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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.

11 vehicles from Barrett-Jackson Las Vegas worth watching

This weekend will see the world's collector car crowds descend on Las Vegas, NV for one of the biggest shows on Barrett-Jackson's popular auction circuit. There are hundreds of vehicles up for bidding, ranging from a brand-new Lamborghini Aventador to a spattering of Art Deco classics and a huge swath of classic muscle cars.
While it's virtually impossible to assemble an inarguable list of the best cars coming during the three-day, 700-plus vehicle auction, we've sifted through the listings for this year's show - it was a tough assignment, we promise - and assembled a list of what we think will be some of the most interesting lots. We'll admit, it's a bit heavy on American iron, but if you browse BJ's listings, you'll come to a similar conclusion. Still, scroll down for our list of what we think will be the most interesting vehicles at the upcoming auction.

The 2017 GMC Yukon XL Denali: Not just for the fertile set

I have a sis whom I've nicknamed "The Vickster." She is a beautiful Amazon, 6'1 on a good day and is the mom to a singleton. So why would my sis need to own a GMC Yukon XL Denali when she doesn't have a brood? Well to this I say, is there a written rule somewhere that states behemoth SUV's must be solely purchased by, you know, school-run moms? I think not! Even though the 2017 GMC Yukon XL Denali is tanker-sized and can swallow up to nine passengers, it has road presence and supreme luxury to boot which is a real draw for not just the fertile set. The Yukon XL Denali is an in-your-face kind of vehicle, and it was all in mine. The monolith has a presence, there's no denying, and even though it is big from every angle, it is far from odious. The stately looking ride has nicely defined slabs of metal, boxy proportions that make you look as it glides down the highway. Giving the Yukon XL my front-to-back once over, I liked its imposing mesh grille, nicely placed chrome accents and badges, riveting upsized wheels, and attractive high-intensity discharge (HID) headlamps and LED rear tail lamps. Once I settled into the cavernous and swanky realm of leather and mellow accent lighting that makes up the Yukon XL's interior, I then realized why "The Vickster" opted for this vehicle. The SUV's interior design is not overdone, no excessive bling to the point of blindness! Tasteful appointments on the Yukon XL include soft-touch leathers, aluminum trim, wood inlays, La-Z-Boy comfy seating in the first two rows (2nd-row power-release fold-and-tumble bucket seats); and thankfully, the non-gizmos overkill command center has large and ergonomically comfy controls. Space for a leggy crew is more than ample in the first and second rows. The SUV's available power folding, third-row fold-flat seats, however, are not exactly cut out for those who have gone past middle school as the seating is less bolstered and a little too close to the floor. Loved the wide and cushy center console that is not only spacious enough for hanging folders or a laptop but most importantly, it's elbow-friendly! Technology on the Yukon XL did not disappoint—particularly with the available built-in 4G Wi-Fi Hotspot for up to seven devices that kept me connected wherever I roamed.