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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.

Chevy Colorado configurator goes live as GM touts fuel efficiency

While the news of today is destined to be dominated by a certain plucky Japanese roadster, props to Chevrolet and GMC for announcing its own significant bit of news about their newest pickup twins, the midsize Colorado and Canyon. The two GM-owned brands announced that the twins' 3.6-liter V6 will return up to 26 miles per gallon on the freeway.
To get such efficiency from the 305-horsepower mill, you'll need to live without four-wheel drive and be okay with a max city fuel economy of 18 mpg. The combined rating for the 2WD model sits at 21 mpg. Adding four-wheel drive drops the city and combined ratings by one mpg, while the highway rating dips from 26 to 24 mpg.
As for the twins' eagerly anticipated 2.8-liter diesel engine, it's destined for model year 2016, meaning we've got a ways to go before its efficiency and output are certified.

GMC SIerra Denali is ready to live the high life

Between the information for the 2014 Chevrolet Silverado High Country and the accidently leaked picture on GMC's consumer site, it didn't take much imagination to envision what the 2014 GMC Sierra Denali would be like. But here it is. Going on sale this fall, the 2014 Sierra Denali will continue to be the most luxurious pickup truck in the General Motors portfolio, while getting more power and technology than ever before.
Like previous models, the 2014 Sierra Denali stands out from lower Sierra models with a big cheese-grater chrome grille, 20-inch chrome wheels and body-color bumpers. Inside, the Denali gets plenty of leather with contrasting stitching, but this is where GMC really steps up from the Silverado High Country with real aluminum trim and a new customizable eight-inch driver display in the gauge cluster. Standard features will include heated and cooled front bucket seats, the Intellilink infotainment system with Bose audio, while the options list offers a Driver Alert Package (with forward collision alert and lane departure warning), a rear-seat entertainment system and a Z71 Off-Road Package.
As for power, the standard engine will be the 5.3-liter EcoTec3 V8 with its 355 horsepower, and the optional engine will be the new 6.2-liter V8. Although official power figures for the bigger engine aren't in yet, GM is finally putting some estimates on paper expecting around 420 horsepower and 450 pound-feet of torque to go with a 12,000-pound towing capacity. The new Sierra Denali will be available in either two- or four-wheel drive. Scroll down for more details listed in the official press release.