2001 Chrysler Pt Cruiser Touring Wagon 4-door 2.4l - Leather, Sunroof, 86k Miles on 2040-cars

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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.

Jay Leno parades around in '52 Chrysler Imperial

Jay Leno is not known as a quiet man. He's a comic, after all. So how do you think it'll go when he's given an enormous, Chrysler Imperial parade car, complete with two meaty public-address speakers on the front bumper? Exactly. In an amusing start to the latest episode of Jay Leno's Garage, we see the eponymous star of the web series addressing the citizens of Burbank, CA from the big, comfy seat of a 1952 Chrysler Imperial Dual-Cowl Phaeton. One of just three produced by Chrysler at a price of about $33,000 a pop – a whopping $296,000 in today's dollars – this particular example is owned and still used by the city of Los Angeles. Its most famous passengers include President Dwight D. Eisenhower and then-Vice President Richard Nixon. Underhood, there's a 331-cubic-inch Hemi V8 that's been mated to a two-speed PowerFlite automatic. As for the exterior, while it may look like a 1956 Imperial, it did originally roll out of the factory in 1952. According to the LA city officials that accompanied the car, Chrysler called the three sedans back in 1955 and refitted them to fit in with the latest Imperial models. At 21.5 feet long, even in today's world of big pickups and SUVs, this particular example occupies a big space on the road. Surprisingly, it's still driven regularly, taking part in parades and celebrations across the City of Angels. You can check it out both in Jay's garage and on the streets of Los Angeles in the video above.

FCA spends $1.5 billion to retool plant for Ram production

Fiat Chrysler Automobiles (FCA) is planning to invest $1.48 billion to retool its Sterling Heights Assembly plant in metro Detroit to build the next generation of the Ram 1500. The investment will allow the assembly plant to go from unibody to body-on-frame construction. FCA also confirmed that production of the Chrysler 200 will end in December in order for the plant to be altered. As previously reported, FCA is looking to move production of the 1500 from its current assembly plant in Warren to the Sterling Heights Assembly plant (both are in Michigan). While FCA has not released any official plans for the Warren Truck Assembly Plant, Automotive News reports that the plant will be retooled to manufacture the Jeep Wagoneer and Grand Wagoneer SUVs. Earlier this month, FCA announced plans to invest $1.05 billion to retool the Jeep Wrangler factory. FCA's current investment plans are part of the automaker's push to put competitive products on the road. Related Video: News Source: FCA, Automotive NewsImage Credit: FCA Plants/Manufacturing Chrysler Jeep RAM SUV Sedan