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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.

2017 Buick LaCrosse gets Avenir-inspired tease

Stylish touches from the beautiful Buick Avenir Concept are actually hitting the road on the front end of the new 2017 LaCrosse. The brand is showing off this single teaser of a more angular grille surround than what is currently seen on its lineup. In the center there's a three-color version of the well-known Tri-Shield badge. Chrome wings meet at the logo, and vertical chrome bars lead the eye up over the body. A version of this design is eventually becoming part of the entire Buick lineup by 2018. Debuting at the 2015 Los Angles Auto Show in November, the future LaCrosse rides on stronger, lighter underpinnings than the current model. It also gets a five-link rear suspension. The company promises that the changes mean a more engaging drive from the sedan. "The Avenir concept shattered expectations of what a Buick could be and the 2017 LaCrosse promises to do the same," Duncan Aldred, vice president of Buick, said in the release of the teaser image. The show car's look was highly praised by critics when it debuted at this year's Detroit Auto Show. The Avenir even won Eyes on Design awards for Best Designed Concept Vehicle and Innovative Use of Color, Graphics, and Materials. Related Video: Buick Previews All-New 2017 LaCrosse Expressive, Avenir-inspired design cues introduce the new face of Buick DETROIT – Buick today confirmed the all-new 2017 LaCrosse, with a preview of its Avenir concept-inspired design cues. A striking evolution from current Buick models, LaCrosse features a grille design that puts a new face on the brand, including a new, three-color tri-shield insignia set on a wing-shaped element. Contrasting with darkened waterfall grille bars and spanning the width of the opening, it connects the grille and headlamps, and emphasizes LaCrosse's new sculptural surfacing. The design was introduced on the Avenir concept and was inspired by the 1954 Wildcat II concept. It's a face all Buick models will adopt by 2018. "The Avenir concept shattered expectations of what a Buick could be and the 2017 LaCrosse promises to do the same," said Duncan Aldred, vice president of Buick. "Its expressive design represents a break from convention and highlights the progressiveness in all new Buick models." The next-generation LaCrosse's design is framed on an all-new chassis that is stronger yet lighter than the current model and serves as the foundation for a more dynamic driving experience.

Buick might be getting a logo makeover

General Motors has finished off an extensive model overhaul for its Buick division, but along with its updated cars, the brand might also be getting a new logo. According to the Detroit Free Press, GM North America President Mark Reuss indicated that the Buick tri-shield logo could be getting a makeover, but offered no further information.
It is unlikely Buick will completely redesign or replace its current logo, but the article seems to indicate that it might return to color; although all chrome now, the logo used to feature red, white and blue shields. Head on over to the Detroit Free Press article to look at some past Buick logos including one from 1904.