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Atlantic Becomes First Major Label To See Digital Sales Surpass CDs

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Under pressure from Attorney General Andrew M. Cuomo of New York, the American International Group said Tuesday that it would pay its chief executive, Edward M. Liddy, only a $1 a year and that it was freezing the salaries and eliminating bonuses for its seven other top executives.

In addition, the troubled insurance company said its next 50 highest-ranked executives would not receive salary increases through 2009.

Read the whole story at New York Times