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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.

2019 GMC Sierra 1500 prototype shows off differences from Silverado

Now that the new Silverado has made its debut, we're awaiting the reveal of its mildly restyled twin, the GMC Sierra 1500. While it likely won't be that different as far as capability and major equipment are concerned, we are looking forward to seeing what design changes it will have. Based on these recent spy shots, the changes will be mild, but still enough to make it visually distinctive. One of the more obvious differences will be in the front fascia treatment. Unlike the Silverado's grille that's level with the top of the headlights, the GMC's will rise above the lights, which will also yield a slight drop on each side of the hood to meet the lights. The grille is quite tall, extending far below the headlights, too. We can make out, behind some mesh, two dips on the outer edges of the grille that give the Sierra a more menacing frown. Large foglights are also found right near where the scoops for the wheel air curtains, and the headlights are unified on the edges, rather than split on the Silverado. Along the sides, the sheet metal looks relatively unchanged. At some angles, we can make out the distinctive shoulder line from the Silverado that runs up to about the rear mirrors where it stops to make room for another crease that rises up from somewhere in the middle of the front doors to lead to the front. The wheel arches are decidedly different from the Silverado's though. While the Silverado has fairly rounded arches, the Sierra's have a rear-slanted bevel to the fronts of the arches and a rounded 90-degree corner at the rears. There isn't much we can tell about the rear except for the taillights. They're quite large, and unlike the Silverado's, there aren't any areas where the sheet metal intrudes. It also appears that the tops of the taillights extend farther forward into the bed sides than the Chevy's. Because the Sierra has almost always been a mechanical twin of the Silverado, we expect it to offer the same 5.3-liter and 6.2-liter V8s, as well as the new 3.0-liter diesel inline-6. Also, being a GMC, it will likely have a flashy, chrome-laden Denali trim level. We also will see the fully revealed model soon, as Automotive News reports the debut will be on March 1. Related Video: Featured Gallery 2019 GMC Sierra 1500 spy shots View 39 Photos News Source: Automotive News Spy Photos GMC Truck chevrolet silverado

GMC boss wants a Jeep Wrangler rival

Challengers come and challengers go, but the Jeep Wrangler continues to push forward even after vehicles like the Toyota FJ Cruiser and the entire Hummer brand have been shut down. Now GMC reportedly wants to take a stab at the quintessential Jeep, as well.
The news comes directly from Buick-GMC vice president Duncan Aldred, speaking with our compatriots over at Edmunds. Although Aldred said there are no plans currently on the table to expand GMC's lineup beyond the current range, "there is plenty of room everywhere in the hierarchy."
That could include a rival to the Wrangler, as well as a flagship luxury SUV positioned above the current Yukon Denali (pictured above). Just when (or for that matter, if) such models might come into fruition remains a big question mark, but it's certainly interesting to see what GM's dedicated truck brand has on the drawing board.