2014 Cadillac Cts Luxury on 2040-cars

Auto blog

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.

First batch of 2022 Cadillac CT4-V, CT5-V Blackwings already sold out

Just a couple of days ago, when the 2022 Cadillac CT4-V Blackwing and CT5-V Blackwing were revealed, Cadillac announced it would start taking reservations for the cars. More specifically, it was taking reservations for the first 250 of each model. They went quite quickly, in just minutes according to a Cadillac representative. Apparently the more powerful CT5-V Blackwing sold out first, closely followed by the CT4-V version. But don't worry, because more of each are on the way. The Cadillac representative said that anyone wanting to reserve one who missed the initial 500 will be put on a wait list and contacted by their local dealer as more orders are available. Not only that, but the additional order slots should open up before production and initial deliveries of the cars begins this summer. So you haven't missed out on a 2022 model yet. As previously covered, the CT4-V Blackwing with its 472-horsepower twin-turbo V6 starts at $59,990. The CT5-V Blackwing starts at $84,990, but it packs a 668-horsepower supercharged V8. Each car also comes with a two-day driving school at Spring Mountain Motor Resort near Las Vegas. Related video:

Lego's 18.5-inch Ghostbusters Ecto-1 will make you feel like bustin'

If there's something strange in your neighborhood, Lego has something to help you take care of those non-terminal repeating phantasms or class-five full-roaming vapors. This week, it announced a supremely detailed version of the Ecto-1, the iconic 1959 Cadillac Miller-Meteor ambulance from the 1984 film classic, Ghostbusters. The set is comprised of a whopping 2,352 Lego pieces and when completed, will measure 18.5 inches long. It's one of the more accurate Lego vehicles the company has created, and features a steering box connecting the steering wheel to the front wheels, hinged doors and an opening hood with replica V8 engine inside. Like the movie car, it's packed with ghost-fighting gadgetry. There's a rotating ghost-sniffer activated by the wheels, a gunner seat that deploys from one of the rear doors, and a roof rack stacked with loads of spirit-trapping gear. Lego says it's even got some easter eggs that will be discovered as the kit is assembled. Lego says that two automotive pieces were developed specifically for the Ecto-1: a 6x14 curved windscreen and a five-module steering wheel. These should translate well to other vehicles in the future or for custom builds. Notably, this kit was designed by the Michael Psiaki, who created Lego's James Bond Aston Martin DB5 kit. The set is released as a tie-in with the upcoming Ghostbusters: Afterlife movie. It was supposed to be released this summer but was delayed until (as of now) June 2021 as a result of the COVID-19 pandemic. As for the Ecto-1 kit, it will hit shelves Nov. 15 just in time for holiday shopping.