The sale of the Cubs is still up in the air, delayed due to the economic crisis and Joe the Plumber trying to figure out what net income means. That isn't stopping the Cubs from doing business though. They already extended Piniella before the playoffs started and it looks like Jim Hendry might get three more years or at least three more years worth of paychecks from the Chicago Cubs.

Kenney has previously said only that he would put his recommendation of
a Hendry extension "on a tee'' for new ownership. But sources indicate
that position has changed, possibly because the worldwide financial
crisis may have devalued the franchise while making it highly unlikely
the team will be under new ownership before the start of the 2009
season.

One source indicated that a three-year extension is being discussed and could be completed soon.

Nothing is official yet, but the link above goes on to say the Mariners, the only team searching for a GM this offseason, asked the Cubs for permission to speak to Hendry about their vacancy and were turned down. Hendry had a an option he could exercise for 2009, but was a little weary of being a lame-duck GM with the pending ownership change. 

The Cubs being in a state of prosperity on the field and I'm sure on the accounting books, probably couldn't be happier with Hendry right now, thus the extension. 

I know Hendry has his enemies around here, I mean 2005 and 2006 were bloody awful, but I'm all for the extension. He didn't hit every ball out of the park the last two years, but
under his watch and with the people that he's surrounded himself with, he's responsible for the  best Cubs team most of us have ever seen
and the best team in the NL in 2008...at least on paper. And while that seems like a hollow achievement, it's actually the one every GM should strive to accomplish - to put together the best team out there year after year and make the playoffs. As the playoffs taught us all this year, anyone can win or lose a 5-game series, no matter the tremendous difference in talent, so just get there and hope the cards flip the right way for you. The Cubs are now in that position and a large part of that is due to who Jim Hendry has traded for, signed, listened to and hired.