GM's Rick Wagoner Gone, but Carmaker's Problems Remain

The stock market skidded about 250 points on the day that President Obama rejected Detroit's restructuring plans and suggested that General Motors and Chrysler may need to file for bankruptcy. While Obama spoke of an auto industry that can survive and eventually thrive by making tough decisions, investors were jarred by Obama's tough talk and tough action. Over the weekend, the president forced GM's CEO Rick Wagoner to resign. And today, Obama gave the two struggling car companies more time to...Full Story
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