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2015 Saleen 302 Black Label Mustang unveiled with 730 horsepower

The last time Saleen made these pages it was to report that the firm was out of money. However, just before that announcement, the tuning specialist told us about the three Saleen 302 Mustangs it was developing at three levels - White Label, Yellow Label and Black Label, with those latter two trims to put out 640 horsepower and 565 pound-feet of torque. Well, the Black Label is here - don't let the California Sunset paint fool you - and it's more powerful than planned, with 730 hp and 600 lb-ft blasted out of a 5.0-liter Coyote V8 hooked up to a twin-screw supercharger. Saleen says it's the most powerful, refined, and advanced Mustang it has ever built. Keeping all that power on the road is the increase in downforce that comes from a body that's been extended one inch in front and two inches in the back, and the wing suspended over the decklid. The stock suspension is refitted with Saleen S4 springs, shocks, swaybars and bushings, and the 20-inch wheels on 275-section rubber hide 15-inch dimpled rotors. The interior gets the requisite frills in leather and contrasting stitches, as well as new gauges and badging. It'll take $73,214 to open the door, but just $2,015 to put down a deposit. For more info, check out the press release below. Related Video: 2015 Saleen 302 Black Label Mustang March 15, 2015 -- Earlier this year, Saleen Automotive released their 2015 White and Yellow Label 302 Mustangs to much fanfare. To round out their fleet, Saleen pulled out all the stops and developed one of the best Mustangs to date. This car is set to change the way pony cars are looked at from here on out. At a one-of-a-kind event in Downtown LA, Saleen raised the curtain on the latest pony car out of their Corona, CA headquarters. "Since I started building cars in 1984 my goal has always been to go above and beyond where anybody has been before", said Steve Saleen. "This will by far be the most refined and advanced Mustang we have built to date." With over 30 years of experience in both racing and manufacturing vehicles, it was only a matter of time before Saleen built a Mustang as comprehensive and technologically advanced as the 2015 302 Black Label. Power Saleen combined the reliability and potency of the 5.0L Coyote motor with a twin-screw supercharger. The pair produces the most power from a production Mustang yet at 730 horsepower and 600 lb-ft of torque on 91 octane gas.

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 dealer loses Super Bowl bet, pays $300K to lucky customers [w/video]

A Missouri Ford dealership's Super Bowl weekend sale cost it big when the improbable happened. Hutcheson Ford ran a promotion from January 29 to February 1, called the Super Weekend Sale. The gist was, if any customer purchased a vehicle between those dates and either the opening or second-half kickoff of the big game was returned for a touchdown, the dealership would refund the purchase price.
In the dealership's defense, it seemed like a safe bet. According to the mathematicians, there was just a 2.5-percent chance of either half opening with a touchdown return. But that didn't stop Seattle's Percy Harvin from doing his part to ruin Denver's evening, returning the second-half kick for an 87-yard touchdown run. Twelve Hutcheson customers were eligible for refunds thanks to the return, with prices ranging from $10,000 to $55,000, according to Automotive News. The total amount shelled out by the dealership? $300,000.
"At least we're not like that furniture guy that lost $7 million," dealership marketing manager Kathleen Frazier told AN. We think it was a big success." The dealership did take out insurance to cover its losses, meaning the $300K won't come entirely from its pockets.