2010 Chevrolet Malibu Ls on 2040-cars

Auto blog

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.

Check out the official 2013 Trans Am Hurst Edition commercial

The Poncho is dead. Long live the Poncho. Like certain other reoccurring personal maladies, the aftermarket community simply can't let the Trans Am go without another flare up. The guys at Trans Am Depot have worked up a quick commercial for their newest creation: The 2013 Trans Am Hurst Edition, and it watches pretty much like you'd expect it to. The footage is comprised of just about every TA male fantasy you can conceive of, from Daisy Dukes and white tank tops to tramp stamps, bikinis and ice cream cones. There simply aren't words for what you'll see below.
Of course, we like our T-Tops as much as the next guy. If you like what you see in the videos, you can pick up your very own TA by heading over to the Trans Am Depot site. The guys even have Chevrolet Camaro-based versions of the Pontiac GTO if the '77 TA treatment is too much for your tastes. Enjoy, but don't say we didn't warn you.

2016 Chevrolet Camaro: Notes from the reveal

The 2016 Chevrolet Camaro debuted Saturday evening in Detroit at an enthusiast-oriented event near the city's IndyCar course. While the big news was the Camaro's 200-pound weight loss, tighter chassis, and a snorting new V8, plenty of other morsels of Camaro info came out. Here's some of the more interesting stuff we heard. • The 2.0-liter inline four-cylinder is the first turbocharged engine in a Camaro. • The LT1 borrowed from the Corvette Stingray marks the third time a Camaro has used an engine with that badge. It was previously used in 1970-72 (Z/28), 1993-97 (Z/28), and 1996-97 (SS). • The Camaro was revealed in a tent before nearly 1,000 enthusiasts, General Motors executives (including CEO Mary Barra) and mere feet from the Grand Prix course where IndyCars will run in two weeks. • Chevy hopes to continue to attract new customers with the Camaro and said 63 percent of the fifth-generation buyers were new to the brand. • GM product boss Mark Reuss neatly summed up the Camaro's handling character. "It's wicked fast and extremely nimble." • Reuss on the design goal: make it "look like a car for tomorrow instead of a car from yesterday." • Reuss' first car was a 1967 Camaro, and he's reiterated his passion for the car. "People want to be seen in a Camaro, and that never goes away." • Chevy North America president Alan Batey said he plans to line up a red Camaro as soon as the order bank opens. We assume he'll have early access to that. • Though the appearance is similar, the sixth generation of the Camaro appears a little sleeker and is more aerodynamic thanks to 350 hours in the wind tunnel. Only two parts, the SS badge and the rear bow-tie emblem, are carryover. • Al Oppenheiser, the Camaro's chief engineer, said most of the options (except Magnetic Ride Control, which is SS exclusive), will be offered on the inline four. The engine will be capable of propelling the Camaro to a sprint to 60 miles per hour in well under six seconds. "We don't want to ... make it feel like an excuse car," he said. • Without revealing specifics, Oppenheiser said every Camaro variant will be faster than the model it replaces. •The interior is vastly improved. We got an up-close look in the cabin of one of the cars revealed with a red and white layout, and the materials are much better. The setting is more colorful, and 24 different ambient lighting shades are available. Related Video: