How do I slice .MTS files?

n00b

New member
Very often I would have a 3 minute long .mts file with only 15-20 seconds of usable footage. I would love to have the ability to just slice the file, trash the unwanted parts and save the good part in the same .mts format. Is there anything out there that would do that losslessly? It should be pretty simple, it can be done in-camera, but I want to review the footage on my PC first. What do you use?
 
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Ouch, $50. I already have Premiere, is it capable of something like this? Maybe some open source project?
 
If you find a good free one please come back and let us know about it!
I will if I do. You guys have way more experience though, this is the "go to" place for the answers for me. Please post any software packages that are capable of this even if not free or cheap.
 
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