Quote:
Originally Posted by LionInMI
Hi, sorry, just want to add a correction, the Chrysler CEO is the one who first said in the hearings that he would cut his salary to $1 -- in fact, he kind of jumped at the idea, he made no mystery of the fact that Chrysler is in the most perilous position of the Big 3 currently. But he is also the guy that just came to Chrysler from Home Depot, where he left with a $200 million pay-out. The GM CEO said he'd consider going down to $1, Alan Mulally at Ford initially said he recognized that it would be a symbolic gesture (but didn't say at the time he'd be willing to do it). Included in Ford's plan submitted today was Mulally's pledge to drop his salary to $1 IF Ford accesses the $9 billion line of credit it's requesting. So he will obviously be motivated to NOT access the line of credit if he wants to keep his salary.
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I have tried and failed to find the exact testimony that the CEO's gave on their first trip to capitol hill, but I do know that 2 of the auto execs were not on board with the $1 salary. I just happened to watch this portion of their testimony and was so disgusted by the reply that I turned it off. Yes, the last exec. did say that he was quite comfortable where he was at salary wise. The exec. in the middle said he was fine where he was at but he might consider the $1 salary, only the first exec. to speak volunteered the $1 salary. I wish I knew who was who but it didn't say and this happened to be the only part of the testimony that I actually watched. I'm still searching for it online, if I find I will post it.