SYRACUSE, N.Y. — Gregory Young, chief executive officer of Penn Traffic Co. here, has accepted a 10% reduction in his annual salary, the company said this week. In a filing, the retailer told federal regulators that Young’s salary would be cut to $472,500 from $525,000 for the remainder of the 2010 fiscal year, which began this month. Young can make up the difference as part of his incentive plan, the company added. Read More of Today's Headlines

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