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Watch live as Mark Fields is officially named Ford's next CEO

We've heard rumblings of a changing of the guard at Ford, and this live stream from The Blue Oval itself is set to confirm the rumors: Alan Mulally will be succeeded by the automaker's current Chief Operating Officer, Mark Fields.
Mulally, who is 68 years old, has served at the head of Ford for eight years, and his official retirement date will be July 1st, 2014. Fields, who is 53 this year, has been with Ford for 25 years and has been groomed to take the helm from Mulally for the last several of those years.
There's an official press release that you can read, but if you're more of a visual person, you're welcome to watch the live video feed of the announcement down below.

Ford cuts production at 5 plants, has big backload of cars including Mustang

DETROIT — Ford said on Tuesday it plans to idle five North American vehicle assembly plants for a total of 10 weeks to reduce inventories of slow-selling models. The plants affected include three assembly plants in the United States and two in Mexico, the company said in a statement. The vehicle models include the Ford Fusion and Lincoln MKZ midsize sedans, the Ford Focus compact car, the Lincoln Continental and Ford Mustang, Ford Fiesta and the Ford Transit van. Ford said the Cuautitlan assembly plant that builds the Fiesta would be idled for three weeks. The Hermosillo, Mexico plant that builds the Fusion and MKZ and the Flat Rock, Michigan, factory that assembles Continentals and Mustangs will be idled for two weeks each. The Michigan Assembly plant that builds the Focus will be idled for one week, and the Kansas City assembly line that builds Transit vans will be down for two weeks. Ford did not give dates for the temporary shutdowns. The factories involved employ more than 15,000 people, according to Ford's website. The company did not say how many of those workers would face temporary layoffs. As of Sept. 1, Ford had 111 days' worth of unsold Mustangs, 87 days' supply of Fusions, and a 103 days' supply of Transit vans, according to Automotive News. Dealers had enough unsold Lincoln Continentals to last 162 days. Automakers aim for 65 to 70 days of inventory of most models. Ford and rival General Motors have wrestled most of this year to rein in high inventories of passenger cars as consumers have shifted to buying pickup trucks and sport utility vehicles. Production cuts slice into revenue, but also could help the automakers avoid deeper price cuts on vehicles they can sell. Reporting by Joe WhiteRelated Video: Image Credit: Reuters Plants/Manufacturing Ford Lincoln Convertible Coupe Minivan/Van Sedan ford transit inventory flat rock kansas city assembly plant hermosillo

2015 Ford Mustang EcoBoost Review

"It's just a V6 Mustang." That phrase, so often spoken with derision and disdain, has haunted owners of Ford's more affordable and economical pony car since roughly April of 1964. Even after Dearborn finally paid some attention to its entry-level muscle car by eliminating telltale V6 features – the company fit dual exhausts in place of the single-exit pipe in 2011, negating the budget offering's biggest visual giveaway – the car was still hard pressed to shake its reputation as a hairdresser's car and rental fleet queen. For the Mustang's 50th year in service, Ford went back to the drawing board, we think with the distinct goal of eliminating the stigma of the non-V8 Mustang. While the V6 is still being offered (your local Avis and Enterprise lots wouldn't be the same without them), it's best to think of the new, four-cylinder, turbocharged Mustang EcoBoost as the entry-level model. But will the addition of forced induction – from an engine that will see action in the upcoming, enthusiast-centric Focus RS, no less – be enough to appease those pony car fans that believe that only Mustangs with eight cylinders are worthy of the galloping stallion badge? After a week at the helm, we certainly think it is. The new Mustang's looks have been covered ad nauseam. Chances are good that you either love the fastback styling, or you think the original pony car now looks a lot like a Fusion Coupe. We'll ignore the bigger styling remarks for the 2015 Mustang, and instead, focus on what's done right with the EcoBoost model. Like the V6 before it, certain boxes are correctly ticked. Dual exhausts? Check. 18-inch alloys? Check. (Our EcoBoost Premium model even shares its wheels with the base GT). HID headlamps? Check. Up front, there's a surprisingly meaty chin spoiler while the muscular lines of the 'Stang's long hood tie in nicely with the fastback shape, which terminates in a neat rear spoiler. There's even a body-colored diffuser at the back, between the chromed exhaust tips. The bottom line is, unless you're a true Mustang aficionado, you'll be hard pressed to tell the difference between the turbocharged car and its 435-horsepower brother. Simply sitting in the redesigned cabin isn't enough to give the EcoBoost away, either. The leather-trimmed seats (standard on the Premium trim) are cozy and supportive, with plenty of bolstering to help keep both driver and passenger in place while the 'Stang exhibits its newly enhanced cornering abilities.