From the Washington Post story on the subject:
President Barack Obama is expected to unveil a plan today to prop up General Motors and Chrysler, offering them more money if the companies agree to shrink and refocus their businesses. Wagoner’s resignation was one of the White House’s conditions for more federal aid.
“He agreed and will do that,” a senior administration official
said Sunday evening.
The administration’s plan will give GM enough government aid to restructure over the
next 60 days, while Chrysler LLC will get up to $6 billion and 30 days to complete an alliance with Italian automaker Fiat SpA.