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Movie Review: Black Air: The Buick Grand National Documentary

As Buick currently claws and scratches its way back into relevance to compete against luxury brands like Lexus and Acura, it's hard to believe that not too long ago, the brand had a car that was mentioned in the same breath as Corvette, Lamborghini and Ferrari. That car? None other than the Buick Grand National. All black with a turbocharged V6 and some of the quickest acceleration of its time, the Grand National, in today's standards, is along the lines of a 2013 Shelby GT500 with both cars essentially being a working man's supercar.
The last Grand National rolled off the assembly line in Flint, MI on December 11, 1987, and to mark the silver anniversary of that somber occasion, Black Air is a documentary of the Grand National from the perspective of the enthusiast, the collector, the media and even from those at General Motors responsible for creating such a sinister legend. Like the car itself, Andrew Filippone Jr. shoots the documentary in a raw fashion, and it definitely helps to show why a low-volume muscle car from the 1980s is still the object of obsession for many automotive enthusiasts to this day.

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.

Buick, Lexus top J.D. Power survey, as vehicle service improves overall

Buick and Lexus returned to their customary place atop J.D. Power's scorecard of satisfaction with dealership service departments. In the Customer Service Index Study, out Thursday, Buick scored 860 on a 1,000-point scale for mass-market brands and has topped this ranking in three of the past four years. Lexus topped the list of luxury brands with a score of 874. Fiat and Land Rover were the bottom-dwellers in the two categories. Buick and Lexus also ranked highly in the research company's overall Vehicle Dependability Study rankings out recently. The customer experience at car dealerships has improved steadily, with the overall industry score rising in seven of the past eight years. And one statistic is particularly remarkable: 94 percent of customers say their car was fixed right the first time. The dominant area of difficulty in repairs seems to be infotainment systems. Only 80 percent of respondents said their stereo was fixed right the first time. And in last month's Vehicle Dependability Study, J.D. Power reported that infotainment systems were the most commonly reported vehicle issue, accounting for 22 percent of all problems reported, up 2 percent from the previous year. J.D. Power surveyed 70,000 customers for the Customer Service Index Study. For the Vehicle Dependability Study, it surveyed 35,186 first owners of 2014 model-year vehicles after three years of ownership. Below are charts for both the current study and the complementary overall brand dependability survey. Related video: