RIM co-CEOs pay cut to just $1

BlackBerry maker Research in Motion will pay its two co-chief executives $1 each next year after it posted a 27 per cent drop in quarterly profit and gave a dismal outlook for the Christmas period. Jim Balsillie and Mike Lazaridis will cut their salaries as they work to fix the firm’s problems. Revenues fell six per cent and it said a line of improved BlackBerry 7 smartphones had performed badly in holiday sales, and its successor line of QNX-based BlackBerry 10 phones would only be launched in the second half of 2012.