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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.

GMC Hummer EV First Drive Review | True supertruck, for better and for worse

Right from the start, the 2022 GMC Hummer EV has been advertised with superlatives, mostly in reference to its specifications. GMC has even called it a "supertruck" in its own materials. And while we've received a taste of the truck before, only now have we finally got our hands on the production-spec model, and had the opportunity to drive it both off-road and on the street. What we've found is that the Hummer EV is undoubtedly a supertruck, much the same way that a Ferrari or a Lamborghini is a supercar. It totally delivers on its incredible capabilities, but there are compromises. And they're worth being aware of before plunking down the more than $100,000 a first-year Hummer will run you. That six-figure truck is the version we tested, the Edition 1, which actually rings in at $112,595. It's the only version in production for now, with lower trims coming in the next couple years. It's sold out, but many of the features will be available on the next highest trim level, the EV 3X. Among those features are the three motors, torque vectoring, “Watts To Freedom” launch mode, four-wheel steering, removable glass roof panels, 35-inch tires, Super Cruise, power rear window and MultiPro tailgate. In other words, although you can literally no longer order an Edition 1, you can still order a Hummer EV with nearly the same specification. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. We'll start where most owners probably will: mashing the throttle. No one can resist seeing what 1,000 horsepower and 1,200 pound-feet of torque will feel like. It's even a tad more torque in Watts To Freedom mode, which preemptively runs the cooling system to enable the additional twist. That mode allows the Hummer to hit 60 mph in 3 seconds, and the drama is dialed up with visual, audible and haptic cues. But even without engaging launch mode, the Hummer EV impresses and delights with its acceleration. In addition to pinning you to the seat, the entire truck squats in an exaggerated fashion. It's absurd, especially considering the truck's curb weight that surpasses a truly astounding 9,000 pounds. ThatÂ’s several hundred pounds more than the heaviest GMC Sierra HD 3500 diesel dually. Of course, that weight, as well as the nature of electric motors, means the party starts to calm down as the speed increases. The weight is noticeable in other areas, too.

A spotter's guide to Super Bowl LIV car commercials

Set to kick off on Fox at 6:30 ET on Sunday, February 2, from Hard Rock Stadium in Miami, Florida, the big game will feature the Kansas City Chiefs and the San Francisco 49ers. Throughout Super Bowl LIV, viewers will see about 50 commercials, each of which costs as much as $5.6 million per 30 seconds, according to AdWeek. Originally, there were more than 77 ad slots, so several companies could be paying well more than $10 million for a single, longer commercial. Numerous car companies have already announced their commercials, or their intentions to show commercials, during the game. Here's a roundup of the ones we know about so far. During the game on Sunday, we'll be livestreaming and adding links to the new commercials as they become available, so check back with us for that post.  Audi: E-Tron Sportback Maisie Williams has experience wearing many faces, and in Audi's Super Bowl commercial, she does her best Elsa impression. In the spot, titled "Let It Go," Williams faces the rigorous task of getting through L.A. traffic, but she's alleviated by the comfort of the Audi E-Tron Sportback electric crossover. The commercial is meant to signal the company leaving its gas past behind and moving forward to a sustainable future.  Genesis: GV80 Genesis makes its Super Bowl debut with a commercial that will show its all-new SUV, the GV80, to viewers around the world (many of which will be seeing the vehicle for the first time). The ad features Chrissy Teigen and John Legend as the purveyors of "new luxury," while "old luxury" is left for the birds. GMC: Hummer General Motors is bringing back the Hummer nameplate as a premium electric GMC truck. GM says it will have 1,000 horsepower and will be capable of going zero to 60 mph in three seconds. GM brought in NBA legend and Hummer fanboy LeBron James for the debut commercial. Hyundai: Sonata Hyundai is known for bringing in the big-time celebrities for its commercials, and 2020 is no different. A new advertisement called "Smaht Pahk" features John Krasinski, Chris Evans, and Rachel Dratch, all three of whom are from the Boston area. The trio gets into full character as they discuss the new high-tech parking feature on the redesigned 2020 Hyundai Sonata, and David Ortiz makes a cameo at the end. Even when New England isn't in the Super Bowl, New England is in the Super Bowl.