(AP) -- WASHINGTON (AP) - General Motors CEO Fritz Henderson says pay cuts for himself and other top executives at companies that received billions of dollars in taxpayer money were "fair" and "thoughtful." Henderson is among the executives at seven companies who will see their base salaries slashed under a plan by Kenneth Feinberg, the Obama administration's "pay czar."
Henderson was meeting with lawmakers on Capitol Hill on Wednesday. He says the changes are "tough, but the situation is tough."
Feinberg said last week he had ordered the companies to slash the base salaries of their top executives by an average of 90 percent and cut their total compensation - cash, stock and perks - in half.
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