2011 Cadillac Cts Coupe 2dr Cpe Performance Rwd 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.

Meet the other Cadillac wagon. It's as American as ABBA

The Cadillac CTS Wagon became a cult classic the second it went on sale. We all knew that it was never going to sell in anything approaching significant numbers, and if that "we" didn't include those actually working at GM, one would have to wonder what they were smoking. Cadillac was still having a hard enough time trying to convince people that it was now a BMW-fighting sport luxury brand rather than the purveyor of Grandpa-piloted land yachts. To many, a sport sedan like the CTS seemed like a stretch. But a CTS sport wagon? It sure seemed like GM was just doing things for funzies, an impression only enhanced by the CTS-V Wagon. Forget cult classic. That thing was an instant legend.  And yet, the CTS wasn't the only Cadillac of that era offered as a wagon. It wasn't even the first. Before GM said "to hell with it, let's have some fun" on this side of the pond, over in Europe, it had already taken a page from its old badge-engineering playbook to create the 2006 Cadillac BLS Wagon. It was available as a sedan, too, but its awkward majesty is best enjoyed as the long-roof model.  There's just something off about the whole thing, right? That's probably because it also looks vaguely familiar, as if you've seen it before. So where the hell does this thing come from? Sweden! Behind that Cadillac Art and Science face is a Saab 9-3, and in the case of the BLS Wagon, the Saab 9-3 Sport Combi wagon. The roofline is the dead giveaway, as no other wagon has ever looked like that. In fact, the roof and windows were the only exterior elements to copy directly over from 9-3 to BLS. No kidding. With the Cadillac front end, doesn't the Saab-funky-boxiness make it look like a miniature hearse? The answer is yes. GM's design team, led by Ed Welburn, was quite pleased with his work. Perhaps it even egged him on to create a real Cadillac sport wagon? "The whole team was very excited to apply Cadillac's design language to a wagon for the first time," said Welburn in a press release from the time. "The V-shaped chrome-plated grille, a Cadillac hallmark, is picked up again by the shape of the rear window, and the body side character lines make it unmistakably a Cadillac." The interior is surprisingly different from the 9-3, including the ignition switch migrating from the center console up to the steering column. It also wasn't exactly in keeping with the Cadillac norm of the time.

Junkyard Gem: 1987 Cadillac Cimarron

The General's Cadillac Division hit its all-time sales record during the 1973 model year, with 304,839 cars sold. Then the OPEC oil embargo in the fall of that year caused oil prices to triple, while simultaneously accelerating several negative trends in the American economy. In the aftermath, sales of imported luxury cars surged, the President resigned, the communists conquered South Vietnam, and Cadillac introduced a compact car based on the proletariat Chevrolet Nova. Sales of those Sevilles — which cost better than triple the price of their Nova siblings — proved strong, and so it seemed to make sense to create a Cadillac-ized version of the Nova's replacement: the front-wheel-drive Chevrolet Cavalier, which debuted for the 1982 model year. Thus was the Cadillac Cimarron born, and that's what we've got for today's Junkyard Gem. The Cimarron stayed in production for the 1982 through 1988 model years, but sales were strongest for the first few years and so the 1982-83 cars make up the bulk of my Cimarron junkyard finds. This very clean '87 in a Denver-area yard is a rare late-production car. Although the Cimarron was by far the swankiest GM J-Body ever made, its Cavalier ancestry was unmistakable. While the Nova-based Seville caused some grumbling over the cheapening of the Cadillac brand, the Cimarron inspired widespread anger and loathing among those who love cars. Even with a leather interior and nice audio system, the Cimarron still caused pain to its owners who saw cheapo Cavaliers (and Pontiac J2000s and Olds Firenzas) looking nearly identical at a glance yet costing far less. In 1987, the list price on a new Cimarron started at $15,032 (about $35,550 in 2021 dollars). The cheapest Cavalier listed at $7,255 that year, though the loaded Cavalier RS sedan with V6 engine started at $9,159. For 1982 through 1986, the base powertrain in the Cimarron consisted of a 1.8-liter or 2.0-liter four-cylinder — yes, the same double-digit-horsepower engines that went into Cavaliers — paired with a four- or five-speed manual transmission. The 2.8-liter V6, rated at 125 horses, was an option in those cars and became standard equipment in the 1987 and 1988 Cimarrons.