Live Another Day Movie Official Trailer | The Inside Story of The 2008 Auto Bailout
Live Another Day ( is a feature film documentary that tells for the first time the inside story of the bankruptcy of General Motors and Chrysler and how the U.S. Government rescued these two iconic companies. This film picks up where The Big Short left off, showing how the housing crisis and the Lehman collapse led directly to the auto industry’s downfall.
Based on the book Crash Course, by Pulitzer Prize winner Paul Ingrassia, Live Another Day reveals, for the first time, the truth behind the collapse of General Motors and Chrysler and the government rescue of these companies. In this jaw-dropping and revealing film about the remarkable behind-the-scenes events of the auto industry bailout, the complete scenario is described by the key players themselves: car company CEOs, the United Automotive Workers’ President, senior members of President Obama's automotive task force, bankers, journalists, analysts, former Michigan Governor Jennifer Granholm, Tennessee Senator Bob Corker and even world-renowned car aficionado, Jay Leno.
The product of years of extensive research and interviews with major players in this drama, the film shows how the American car industry evolved to become an oligopoly (the “Big-Three” automakers) engaged in an irrational battle with a labor union monopoly (the UAW) until ultimately, the companies lost the ability to focus on their customers. Difficult decisions to address structural burdens, like crushing healthcare and pension liabilities, were dodged by all parties who preferred simply to “live another day,” rather than tackle the problems they faced. This unwillingness to act, when combined with the housing and financial crises of 2008, left the once-almighty automakers with no option but to plead for a lifeline from the United States Government.
This film is truly phenomenal and it is a tremendous public service to the American moviegoers able to see it, said Jerry Dalton, president of Dalton Pictures. If you thought you knew what went on during the auto bailout, think again. Live Another Day goes behind-the-scenes to reveal the inner workings of big businesses and the government during the high-stake days at the dawn of the Great Recession. Co-directors Didier Pietri and Bill Burke expose a remarkable story in a compelling way, and the timing of this documentary release could not be better.
As a timely entry for this political season, Didler Pietri and Bill Burke probe the details behind the 2008 collapse of the Big Three auto companies in Detroit. The story behind this messy corporate welfare bailout might even inspire a little grass-roots pushback.
The Live Another Day documentary ( is directed, written, and produced by Bill Burke and Didier Pietri of Argos Pictures (
Live Another Day Trailer Transcript
BOB KING: We were all tremendously concerned.
Graphic: DETROIT, MICHIGAN
BOB KING: Could the American auto companies survive?
GRAPHIC: IF YOU THINK YOU KNOW THE STORY OF THE AUTO BAILOUT
RON BLOOM: Oh my God, the General Motors Corporation is going to end.
MICHELLE KREBS: You’d get up every day and it was ‘Are we going to live to see another day?”
GRAPHIC: THINK AGAIN
PAUL INGRASSIA: The Automotive Task Force was created by President Obama to deal with a problem.
STEVE RATTNER: I was asked to take the auto job, now I was flabbergasted by that because I was not a car guy.
JAY ALIX: I think Steve Rattner was the largest Democratic fundraiser in New York State.
BILL HOLSTEIN: He arrived with a toxic cocktail of ignorance on the one part, and arrogance on the other part.
STEVE MILLER: To the extent that the government lost money on those bailouts, then the taxpayers were funding benefits for the UAW.
PAUL INGRASSIA: The UAW went from protecting the rights of workers from abuse to feather bedding.
JOHN CASESA: The union had this company by the throat.
PAUL INGRASSIA: If you worked 30 years in a car factory you could retire – you could be collecting for longer than you actually worked.
JOHN CASESA: GM at that point was spending far more on health care than it was on steel.
JOE HINRICHS: There were thousands of people sitting around, getting paid reading the paper.
BOB LUTZ: They wouldn’t believe that if you milked this cow too much, it’s going to drop over dead some time. And it was chapter 11, when they finally believed us.
STEVE RATTNER: We came this close to letting Chrysler go out of business.
JIMMY LEE: I said to Steve, “I want the $7 billion dollars, and not a penny less.”
TOM LAURIA: He was concerned that something was being cooked up to not pay the secured creditors back, and I told him, “This is America, that can’t happen.”
PAUL INGRASSIA: He said, “We’ll take Chrysler, but we’re not going to pay any cash for it.”
BOB NARDELLI: I don’t think I ever got a company that size for free.
TOM LAURIA: How does Steve Rattner fire the CEO of GM?
WHO Coronavirus Emergency Could Devastate The Stock Market
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The World Health Organization (WHO) declared the coronavirus outbreak a global public health emergency Thursday. The fast-spreading virus causes a potentially deadly respiratory infection. So far, coronavirus has infected over 8,000 people and killed at least 171. It has spread to 18 other countries from China, where the coronavirus originated in the city of Wuhan, including India, the United States, France, and Germany. WHO has waited to declare a public emergency. But as the organization convened a panel Thursday to reevaluate the pandemic’s status, the CDC confirmed a new development. The first person-to-person transmission of coronavirus within the United States likely impacted the WHO’s decision. An end in sight to the U. S.-China trade war vastly improved the outlook for stocks going into 2020. It seemed like nothing could stop the stock market bulls from pushing the Dow to to 30,000 in no time. Not even an unsettling brush with a shooting war in the Middle East. But the stunningly fast spread of the coronavirus, and its serious deadliness, put the bull market on hold. The stock market went from euphoric to cautious in the second half of January as coronavirus spread. It rallied this week as the WHO hesitated to upgrade it from a regional to a global crisis. Now news reports show the virus spreading quickly all over the world. And health authorities are preparing for the worst. The market seems to be reflecting these fears as the major indexes struggled for direction. Equities are more vulnerable to economic shocks from this virus than they were to SARS and H1N1. The last major global pandemics didn’t hit such an overvalued stock market. Those health crises struck at market low points with no room left to move but up. But just as alarming is the fact that China wasn’t nearly as big or important to the global economy back in 2003. One analyst warns the epidemic could even be a “Lehman-type moment tipping point” for the Chinese economy. It could plunge the entire world economy into another massive recession. Head of Research Patrick Perret-Green at economic intelligence firm AdMacro, even says the nervous markets are “far too casual” about the dangers:If the WHO (World Health Organization) is correct and the virus impacts for months, it doesn’t seem unreasonable that it could knock at least 1% off China’s growth and 0.5% off global growth… it’s not inconceivable that China could tip the global economy into an effective recession. Markets will have one more day to trade following the WHO announcement. Then two days to continue monitoring coronavirus developments while keeping an eye on futures movements. The first week in February could be disastrous for the stock markets if coronavirus keeps spreading at this rate. Disclaimer: The reports and opinions in this article do not represent investment or trading advice from CCN.com.
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