On December 5, 2006, Jeffrey H. Smulyan advised the Board of Directors that he was reducing his base salary for the fiscal year ended February 29, 2008 from $880,000 to $1 as part of a corporate cost cutting initiative.
Lowering salary after a huge cash take out is normal behavior. The stock seems to be beaten down ready to move up. There has been some ligering selling by those who horded up 3000,5000, 10,000 shares before divident and they feel they need to lower the load cause they tied up lot of valuable cash.
You are so naieve He got $8millions in that special div. he want to look like a good guy to people like you. The company is in it's way out within one year and he is covering his track to avoid a class action suit.