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GM recalls 2014 Cadillac CTS recall

No, that headline isn't a typo - General Motors has reportedly issued a recall for one of its own recalls. The recall of a recall affects the recall of the 2014 Cadillac CTS, which wasn't supposed to be recalled. Except that the 2014 CTS was supposed to be recalled. Oh no, now we've gone cross-eyed.
Allow us to explain. The redesigned, third-generation CTS Sedan does not feature a faulty ignition switch, while the 2014 CTS Coupe and Wagon, which are based on the second-gen car, do. And as it turns out, there are only 264 of those vehicles included in last week's 8.2-million-unit, ignition-switch recall. Model year 2003 to 2013 CTS Sedans, Coupes and Wagons are still covered.
It's not entirely clear how this, frankly, colossal mistake was made, although we're betting GM is rapidly trying to get to the bottom of this embarrassing issue. Regardless, let's just take what solace we can in there being one less vehicle that GM has recalled this year.

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.

2015 Cadillac Escalade

Cadillac has been an interesting story in the auto industry over the past several years. Its comeback bid may be well over a decade old, but it's only recently that the Wreath and Crest has transformed from the auto industry's retirement home into its hot new thing. Today's Cadillac is a powerful marque working to instill passionate design, sound driving dynamics and cutting-edge technology into each model it builds, with vehicles like the ATS and redesigned CTS leading the charge.
Now, its latest model has arrived. This fourth-generation Escalade is among the most important new Cadillacs since the division's renaissance kicked into high gear. It's the brand's de facto flagship, and the first vehicle many young people think of when hearing the name "Cadillac." In the past, the Escalade was the chosen vehicle of the rich, flashy and famous. It's suffered over the past few years, though, particularly as new and more luxurious competitors have come to the fore.
With this latest redesign, General Motors is aiming to retake the spotlight as purveyors of the market's premier luxury SUV. To find out if it's been successful, I ventured down to the South Carolina Lowcountry to test the all-new 2015 Escalade.