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Auto Chiefs May Work For a Buck a Year: Somebody Tell AIG

The chiefs of the Big Three U.S. automakers may be willing to work a whole year for all of one dollar each if Congress approves a multi-billion dollar bailout.

Ford CEO Alan Mulally says he'd do it and so will Chrysler Chief Executive Robert Nardelli. GM's Rick Wagoner is expected to go along with the pack.

Ford is even going so far as offering to sell its five corporate jets and will tell Congress it hopes to break even or make money by 2011.

Sounds interesting. Too bad that some financial institutions that have already gotten bailouts (twice) such as American International Group still don't get it. Not only has AIG been keeping with its expensive professional sports sponsorships, it hasn't cut back on partying. At one Phoenix shindig, AIG execs fetted about 150 independent financial planners at a seafood restaurant. One of their rules: don't mention AIG.

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