creative commons - flickr.com: http://www.flickr.com/photos/gtarded/2519940879/Enlarge Photo
Martin did not explain why GM made the request, nor did he speculate on when the the request might be honored. Whether or not the action is related to Congressman Ackerman's public rebuke of the Big Three CEO's jet-setting to D.C., or GM's decision to get rid of two corporate jets soon thereafter, is unknown. But it sure smells just a little funny...
With Swiss Bank execs recently volunteering to take drastic pay cuts, it makes typical American CEOs--especially ones at the helm of struggling companies--look quite greedy when they continue to collect salaries hundreds of times more than their average worker while also using company funds to travel high on the hog. Impressively, Chrysler CEO Bob Nardelli recently announced that he would accept a salary of $1 per year if it helped his company get much-needed federal assistance. GM's Wagoner dodged the issue, but did say he'd previously cut his salary 50 percent. Ford's Mulally, however, who made $21 million last year at Ford, "said he was concerned that cutting compensation might cause the company to lose executives and be unable to attract top talent," according to Automotive News. Not exactly taking one for the team, is it?--Colin Mathews