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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.

2015 Roush Stage 3 Mustang has 670 hp

My last speeding ticket was nearly two years ago while behind the wheel of a 2014 Roush Stage 3 Mustang. Considering the supercharged 5.0-liter V8 produced 575 horsepower – the lowest of the Stage 3's tunes – an encounter with the friendly folks at the Michigan State Police seemed inevitable. With the 2015 Stage 3 producing 95 more horsepower, if and when I drive the new supercharged 'Stang, another meeting with Michigan's finest seems likely. The combination of the Ford 5.0-liter V8 and a 2.3-liter TVS supercharger turns out 670 horsepower, which should have owners of the weightier Dodge Challenger Hellcat at least a bit nervous. All that power is complemented by 545 pound-feet of torque and what is almost certainly an ear-shattering exhaust note from the quad-tip pipes. On top of the RS3's trademark sound and speed, Roush has fitted the sixth-generation Mustang's body with a new "R7" aero kit that actually looks toned down from last year's car. 20-inch "Quicksilver" wheels are standard, although Roush is offering a pair of optional designs. Either way, Cooper RS3 tires are the rubber of choice. Prices for the Roush Stage 3 Mustang start at $21,995, not including the $32,300 starting price of a Mustang GT donor car. Scroll down for the official press release. Related Video: ROUSH Stage 3 Mustang Produces 670 HP May 7, 2015 – PLYMOUTH, MICHIGAN – ROUSH Performance is excited to announce final horsepower ratings for the all-new 2015 ROUSH Stage 3 Mustang. The RS3 is cranking out a heart-racing 670 horsepower and 545 lb-ft of torque to deliver the ultimate driving experience. All 670 horsepower are created as a direct result of the powerful combination of Ford's 5.0L V8 engine with ROUSH Performance's dynamic new 2015 2.3L TVS supercharger. The new ROUSH Mustang's generous power ratings impeccably compliment the RS3's list of standard and optional features, including the ROUSH Quad-Tip exhaust (with optional ROUSH Active Exhaust System), standard single-adjustable coilover suspension system (or optional competition-tuned 3-way adjustable system), and the fierce new "R7" aerobody. The 2015 ROUSH Stage 3 Mustang is not just a car – it's an experience. The RS3 truly bridges the gap between road car and race car, putting drivers behind the wheel of the ultimate uninhibited muscle car.

Ford, Toyota clean up in Best Car For The Money Awards

The U.S. News Best Cars for the Money Awards picks winners by looking at the average transaction price, five-year total cost of ownership, the regard a car has from the automotive press, reliability figures from J.D. Power and Associates and safety data from the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety. The result, according to the magazine, is "the best combination of critical acclaim and long-term value."
Ford nabbed six of the 21 categories that received awards this year, the Focus, Fusion, Fusion Hybrid, Taurus, Escape and Edge getting trophies. Toyota and its Lexus and Scion sub-brands took another five, the Tacoma and Tundra owning the two categories given to pickup trucks. The other ten awards were split between Honda with three, Buick with two, and one each for Subaru, BMW, Hyundai, Chevrolet and Mazda.
Follow the link to see all the winners and read about why they were chosen.