This whole austerity business is getting increasingly irritating now. After our MP's moved out of 5-star hotels for which they were paying from their own pocket, Mukesh Ambani has taken a huge pay cut and will be paid a measly 15 crores per annum for pocket money.
You know what's going to happen now, don't you? This will be used an excuse to cut everyone's salary with the logic of, "If the biggest boss can do it, then why not you?" So much for the recession being over.
Here's hoping that your CEO doesn't take a salary cut.
[Update] - Gurcharan Das's take. Solid reasoning, as always.