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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.

Lexani Motorcars unveils plans for 2021 Cadillac Escalade Mobile Offices

Lexani Motorcars is an aftermarket shop that specializes in high-end luxury customizations for a variety of large SUVs and vans. The Corona, Calif. company aims for business-class-type vehicles, rather than "Pimp My Ride" hack jobs, and has recently been working on 30-inch extended mobile office conversions, among other projects. Up next: the 2021 Cadillac Escalade. Lexani Motorcars, not to be confused with Lexani wheels, took to Instagram to show off a vision for a custom office setup for the new-generation 2021 Escalade. Cadillac's large SUV would be extended by 30 inches and outfitted with a plethora of over-the-top luxury options. Lexani's most extreme additions include armoring, but their toys don't have to be that serious. The most immediately noticeable feature in the Escalade is the starlight headliner. Similar to what's seen in certain modern Rolls-Royces, the starry ceiling is not necessarily a new feature for Lexani Motorcars, but the design has evolved. This most recent interpretation looks like it has a specialized design, possibly one that mimics a real part of the sky.  The Mobile Office includes four massive captain's chairs, each of which has motorized functionality and quilted leather. In between each set of seats is an integrated iPad tablet, and more are seen built into the walls of the SUV. Each seat also has a fold-out desk and foot rests for reclining.  Furthermore, the Mobile Offices include hideaway big-screen TVs that pop up behind the rear seats. Other options include satellite, curtains or shades for the windows, custom trim pieces made out of high-end materials such as carbon fiber or real metals, cooled storage for drinks, and storage compartments for libation stemware. Lexani Motorcars does not list a price, as each car is configured per the customer, and it does not mention when the new Escalades will become a reality. The Escalade was originally estimated to launch in late 2020, but it's unclear whether or not that will be affected by the current production stoppages due to coronavirus.           View this post on Instagram                   Now accepting pre-orders on 2021 Escalade Mobile Offices ? Inquiries: info@lexanimotorcars.com A post shared by Lexani Motorcars (@lexanimotorcars) on Mar 23, 2020 at 3:22pm PDT           View this post on Instagram                   Look forward to rush hour?

Akerson says Cadillac will get a larger sedan within two years

It seems that during a recent affair showing off the 2014 Cadillac CTS, General Motors CEO Dan Akerson confirmed reports regarding a new Cadillac flagship sedan. According to USA Today, which Akerson was visiting, he said that a sedan larger than the XTS would debut within the next two years.
This matches up with what we heard earlier in the month about a Cadillac model that will go up against the BMW 7 Series and Mercedes-Benz S-Class (not a pricier, low-volume sedan also discussed in that article). But this is the first time a high-profile executive name has been attributed to such a report, and the first time a broad timeframe has been mentioned. This article adds that the unnamed car will be rear-, and all-wheel drive with a platform "loosely based" on the new CTS, with styling closer to that car than recent Cadillac concept vehicles. The XTS will continue production of course, as well.