What did the CEO of GM do when GM wasnt doing so well? www.vanityfair.com/online/daily/2008/12/gm-ceo-to-take-1ayear-salary.html GM CEO $1 salary - LINK "General Motors corporation chairman and C.E.O. Rick Wagoner is cutting his annual salary from $2.2 million to one measly dollar" IT is for sure not out of the question to take a pay cut.