MAC!!!!!!!!

[Tim Koepp]

NEW YORK (Fortune) -- After resigning as president and CEO of General Motors in December, Fritz Henderson might have gone into hiding or decided to sit out the harsh Michigan winter on a Florida beach.



Instead, here he is popping up again, this time as a consultant to GM on international operations at the very fancy fee of $59,090 a month for 20 hours of work a month. That works out to almost $3,000 an hour for a CEO who was ousted after just eight months on the job.





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That just plain sucks.....

 

[Bill McElroy]

LOL...yeah,...well...a LOT of people around here are wondering about that!! What's not known is will he be on an "on-call" or "stand-by" basis and only paid for his services when he's here working. His "contract" could be written in such a fashion that that salary is IF he worked XX number of hours for the month. They may only need him for an hour a week...with a maximum of 20 hrs/month!!



We are CRUSHING right now...GM has a ton of cash!! Wait'll you hear what's coming!!....and keep in mind...he is an OUTSTANDING finance wizard...he was just to slow to act for the board's liking. He may be able to help a LOT in a few investment and tax areas...the new Chariman Ed Whitacre is a freakin dynamo...don't let that southern texas drawl fool ya. If he thinks Fritz is worth $60K/month...he'll probably make or save GM 10 times that amount!!

 

[Tim Koepp]

I may be in the market for something soon..keep me up to date.

 

[Texas Transplant]

Here's another take on this. If he is completely an 'ex employee' with no Consultant ties back to GM, GM's policies will be such that they are not allowed to talk with him at all on business related items. Also, I'm fairly certain that he had to execute a 'information security' agreement upon his leaving.



With him on 'retainer' for Consulting Services, it gives GM the ability to be able to call him up (or have him come in) to go over documents/information that would otherwise violate confidentially agreements.



It's a common item amongst many businesses, to ensure that they can obtain information and details that top management would only know about - that they didn't think of during 'turnover'.



Tex