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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.

Pony cars, trucks and Italian SUVs | Autoblog Podcast #552

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Associate Editor Reese Counts. We discuss the updated 2019 Chevy Camaro Turbo 1LE variant, the new 2019 GMC Sierra Denali, and the Ferrari-powered Maserati Levante GTS. We also debate whether Volkswagen should build the Atlas-based Tanoak pickup truck and what a delay means for the next-gen Ford Mustang. Finally, we answer a reader question about the state of Lexus.Autoblog Podcast #552 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2019 Chevy Camaro Turbo 1LE 2019 GMC Sierra 2019 Maserati Levante GTS Should Volkswagen build the Tanoak? Next-gen Ford Mustang delayed The past, present and future of Lexus Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Podcasts Chevrolet Ford GM GMC Lexus Maserati RAM Truck Coupe SUV Luxury Performance

Amazon is showcasing its big push into cars and transportation at CES

From making cars talk using Alexa's voice to managing data from factories full of robots, Amazon wants a big piece of the action in transportation, and next week at CES will unveil more about its strategy to achieve that goal than ever before. The Seattle retail and cloud services powerhouse plans to use the annual technology show in Las Vegas to unveil its plan to be a major player in self-driving vehicle technology, connected cars, electric vehicles and management of the torrents of data generated by automakers and drivers, company executives told Reuters. Amazon Web Services, which provides large-scale cloud computing and data management services, is central to Amazon's strategy. "We really are extending ourselves more and more out in the ecosystem from manufacturing to connected car," Jon Allen, head of professional services in Amazon Web Services' automotive practice, said in a telephone interview. "The takeaway message on this is if you go to CES this year we really are taking it as a 'One Amazon' view." Until now, Amazon has shown its transportation strategy to investors — and rivals — one piece at a time. Amazon has invested in self-driving software startup Aurora. It also has signed deals with automakers to deliver packages to vehicle trunks, help develop electric vehicle charging networks and use AWS to network their factories. The Seattle company will share the CES stage with partners such as virtual reality firm ZeroLight, electric vehicle startup Rivian, Canada's BlackBerry Ltd and video game software development company Unity Technologies. "It's our attempt to weave everything together in a single experience for our customers," Dean Phillips, AWS' automotive technical leader, told Reuters. "Customers don't distinguish AWS from Alexa from Amazon.com. It's Amazon."   Related: As GM readies Alexa convenience for vehicles, we ponder its dark side   At CES, ZeroLight and GM's Cadillac will demonstrate how they are partnering to develop an online vehicle configuration experience that will allow high-fidelity images of vehicles that consumers build online to be taken with them on visits to dealers, Phillips said. The process can open the door to dealers better meeting customer needs by knowing what users focused on when building their dream car. It has already boosted profit per vehicle at Volkswagen's Audi brand by an estimated 1,200 euros ($1,340), he said.