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GM won't pay owners of recalled cars for lost value

Kenneth Feinberg, the man in charge of the General Motors compensation fund dealing with the its widespread ignition switch woes, has issued an informal, two-letter response to the plaintiffs in more than 70 lawsuits seeking redress for lost resale value of their Cobalts: "No." The cases were recently combined into one, but Feinberg told The Detroit News that the fund will deal "only with death and physical injury claims," and that "perceived diminished value" will get no consideration.
ALG, the firm specializing in establishing residual values, determined that Cobalt owners had lost $300 compared to the segment competition and doesn't envision any long-term effects from the recall situation. Feinberg's statement comes in advance of public details on how the compensation fund will work and adheres to GM's long-held position on the matter. The company has already asked a judge to throw out such suits using the pre-bankruptcy defense, even as it stopped using that defense in cases of injury and death.
With plenty of potential gain from the GM suit, however, don't expect the plaintiffs to give up yet. When Toyota was sued for the same reason during the unintended acceleration debacle, it eventually settled the case for between $1 billion and $1.4 billion just to get it over with. Since the 85 law firms involved in the Toyota litigation took home more than $250 million of that total, we shouldn't expect the attorneys to give up on a GM payout, either.

Corvette + fireworks = so much glory

You might think that those of us making our living by reviewing cars, think critically about the cars we're driving most of the time. It could be that I'm an underachiever, but that's not the case with me. In fact, unless I'm set to the review task, I typically think about the cars in front of and around me more frequently. That's because a) you never know what you're going to see out there, and b) all of them could be out to bump/scratch/tailgate/crash me out. You can never be too careful. Such was the case when I was driving a 2015 Chevy Corvette earlier this week. I'd already had my fun finding the edges of grip on a river road in the car, the night before; on the morning in question I was just trying to get to work. But while scanning the suburban streets for potential dangers to the 'Vette's neat-o Daytona Sunrise orange paint, I spied a XXL-sized fireworks tent in an empty parking lot. Oh right, I remembered, 4th of July weekend. That obvious bit of observation lead to a chain of thought along these lines: "We should do something with this car for the 4th" ... "Too bad I have to give it back tomorrow." ... "Wonder if I could do a quick video?" ... "Wonder if I can set off a bunch of fireworks in slow-mo for a video?" The result, well, I won't call it genius, but I will say that I remember why every kid loves fireworks. And I will call it glorious. Happy 4th, y'all.

Read This: Auto Extremist advocates for Corvette as brand with multiple models [w/poll]

The 2014 Chevrolet Corvette really grinds Peter De Lorenzo's gears. Or, more accurately, the self-anointed Auto Extremist has an issue with what he sees as mismanagement of the legendary sports car by General Motors executives. In a new editorial on his website, De Lorenzo argues it's time to split Corvette off from Chevrolet to create an all-new brand, complete with a model range with at least three new takes on the sports car. Capable of fully leveraging the successes of the Corvette Racing program and brandishing the full might of GM's technical prowess, the Corvette brand would theoretically give Porsche something to sweat over.
Sure, that sounds like a party, but given GM's troubled track record when it comes to launching (let alone managing) brands, we say that's slippery slope that could just as easily end with the whole Corvette franchise in the scrap bin. Either way, the notion is certainly an interesting one. Head over to Auto Extremist to take in the full editorial, and then let us know what you think in Comments. Should GM split off its most storied nameplate?
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