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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.

2014 Chevrolet Corvette C7 Convertible offers a few more views before reveal

Over the weekend, Chevrolet released its first images of the new 2014 Corvette Stingray Convertible. Now, ahead of the droptop's official introduction tomorrow at the Geneva Motor Show, the automaker has given us a few more shots of the softop C7 showing off the car's rump albeit from a high, strategically positioned angle.
From this angle, it's hard to get a sense for how long and flat the decklid really is, but we can easily see that, like the rest of the C7's design, the new convertible's decklid and tonneau cover are far more detailed than the current car. We also get a better look at the rear haunches sans brake vents, which have apparently been moved to underneath the car in order to accommodate the top's hard cover.
As for the overall styling of the C7 convertible, with the top erected, we get some idea of what a coupe design (as opposed to the Stingray's fastback shape) would look like on this car. The C5 Corvette most recently had a coupe model that did away with the large glass hatchback, and we recently reported on a low-cost "coupe" model potentially being added to the C7's repertoire.

Feds open investigation into Chevy Express, Ford Freestar rust issues

'Tis the season... for road salt. And with that, comes rust. And what does rust bring? Well, for Ford and General Motors, a National Highway Traffic Safety Administration investigation. According to The Detroit News, NHTSA is looking into potential recalls issues with Chevrolet Express vans and Ford Freestar minivans.
The feds have received five complaints that rust has caused leaking fuel filler pipes on 2003 Express vans. Separately, seven complaints have been filed over excessive rust in the rear wheel wells of 2004 Ford Freestar and Mercury Monterey minivans. The Freestar and Monterey went out of production in 2007. Neither issue has resulted in any crashes or injuries, according to the report.