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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.

MotorWeek looks back at 1995 Chevy Tahoe, GMC Yukon

MotorWeek's Retro Review series gives us a nostalgic look back at some of the best sports cars and luxury sedans available in the 1980s and '90s. For its latest clip, the show shifts gears to remember the 1995 Chevrolet Tahoe and GMC Yukon. Similar to the success of crossovers today, SUVs were tallying big sales and making big money for automakers in the mid-'90s. The Tahoe and Yukon filled slots in the market as steps down from the larger Suburban. These twins weren't wanting for space, though, with plenty of room to haul around a family. MotorWeek came away generally impressed too, and called the models some "of the better riding sport utilities we've ever experienced." This review comes with some jazzy, electric guitar licks to enjoy in the background.

Chevy, Kia and Jeep win 2020 North American Car, Utility and Truck of the Year

Although the Detroit Auto Show is moving to the summer, the North American Car, Utility and Truck of the Year (NACTOY) awards were again announced in January. The car of the year is the 2020 Chevy Corvette Stingray. Utility of the year is the 2020 Kia Telluride. Truck of the year is the 2020 Jeep Gladiator. None of these choices was particularly surprising. All of these cars were major releases that delivered on style, performance and functionality. That being said, the runners-up in each category were noteworthy, too. You can see the full list of finalists below. Car Chevy Corvette (Winner) Toyota Supra Hyundai Sonata Utility Kia Telluride (Winner) Hyundai Palisade Lincoln Aviator Truck Jeep Gladiator (Winner) Ford Ranger Ram HD Follow any of the inline links above to read our reviews on the winners and finalists. Related Video: