Could it be that American International Group (AIG: sentiment, chart, options) has finally realized how bad the company looks in the public eye? After months of business outings to spas and resorts, not to mention the $125 million the company is spending to back Manchester United, somebody at AIG seems to have gotten a clue. Earlier today, AIG announced that Chairman and Chief Executive Edward Liddy will receive a salary of $1 for 2008 and 2009.

The company also said that there will be no 2008 annual bonuses nor salary increases through 2009 for its top 7 officers. In addition, 50 of its next-highest executives will not be receiving salary increases or bonuses through 2009. AIG said that the move was part of voluntary restrictions on executive compensation, and that it is developing a funding structure to ensure that no taxpayer funds will be used for bonuses or cash performance awards for AIG's senior partners.

However, investors are having none of this seemingly magnanimous display, as the stock has fallen more than 3% so far today. AIG is currently struggling with overhead resistance at its falling 10-day moving average. This trendline has descended into the 1.80 region -- a spot of short-term resistance for the equity.