We opened up the WB a live line now on welcome Jeff Gilbert in Detroit just covers the auto industry for CBS news. Jeff good morning thank you for joining us. It was Lee Iacocca. Right who developed the mustang at a time when Ford who really needed something new and different. That Lee Iacocca would actually the marketing genius behind the mustang to a lot of technical people be any actual. Development of the vehicle but he's a guy who introduced the the New York squirrels they're fifty years ago today and you know he helped. Do all the marketing that made it a huge ships. You mentioned the mustang even to non car buffs I think they starts tells stories or GI had went back went. Why is this car so prominent people's memories. Well you know it's been around fifty years and not very many cards have been around that long and -- and it's been a vehicle. That's affordable Corvette for example but on far longer but it's not it's affordable and attainable of the mustang. So people can actually buy this vehicle and they can get it. As souped up that they want where it's -- it Shelby GT. Merger and and special customized versions that I can blow the doors off of exotic super car. Or they can get something that would de -- excellent or injury and coming up our four cylinder engine and it just looks cool but gets very good fuel economy so there are a lot of Troy says. And again it's been attainable. Jeff most telling my live broadcast partner your -- a little while ago that I bought a brand new. Mosque thing in 1964. I think I remember paying 2150. Dollars for. If that sounds right what -- some of these 1960 foremost thing is worth today. Well I I'm not an -- here so I can't tell you but obviously depending on the condition. There were a little bit more than that and what -- really interesting is I interviewed -- -- who bought the course mustang. She's still as -- that's out of blue. She bought it actually a couple of days before the car was unveiled the dealer actually had one of these older and she -- to about 1979. Yet that in a garage for a walk and that it wanted to get rid of it -- a few years ago Oceanic completely restored and it is in mint condition. That's interesting why did she say it's special to her. Well it's special to her because it reminds her of her younger days she was just a starting teacher backed. Fifty years later she's now retired -- I would imagine every time she gets and that vehicle it brings back memories of our younger and also. What does this new limited edition Ford Mustang coming out now in 2014. Going to college. You know they have not talked about a price but again as likely to be very attainable they've got an all new version that's coming out later this year and they've got. Our special limited edition of -- this is mostly going to be for collectors. And the only gonna make 1964. Of them and accurate throws. Numbers down together you've got 1964. A lot of the celebrations are taking places like in Oklahoma on North Carolina Las Vegas. How is Detroit celebrating this for doing anything today. The airport is gonna have -- employees who have -- bring them to their world headquarters building today. -- -- around the lunch or they're gonna have a big party -- they're gonna -- they're mustangs current classics. And that you bring -- people and -- mustang club to show off their vehicles. In Iowa I wish I still had mine Jeff thank you for joining us this morning we're very grateful. From Detroit stood Jud Gilbert who covers the automobile industry for CBS news.