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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.

Amelia Island 2013: Chevrolet Corvette Sting Ray from concepts to split windows

While this year marks 60 years of the Chevrolet Corvette, the 2013 Amelia Island Concours d'Elegance focused on one of the coupe's most sought after models, the 1963 Sting Ray. General Motors design boss Ed Welburn was on hand to show off the all-new C7 Corvette, but even the hard-edged styling of the 2014 Stingray couldn't take away from the beautiful 1963 models sitting out on the field.
In addition to the original Sting Ray and the 1959 Sting Ray Concept, some of the other classic 'Vettes included "Big Tank" racecars, an interesting cutaway coupe, a right-hand-drive Z06 and the attention-grabbing 1963 Corvette Rondine by Pininfarina. Another impressive Corvette was the 1964 Corvette XP-819 rear-engine prototype. Owner Mike Yager had the car finished as a driving chassis for this year's show, but promises the car will be back to its original glory in time for next year's event.

C7 Corvette turbo with 1,000 horsepower promised from Hennessey

If you can't wait for the next-generation Chevrolet Corvette ZR1, Hennessey says they will have you covered. The Texas-based company has announced it will offer a spate of upgrades for the 2014 Corvette ranging from a range of bolt-on options all the way up to a 1,000-horsepower, twin-turbo system. Buyers can start with a cold air intake, cat-back exhaust or stainless steel long-tube headers, but Hennessey says it will also offer up three stages of forced induction mayhem should those bits and baubles not provide enough thrust.
Those choices start with a supercharger system good for up to 700 hp, though Hennessey will gladly ditch the blower in favor of two turbos. Doing so will spin the crank to the tune of 800 horsepower all the way up to a certifiably ludicrous 1,000 ponies. There's no word on how much these tricks will cost you - or when they will be available, as we're guessing they haven't gotten their hands on the car yet - but you can head over to the Hennessey site to drop them a line if you're curious.