The bright white light moved at high speed from the sky down to the horizon and then horizontally across the treeline.

I was driving in a car on eastbound I-70 past Reynoldsburg, Ohio, on the night of Dec. 23rd, 2004. In the car was my mother; we were on our way to visit my grandparents for the holidays. 
Looking due east down the highway I spotted a large white light about 45-60 degrees above the horizon. I was pointing out to my mother that it sure seemed awfully bright for a star. It wasn't much bigger than a star but it was much brighter. At first I thought it might be a hovering helicopter with a searchlight (although no other lights were flashing).
 Soon after I pointed it out to her it streaked towards the ground like a shooting star. It left a streak as it fell. My fears of a helicopter crashing suddenly evaporated when the light stopped at the horizon.  I have no clue how high it was due to its distance away from us. We were continually closing on it but we never got close enough to see anything other than lights. 
Miffed at the speed of the fall and the sudden stop, I still was trying to figure out how a plane or a helicopter could have recovered from such a quick descent.
 Suddenly it streaked horizontally from in front of us to 90 degrees from the front of the car on the drivers side door. It seemed to hover over a tree line across a field off the highway. Suddenly the bright white light went out and a smaller red and blue light alternated on and off for a few seconds. Then the white light came back on brighter than before. 
This whole time I was trying to watch and drive at the same time as my mother watched from my right. I eventually had to stop watching as I was having to look back at this point. It was still there the last time I looked. Never moving but just hovering over the trees.
 I'm a CAD/CAM Administrator and have never seen a UFO before (although I believe in them). My mother is a hairdresser and she fully admits that she whitnessed the whole event as well. The relatives later that night were not as amused.