WASHINGTON -(Dow Jones)- The chief executives of General Motors Corp. (GM) and Ford Motor Co. (F) said Wednesday they wouldn't accept a $1 salary in exchange for government aid to their imperiled companies, as the head of the former Chrysler Corp. did a generation ago.
During a hearing Wednesday, a member of the House Financial Services Committee told Rick Wagoner of GM and Alan Mulally of Ford that reducing their annual salaries to $1 would be an important symbolic gesture as they lobby for $25 billion in loans funded by tax dollars. Chrysler's Lee Iacocca worked for that wage when his company was bailed out by the government in the 1980s.
http://money.cnn.com/news/newsfeeds/articles/djf500/200811191506DOWJONESDJONLINE000837_FORTUNE5.htm
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