Auto bailout demands 'tech leadership' from GM
Updated at 12:20 p.m. PDT with information from president's auto industry task force report on GM.
Following a review of the ailing U.S. automakers, the Obama administration has ousted General Motors CEO Rick Wagoner and has withheld more loans to Chrysler, according to reports.
On Monday, General Motors put out a statement that Wagoner was asked to "step aside" as CEO of GM. Chief Operating Officer Frederick "Fritz" Henderson is now CEO, and changes to GM's board of directors are expected.
The restructuring plan for GM has four elements: sustainable profit, … Read more