Good one.
Ricketts couldn't have done it last season because he needs a guy who knows the organization and baseball well enough until Ricketts can figure out who knows what, who can do what, who can keep his head above water until he gets situated. And while getting rid of Hendry now wouldn't have any real effect until around 2014 when Fonzie's contract is done and 18 million dollars is freed up, it wouldn't be a terrible move. Hendry has proven that he can't negotiate or make normal, sane person deals and the guy who would replace him would have quite the mess to clean up.
Personally, I think we keep Hendry until the end of his contract, which I think ends next year?, and in the mean time Ricketts looks for someone who knows the Cubs and actually knows baseball. The only way Hendry could distinguish a baseball from a NTC from a donut is that a NTC cannot be eaten, and the donut tastes better than the baseball.