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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.

MotorWeek's 80's GM muscle coupe roundup includes Regal GN and Monte Carlo SS

Even with just four brands in the family, General Motors still represents a performance powerhouse. Between the Chevrolet Corvette Z06, Camaro Z/28, Cadillac CTS-V and ATS-V, The General can still deliver plenty of thrills. The 1980s, though, saw the brand go even crazier with performance. While the Camaro and Corvette were still around back in the day, GM had a number of other interesting performance offerings. The Bowtie was complemented by the long-deceased Monte Carlo SS, while the now-defunct Pontiac and Oldsmobile offered the Grand Prix and thumping 442, respectively. And Buick, which isn't short on performance with its Regal GS and Verano Turbo, offered a much more serious vehicle, in the form of the Grand National (not to mention the Darth Vader-spec GNX). MotorWeek, in its hugely entertaining retro flashbacks, looks back on these three long-lost GM performance icons, and it's just as good as you might expect. News Source: MotorWeek via YouTube Buick Chevrolet GM Pontiac Coupe Performance Classics Videos buick grand national chevy monte carlo oldsmobile 442

2018 Buick Enclave slims down for spy shots

Most vehicles are refreshed every five years or so. New technology and styling is required to keep up with the latest trends. Although this cycle is common, there are some vehicles, like the Buick Enclave, that seem to stick around far past their expiration date. We now have spy shots of what appears to be the nine-year old Enclave's replacement. Although the vehicle in the photos is completely covered in camouflage, we can make out the new Buick family grill. There are a set of LED running lights up front and what appear to be a location for foglights toward the bottom. The camo covering is cut in places to allow gaps for sensors, presumably for parking and other driver aids. Out back, the rectangular taillights don't appear to be production ready. The whole rear, especially the glass, looks smaller than the outgoing model, though it is difficult to properly tell through the camouflage. The rear bumper has wide cuts for the dual exhaust pipes, and again the camo has cutouts for sensors. The side profile reveals the biggest change with the new Enclave. The current version shares a platform with the Chevrolet Traverse and the original GMC Acadia, some of the largest vehicles on the market. The all-new 2017 Acadia scaled down in order to compete against midsize crossovers and now has more in common with the smaller, Chinese-built Buick Envision. That doesn't mean the Enclave and Acadia are entirely separate. Both the Enclave and upcoming Traverse will ride on a stretched version of the Acadia platform. The general profile remains the same, but it's apparent that the vehicle in these photos is longer than the new GMC. Most other details are speculation. The Enclave will most likely arrive with GM's 3.6 liter V6. With the introduction of the Envision, the Enclave is expected to move upmarket to compete against the Acura MDX and Volvo XC90. Because of the slightly narrower shape, passenger seating is expected to fall to seven. The new crossover will probably lose a bit of weight with the redesign. The new Buick is expected to debut next year as a 2018 model. Look for the reveal of the Chevrolet Traverse replacement as well. Related Video: Featured Gallery Buick Enclave Spy Shots View 20 Photos Spy Photos Buick Crossover