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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.

GMC offers more 2024 Hummer EV SUV details, photos

GMC has shared more details about its 2024 Hummer EV SUV after its debut during the NCAA Final Four tournament. The SUV which follows the Hummer EV pickup, is smaller, more maneuverable and has a few features the truck doesn’t. GM says itÂ’s meant to strike a balance between off-road capability and on-road driving. GM also says Edition 1 reservations are already sold out. Compared to the truck, the Hummer SUV has a wheelbase about 9 inches shorter. With four-wheel steering, its turning circle is just 35.4 feet, which GM emphasizes is tighter than that of the Ford Mustang Mach-E (38.1 feet). ItÂ’s also less than the Hummer pickupÂ’s 37.1-foot turning circle. The SUV, which, at 196.8 inches long, is 20 inches shorter than the truck overall. It also features a much shorter rear overhang, at 35.5 inches. While thatÂ’s all helpful maneuvering through city traffic or suburban parking lots, it also provides advantages off-road. It has an approach angle of 49.6 degrees, a 49.0-degree departure angle and a 34.4-degree breakover angle. Suspension travel is 13 inches front and rear, with 16 inches of maximum ground clearance thanks to its Extract Mode that temporarily raises the vehicle to get out of tricky terrain. It can ford water 32 inches deep. It also features the same CrabWalk mode as the pickup. Available Ultravision provides 17 cameras, including underbody views to help navigate the trail. The Hummer SUV benefits from an enclosed cargo area behind the second row of seats. It still features the Infinity Roof with removable panels above the two seating rows to essentially turn the SUV into a convertible. At the rear is a swing-out tailgate that opens wider than the width of the vehicle. A spare tire rides on the tailgate as well. With the rear seats folded, cargo volume peaks at 81.8 cubic feet.  Additional hidden storage space is found below the recycled rubber floor mat, which features a design inspired by the moonÂ’s Sea of Tranquility (that's where Apollo 11 landed). As for technology, the Hummer SUV gets a 13.4-inch infotainment screen, plus a 12.3-inch instrument display in front of the driver. Fourteen cameras come standard, and the aforementioned Ultravision provides a total of 17 cameras, including a surround view. The MyGMC mobile app offers satellite rendered trail maps that can also help manage energy consumption off-road and make sure you have enough juice to make it to a charger when finished.

GM files for Z71 Trail Boss trademark

Try as they might to keep their plans a secret, automakers have their hands tipped through a variety of methods – be they through loose lips, spy shots or patent and trademark applications. That's how we know, in this instance, that General Motors is working on (or at least considering) an off-road machine wearing the name Z71 Trail Boss – the name which our compatriots at AutoGuide.com tell us that GM has registered for use on light-duty trucks. Now if that alphanumeric designator sounds familiar, it should. GM has long used it to designate the off-road packages on many of its body-on-frame trucks from Chevy and GMC. These days you can order a Z71 package on the Chevy Colorado, Silverado, Tahoe and Suburban and on the GMC Canyon, Sierra and Yukon. The package typically includes components like a beefed-up suspension bits, high-capacity air cleaner and underbody protection plates. The Trail Boss designator would seem to suggest something further reaching than a suspension package, though. Just what it would entail we don't know; minds immediately start running toward Chevy or GMC going after the Ford F-150 Raptor, but we'll likely be looking at something closer to the Trailhawk packages Jeep offers on the likes of the Renegade and Cherokee. Featured Gallery 2015 Chevrolet Tahoe Z71 View 16 Photos News Source: AutoGuide.comImage Credit: Chevrolet Chevrolet GM GMC Truck SUV Off-Road Vehicles patent trademark