I think he probably does field calls, takes trade offers, and calls other GMs to inquire about players that he knows he can't make offers on alone. If you listen to any of the insiders, Adams is always kicking the tires on every player rumored to be available. He has cap space to make moves, yet he never makes any. Isn't it obvious that he doesn't actually have the autonomy to make any moves on his own? It's a dysfunctional committee that can't agree on anything or can't get Terry to approve spending the extra money. In Terry's eyes, Adams is the good soldier who acts like his press secretary, diffusing the anger that would otherwise be focused on how cheap the organization has become the past five years.
Terry isn't going to fire Adams. What Adams does for Terry is almost akin to laying out on the ice to block an Iafrate slap shot with his nuts.