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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.

2021 Chevy Tahoe, GMC Yukon fuel economy and towing capacities go official

Most of the puzzle pieces have fallen into place with GM’s new full-size SUVs, but today we have fuel economy and towing to add to the picture. Numbers for the standard 5.3-liter V8 and upgrade 6.2-liter V8 are out, but GM has held back on the 3.0-liter turbodiesel inline-six for the time being. Those numbers are most likely not ready yet. Minor improvements and decreases are seen throughout the Tahoe/Suburban and Yukon/Yukon XL lineup. Because there are so many variants, weÂ’re going to just lay them out below for you. 5.3-liter V8 2021 Tahoe/Yukon 2WD: 16/20/18 2021 Tahoe/Yukon 4WD: 16/20/18 2021 Suburban/Yukon XL 2WD: 16/20/18 2021 Suburban/Yukon XL 4WD: 15/19/17 6.2-liter V8 2021 Tahoe/Yukon 2WD: 15/20/17 2021 Tahoe/Yukon 4WD: 14/19/16 2021 Suburban/Yukon XL 2WD: 15/20/17 2021 Suburban/Yukon XL 4WD: 14/19/16 As you can see, there isnÂ’t a whole lot of difference between two-wheel drive and four-wheel drive options. You can eke out an extra mpg here and there, but itÂ’s a penalty weÂ’d be happy to live with to have four-wheel traction. The biggest loser in all of this is highway mpg. Chevy has made the trucks bigger and added weight with the independent rear suspension, causing a decrease in fuel economy. For example, a 2020 Tahoe with the 6.2-liter V8 and four-wheel drive is rated at 14/22/17. The 2021 truck drops 3 mpg on the highway and 1 mpg in the combined rating. There are improvements to be found, though. A 2020 Suburban with the 5.3-liter V8 and four-wheel drive is rated 14/21/16. Fuel economy in the city goes up 1 mpg, but you lose 2 mpg on the highway and 1 mpg in the combined rating. ThereÂ’s a bit of give and take here, but at least a slight increase in city mpg has accompanied the greater loss in highway fuel economy. 2021-chevy-tahoe-chicago-01 View 12 Photos As for towing, the Tahoe/Yukon with the 5.3-liter V8 and two-wheel drive has a new 7,900-pound capacity, and the four-wheel drive model is rated at 7,700 pounds. Respectively, those are the best figures youÂ’ll get with the standard towing capacity. Opt for the maximum towing package, and the Tahoe/Yukon capacities go up to 8,400 pounds (two-wheel drive) and 8,200 pounds (four-wheel drive). The numbers all take slight cuts when you go for the 6.2-liter V8. Both the Suburban and Yukon XL offer similar or identical towing figures as their shorter counterparts do.

24 Hours of Le Mans live update part two

We tasked surfing journalist Rory Parker to watch this year's live stream of the 2016 24 Hours of Le Mans. What follows is an experiment to experience the world's greatest endurance race from the perspective of a motorsports novice. Parker lives in Hawaii and can hold his breath longer than he can go without swearing. For Part One, click here. Or you can skip ahead to Part Three here. I write about surfing for a living. If you can call it a living. Basically means I spend my days fucking around and my wife pays for everything. Because she's got a real job that pays well. Brings home the bacon. Very progressive arrangement. Super twenty first century. I run a surf website, beachgrit.com, with two other guys. It's a strange gig. More or less uncensored. Kind of popular. Very good at alienating advertisers. My behavior has cost us a few bucks. I'm terrible at self-censorship. Know there's a line out there, no idea where it lies. I still don't understand any of the technical side. Might as well be astrophysics or something. For contests I do long rambling write ups. They rarely make much sense. Mainly just talk about my life, whatever random thoughts pop into my head. "Can you do something similar for Le Mans?" "Sure, but I know absolutely fuck-all about racing." "That's okay. Just write what you want." "Will do. But you're gonna need to edit my stuff. Probably censor it heavily." So here I am. I spent the last week trying to learn all I can about the sport of endurance racing. But there's only so much you can jam in your head. And I still don't understand any of the technical side. Might as well be astrophysics or something. While I rambled things were happening. Tracy Krohn spun into the gravel on the Forza chicane. #89 is out of the race after an accident I missed. Pegasus racing hit the wall on the Porsche curves. Bashed up front end, in the garage getting fixed. Toyota and Porsche are swapping back and forth in the front three. Ford back in the lead in GTE Pro. #91 Porsche took a stone through the radiator, down two laps. Not good. The wife and I are one of those weird childless couples that spend way too much time caring for the needs of their pet. French bulldog, Mr Eugene Victor Debs. Great little guy. Spent the last four years training him to be obedient and friendly. Nice thing about dogs, when you're sick of dealing with them you can just lock 'em in another room for a few hours. You don't need to worry about paying for college.