Oracle CEO Larry Ellison has decided decrease his annual salary to $1 for the year 2010, according to Oracle’s filing with the Securities and Exchange Commission. The move will shave exactly $999,999 off of Ellison’s income compared to this year, but fortunately for Ellison, the world’s fourth-wealthiest man, his base salary only accounts for about 1.2 percent of his total earnings.
Other massively wealthy executives have paved the way in the field of $1 base salary reductions, such as Apple CEO Steve Jobs and Google founders Larry Page and Sergey Brin. According to Oracle’s filing with the SEC, Ellison’s company wants …read more

Software companies have been sweating it out throughout the recession, experiencing sweeping drops in earnings at almost every level. Red Hat, which is the world’s largest Linux software provider, has finally shown that a software company can be profitable right now, posting a 7 percent increase in profit this last quarter.
Experts outside and within the company credit Red Hat CEO James Whitehurst for maintaining the company’s profitability. The former Delta Air Lines executive rigorously cut costs across the board, a skill he says he acquired in his days working in the airline industry. His strategic slashing of expenses has allowed …read more