Outrageous Outrage of the Day: GM Edition


Remember former GM CEO Fritz Henderson? The fellow who stepped up to the plate when our President fired former GM CEO Rick Waggoner? Yeah, Fritz lasted less than a year, before giving up his CEO spot to Ed Whitacre.

Well, good old Fritz Henderson is back. Apparently he’s been hired as a consultant for GM, and will be taking home quite the hefty pay check for about 20 hours of work per month. From Automobile Magazine:

Henderson, who abdicated the CEO throne on December 1, 2009, was rehired to an unnamed GM subsidiary, where he will advise on international operations. Henderson will work on a monthly basis, spending 20 hours each month consulting, and will meet with GM’s international operations management once every 30 days.

And here’s the kicker: for his advice, he’ll be paid about $2,954.50 per hour of “consulting”. As BloggingStocks said:

Now shareholders have been wiped out, taxpayers are on the hook for billions, and Henderson still needs almost $3,000 an hour to help clean up the mess.

Nice work if you can get it stomach it.



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