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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

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.

2020 Porsche 911 Speedster spied with an angry driver

Porsche gave us details and showed us a concept of the 911 Speedster at the Paris Motor Show. Today, we bring you spy shots of what appears to be the production version of that concept with a few changes on board. They're rather minimal modifications, but the Speedster's driver appears especially angry with our spy photographer as he extends his middle finger directly toward the camera. Sorry, not sorry, Mr. Test Driver. Public testing of pre-production cars always comes with photo risks, and Porsches tend to attract more attention than others. You'll notice what appears to be a Cayenne Coupe prototype we've previously spotted running around with the 911. The Speedster Concept we saw in Paris had epic retro mirrors and fuel cap on the front hood, but both those design touches are absent from this pre-production car. It's tougher to see, but we lost the vents in between the two humps, as well. Everything else appears to have made it to production-spec. We can't say we're surprised these concept car features probably won't show up on the production car, but it is a tad deflating. You'll notice the Speedster is based-off the 991.2 generation of 911 and not the new 992. Porsche did a similar thing when the 997 generation was coming to an end with a Speedster model paying tribute to that car's life. The chassis is said to utilize parts from the 911 GT3, and the wonderful naturally aspirated flat-six engine gets carried over from that car, too. Porsche didn't specify if power will be exactly the same as the GT3, but we'll be expecting about 500 horsepower and a 9,000 rpm redline. We were told the six-speed manual would be offered on the Speedster in Paris, too. Let's just say that we strongly approve of that combination. Production will be limited to only 1,948 cars and begin in the first half of this year. We'll expect a reveal with a full spec breakdown soon, possibly for the upcoming Geneva Motor Show. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.