1998 Buick Regal Ls, One Family Owned, A Lot Of Car For The Money 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.

Junkyard Gem: 1990 Buick Reatta Coupe

During the 1980s, General Motors worked hard to woo back American car shoppers who had defected to European luxury brands. Swanky interiors, futuristic electronics and Europe-influenced styling found their way into quite a few GM models during the second half of the decade. Pontiac had the 6000 STE, Oldsmobile offered the Toronado Trofeo, Cadillac sold the Turin-Hamtramck-built Allante, and Buick produced the sporty Reatta two-seater. Just under 22,000 Reattas were built during the 1988 through 1991 model years, and today's Junkyard Find is the fifth example I've found during my junkyard travels. The Reatta was the most expensive 1990 Buick, priced at $28,335 for the coupe and $34,995 for the convertible (or about $65,895 and $81,380 in inflation-adjusted 2022 dollars).  For that kind of money, American car shoppers in 1990 could get a BMW 325i in coupe or convertible form for $24,650 or $33,850. They could get a Saab 900 Turbo convertible for $32,995 or an Audi Coupe Quattro for $29,750. Each of those European competitors had sophisticated overhead-cam engines and grippy suspensions, but the Reatta was built on a shortened version of the chassis that went under the Barcalounger-esque Buick Riviera and its engine was the old-timey pushrod Buick V6. The 3.8-liter Buick V6 had been made quite reliable and acceptably smooth by the time this car was built, and it made 165 horsepower (just three fewer than the BMW 325i), but Buick salesmen didn't have much to brag about when showing this engine compartment to a 35-year-old youngster who had just driven a Saab 900 Turbo. The antiquated engine was problem enough, but the lack of a manual transmission served to chase off additional potential buyers. A four-speed automatic was mandatory in every Reatta. Just in case some traditional (i.e. Greatest Generation members) Buick customers might consider this glamorous two-seater, Buick scared them off with the Reatta's video-game-style digital dash and its way-ahead-of-its-time Graphics Control Center touchscreen interface. You can't win! The Graphics Control Center hardware has been grabbed from this dash (the components also fit optioned-up Rivieras and Trofeos of the same era, so junkyard shoppers pull them for resale). Naturally, a Reatta owner would want a hardwired car phone. If you really wanted to be cool in the early 1990s, you bought a Chrysler product with the amazing VisorPhone.

A car writer's year in new vehicles [w/video]

Christmas is only a week away. The New Year is just around the corner. As 2014 draws to a close, I'm not the only one taking stock of the year that's we're almost shut of. Depending on who you are or what you do, the end of the year can bring to mind tax bills, school semesters or scheduling dental appointments. For me, for the last eight or nine years, at least a small part of this transitory time is occupied with recalling the cars I've driven over the preceding 12 months. Since I started writing about and reviewing cars in 2006, I've done an uneven job of tracking every vehicle I've been in, each year. Last year I made a resolution to be better about it, and the result is a spreadsheet with model names, dates, notes and some basic facts and figures. Armed with this basic data and a yen for year-end stories, I figured it would be interesting to parse the figures and quantify my year in cars in a way I'd never done before. The results are, well, they're a little bizarre, honestly. And I think they'll affect how I approach this gig in 2015. {C} My tally for the year is 68 cars, as of this writing. Before the calendar flips to 2015 it'll be as high as 73. Let me give you a tiny bit of background about how automotive journalists typically get cars to test. There are basically two pools of vehicles I drive on a regular basis: media fleet vehicles and those available on "first drive" programs. The latter group is pretty self-explanatory. Journalists are gathered in one location (sometimes local, sometimes far-flung) with a new model(s), there's usually a day of driving, then we report back to you with our impressions. Media fleet vehicles are different. These are distributed to publications and individual journalists far and wide, and the test period goes from a few days to a week or more. Whereas first drives almost always result in a piece of review content, fleet loans only sometimes do. Other times they serve to give context about brands, segments, technology and the like, to editors and writers. So, adding up the loans I've had out of the press fleet and things I've driven at events, my tally for the year is 68 cars, as of this writing. Before the calendar flips to 2015, it'll be as high as 73. At one of the buff books like Car and Driver or Motor Trend, reviewers might rotate through five cars a week, or more. I know that number sounds high, but as best I can tell, it's pretty average for the full-time professionals in this business.