Today’s category title (Is It Just Me?) is an excellent bridge from the business world I once thought I understood to the chaotic madness which produces what could easily be mistaken as fantasy headlines almost daily.
Consider the following facts and see if they make sense to you considering today’s economic challenges.
- General Motors CEO Fritz Henderson, who led the company for a brief period shortly before and after it declared bankruptcy last year, “resigned (or was forced to, depending on what story you believe) from GM on December 1.” Don’t forget, post-bankruptcy, taxpayers own more than 60% of GM causing many to rename the automaker “Government Motors.”
- General Motors has now re-hired Henderson as a consultant to advise on its international operations.
- The Associated Press reveals that Henderson will provide about 20 hours of consulting work each month and participate in ONE meeting per month with the president of GM’s international operations OR his designated representative.
- Henderson will be paid $59,090 per month, plus expenses!
- That’s equivalent to $709,000 per year salary or about $3,000 per hour!
- Not bad for government work. Especially for a man who this company recently fired.
Immediately upon reading this press release, I sent a telegram to the GM Board Chairman offering my services as a consultant. I suggested they hire me, fire me and rehire me at just one-half of what they’re paying Henderson. I thought that was a terrific offer as it would provide GM with a 50% savings and almost double my current salary … an obvious win-win situation and how could I do any worse as they continue to lose money and market share?
I have yet to hear back from them.