The board has scheduled an emergency meeting that is to happen at 8:00 am Thursday morning which is believed to be when Engler will be fired if he hasn't resigned by then.
University of Michigan Athletic Director Dave Brandon has resigned and retired Steelcase Inc. CEO Jim Hackett is in for the interim, U-M President Mark Schlissel said in an Ann Arbor news conference this afternoon.
"This is the 37th time I have spoken to you from this office" is how President Richard M. Nixon began his final television speech on August 8, 1974 -- 40 years ago.
He was, and still is, the only sitting U.S. president to resign from office.
In stunning news, Pope Benedict XVI announced Monday morning from the Vatican that he will resign his position as head of the Catholic Church, effective on February 28. This has already set off a flurry of speculation, largely because no pope has voluntarily done so since the year 1415.
The news is still coming in, but here's what we know so far: