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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.

2020 Chevy and GMC HD truck spy shots reveal LED lighting

With Chevy and GMC's 1500 series pickups just starting to roll into dealerships, our attention naturally turns to the Heavy Duty 2500 and 3500 series trucks. We've seen these HD trucks testing already, but thes latest spy photos give us our first good glimpse of the two HD trucks' headlights through some translucent camouflage, and their designs appear very interesting and quite different from each other. The 2020 Chevrolet Silverado HD looks to be getting a striking set of LED lights that flank the grille. A previously released teaser image of the truck shows that the front lighting elements are split by a bulky wing that branches out from a big, upright chrome face, and both top and bottom units seem to incorporate LED slashes. If you look closely at the images, you can easily make out the Chevrolet script cut into the grille's top edge. Amidst a bevy of Chevy test trucks was one lone GMC model in a dually configuration, and the Sierra HD also appears to have some LED accent lighting up front. Unlike the boomerang-shaped Chevy LEDs, GMC's version sports a shoulder-like right angle of light bars. Assuming these are production-level lighting units, it seems the Sierra HD will stick pretty close to the face of GMC's latest light-duty pickup truck. We're still waiting for confirmation on what range of powertrains will be available in GM's next-gen HD trucks, but we're sure there will be both gasoline- and diesel-burning engines on the ordering sheet. We expect to hear official details on the trucks sometime soon. Related Video: Featured Gallery 2020 GM Heavy Duty Pickup Spy Photos View 18 Photos Image Credit: KGP Spy Photography Spy Photos Chevrolet GMC Truck gmc sierra hd chevy silverado hd

This is your 2014 Chevrolet SS

Think you've waited long enough for this? If so, then you'll want to savor the high-res photos we've so far been given of the 2014 Chevrolet SS, the first rear-wheel-drive performance sedan from The Bowtie in 17 years.
We all know its our version of the brand new VF-model Holden Commodore, but what's under the hood that earns the appellation "performance?" A 6.2-liter LS3 V8 engine producing 415 horsepower and 415 pound-feet of torque. That's 35 hp and lb-ft less than the same engine is expected to produce in the 2014 Chevrolet Corvette. Chevrolet says the sedan will get from 0-to-60 miles per hour "in about five seconds."
Shifting comes courtesy of a six-speed automatic with paddles on the steering wheel, while stopping arrive via four-piston Brembo calipers up front, a single sliding piston in back. The forged aluminum wheels are 19-inchers all around, each set supporting right around 50 percent of the sedan's weight, and the aluminum hood and trunk are meant to keep the center of gravity low.