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dollar-a-year Even amid the signs of hope, we had a rich flow of new messes. For example, AIG turned a profit in the second quarter, another promising sign of stability. But after CEO Ed Liddy stepped down from his dollar-a-year job, the press soon reported that his replacement, former MetLife CEO Robert Benmosche, was spending much of his first month on vacation at his viveyard in Croatia. What does "dollar-a-year" mean? Thanks for your help.
Jul 24, 2014 3:28 AM
Answers · 5
His salary was seriously literally just $1. He was there as an interim crisis measure. He received an additional $460,000 for housing, transport, legal fees etc.
July 24, 2014
It means a got a dollar a year in that job. It's an exaggeration and shouldn't be taken literally.
July 24, 2014
In United State law, a legal contract has to involve an exchange of value. A volunteer might be happy to work without pay, Sometimes lawyers insist on drawing up a contract that calls for the payment of one dollar a year. It "makes it legal." In "Surely You're Joking, Mr. Feynman," there is a funny story. Feynman had to sign over his patents to the government. In order to be legal, the paper he signed said "For the sum of one dollar, I hereby give..." So after he signed, Feynman said "Where's my dollar?" Nobody had ever actually asked for the dollar. They had never made any arrangements to actually pay the dollar. Feynman insisted. "I signed for the dollar, I want my dollar!" The poor officer finally paid Feynman the dollar out of his own pocket.
July 24, 2014
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