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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.

Win the 'ultimate 80s muscle car,' a Buick Grand National GNX

Poll the Autoblog staff about which car is considered the ultimate '80s muscle car, and one of the two answers that'll come up is the Buick Grand National. The other, for those curious, is the Mustang GT 5.0, but that less important right now because Omaze isn't giving away one of those. It is, however, giving away a 1987 Grand National GNX, with an astonishingly low 2,000 original miles, and you can win it here. Win a 1987 Buick Grand National GNX - Enter at Omaze Here are the specs of the GNX, per Omaze: Max Seating: 5 Powertrain: Turbo 3.8 Liter V6 Engine Transmission: 4-speed automatic    Drivetrain: RWD Exterior Color: Black Interior Color: Grey/Black Horsepower: 276 hp Torque: 360 lb-ft Acceleration: 0-60 mph in 4.7 seconds Top Speed: 124 mph Fuel Capacity: 15.1 gal Approximate Retail Value: $185,000 Cash Alt: $138,750 Special features: Only 2,000 original miles; #51 of 547 produced; blacked out exterior; 16-inch cross-weave wheels; wheel arches; torque arm rear suspension  According to Omaze, "no donation or payment is necessary to enter or win this sweepstakes." If you do choose to donate, $10 will get you 20 entries, while $50 will get you 500 entries and $100 will get you 1,200 entries. Donations benefit the ACLU. Per Omaze, “the ACLU is an organization of people who believe in the power of action. Whether in the courts, statehouses, or Congress, they fight to defend the rights that the Constitution guarantees to all of us — regardless of who we are, where we come from, who we love, or what we believe. The ACLU evolved from an organization of lawyers and advocates into a larger coalition of people fighting for whatÂ’s right together — for all of us. The ACLU seeks to be the place where people can come, no matter their political affiliation, to take action. ” If you want this relic of the 80s in your driveway, enter here. The deadline to enter is November 3, 2022, at 11:59 p.m. Pacific. Buick Commerce deals buick grand national

Weekly Recap: Ford GT inspires guitar, foosball table, sailboat

Ford design vice president Moray Callum had just wrapped up a briefing on the interior of the Ford GT last month, but something seemed out of place. He grinned and pointed behind him, "You might be wondering why I have a boat behind me," he said mischievously. It was there because Ford set its designers on a mission to stretch and showcase their talents: design non-automotive objects inspired by the interior of the GT supercar. Callum received quite a response, too. His team produced a guitar, a foosball table (yeah bro!), a racing sailboat, a Wi-Fi speaker and some furniture. As the veteran design chief explained, "It's a really great exercise both to highlight our designers' talents, but also to really see how our design philosophy can work and how you can use it and get a common response back from a worldwide design team." Guitar View 25 Photos The objects have been on display this week at the Salone del Mobile furniture and fashion design fair in Milan, Italy, where Ford has had a presence for three years. There's also a light exhibition that apparently was inspired by the GT, as well. While this might seem a little far-fetched for the automaker, Ford said exhibitions like the Salone del Mobile give its designers another way to be creative and ultimately produce striking interior style. Ford wants this to be a differentiator, as research shows consumers are placing emphasis on the layout and features inside when they're making a decision about buying a new car. It's a little light hearted – but it's also potentially big business. Other News & Notes Cadillac CT6 platform could be used for Buick General Motors product chief Mark Reuss said the Cadillac CT6 platform could be used for a large Buick, though "not yet," Automotive News reported. The underpinnings can accommodate rear-wheel or all-wheel drive and would give Buick the large flagship it lacks. The report jibes with comments Reuss made at a roundtable with Autoblog and other reporters at the New York Auto Show. When asked if Buick had space for a large car on the CT6 chassis, he replied, "Yeah, I think it does. Yeah, I think we do." Buick has revamped its lineup in recent years with attractive crossovers and small and midsize sedans, but hasn't added the proverbial flagship that's yearned for by enthusiasts. Buick surprised industry observers with the stylish Avenir concept at the Detroit Auto Show earlier this year that raised the possibility of a halo sedan.