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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.

Ford Mustang Bullitt, Cadillac ATS-V and profitable car companies | Autoblog Podcast #559

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Joel Stocksdale and Contributing Editor James Riswick. They talk about being behind the wheel of the 2018 Cadillac ATS-V, 2019 Ford Mustang Bullitt and 2018 Nissan Kicks. They also discuss the week's news such as Tesla and Ford both having profitable quarters, better than people were expecting. Not only that, but they talk about how the Camaro may be changing in the near future, plus the potential of Jaguar electric cars. The podcast then finishes with a Spend My Money segment in which we Autoblog editors help a reader choose a car to buy.Autoblog Podcast #559 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2019 Ford Mustang Bullitt 2018 Cadillac ATS-V 2018 Nissan Kicks Tesla makes a profit Ford makes a profit Chevy has changes in store for the Camaro Electric Jaguars Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Podcasts Cadillac Chevrolet Ford Jaguar Tesla Coupe Performance cadillac ats-v ford mustang bullitt

2018 Cadillac CT6 Drivers' Notes | Super Cruiser

The 2018 Cadillac CT6 showcases General Motors' impressive Super Cruise feature. It's the next milestone on the way to an autonomous future, though GM is being conservative about promoting Super Cruise's considerable prowess. It helps the driver, GM says. Does it work? Our editors have been testing one this week as the calendar turns and the temperatures drop in Michigan. Also, the CT6 is a really nice car. Here's what we think. Senior Editor, Green, John Beltz Snyder: Super Cruise, man. On Wednesday night, I rode home in a 2018 Cadillac CT6 with Super Cruise. I say "rode," but I was sitting in the driver's seat. I spent more time with my hands off the steering wheel than on it. It was super relaxing. Once I got on the highway, I set the cruise control, waited for the steering wheel icon to show up on the instrument cluster, and hit the button on the steering wheel that looked like a steering wheel (pretty meta, to be honest). The top section of the wheel illuminated in a green arc, and I felt the weight of the steering lift as the car began driving itself. I put my feet flat on the floor, rested my hands on my knees, and just watched the road while listening to a podcast ("The Dollop," if you were wondering). To be honest, I had trouble concentrating on the audio, as my thoughts were captivated by the way the car managed the road and traffic around me. Sure, I had to change lanes on my own and take over steering on interchanges and surface streets, but when the AI took the reins, it had my complete confidence. Perhaps just as surprising, the CT6 was also a blast to drive manually. It felt super smooth, with plenty of power and poise. I enjoyed bending it through 50-mph curves almost as much as I enjoyed being driven. Almost. Editor-in-Chief Greg Migliore: Super Cruise just works. I was blown away how easy it was to use and how well it just did what it was supposed to do. Merging into the teeth of rush hour traffic in metro Detroit, I braced for the worst. I figured I'd be stuck in bumper-to-bumper gridlock and Super Cruise would never get deployed. Frankly, I was cynical Super Cruise would work. But then I was able to hit the 70-mph speed limit and figured, well, let's just see about this thing. Like John, I did the two-steps to set up SC, and boom, it worked. It trailed the cars in front of me at a proper distance. It braked naturally to a stop and then resumed speed. It slowed down when a Jeep Grand Cherokee cut me off.