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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.

2015 Cadillac Escalade is exactly what you expect [w/video]

Leading up to the debut of the 2015 Cadillac Escalade, we were told that the new luxo-SUV would be "much less ostentatious" and that we could expect greater differentiation from its Chevy Tahoe/Suburban and GMC Yukon siblings. And while those things may be true to some extent, after digesting the full raft of Escalade information and photography, we can say that this new 2015 model is exactly what we were expecting all along.
No, there isn't a single part of the new Escalade package makes us go "wow" or "ooh," but it still looks like a solid, nicely updated offering that will surely attract the same sort of baller status when it hits the road. For starters, the new front end has been completely redesigned, where cleaner, tauter lines work with the full-LED headlamps and running lamps to create a face that, while familiar, falls right in line with the rest of Cadillac's lineup. Around the sides, the shape is exactly the same as the rest of the SUV's platform mates, with better-fitting body panels and a handsome, upright design. Of course, 20-inch wheels are standard, and hifalutin' 22-inch rollers are available (in chrome, we assume). Things get really interesting around back, where full-LED taillamps extend from the bumper all the way up to the top of the tailgate, and - like the Tahoe/Suburban/Yukon - the rear window wiper has been integrated into the top of the hatch for a cleaner look. It all looks pretty modern and good, but doesn't really tone down the otherwise flashiness of the Escalade package.
Like its predecessor, the new Escalade will be available in standard- and extended-wheelbase formats (bring on the EXT!). Only one engine is available: GM's 6.2-liter EcoTec3 V8, good for 420 horsepower and 460 pound-feet of torque, mated to a six-speed automatic transmission. Both two- and four-wheel drive configurations will be offered, and the new Escalade should be a bit better to drive than the previous model, with a new coil-over front suspension and five-link rear setup, a wider track, variable-assist electric power steering and Cadillac's Magnetic Ride Control system with Tour and Sport modes.

Want to beat LA traffic? Chargers QB Philip Rivers has found a way

Slogging through traffic in Southern California is about as pleasurable as being slowly eaten by bears or being the awkward third wheel on a bad first date. It feels like it's never going to end. After the team relocated to Los Angeles from San Diego, Chargers quarterback Philip Rivers decided that three hours wasted each day in a car was too much. As The San Diego Union-Tribune reports, Rivers' rolling office makes his days more productive than ever. After deciding that he wasn't going to relocate his family to Orange County, Rivers was stuck with the prospect of either spending considerably less time with his children or skipping out on much-needed film work at the team's training facility (not really an option given his profession). Instead, he began investigating a number of options to make his lengthened commute slightly more viable and productive. First, he considered carpooling with a teammate. That was still too much of a pain. He looked at flying a helicopter, but unless it could land close to both his home and the practice field, it too was useless. A quick online search eventually led to the rolling footage review room you see here. Becker Automotive Design in Oxnard, Calif., builds these rolling offices for a wide range of customers. It sells modified Mercedes-Benz Sprinters, Ford Transits, and, in Rivers' case, a Cadillac Escalade with a raised roof. His needs were simple: a television and an HDMI input so he can hook up his computer. No fancy armor or recumbent exercise bicycle. His goal was to review game footage on his commute rather than slowly waste away behind the wheel of a car. Photos show a sea of leather and wood and a mini fridge, so it's not totally without niceties. Column | Philip Rivers' new ride allows him to stay home https://t.co/btwCEgIsFq pic.twitter.com/DHud3ho5UF — The Union-Tribune (@sdut) September 5, 2017 The Union-Tribune lists the price of the Escalade at about $200,000. That's not including the driver's salary. In 2015, Rivers signed a four-year deal with the Chargers worth $84 million, so he's not hurting for cash. If it increases productivity and saves the headache of being behind the wheel in traffic, we can imagine more people with means (and not just quarterbacks) will be opting for such daily transport. Related Video: