, will take home a $1 salary next year and may not see a bonus until 2010.