1971 Cadillac Series 75 Limousine on 2040-cars

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GM's Reuss explains why Cadillac is heading to New York

"We're going to take it to a place [New York] to change the way that we do business around the brand of Cadillac." - Mark Reuss
General Motors product chief Mark Reuss elaborated Tuesday on Cadillac's move to New York in 2015, saying it will "elevate" the brand and allow it to reach new customers.

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 announces 6 recalls covering nearly 720k cars

General Motors has announced yet another sprawling recall campaign, with six separate elements covering 717,950 vehicles on US roads. At this point in 2014, it's starting to seem like there are more days with a GM recall than without. Perhaps most troubling about this latest volley, though, is that every vehicle is from the past few years, indicating that GM's quality woes may not be limited to pre-bankruptcy vehicles.
The largest element of this latest campaign covers 414,333 units, and includes the 2011 to 2012 Chevrolet Camaro, 2010 to 2012 Chevy Equinox, GMC Terrain and Cadillac SRX and the 2011 to 2012 Buick Regal and LaCrosse. Only vehicles with powered, height-adjustable seats are covered. In these particular cars and crossovers, the bolt that secures the height adjuster actuator may loosen of its own accord and in some cases fall out completely. If this happens, the seats will be able to move both up and down. GM claims the vehicles are safe to drive, provided drivers don't vertically adjust their seats. This particular issue has caused one crash and three injuries.
The largest element of this latest campaign covers 414,333 units, including the Chevrolet Camaro and Equinox, GMC Terrain, Cadillac SRX and the Buick Regal and LaCrosse.