Eric's Autos: $60,000 Per Month for Fritz
France had Marie Antoinette. America has guys like former GM CEO Fritz Henderson - the poster boy for all that is wrong with the crony capitalist system this country has de-evolved into. Fired late last year as GM imploded - he's baaaaaack. As a "consultant" - and for about $60,000 per month.
That's right, chief - per month. Sixty grand. More than most working Americans earn in an entire year. For a month of "consulting."
When ordinary people lose their jobs for non-performance they're usually not invited back. But drive a company into the ground - like ol' Fritz did - and it's a damn sure bet you'll get a check. And it won't be a measly two week's severance, either.
Under the terms of this saccharine sweetheart deal, ol' Fritz will be required to work all of 20 hours per month - about half a normal work week for the rest of us.
Fritz won't have to sit in traffic every day; he won't have a boss in any meaningful sense - or even any specific responsibilities. All he'll be obligated to do is meet a few times per month with GM's international president, Tim Lee, to "discuss matters related to international operations."
The rest of the day - no, week - will be free. Plenty of time for a few rounds of golf, maybe. Or a leisurely drive around Grosse Point.
Remember: This is the guy who helped nearly kill GM - and did kill off three of GM's divisions (Pontiac, Saturn and Hummer) and along with them thousands upon thousands of people's jobs. This is the "expertise" corporate America pays $60,000 a month for. Life's good when you're a crony capitalist! Mad yet?
I'm furious. This sort of thing isn't merely obnoxious. It can't be tolerated. It will be the end of America if not stomped on - firmly, with both feet, until the evil thing is mashed beyond recognition.
Can you feel it? I can. People are going to become violent - with some justification. Here, after all, is another incompetent high-level manager who not only doesn't suffer any meaningful consequences for his poor job performance, ol' Fritz is rewarded for it. Oh, and let's not forget - he is rewarded for it at taxpayer expense.
That's right, folks. Some of the dollars you were forced to fork over to the IRS out of your annual salary (probably a lot less than Fritz's monthly retainer) will go to fund Fritz's handsome monthly retainer. Don't forget that GM is now Government Motors - a partially owned subsidiary of Uncle Sam Enterprises - funded by you and me.
This disconnect - socialism and a safety net for uber-rich incompetents, the "free market" and all its consequences for ordinary workers - is becoming a threat to the country itself. People see what's going on. It's impossible to cover it up. The modern-day equivalent of the corrupt salons of late 18th century France is now splashed all over the 'Net, in living color, for every outsourced IT worker and under-water-mortgaged suburbanite to fume over.
Cronyism and glad-handing have always existed, of course - but now it appears to be the Routine Thing. From Wall Street to Washington to Detroit, gravy train is always on schedule.
This completely undermines the unstated basis of the American economy - that merit and hard work are at least usually rewarded while incompetence and failure mean consequences, most of the time.
Not anymore - and that is a dangerous thing. When the masses come to believe the system is rigged - and they're not wrong about this - well, watch out.
The sheer effrontery of Fritz and those like him is itself a revelation. These people have neither conscience nor shame. Yet they feel entitled - and at the same time, would probably denounce "welfare queens" and begrudge them their monthly government cheese.
You just know Fritz is the sort of guy who would outsource an entire assembly plant to Mexico or China without giving a moment's thought to the thousands of workers who will lose their jobs as a result. Not because they were incompetent or unproductive, either - but because quarterly profits could be distilled a bit higher, so that a guy like Fritz could be paid $60,000 a month to do 20 hours' work.
I love America and I believe in free exchange, meritocracy, the quid pro quo of sane capitalism. But what we have ain't that. And more and more people are beginning to see it.
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www.ericpetersautos.com or EPeters952@aol.com for comments.
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