President Barack Obama was due to unveil Monday his plan for troubled US automobile companies as he stepped up pressure on the industry by forcing General Motors head Rick Wagoner to resign.I say, let them head to bankruptcy court.
GM confirmed Wagoner's immediate resignation early Monday and said he would be replaced by Fritz Henderson, the company's current president and chief operating officer.
In a message posted by the company's website, Wagoner said that on Friday he was in Washington for a meeting with Obama administration officials, and they requested that he "step aside" as CEO.
A senior administration official confirmed the account to AFP Sunday.
Monday, March 30, 2009
Obama attempts to drive the auto industry
Hey President Obama, BACK IT UP.