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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.

Crash victim found still inside car 6 hours after it was towed away [w/video]

Police near Dayton, OH, have quite a confusing case on their hands after the victim of a crash early on New Year's Day couldn't initially be found. Six hours later, the man was discovered lying on the vehicle's floorboard at the tow yard. The unidentified person was admitted to a local hospital in critical condition with possible leg injuries. The police first responded to the scene of the crash around 3:00 am on New Year's Day when a Chevrolet Impala hit a utility pole and drove through a fence, according to WHIO News. The authorities claim that they searched for the man for an hour and a half and came up with nothing. The car was then hauled away to the yard, which was only about 500 feet away. The tow yard worker found the man around 9:00 am and called 911. However, he was clearly dubious about the injured man's predicament and suggested to the operator that he might have returned to the Impala. Police are still investigating the incident. According to WHIO, authorities might have somehow missed the man in the sedan during the search. Alternatively, he could have left the scene of the accident and later returned. Watch the video below for more about this bizarre case. The video meant to be presented here is no longer available. Sorry for the inconvenience. News Source: WHIO via Yahoo Autos Chevrolet Police/Emergency Videos Sedan

Surprise! GM putting aluminum in next-gen pickups

Last month, General Motors launched a series of ads touting the benefits of steel over aluminum – specifically, with regard to the Chevy Silverado versus the Ford F-150. (Kind of. We're not sure what a grizzly bear has to do with anything.) We took issue with the ads, with editor in chief Mike Austin saying they "reek of insecurity, and distract from the Silverado's strengths that could be used for positive advertising." But what bothers us more, is that yet another report surfaced claiming anti-aluminum GM will indeed use the weight-saving material in its next-generation fullsize trucks. On Tuesday, GM announced a $877-million investment for its truck plant in Flint, MI. But Reuters says that huge overhaul is because the trucks will use "substantially different equipment than the tools GM uses today." The report specifically states, "People familiar with the company's plans say GM's next-generation pickups and SUVs will make use of various materials, including aluminum and lightweight steel, to shed weight and gain fuel efficiency to meet tougher federal standards." The Silverado already uses a few aluminum components in the engine and hood, and if more widespread use will help GM build its best fullsize trucks ever, then that's great. Honestly, we have no reason to doubt that aluminum will be used in the next Silverado and GMC Sierra. We just hope GM remembers that nothing is ever truly deleted from the bowels of the Internet when it launches the subsequent "look how great aluminum is!" campaign. Related Video: News Source: Reuters Green Plants/Manufacturing Chevrolet GM GMC Truck aluminum steel