Fritz gets second consulting job, will help GM dispose of unwanted assets

Posted: Mar 16, 2010
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It doesn’t seem like Fritz Henderson is feeling the pain of being ousted by Chairman and new CEO Edward Whitacre. The ex-CEO of General Motors was recently rehired by the company as consultant on a month-to-month basis at a rate of $59,090 to assist the automaker with international operations.

Henderson has now earned a second consultant job for General Motors where he will be responsible for helping dispose of unwanted assets the automaker left in bankruptcy. He will be working for Southfield-based restructuring firm AlixPartners LLP.

Legal documents from AlixPartners did not indicate how long Henderson will work for or how much he’ll get paid.

“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,” AlixPartners said in a statement.

- By: Stephen Calogera

Source: Detroit News


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  • GM_dude

    Wow…so let me get this straight: Fritz “old GM” Henderson will be paid $59,090 a month ( $ 709,080 a year ) to help the “new GM” management “dispose of unwanted assets” that he and his old-boys club accumulated. He has personally responsible for the following countries: Brazil, Argentina, Paraguay, Uruguay, Latin America, Africa, Middle East, Asia Pacific, Korea, China, and Europe, etc. And now the new GM are hiring him to dispose of unwanted assets the automaker left in bankruptcy. Isn't that what the boys at Wall Street do when their investments go south ? They invite their senior management teams to retire, only to hire them back for lucrative contracts as “consultants”. The big joke is how can Obama and his Presidential Auto Industry Czar Edward Montgomery even allow such a goof as Fritz Henderson advise them on any future sale of GM properties ????!!!! Well, well, well…its nice to see that NOTHING changes at GM. And nobody ever goes to jail. The American dream remains intact.