Whenever companies hit hard times and have layoffs, employees like to see their CEOs falling on their own swords. John Mack, Chairman and CEO of Morgan Stanley, did just that last year. According to a Morgan Stanley SEC filing, "Mr. Mack requested that he not receive a bonus for fiscal 2007 due to the company's fourth quarter results." Without a bonus, Mack made a comparatively paltry total compensation of $1.6 million in 2007. That includes a salary of $800,000, a pension contribution of $391,844, other compensation of $399,153 and stock options of $11,461. Mack not only gave up his bonus in 2007, he also didn't get any additional stock awards. But don't feel too sorry for Mack; he pocketed more than $40 million in stock and option grants in December 2006.