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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 FNR is a sharp vision of the future in Shanghai

The Shanghai Motor Show is about more than just displaying the latest extended-wheelbase luxury sedans to the Chinese populace. Chevrolet is taking advantage of the event to debut its vision of the future of motoring with the FNR concept, and the capsule looks like it could be fresh from off the set of Blade Runner. The FNR imagines what a fully autonomous, electric vehicle might look like many years from now and is meant to appeal to young, Chinese consumers. The concept's design from the minds at GM's Pan Asia Technical Automotive Center does a pretty neat magic trick, too. Most times it's a mass of glass and curving lines that looks very sci-fi, but then the dragonfly doors open upwards to reveal some knife-edged angles in the styling, as well. As a cutting-edge concept, this capsule is also packed with futuristic tech. Power comes from magnetic hubless electric motors in each wheel, and it could charge wirelessly. Crystal lasers generate the headlights and taillights, and radar in the roof would allow scanning the surroundings for autonomous driving. The interior is similarly imaginative as the rest of the styling. Passengers are enveloped in blue light while sitting in mostly mesh chairs with huge bolsters. Keys have been done away with entirely in favor of iris recognition. Once on the road, the front seats even swivel around to more easily talk with rear passengers. Check it all out in the gallery above for a glimpse a Chevy's vision of what might be next. Related Video: Chevrolet-FNR and All-New Chevrolet Malibu Make Global Debut at Shanghai GM Gala Night 2015-04-19 SHANGHAI – Two Chevrolet models, the Chevrolet-FNR and all-new Malibu, made their global debut this evening at Shanghai GM Gala Night. They were joined by the Bolt EV concept and the 2015 Captiva, which made their China debut. The new models were introduced as Shanghai GM celebrates the 10th Anniversary of its Chevrolet brand in China. They will appear alongside 12 other models on the Chevrolet display at Auto Shanghai 2015, this year's leading auto show in China, which starts tomorrow. Chevrolet-FNR The Chevrolet-FNR is an autonomous electric concept vehicle that offers a glimpse at mobility of the future. It was developed in Shanghai by GM's Pan Asia Technical Automotive Center (PATAC) joint venture. Engineering, design and electrification teams drew on their past experience developing electric concept vehicles.

Why does the Corvette Stingray have so many vents? Here's why

Just looking at the new 2014 Chevrolet Corvette Stingray, it's not hard to see that the car's design was created with aerodynamics at the forefront, but Chevrolet designers point out exactly what went into designing the iconic coupe in a pair of recently released videos. The videos show the Corvette going through early design phases, including clay models and wind tunnel tests, as well as talking to the car's chief engineer, Tadge Juechter.
Both videos help explain various aspects of the C7 Corvette, but it's the aero tuning of the car that is most interesting. This includes extra attention paid to the lower air dam and vented hood to help reduce drag and lift, while the rear quarter inlets are for differential and transmission cooling. Juechter said that some of these aero-tuned elements were inspired from GM's involvement in racing.
If you have about five minutes and you can't get enough information about the new 'Vette, then check out the videos posted below.