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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.

CES 2022 was huge for EVs | Autoblog Podcast #711

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. CES took place this week, and there were some nice electric surprises from automakers, especially General Motors. John has been driving the Ram 1500 Power Wagon, as well as what seems to be its polar opposite, the electric Mini Cooper SE. Greg talks about the differences between the Acura TLX A-Spec long-termer (which is back in the shop) and the Type S loaner that's filling in for it. John's also got some interesting thoughts on leather interiors. Finally, the editors reach into the mailbag and help a repeat customer decide on a suitable replacement for a 2008 Lexus GX 470 in this week's Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #711 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown CES 2022 2024 Chevy Silverado EV revealed: 664 hp — and Midgate's back 2024 Chevy Silverado EV vs. 2022 Ford F-150 Lightning | How do they compare? Chevy Equinox EV and Blazer EV confirmed for production in 2023 Chrysler Airflow concept previews the brand's all-electric future Mercedes-Benz Vision EQXX shoots for 620-mile range Cadillac InnerSpace reimagines the personal luxury coupe What we're driving: 2022 Ram 1500 Power Wagon 2021 Acura TLX A-Spec and Type S long-termers 2022 Mini Cooper SE John's unpopular opinion: Let's do away with leather for good Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video:

2016 Chevy COPO Camaro wears drag to SEMA [w/video]

Attendees to this year's SEMA Show get to be the first to check out Chevrolet's latest COPO Camaro that's now based on the new, sixth-generation model. As before, they packs a bevy of racing modifications to rocket down drag strips across the country. All of the interested customers might not get one of these hand-built machines, though, because Chevy is sticking with the tradition of only building 69 of them for 2016. Devised to compete NHRA Stock and Super Stock Eliminator classes, the latest COPO Camaro features the lighter, more rigid platform of the sixth-gen model. Buyers can choose from an array of V8s for power, including a supercharged 350-cubic-inch engine, a naturally aspirated 427, or an LT-based 376. All of them come with a race-prepped Turbo 400 three-speed automatic, solid rear axle, and adjustable suspension. The COPO on display for SEMA wears custom styling from drag racer Courtney Force that combines a Red Hot and black color scheme with her name slashing across rear fender. This one also packs a concept 350-cubic-inch V8 with a 2.9-liter Whipple supercharger. If you're interested in owning it, the car will cross the auction block at a Barrett-Jackson sale in 2016, and the proceeds will go to the United Way. Related Video: CHEVROLET INTRODUCES GEN SIX COPO CAMARO Courtney Force-designed show car to be auctioned for United Way LAS VEGAS – With assistance from NHRA Camaro Funny Car driver Courtney Force, Chevrolet introduced the Gen Six COPO Camaro today at the SEMA Show. After visiting the COPO build center, Force collaborated with Chevrolet designers to create a custom appearance for the 2016 COPO Camaro SEMA show car. It will be auctioned at a Barrett-Jackson sale in 2016, with the proceeds going to United Way. Chevrolet will build 69 COPO Camaro race cars for 2016, extending the production legacy that began in 2012 with the fifth-generation Camaro. Like the previous editions, the new COPO Camaro is designed for NHRA's Stock and Super Stock Eliminator classes. "With the new Gen Six Camaro as its foundation, the 2016 COPO Camaro begins the next chapter of an historic racing legacy," said Jim Campbell, Chevrolet U.S. vice president of Performance Vehicles and Motorsports. "It's great to have Courtney Force on Team Chevy and to work with her on the design of the new COPO Camaro show car.