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GM isn't liable for punitive damages in ignition switch cases

NEW YORK — A federal appeals court said General Motors is not liable for punitive damages over accidents that occurred after its 2009 bankruptcy and involved vehicles it produced earlier, including vehicles with faulty ignition switches. The 2nd U.S. Circuit Court of Appeals in Manhattan said on Tuesday that the automaker did not agree to contractually assume liability for punitive damages as part of its federally-backed Chapter 11 reorganization. GM filed for bankruptcy in June 2009, and its best assets were transferred to a new Detroit-based company with the same name. The other assets and many liabilities stayed with "Old GM," which is also known as Motors Liquidation Co. Tuesday's 3-0 decision may help GM reduce its ultimate exposure in nationwide litigation over defective ignition switches in several Chevrolet, Pontiac and Saturn models. It is also a defeat for drivers involved in post-bankruptcy accidents, including those who collided with older GM vehicles driven by others, as well as their law firms. The ignition switch defect could cause engine stalls and keep airbags from deploying, and has been linked to 124 deaths. A lawyer for the drivers and their law firms did not immediately respond to requests for comment. GM had no comment. Circuit Judge Dennis Jacobs said GM's agreement to acquire assets "free and clear" of most liabilities excused it from punitive damages claims for Old GM's conduct. He also noted that the judge who oversaw the bankruptcy concluded that the new company could not be liable for claims that the "deeply insolvent" Old GM would never have paid. The decision upheld a May 2018 ruling by U.S. District Judge Jesse Furman in Manhattan, who oversees the ignition switch litigation. Drivers have sought a variety of damages in that litigation, including for declining resale values. GM has recalled more than 2.6 million vehicles since 2014 over ignition switch problems. It has also paid more than $2.6 billion in related penalties and settlements, including $900 million to settle a U.S. Department of Justice criminal case. The case is In re: Motors Liquidation Co, 2nd U.S. Circuit Court of Appeals, No. 18-1940. Government/Legal Chevrolet Pontiac Saturn Safety gm ignition switch

Pontiac could be a phoenix rising from the ashes

Of the deceased American car companies from the past 50 years such as Hummer, Mercury, Oldsmobile, Plymouth and Saturn, I believe the most worthy resurrection would be Pontiac. After all, it's no longer politically correct to drive an ex-military vehicle with single-digit gas mileage, nor do Millennials and Gen-Xers desire AARP-associated nameplates such as Mercury or Oldsmobile. Pontiac was originally founded in 1893 by Albert G. North and Harry G. Hamilton as the Pontiac Buggy Company, due to their location in Pontiac, Michigan. But as the early 1900s automotive revolution took off, they shifted their focus from horse-drawn carriages to motorized transportation. Taking a cue from Oakland County where they were based, they rebranded their organization as the Oakland Motor Company. Within a couple years, sales of Oakland cars were so good that it caught the attention of General Motors and they bought the company. In 1926, GM premiered the first Pontiac and its name drew inspiration from the legendary Native American War Chief, who was famous for the Battle of Bloody Run and opposition of British forces. His likeness was used in early promotional materials as well as the vehicle's emblem which was referred to simply as the "Indian Head". In 1956, the outdated emblem was replaced with a new, sleeker logo that resembled a red arrow head. It was known as "The Dart" and featured a singular star in the center which may have been a nod to Pontiac's successful Star Chief model. The 1960s saw the introduction of several popular models such as the GTO and the Firebird. The GTO was initially offered as an option package on the 1964 Tempest, and the name was the brainchild of John Delorean, who would later go on to form his own eponymous automobile company. The Firebird debuted in 1967 as a pony-car foil to Ford's award-winning Mustang. Although mechanically similar to Chevrolet's Camaro, the Firebird boasted a distinct sheetmetal nose and tail to help visually distinguish it. The 1980s were another adventurous time for Pontiac, and GM took advantage of the sales momentum by running a successful ad campaign. It proclaimed "We Build Excitement" and highlighted an arrangement with musicians Daryl Hall and John Oats. The fiery Fiero was a home-run for Pontiac and it was introduced in 1983 as an '84 model. Not only was it the first U.S. produced mid-engine sports coupe, but it also utilized lightweight, dent-resistant body panels.

Burt Reynolds' old Pontiac Trans Am replica sold for $317,500

Following Burt Reynolds' passing last September, Julien's Auctions held an estate sale of the late actor's property on June 15-16 in Beverly Hills, Calif. Hundreds of items were included in the auction, but none more valuable than the Pontiac Trans Am Bandit replica previously owned by Reynolds. It easily surpassed expectations when it sold for $317,500. Julien's, the self-proclaimed experts in contemporary and pop culture, listed 876 pieces in the sale, from cowboy boots to a driver's license to scripts. The online preview said it estimated a range of prices from $25 to $200,000. They were way off. Item No. 716 was a replica of a Pontiac Trans Am Bandit that was seen in the original "Smokey and the Bandit." Not the real car, just a re-creation. But its value comes more from who owned the ride rather than what the car was. The replica was owned by Reynolds for some years, and now that he's passed, it's coveted even more. It's not the only Trans Am item that sold at auction. Three Reynolds Trans Am model cars sold for $640, $576 and $512. A Reynolds-signed "Bandit" poster sold for $3,200. A Reynolds-signed poster from the Trans Am plant sold for $1,562.50, a Reynolds custom-built Trans Am office desk sold for $4,375, and a "Smokey and the Bandit" decorative etched glass panel sold for $896. This isn't the first time a Bandit replica has sold for big money. In 2016, a promotional Trans Am sold at a Barrett-Jackson auction for $550,000. We also believe the exact car sold in this Julien's auction was previously bought at a Barrett-Jackson auction in 2018 for $192,500. If that's the case, somebody just made an extremely easy profit.