Sunday, February 21, 2010

Ousted General Motors CEO Rehired At Over $2K Per HOUR


According to the AP (via Yahoo), the new CEO for General Government Motors will receive a pay package totalling $9 Million dollars. Bad enough, since GM is hardly blowing away the competition...

More upsetting to me is the fact that they have rehired former CEO Fritz Henderson as a consultant. His compensation? $50,090 a month - for 20 hours of work per month.

Do the math. That's over $600,000 per year. More disgusting is this - at his scheduled number of hours per month, Henderson's pay works out to over $2,500 PER HOUR.

This is the savvy new economic management that's going to save GM from disaster and return the billions in bailout money to the taxpayers?

Here's an idea. Hire me as a consultant and I'll save the taxpayers a load of money for no further investment. That's right, I'll do it for free and it will only take a second. I'll just give them one line of advice that would be understood and embraced in the segment of America that actually pays bills:

If someone is bad enough to fire, don't hire them back at an hourly wage that is more than some Americans bring home for a month of hard work!

Good grief.

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