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Chevy finishes restoration of damaged 1 millionth Corvette

When a sinkhole at the National Corvette Museum devoured eight, rare examples of the iconic American sports car last year, some of the victims emerged better than others. While damaged, the 2009 Corvette ZR1 Blue Devil was able to drive out under its own power, making for a fairly straightforward restoration. Meanwhile, the one-millionth 'Vette came out looking like a pancake. Bringing the convertible back to perfection has taken four months and 1,200 man-hours, but the milestone car is finally on display again. After being a brief exhibit at the National Corvette Museum, the millionth 'Vette was moved to the General Motors Design Center. There, a 30-person team started on the difficult restoration. "When we disassembled it, we found that each employee involved in building it had signed a part of the car, which was fantastic and moving to see," said GM executive Mark Reuss. Therefore, the team tried to retain as many original parts as possible. The damage was extensive, and repairs included straightening the front sub-frame damage, patching the seats, and carefully restoring the dashboard pad to maintain the signatures below. The hood, front fascia, and side sills were replaced with parts from a donor vehicle. To keep the 'Vette perfect, the team scanned the names and put them on the new components. In one case, they even went back to an original employee to sign a replacement part. Surprisingly, the engine and transmission were fine. With the work done, the National Corvette's Museum's revived exhibit is nearly complete. Five of the other cars aren't being restored, and the museum is bringing the 1962 Corvette back to life. <p>Your browser does not support iframes.</p> Chevrolet Fulfills 1 Millionth Corvette Restoration Pledge Sinkhole-damaged milestone returns to National Corvette Museum 2015-09-03 BOWLING GREEN, Ky. – After more than four months and 1,200 man-hours of painstaking craftsmanship, restoration of the milestone 1 millionth Corvette – a white 1992 convertible – is complete. It was unveiled today at the National Corvette Museum, where it returns as part of the permanent exhibit. The car was damaged on Feb. 12, 2014, when it and seven other rare Corvettes tumbled into a sinkhole that opened beneath the museum's Skydome area. Chevrolet pledged to restore it.

Frustrated GM investors ask what more Mary Barra can do

DETROIT — General Motors Co Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. Ahead of third-quarter results due on Oct. 31, GM shares are trading about 6 percent below the $33 per share price at which they launched in 2010 in a post-bankruptcy initial public offering. The Detroit carmaker's stock is down 22 percent since Barra took over in January 2014. After hitting an all-time high of $46.48 on Oct. 24, 2017, the shares have declined 33 percent. In the same period, the Standard & Poor's 500 index has climbed 7.8 percent. Several shareholders contacted by Reuters said GM could face a third major action by activist shareholders in less than four years if the share price does not improve. "I've been expecting it," said John Levin, chairman of Levin Capital Strategies. "It just seems a tempting morsel to somebody." Levin's firm owns more than seven million GM shares. Barra has guided the company through the settlement of a federal criminal probe of a mishandled safety recall, sold off money-losing European operations, and returned $25 billion to shareholders through dividends and stock buybacks from 2012 through 2017. GM declined to comment for this story, but the company's executives privately express frustration with the market's reluctance to see it as anything more than a manufacturer tied mainly to auto market sales cycles. GM's profitable North American truck and SUV business and its money-making China operations are valued at just $14 billion, excluding the value of GM's stake in its $14.6 billion Cruise automated vehicle business and its cash reserves from its $44 billion market capitalization. The recent slump in the Chinese market, GM's largest, and plateauing U.S. demand are ratcheting up the pressure. GM is one of the few global automakers without a founding family or a government to serve as a bulwark against corporate raiders. In 2015, a group led by investor Harry Wilson pressed GM to launch a $5 billion share buyback, and commit to what is now an $18 billion ceiling on the level of cash the company would hold. In 2017, GM fended off a call by hedge fund manager David Einhorn to split its common stock shares into two classes. Einhorn, whose firm still owned more than 21 million shares at the end of June, declined to comment about GM's stock price. Other investors said there were no clear alternatives to Barra's approach.

Corvette Stingray gets optional Z06 components

If you've got a Corvette Stingray in the garage and have been tempted by some of the upgrades incorporated into the Z06, but can't quite bring yourself to trade up, Chevy has got some good news for you. The Bowtie brand has announced a series of performance parts derived from those in the Z06, but applicable to the base Stingray. The list of parts includes new cooling elements, prop shafts, brakes, suspension components, and underbody braces. They can all be fitted to Stingray models with or without the Z51 performance kit, and promise to raise the Corvette's game if not quite to Z06 levels, then closer to them. And for Z06 owners interested in gaining a bit more advantage, Chevy is offering a new Level 3 aero kit as well. The parts were demonstrated on upgraded 'Vettes at the Ron Fellows driving school at Spring Mountain. The school is also serving as technical partner and the track as the location for a new spec racing series built around the C7 Corvette. Dubbed the Michelin Corvette Challenge, the calendar is composed of fifteen half-hour races held in pairs over eight weekends, all on the six-mile circuit near Las Vegas. The cars to be used in the series will be close to showroom stock and feature many of the new Z06-derived upgrades, with Michelin racing slicks for dry weather and Pilot Super Sport tires in the wet. Perhaps most compelling of all will be the payment plan that will allow participating amateur racers to pay in installments across the season and take home their Corvette after the season's conclusion in December. New Z06 Parts Enhance Corvette Stingray Performance Broad range of chassis, suspension and aero components enhance capability 2015-11-02 PAHRUMP, Nev. – Chevrolet today and drivers from the Ron Fellows Corvette high-performance driving school at the Spring Mountain track demonstrated Stingray models enhanced with components from a new lineup of Z06-based performance parts. They're designed for 2014+ Stingray models, including Z51-equipped cars. "We've selected specific components from the Corvette Z06 and engineered them to fit the award-winning Stingray," said Jim Campbell, Chevrolet U.S. vice president of Performance Vehicles and Motorsports. "These Z06 parts enhance the handling, braking, cooling and downforce performance of the Stingray." Ron Fellows, champion Corvette Racing driver, collaborated with Chevrolet Performance engineers on the all-new portfolio.