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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.

Chevrolet Malibu gets aggressive redesign for 2016

Cars like the Ford Fusion, Kia Optima and Chrysler 200 have recently raised the styling bar in the midsize sedan game is. In that regard, the rather anonymous Chevrolet Malibu has suffered in recent years. That no longer appears to be an issue with the 2016 Malibu, which is simply caked with interesting elements. The wide, aggressive grille, expressive headlights and angled LED running lamps make the Malibu look like the Impala's much angrier little brother. In back, the Impala inspiration is there, but like the fascia, it's noticeably more aggressive, with a sharper cant to the taillights and a pair of large, integrated dual exhausts (at least on the 2.0-liter, turbocharged model being featured by Chevy). Designers also worked to give the 'Bu a bit more character in the profile, adding a pair of character lines to cut back on the last-gen car's slab-sided looks. While the exterior could almost be described as sporting, the brown-and-beige color scheme in the cabin is noticeably more relaxed. A large, central MyLink system sits atop the dash, while drivers will also have access to a dedicated display in the instrument cluster. A thick-rimmed, three-spoke steering wheel is a bit on the large side, but still looks like a nice piece to work. You can read a lot more about the new 2016 Malibu in our original post from early this morning. But before you do that, have a look at our full gallery of live images from the floor of the Javits Center. All-New Malibu is Larger, More Technological and Efficient New hybrid sedan projected to offer combined rating north of 45 MPG DETROIT – Chevrolet today introduced the all-new 2016 Malibu – a completely restyled midsize sedan engineered to offer more efficiency, connectivity and advanced safety features than ever. An all-new hybrid powertrain, which leverages technology from the Chevrolet Volt, will help offer a GM-estimated combined rating north of 45 mpg. The Malibu's standard 1.5L turbo powertrain is projected to offer 37 mpg highway. The 2016 Malibu is also longer and lighter, with more interior space and improved fuel efficiency. Its wheelbase has been stretched close to four inches (101 mm), and it is nearly 300 pounds (136 kg) lighter than the current model. "Midsize customers tell us they want great fuel economy, connected technologies, wrapped in a gorgeous exterior. This is exactly what the 2016 Malibu was engineered to do," said Jesse Ortega, Malibu chief engineer.

Chevy gives Camaro Red, Black Accents for SEMA

Just the other day, Chevy announced a series of modified show cars it's planning to bring to SEMA this year. Now it has revealed full details on what could prove the most enticing among them in the form of a pair of Camaros. These new Red Accent and Black Accent editions are based on the new, sixth-generation 2016 Camaro SS. The former starts out as a Camaro SS convertible, done up in silver with red trim inside and out. It's got a leather interior, custom grille, hash-mark fender graphics, blacked-out bowtie badge, and 20-inch alloys. Even the engine is visually enhanced with a red cover. While it was at it, Chevy also dropped the suspension and fitted a new air intake and Brembo front brakes. Joining it is the Black Accent concept, based on a red Camaro SS coupe. As its name suggests, it's got a blacked-out aero kit, bowtie badge, and fuel cover, along with darkened tailllamps and satin black stripes. It also gets a black leather interior and its own set of 20-inch wheels, along with the aforementioned lowering kit, Brembo front brakes, air intake, and red engine cover. The Accent concepts are designed to showcase the extent of the accessories Chevy is offering for the new Camaro, and will be showcased at SEMA alongside modified versions of the Spark, Trax, Malibu, Colorado, and Sierra. Feel free to scope out the gallery above and the details in the press release below. Related Video: 2016 Camaro SS Concepts Designed to Inspire Red, Black Accent cars showcase new accessories, preview production packages DETROIT – Chevrolet introduced two customized 2016 Camaro SS concepts that illustrate the possibilities enabled by the new portfolio of Gen Six Camaro accessories and performance parts. Dubbed Red Accent and Black Accent for their respective design themes, each uses components Chevrolet will offer during the first model year of the new Camaro. "These are great-looking examples of what customers can do to personalize their new Gen Six Camaro," said Roger McCormack, director, Accessories & Performance Parts Marketing. "This will be the largest-ever portfolio of Camaro accessories and performance parts.