GM's CEO of 8 years, Rick Wagoner, asked to resign by President Obama, and he does just that. Obama most likely put his foot on Wagoner's post because Wagoner has been criticized for not doing enough to slash debt and cut costs, per his agreement with the government upon receiving federal financial assistance. Interestingly, Obama to announce next steps to help GM and Chrysler tomorrow. Not a good look for Wagoner...hopefully GM will benefit in the long-run!
