Fritz Henderson Consulting For Old GM Wind-Down Firm
Fritz Henderson was Mr Transition at General Motors, taking over when Wagoner was ousted by the Presidential task force, and losing the top spot when Ed Whitacre’s purges hit a fever pitch. So it’s not exactly surprising to find out that, in addition to his $3k/hr consulting gig at New GM, Henderson is also getting paid by Old GM’s wind-down firm AlixPartners. The Detroit News won’t spill the beans on compensation, let alone the nature of Henderson’s work as a consultant, but does note that AP has slurped down over $35m in fees since last year’s bankruptcy. AP’s reasons for hiring Henderson:
From time to time, AlixPartners contracts with experienced specialists to complement our existing team and to help us grow, and that’s our purpose in signing on Fritz Henderson as an independent contractor working on a part-time basis,
Fritz Henderson: because he was liquidating General Motors before it was cool. Meanwhile, is the volatility of contract consulting work really a good idea, given the Henderson family temperament?
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A smart-ish man taking advantage of the ignorant (Whitacre and Co)because he can. While I hope he never has a position of power in an automobile company ever again, I can't fault Henderson his ability to make cash off the fools at Gov't Motors...
Fritz is a prime candidate to explain why GM didn't understand how to run a long term profitable business. GM - run by accountants who are constantly at odds with the blue collar unions. Great working atmosphere.
This sounds like typical politics where a person is hired in retirement as payback for favors they delivered earlier.
Interesting picture. Guy on right is now the MOUTH over at Farmers.. But who is the loud one on the left?! Is FRITZ just pretending he knows nothing? Alright... Someone explain to me... How is it that 2 months ago, it seemed that Lutz was running the whole show from his CEO / CFO office at OPEL, along with 2 other positions at GM US! How does he go from that.. to the company being reorganized around Ruess as the main guy... and now FRITZ getting 2 sacks of cash delivered daily.. by 2 companies.. as a consultant?!