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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.

Stolen '79 Vette finds home at Dream Cruise [w/video]

After over three decades of waiting, George Talley finally has his 1979 Chevrolet Corvette back, and it's as good as new. The coupe was stolen off of a Detroit street in 1981, but last year Talley received a call that the 'Vette was found in Mississippi. General Motors Executive Vice President Mark Reuss heard the touching story and had the automaker help get the car back to the Motor City. Now after a restoration by the GM Heritage Center and Autometric Body Shop, Talley got the keys to his Corvette back during the Woodward Dream Cruise. When Autoblog spoke to him after the coupe was returned last year, Talley said that the first thing he wanted to do with it was, "I think I'm going to cruise Belle Isle." We hope he enjoys the drive because the experience is a long time coming. You can watch Talley's excited reaction to see his newly refurbished 'Vette for the first time in the video below. Stolen Corvette Reunion and Restoration on Display at Woodward Dream Cruise 2015-08-14 DETROIT – George Talley's 1979 Corvette was stolen 33 years ago and recovered last year in Mississippi. General Motors executives, who heard of the recovery, offered to bring the car back home to Mr. Talley and restore it on his behalf. The GM Heritage Center, in conjunction with Autometric Body Shop in Center Line, Mich., took on the restoration project. Talley got an opportunity to see the progress ahead of its official reveal at the Woodward Dream Cruise on Saturday. Founded in 1911 in Detroit, Chevrolet is now one of the world's largest car brands, doing business in more than 115 countries and selling around 4.8 million cars and trucks a year. Chevrolet provides customers with fuel-efficient vehicles that feature engaging performance, design that makes the heart beat, passive and active safety features and easy-to-use technology, all at a value. More information on Chevrolet models can be found at www.chevrolet.com.

Autoblog Podcast #327

New York Auto Show, Jim Farley interview, 2014 Chevrolet Silverado fuel economy, Ford fuel economy app challenge
Episode #327 of the Autoblog Podcast is here, and this week, Dan Roth, Zach Bowman and Jeff Ross talk about this year's New York Auto Show, Chevrolet's latest assault in the pickup truck fuel economy battle, and Ford's reward for developing a better fuel economy app. Dan also has an interview with Ford's Jim Farley about the future of Lincoln. We wrap with your questions and emails, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!
Autoblog Podcast #327: