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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.

GM's fullsize SUVs boost highway mileage by nearly 10 percent

We met the redesigned 2015 versions of the Chevrolet Suburban and Tahoe, and the GMC Yukon and Yukon XL at the 2013 LA Auto Show. Improved gas mileage numbers have been announced to go along with the improved exteriors and interiors, with city mileage improving by seven percent and highway mileage going up by nearly ten percent; you'll now get 16 miles per gallon in the city and 23 on the highway.
The only applies to models with the 5.3-liter engine, though, not the premium Yukon Denali and Yukon XL Denali SUVs with the 6.2-liter motor. Still, the 5.3 gets you more power than previously, with 355 horsepower and 383 pound-feet of torque underfoot, on top of the improved fuel economy numbers. The 6.2-liter sticks with official mpg ratings of 15 highway, 21 city. There's a brief press release below with words straight from the horse's mouth.

2018 GMC Sierra 1500 Buying Guide | What you need to know about this pickup truck

The GMC Sierra is a work-capable truck that can be optioned like a luxury car. Variety and choice are the keywords for the Sierra, not to mention close rivals like the Ford F-150, Ram 1500, and Chevrolet's own Silverado 1500. A Sierra buyer has a seemingly infinite list of choices when it comes to specifying exactly what they need in their pickup. In terms of cab length alone, there are three choices – Regular, Double, and Crew – to go along with your pick of Short, Standard, or Long cargo bed. Engines range from a 4.3-liter V6, upward to a range-topping 6.2-liter V8 available in top trim levels like the SLT and Denali. The Sierra can be ordered with a choice of two- or four-wheel drive, and transmissions include both a 6- and 8-speed automatic, depending on your choice of powertrain and trim. Changes for the 2018 model year include the standard fitment of a rearview camera, along with a Tire Fill Alert system that lets the driver know when the correct pressure has been reached. A 7.0-inch touch-screen stereo system is also now standard equipment on base Sierras. Is the 2018 GMC Sierra Safe? The National Highway Traffic Safety Administration gives the 2018 GMC Sierra 1500 an overall crash-test rating of five stars. In front and side impact tests, the latest Sierra 1500 scored a five-star safety rating. A four-star rating was recorded in the Rollover resistance test – this rating applies to Sierra trucks fitted with either rear- or all-wheel drive. Because the Sierra is such a popular vehicle, it's worth noting that the NHTSA conducted crash tests on models fitted with both these drivetrains, and in two cab lengths. The Insurance Institute for Highway Safety, which provides ratings for new vehicles based on its own comprehensive crash tests, also tested two versions of the Sierra 1500. The extended cab model registered "good" ratings in all but one of the IIHS' crash tests. Driver side protection in the small overlap test was deemed "acceptable" – front passenger-side results were not rated. Headlight effectiveness was given an "acceptable" rating, dependent on trim level selected. Meanwhile, the ease of use of the Child Seat Anchors (LATCH) was deemed "acceptable" in the extended cab Sierra. Ratings dip slightly for the Sierra 1500 in standard cab format. Driver-side protection in the front small overlap test drops to "marginal," while the available LATCH system scored a "poor" for its ease of use.