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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.

Beast mode on the open road: New presidential limo close to delivery

Signs of the Beast have been seen on the open roads around Milford, Mich., home of GM's Proving Grounds. The Beast, in this case, being the nickname for the next-generation presidential limousine. We've seen this car previously in spy shots while parked or driven, going back to January 2016. This is our spy photographers' latest look at the vehicle, and the first on public roads. Which may be a sign that it is almost ready for delivery. It replaces the current Beast, which has been in use since 2009. And "car" isn't exactly the right word for this rig, as it's actually a unique vehicle with Cadillac styling cues custom-built atop a medium-duty truck frame. There may possibly be more than one Beast 2.0 delivered, because two limos are sent anywhere the president goes, to provide a backup or decoy. The grille has touches of the Cadillac Escala concept car, which is heavily influencing Cadillac's evolving future look. But it's what's inside that intrigues everyone. Here's what we know, or at least has long been rumored, about the current Beast and the new Beast 2.0. 1. It has its own airplane. It and its twin follow the president around the globe aboard a C-17 Globemaster cargo plane. 2. It's heavily armored, with 5-inch-thick glass, 8-inch-thick doors that weigh as much as a commercial aircraft door, and its components include titanium, ceramics, and a bombproof plate that covers the underside. As such, the old Beast was estimated to weigh between 14,000 and 20,000 pounds. You can therefore imagine how it got its name. 3. It's equipped like the Batmobile or the Green Hornet's Chrysler Imperial Crown, with run-flat tires and night-vision gear. It can fire gas canisters out the front bumper. 4. It has a diesel engine because of its weight and size (see the gallery below for a sense of scale). And of course, diesel is less flammable in a firefight. The old Beast supposedly gets 8 mpg. 5. Its Secret Service codename is Stagecoach. 6. There's a shotgun by the driver and God-knows-what in the trunk. 7. It supposedly has a stock of blood in the president's type, along with a defibrillator and other emergency gear. 8. And it's pretty nice inside, by all accounts. Since this is not Trump's own personal vehicle and may well serve his successor, let's assume the gold leaf has been kept to a minimum and it's done up in tasteful leather and wood. But then again, who really knows, outside of the Secret Service and a handful of GM engineers.

Want to beat LA traffic? Chargers QB Philip Rivers has found a way

Slogging through traffic in Southern California is about as pleasurable as being slowly eaten by bears or being the awkward third wheel on a bad first date. It feels like it's never going to end. After the team relocated to Los Angeles from San Diego, Chargers quarterback Philip Rivers decided that three hours wasted each day in a car was too much. As The San Diego Union-Tribune reports, Rivers' rolling office makes his days more productive than ever. After deciding that he wasn't going to relocate his family to Orange County, Rivers was stuck with the prospect of either spending considerably less time with his children or skipping out on much-needed film work at the team's training facility (not really an option given his profession). Instead, he began investigating a number of options to make his lengthened commute slightly more viable and productive. First, he considered carpooling with a teammate. That was still too much of a pain. He looked at flying a helicopter, but unless it could land close to both his home and the practice field, it too was useless. A quick online search eventually led to the rolling footage review room you see here. Becker Automotive Design in Oxnard, Calif., builds these rolling offices for a wide range of customers. It sells modified Mercedes-Benz Sprinters, Ford Transits, and, in Rivers' case, a Cadillac Escalade with a raised roof. His needs were simple: a television and an HDMI input so he can hook up his computer. No fancy armor or recumbent exercise bicycle. His goal was to review game footage on his commute rather than slowly waste away behind the wheel of a car. Photos show a sea of leather and wood and a mini fridge, so it's not totally without niceties. Column | Philip Rivers' new ride allows him to stay home https://t.co/btwCEgIsFq pic.twitter.com/DHud3ho5UF — The Union-Tribune (@sdut) September 5, 2017 The Union-Tribune lists the price of the Escalade at about $200,000. That's not including the driver's salary. In 2015, Rivers signed a four-year deal with the Chargers worth $84 million, so he's not hurting for cash. If it increases productivity and saves the headache of being behind the wheel in traffic, we can imagine more people with means (and not just quarterbacks) will be opting for such daily transport. Related Video: