Buddy, can you spare me a dime? Probably not, if that donation represents a tenth of your annual salary. But one dollar a year is precisely the amount of basic pay that Bob Nardelli, the new chief executive of Chrysler, has signed up for.

There is a catch. While the terms of his contract remain confidential - he will be employed by the private equity firm, Cerberus Capital Management, to do the job - we can rest assured that the new boss will be more than adequately rewarded should the struggling car giant improve its performance.