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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 North American Car, Truck, and Utility of the Year entries announced

Over 40 vehicles will compete for the 2017 North American Car, Truck, and Utility of the Year awards. If that name looks a little strange, it's because the competition added a third category. In years past, pickup trucks, crossovers, SUVs, commercial vans, and minivans competed for the same award. That's why there were occasionally weird comparisons, like last year's competition between the Volvo XC90 and Nissan Titan XD. The new format separates pickups and commercial vans into the truck contest and CUVs, SUVs, and minivans into the utility competition. A complete list of eligible vehicles is below, but here are a few highlights. For one, the entire list of entries has a luxurious lean. Of the 43 vehicles, nearly half of them are from premium brands. There are two eligible Bentleys – the Bentayga and Mulsanne – the Rolls-Royce Dawn, Jaguar F-Pace, Audi Q7, and the Mercedes-Benz GLS-, E-, and S-Class Maybach. The performance ranks are lofty, too, with the Audi R8, Acura NSX, Alfa Romeo Giulia, Mercedes SL- and SLC-Class, Porsche 718, and F-150 Raptor. The mainstream entries are just as comprehensive. From the Chrysler Pacifica to the Chevrolet Cruze to the Fiat 124 Spider to the Mitsubishi Mirage, NACTOY has covered an enormous price range with this year's contestants. Of course, these are only the eligible vehicles. They'll need to run through three rounds of judging, starting in September at NACTOY's traditional Hell, MI, test drive. The Canadian and American journalists involved in the judging will announce this year's nine finalists – three in each category – on December 6. Cars Acura NSX Alfa Romeo Giulia Audi A4 Audi R8 Bentley Mulsanne Buick Cascada Buick LaCrosse Cadillac CT6 Chevrolet Bolt Chevrolet Cruze Fiat 124 Genesis G90 Hyundai Elantra Infiniti Q60 Jaguar XE Kia Cadenza Lincoln Continental Mercedes-Benz E-Class sedan Mercedes-Benz S550 Maybach Mercedes-Benz SL-Class Mercedes-Benz SLC-Class Mini Clubman Mitsubishi Mirage/G4 Porsche 718 Boxster and Cayman Rolls-Royce Dawn Toyota Prius Prime Volvo S90 SUVs Audi Q7 Bentley Bentayga Buick Envision Cadillac XT5 Chrysler Pacifica GMC Acadia Infiniti QX30 Kia Sportage Mercedes-Benz GLS-Class Jaguar F-Pace Mazda CX-9 Nissan Armada Trucks Ford F-Series Super Duty pickups Ford F-150 Raptor Honda Ridgeline Nissan Titan half-ton Related Video: Featured Gallery Bentley Bentayga View 23 Photos News Source: Automotive News - sub.

Was the C7 Corvette cut from Beyonce's Super Bowl halftime show?

Someone was bound to receive a free 2014 Chevrolet Corvette Stingray during the Super Bowl XLVII festivities; it just wasn't who we thought it was going to be. Despite a report back in December that superstar Beyoncé Knowles would be getting an all-new Corvette during her halftime performance, that turned out not to be the case. Joe Flacco, starting quarterback for the Baltimore Ravens, did in fact win a Corvette for his MVP performance.
So what transpired that prevented Beyoncé from rolling on stage in the new Chevrolet? Anyone who knows isn't telling, but according to Yahoo! Autos, General Motors said that for one reason or another a deal "did not work out," and it appears to have been an eleventh-hour change. Regardless of who's to blame or what prevented this from happening, we're sure Chevy has had no problems getting attention for the C7 Corvette since it was introduced last month.