BUSINESS
12/26/2008 05:12 am ET Updated May 25, 2011

Atlantic Becomes First Major Label To See Digital Sales Surpass CDs

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.

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