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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.

Ford evaluating new Fiesta RS?

Word coming in from across the pond has it that Ford is working on developing the business case to create a new Fiesta RS. The development is encouraged by the extremely positive reception the existing Fiesta ST has garnered to date, and the emergence of the above-pictured Fiesta RS WRC rally car, but it'll take more than goodwill to make a more extreme version a reality.
According to Auto Express, a new roadgoing Fiesta RS would almost certainly be based closely on the ST version, albeit with some vital differences. Its 1.6-liter turbo four would be increased from 180 horsepower to somewhere around 230 hp, and that powertrain would be accompanied by lightweight alloys inside blistered wheel arches, a stripped-out interior and possibly lightweight bodywork.
The vehicle's approval would reportedly require a strong business case in Europe, and not just in the UK where Ford hot hatches traditionally enjoy a strong following. It's unclear whether the Fiesta RS would potentially make the transatlantic voyage to American showrooms, but between it and the larger Focus RS, hopefully the Blue Oval wouldn't leave its home market out of the action altogether.

Translogic 174: Ford envisions the future of parking

Translogic visits Georgia Tech for a glimpse at the future of parking. First, we demo the Ford remote parking program by driving a golf cart around campus from the comfort of an off-site lab; think of remote parking as a virtual valet. Then we see how Ford's "parking spotter" works, a crowd-sourced way of finding an open space. Along the way, Translogic host Jonathon Buckley chats with Ford's global director of vehicle electrification and infrastructure, who explains how these innovative parking concepts could help us get around more efficiently. Have an RSS feed? Click here to add Translogic. Follow Translogic on Twitter and Facebook. Click here to learn more about our host, Jonathon Buckley. VIDEO TRANSCRIPT Jonathon: You turn the wheel and the cart turns the wheel because we've got to remember that the carts 150 meters down that way. I should use yards because I'm not in Australia any more. Welcome to Translogic. I'm Jonathon Buckley. Every year in this country we spend over 70 million hours looking for parking. We think that's a pretty miserable way to spend that time but Ford Motor Company and Georgia Tech have taken this problem head on by developing a parking spotter experiment and some pretty cool remote driving functions to go with it. When it comes to remote vehicle repositioning, you guys have been so far using golf carts?Mike: That's right.Jonathon: What's the goal with this type of technology?Mike: As you probably know, car sharing is becoming one of the emerging trends in mobility. With that, any type of sharing program that we looked at around the world, one of the common challenges it has is that during the end of the day, or the nighttime hours, there's something that has to happen to get all the assets back to where they need to be for the next day. Cell phone technology and broadband technologies have advanced so far that we can remotely control a vehicle from anywhere it the world. For example, we could actually take this and create a virtual valet. You and your significant other pull up to, say, a restaurant. You could potentially get out of the vehicle and then the call center could take your vehicle and park it for you. You wouldn't need to do anything [00:02:00] else other than arrive at the restaurant.Jonathon: The whole thing's pretty intuitive. It works exactly as you imagine a golf cart would work. The only difference that there really is is there's just a little bit of latency that you have to account for.