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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.

Question of the Day: What's the most irritating car name?

You hear a lot about how the Chevrolet Nova was a sales flop in Mexico because "No va" means "it doesn't go" in Spanish; in fact, the Nova sold pretty well south of the border, and in any case most Spanish-speakers know that "Nova" means "new" in Latin and Portuguese. However, General Motors doesn't deserve to be let off the hook for bad car names, because the Oldsmobile Achieva— no doubt inspired by the excruciating "coffee achievers" ads of the 1980s— scrapes the biggest fingernails down the screechiest chalkboard in the US-market car-name world. That is, unless you think Daihatsu's incomprehensible choice of Charade was worse. Meanwhile, Japanese car buyers could get machines with cool names like Mazda Bongo Friendee or Honda Life Dunk. It's just not fair! So, what car name drives you the craziest? Related Video: Auto News Design/Style Chevrolet Honda Mazda Daihatsu Automotive History questions car names

OnStar to offer 90-day driving assessment, possible insurance discount

General Motors has announced a brace of new features for OnStar, two of which could help you save money assuming you're willing to sign over some (more) personal details. The first is a driving assessment program in which OnStar takes note of certain driving parameters for 90 days, then provides the driver feedback on their driving, both individually and when compared to other drivers in the program, as well as driving tips. Think of it as OnStar's ICE version of the Nissan Leaf's CARWING feature that compares how efficient your electric driving is compared to other BEV drivers. In this case, though, certain drivers will have the chance to share their assessment with Progressive Insurance, and if the numbers are right they might get a "driving-based" discount from the insurance company. The assessment program is voluntary, and requires opting in. It will be available this summer on all new GM cars and some GM vehicles back to 2013. In case this sounds like Big Brother, let's not forget that Big Brother is already here and moved in so long ago that he's a member of the Kiwanis club and is hosting neighborhood block parties. Progressive already has a million enrollees in a program called Snapshot that tracks OBD II data to offer usage-based insurance to provide annual pricing based on how much you drive your car, with discounts of up to 30 percent. The OnStar effort is just another way to do that. The second feature is proximity offers through AtYourService, which notifies drivers to deals and information on their driving route and provides coupons from RetailMeNot and Entertainment Book. Beyond that, a deal with Priceline will let OnStar agents book hotels for you starting this year, there's a tie-in with Dunkin' Donuts, too, but we're fuzzy on those benefits, and third new feature lets Chevrolet owners know when certain parts need replacing. News Source: Detroit NewsImage Credit: AP Photo/Carlos Osorio Chevrolet GM Technology