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THURSDAY, NOVEMBER 26, 2009
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AIG CEO Cuts His Pay to $1

Edward Liddy gives up his salary and bonuses, others expected to follow

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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. 

Edward Liddy took over as CEO of struggling AIG in September.
Edward Liddy took over as CEO of struggling AIG in September.   (AP Photo)
A news ticker carries headlines about Lehman Brothers and AIG at Morgan Stanley headquarters, Thursday, Sept. 18, 2008 in New York.
A news ticker carries headlines about Lehman Brothers and AIG at Morgan Stanley headquarters, Thursday, Sept. 18, 2008 in New York.   (AP Photo/Mark Lennihan)
AIG offices are shown, Sept. 17, 2008, in New York. The US government has spent billions bailing out one of the world's largest insurers.
AIG offices are shown, Sept. 17, 2008, in New York. The US government has spent billions bailing out one of the world's largest insurers.   (AP Photo)
In this Oct. 15, 2008 file photo, New York State Attorney General Andrew Cuomo listens to a question at a news conference on Wall Street Wednesday in New York.
In this Oct. 15, 2008 file photo, New York State Attorney General Andrew Cuomo listens to a question at a news conference on Wall Street Wednesday in New York.   (AP Photo/Craig Ruttle, file)
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He's putting his money where his mouth is. If he performs, God bless him.
- Andrew Cuomo, NY Attorney General

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