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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 infotainment built with Unreal Engine used by 'Fortnite' and 'Rocket League'

We're only a couple weeks away from the reveal of the GMC Hummer EV truck and SUV. And we're expecting a lot of boasting about impressive capability and unique features. What we weren't expecting was for its infotainment system to be built on a video game engine. That's the news that has come out of Epic Games, creators of Unreal Engine, the basis of the Hummer's infotainment system. If you've been an avid video gamer anytime in the last 20 years, Unreal Engine should be recognizable. The first version of it powered Epic's "Unreal" and "Unreal Tournament" games, and more recent versions power multiplayer hits such as Epic's "Fortnite" and Psyonix's "Rocket League." The engine has been licensed out to countless other game developers for titles by both indie developers and large game companies. But its use in the GMC Hummer will be the first time it has powered a production car's infotainment system. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Epic didn't say which version of Unreal Engine is being used in the Hummer. Presumably it's a version of Unreal Engine 4, since Unreal Engine 5 hasn't been released yet. Also, while Epic released a trailer announcing the partnership and showcasing Unreal's 3D rendering and menu developing tools, it doesn't give us a peak at what the infotainment and instruments of the Hummer will look like. The company does tout fast boot-up times, powerful graphics, and over-the-air updates as useful features included with Unreal. But for a clear look at the final product, we'll have to wait for the October 20 reveal. Related Video:

2014 Chevy Silverado High Country spied wearing trappings of new luxury trim

Spy photographers have spotted the new Chevrolet Silverado High Country and GMC Sierra Denali out on public streets for a little testing. From the looks of things, the Silverado will receive a much-differentiated front fascia along with special badges and those honking 20-inch chrome wheels. Expect to find a more posh interior as well. Likewise, the Sierra Denali will wear a tweaked nose with the familiar Denali bling. The one of the GMC trucks spotted here rolls on 21-inch gunmetal wheels instead of the 20-inch chrome pieces of the High Country.
Word has it both trucks will go on sale after the Texas State Fair this summer. While General Motors hasn't said for certain what we can expect to find under the hood, we'd be surprised to see anything outside of the range of engines found in the standard Silverado and Sierra models. That means buyers should be able to get their hands on the efficient, 23-miles per gallon 5.3-liter V8.