2004 Gmc Envoy 54,000 Miles on 2040-cars

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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.

GMC Terrain's first generation could get recalled for headlights

According to Car Sales Base, GMC sold 745,454 Terrain crossovers from the end of 2009 to the end of 2017, all but a few of them representing the first-generation model years of 2010 to 2017. According to the National Highway Traffic Safety Administration, the carmaker will need to recall almost all, due to a problem with excessively bright headlight reflections. NHTSA takes issue with the fact that federal motor vehicle regulations stipulate how bright headlight reflections are allowed to be within a certain arc of the headlight beam axis. In a certain area of the arc, the Terrain throws two small spots of light that are about 450 to 470 candela strong where the legal maximum at that point is 125 candela — one candela being equivalent to the light from one candle. The NHTSA wants the headlights replaced for being close to four times over this reflective limit, alleging this can cause "glare to other motorists driving in proximity." GM discovered the noncompliance in 2019, then filed a notice of noncompliance that requested an exemption from having to recall the crossover. GM's counterpoint to NHTSA was that the two areas of illegality were 80 degrees outboard of the headlight and 45 degrees up. You'd have to be Slenderman or a giraffe standing on the side of the road — our words, not GM's — to be blinded by the light. The automaker hadn't heard of any incidents nor complaints over the issue. The only customer feedback GM received was a Terrain driver saying the "left headlamp seems to have a portion of the light that shines up in the trees at near a 45-degree angle." Note, that's the left headlight, so the tree in question would likely be on the other side of the road. GM said oncoming traffic wasn't impaired by the excessive brightness. Due to these these mitigating factors, GM asked for an exemption from recalling the Terrains.    This week, NHTSA denied GM's petition.

Junkyard Gem: 1990 GMC S-15 Jimmy 4x4

The General sold the GMC-badged version of the first-generation Chevy S-10 Blazer, known as the S-15 Jimmy or just the Jimmy, from the 1982 through 1994 model years. These trucks were based on the small S-10 pickup and sold well (until small trucks were forced to get bigger and less truck-like after the dawn of the Ford Explorer-inspired commuter-truck era), but they have become difficult to find in vehicle graveyards in our current century. Here's a '90 Jimmy 4x4 with red-primer paint job, found in a self-service yard on California's Central Coast last month. GMC shoppers could get the 1990 Jimmy as a rear-wheel-drive truck, but this one has the four-wheel-drive option that allowed Tahoe-bound skiers to skip the chain monkeys on the way to the slopes (the CHP, understanding that California drivers have a 95% mortality rate on snow or ice, requires chains or four-wheel-drive to get over Donner Pass when there's a hint of snow forecast). GM sold so many millions of small-block Chevrolet V8s that it made economic sense to use the same tooling to produce a V6 version. The result was this truck's 4.3-liter V6 that was three-quarters of the good old Chevy 350 (5.7-liter) V8 that powered so many Camaros, Chevelles and Impalas. The 4.3 didn't make smooth power, but it got the job done and held together quite well. This one was rated at 160 horsepower, good enough for the Jimmy 4x4's 3,512-pound curb weight. These days, though, used-truck shoppers insist on at least two tons of heft plus four doors. Some discount lot in Monterey or Salinas couldn't even get $999 for this truck, and so it ended up in the final stop before the cold steel jaws of the crusher. 1990 was the last model year for the two-door-only Jimmy; for 1991, the Jimmy came with a choice of two doors (for devil-may-care types) or four doors (for drop-the-kids-at-school types). I've always liked the look of the instrument panels on the early S-10s and its siblings; even though the designers had to work within strict budgetary limitations, they made the panels look interesting. This truck nearly made it to 170,000 miles before the end. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. So powerful with the 4.3 (the regular S-15 pickup still came with a 2.8-liter V6 as base equipment) that it could destroy a TV camera.