No shit. You talk of legacy costs, look at legacy profits as well. Or can't you see those?
The company is a step away from Chapter 7 or 11 and you talk about "legacy profits"

?
What the heck are you smoking?
Even if you cut the pay by 75% of all executives, they would still be dying and going out of business.
The companies need current profits to pay for benefits for both those working and retired without that, the company dies, like it is now. In fact, toyoyta's profits may be down, but they are paying their bills, unlike GM.
Unless GM and Ford can produce a quality car at a reasonable price that people want and are willing to choose over comparable foreign makes, the companies are going away. Unless, of course, you want to mandate people buy only GM or Ford?

??