In business news, General Motors Chair and CEO Rick Wagoner has stepped down after he was asked to resign by the Obama administration as part of the government’s demand for GM and Chrysler to restructure before receiving more federal aid. President Obama is scheduled to unveil his full plan for the auto industry today. The McClatchy Newspapers reports Obama will reject requests for almost $22 billion in new taxpayer bailout money for GM and Chrysler, saying the car makers have failed to take steps to ensure their viability. The government sought the departure of the GM chief and said the company needed to be widely restructured if it had any hope of survival. The government is expected to provide the company with sixty days’ operating capital to give it time to undertake reforms. The government will also grant Chrysler thirty days’ operating funds, but said it must merge with the Italian car maker Fiat in order to remain viable. So far, GM and Chrysler have received $17.4 billion in government rescue money, a fraction of what the government has given to help revive the banking industry.