GM's Fritz Henderson Deserves Nobel Prize, Columnist SaysBy Michelle Krebs October 13, 2009
General Motors CEO Fritz Henderson deserves the Nobel Prize more than President Barack Obama because he has the toughest job in the world, Wall Street Journal's Evan Newmark wrote in his Mean Street column.
Henderson "has to save GM, once America's proudest company and now its national disgrace," and he doesn't have four years to prove himself nor does he have Congress or Fox News to blame if things go wrong, Newmark writes.
Henderson has accomplished a lot in his inaugural months, most notably getting through bankruptcy. "None of that was easy. But now comes the difficult Nobel-worthy stuff - putting an executive team in place, overhauling GM's culture and making cars that Americans actually want to buy," Newmark points out.
"While it's always lonely at the top, nobody should be as lonely as Henderson probably is," he writes.
Further, he adds, "President Obama can surround himself with the best and brightest minds in America. Ford's CEO can hire whomever he wants.
"But Henderson? Six months at it - and he's still waiting on hiring guidelines from the TARP pay czar. His head sales honcho, Mark LaNeve jumped ship this week. And there are ongoing rumors that CFO Ray Young may be the next to go.
".... show me another CEO that has to put up with so much outside tinkering and public pressure?" And he's still flying commercial.
So why not give a Nobel Prize to Henderson, Newmark suggests.
Photo by GM
GM CEO Fritz Henderson