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Frustrated GM investors ask what more Mary Barra can do

DETROIT — General Motors Co Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. Ahead of third-quarter results due on Oct. 31, GM shares are trading about 6 percent below the $33 per share price at which they launched in 2010 in a post-bankruptcy initial public offering. The Detroit carmaker's stock is down 22 percent since Barra took over in January 2014. After hitting an all-time high of $46.48 on Oct. 24, 2017, the shares have declined 33 percent. In the same period, the Standard & Poor's 500 index has climbed 7.8 percent. Several shareholders contacted by Reuters said GM could face a third major action by activist shareholders in less than four years if the share price does not improve. "I've been expecting it," said John Levin, chairman of Levin Capital Strategies. "It just seems a tempting morsel to somebody." Levin's firm owns more than seven million GM shares. Barra has guided the company through the settlement of a federal criminal probe of a mishandled safety recall, sold off money-losing European operations, and returned $25 billion to shareholders through dividends and stock buybacks from 2012 through 2017. GM declined to comment for this story, but the company's executives privately express frustration with the market's reluctance to see it as anything more than a manufacturer tied mainly to auto market sales cycles. GM's profitable North American truck and SUV business and its money-making China operations are valued at just $14 billion, excluding the value of GM's stake in its $14.6 billion Cruise automated vehicle business and its cash reserves from its $44 billion market capitalization. The recent slump in the Chinese market, GM's largest, and plateauing U.S. demand are ratcheting up the pressure. GM is one of the few global automakers without a founding family or a government to serve as a bulwark against corporate raiders. In 2015, a group led by investor Harry Wilson pressed GM to launch a $5 billion share buyback, and commit to what is now an $18 billion ceiling on the level of cash the company would hold. In 2017, GM fended off a call by hedge fund manager David Einhorn to split its common stock shares into two classes. Einhorn, whose firm still owned more than 21 million shares at the end of June, declined to comment about GM's stock price. Other investors said there were no clear alternatives to Barra's approach.

2021 Buick Envision is a vision of Buick's future that's shockingly stylish

Allow us to introduce you to the new and much improved 2021 Buick Envision. Don’t let the handsome shape and sharp design fool you. This compact crossover is a Buick. The Envision has been a frumpy and rather boring looking crossover since its launch for the 2017 model, and now GM has remedied that sticking point. This new made-in-China (the first Buick sold in America that was assembled there) crossover is full of sharp edges, muscular lines arcing through the body and crisp lighting fixtures. ItÂ’s verging on European in nature. If this is a hint of things to come at Buick, we are quite optimistic for the future of its crossover designs now that the cars are dead. “The 2021 Envision will be lower and wider, with premium proportions and striking styling designed to combine the expressiveness of a car with the practicality of an SUV,” said Helen Emsley, executive director, Global Buick and GMC Design. Perhaps youÂ’re hoping for additional details? We only have a few. Buick says it will be powered by a 2.0-liter turbocharged four-cylinder, and shifting duties will be handled by a nine-speed automatic transmission. ItÂ’s likely the same 2.0-turbo that makes 252 horsepower and 295 pound-feet of torque in the outgoing Envision. ThereÂ’s no word on the 2.5-liter naturally aspirated four-cylinder model, but itÂ’s likely being dropped from the lineup. There are no interior photos, but itÂ’ll have a 10-inch infotainment screen in the center that comes with Apple CarPlay and Android Auto functionality as standard equipment. There will also be a number of safety and driver assistance features tacked on as standard including lane-keeping assist, forward collision warning with automatic emergency braking and pedestrian detection, rear parking sensors and GMÂ’s safety alert seat that pulses directionally for alerts. Some options include a 360-degree camera, front parking sensors, rear cross-traffic alert, blind-spot warning, head-up display and GMÂ’s rearview camera mirror. Buick also says the Envision will be available in their top-tier Avenir trim. Other details will have to wait for later in the year, as Buick says all will be revealed at some point down the road. Consider this a preview with a few tasty bites of info about whatÂ’s to come. For now, weÂ’re liking the direction that Buick is taking this crossover. Related video:

2022 Buick Enclave reportedly getting Black Accent package

Buick's updated Enclave crossover will go on sale later in 2021 with a revised design and a longer list of standard features. When it lands, it will reportedly be offered with a dealer-installed blacked-out appearance package. Enthusiast website GM Authority learned the optional Black Accent package will consist of black mesh inserts in the grille and black trim on the hatch; these bits are bright in the standard 2022 Enclave (pictured). They'll be installed by the selling dealer, meaning the Enclave won't leave the factory with the Black Accent package, and the bundle has been assigned Regular Production Option (RPO) code PDM; every General Motors option gets an RPO code. Not all trim levels will be eligible to receive the Black Accent package. It'll be available on the Premium and Essence trim, according to the same source, but it will not be compatible with the range-topping Avenir trim. Additionally, buyers won't be able to tick the Black Accent box if they've also selected the Essence trim's Sport Touring Edition package or the Luxury Package that can be fitted to the Premium and Essence trim levels. Pricing information isn't available yet, though the package will reportedly not be available at launch. Buick hasn't commented on the report, and it hasn't announced plans to make a Black Accent package available on the Enclave. If the rumor is accurate, more information and official photos will be released in the coming months. Related video: 2022 Buick Enclave Avenir revealed