Obama Fires GM CEO Rick Wagoner

GM CEO resigns at Obama's behest The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said. Wagoner's departure is one of the remarkable strings attached to a new aid package the administration plans to offer GM. The White House confirmed Wagoner was leaving at the government's behest after The Associated Press reported his immediate departure, without giving a reason. On Monday, President Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler. (excerpt) read more at politico.com