The VideoLAN Forums

First off I must say how much I truly LOVE VLC. It was so wonderful to finally find such a versatile video player with so many features. Love the Santa hat that shows up for the holidays too:). Only feature I need that seems to be missing is the ability to select a portion of the current video file and either save JUST that portion as a new file OR delete just that portion and save the rest of the modified file. I know i can use the RECORD button to save a portion, but that takes too long if the clip i want to save is more than a minute. Please send up a flare if you add this feature and best wishes for a happy new year.

VLC is not an editor. There was VLMC but I think development has been stopped:
https://www.videolan.org/vlmc/

You'd better use a dedicated video editor tool such as AviDemux:
http://avidemux.sourceforge.net