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Revisiting the 2008-09 auto bailout that saved GM and Chrysler

The Federal Reserve stayed open late on December 31, 2008. There's almost no way you could remember that because barely anyone knew at the time. But General Motors had to pay its bills, and the Fed wired money so GM could still buy things in January. Without those funds, the nation's largest automaker wouldn't have seen much of 2009. It's one of many heart-stopping moments that illustrate just how close Detroit's Big Three came to extinction nearly a decade ago. They're chronicled in a new movie, Live Another Day, premiering in theaters September 16. Filmmakers Bill Burke and Didier Pietri interviewed nearly all of the key executives, federal officials, and union chiefs to recreate the auto industry's most perilous period. The movie begins in the aftermath of Lehman Brothers' demise amid the global financial meltdown. Things looked bleak for American carmakers, and their CEOs were laughed off Capitol Hill when they sought a Wall Street-style bailout. "It was a feeling that it was the end of the world," Pietri told Autoblog in an interview where he and Burke previewed the film. Saved by last-minute loans authorized by the Bush Administration after Congress refused to act, Detroit staggered into 2009 with a faint pulse. Live Another Day illustrates the downward spiral that played out that winter as President Obama and his task force – with little prior knowledge of the auto industry – wrestled over the fate of hundreds of thousands of jobs. GM's longtime CEO Rick Wagoner was fired in March. Fiat CEO Sergio Marchionne suddenly appeared as a savior for Chrysler, with his own motives. Obama rejected restructuring plans from the automakers. Chrysler declared bankruptcy on April 30. GM followed June 1. The sequence was very public, but Pietri and Burke showcase lesser-known events that shaped the outcome. They also seek to dispel the notion that the government rescued GM and Chrysler from incompetent leaders. "We never subscribed to the theories that the management structures of the companies were a bunch of idiots who didn't know what is going on," Pietri said. At one point, Chrysler executives were negotiating with Marchionne and Fiat. Unbeknownst to them, the government was having its own talks with the Italian automaker. The filmmakers also cast light on the bankruptcy process, which was shredded to shepherd two of America's industrial icons through reorganizations.

Are you Ford's next Bullitt Mustang? [w/poll]

Ford has a long history of offering special editions of its legendary Mustang. One of the most vaunted of those trim packages, though, has only been offered twice. The first time was in 2001, and then again in 2008. Yes, we're talking about the Bullitt.
Named for the infamous Dark Highland Green Mustang Fastback driven by Steve McQueen in the 1968 cop melodrama Bullitt, the car was famous for not just its pilot, but the high-speed chase it took part in during the movie. Now, we think we have images of the next Bullitt.
According to our spy photographers, the paint is a "dead-ringer" for the Dark Highland Green that has signified these special edition Mustangs. While we're inclined to agree, it's also worth pointing out that this shade looks very similar to one of the 2015's other new colors, Guard. We've yet to see one on the road (let alone in such dreary conditions), so it's tough to say for certain.

2015 Roush Mustang lineup officially revealed

Just last week, Saleen revealed initial details of its tuning program for the new Ford Mustang. And now Roush is following suit.
Available in three stages - based on the V6 (RS), EcoBoost (RS1) and V8 (RS2) models - the 2015 Roush Mustangs all feature the venerable Ford tuner's latest R7 aero kit complete with remodeled fascia, five-blade grille, gaping air dam with integrated driving lamps and splitter. Around back there's a one-piece deck spoiler and "race-inspired lower aero-valance."