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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 recalling 450,000 Fusion, Mercury Milan sedans

Ford has announced a pair of recalls, and both are critical safety issues. The exponentially larger of the two recall campaigns affects over 450,000 Ford Fusion and Mercury Milan sedans manufactured at the Hermosillo plant between July 21, 2008, and March 4, 2011. The canister purge valve in the fuel tank could malfunction and could cause the top of the tank to crack and leak fuel. That could cause a fire, although Ford "is not aware of any accidents, injuries or fires" resulting from the issue. Affected vehicles will have their ECU software updated and their fuel tanks inspected for potential replacement. The company estimates there are 411,205 affected units in the United States (and its federalized territories), plus another 33,605 in Canada, and 7,055 in Mexico. The second recall affects 13 F-650 trucks. The column shifter's park position mechanism may fracture and let the truck roll away unexpectedly. Those 2016 models built in Ohio between July 29 and September 3, 2015 are all located in the US. Fixing the problem will require replacing the steering column and reconfiguring the instrument panel. FORD ISSUES TWO SAFETY RECALLS IN NORTH AMERICA DEARBORN, Mich., Nov. 23, 2015 – Ford Motor Company is issuing two safety recalls in North America. Ford is not aware of any accidents, injuries or fires related to these conditions. Details are as follows: Ford issues safety recall for certain 2010-2011 Ford Fusion and Mercury Milan vehicles in North America for potential fuel tank issue Ford Motor Company is issuing a safety recall for approximately 450,000 2010-2011 Ford Fusion and Mercury Milan vehicles for a potential issue with the fuel tank. Some of these vehicles might have a canister purge valve that does not work properly, causing internal pressure changes inside the fuel tank. Repeated pressure changes inside the tank could result in a crack on the top of the tank, possibly allowing fuel to leak. A fuel leak in the presence of an ignition source can lead to a fire. Ford is not aware of any accidents, injuries or fires related to this condition. Affected vehicles include certain 2010-2011 Ford Fusion and Mercury Milan vehicles built at Hermosillo Assembly Plant from July 21, 2008 through March 4, 2011. There are a total of approximately 451,865 vehicles that might be affected in North America, including 411,205 vehicles in the United States and federalized territories, 33,605 in Canada and 7,055 in Mexico.

Ford files trademark for 'EcoBeast' moniker

Ford has done some performance stuff with its EcoBoost line of vehicles, most notably with its Focus and Fiesta ST, the new, turbocharged Mustang and the luke-warm Taurus SHO and F-150 Tremor, but it's kind of avoided going wholly bonkers. That could be set to change quite soon, judging by a trademark filing with Uncle Sam. Ford has registered the name EcoBeast with the United States Patent and Trademark Office, listing it as "automobiles and automobile engines," according to the team at Motorlix, which discovered the filing. As always, it bears mentioning that companies are constantly filing trademarks, even if a good or service never emerges with said name. We agree with Motorlix, though – it seems highly unlikely Ford is going to just let this name languish. What vehicle or engine will wear this new badge is the real question. We're leaning towards something F-150 related, based on our last round of spy photos of the new SVT Raptor, although it's impossible to say for certain what the Blue Oval has planned. Here's hoping we find out in just a few weeks when Ford brings basically all of its performance merchandise to the 2015 Detroit Auto Show. Until then, let us know what you think Ford is planning with the EcoBeast.