Jim Hendry extended for four years
Per the Tribune. Hendry had an option to return for 2009, but could have left the team in December if he wanted to try and find greener pastures elsewhere.
Now that Hendry's impending free agency is off the table, he has to tend to his own impending free agents. The first decision is probably to figure out whether or not to exercise Henry Blanco's $3 million option for next season. The Cubs have to decide whether or not they pick up the option after the end of the World Series. (Blanco has a $300,000 buyout, and the Cubs could still try to resign him after buying out his option.)