AD #2825 – GM Eliminates Dividend & Share Buyback; Audi Drops DTM for Formula E; Sporty Elantra N-Line Teased

April 28th, 2020 at 11:44am

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Listen to “AD #2825 – GM Eliminates Dividend and Share Buyback; Audi Drops DTM for Formula E; Sporty Elantra N-Line Teased” on Spreaker.

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Runtime: 10:07

0:07 FCA Following GM & Ford Plant Timeline
1:07 Tesla Forced to Postpone Reopening
1:39 GM Eliminates Dividend & Share Buyback
2:09 Mary Barra Makes Much Less Than Elon Musk
3:02 Audi Drops DTM to Focus on Formula E
3:47 Hyundai Teases Sporty Elantra N-Line
4:50 Rolls-Royce Making Exclusive Honey
5:32 Skoda’s All-Yellow Pickup from 1995
6:19 New Porsche 911 Carrera Features
7:15 Vehicles Under Development Most Likely to be Cut

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32 Comments to “AD #2825 – GM Eliminates Dividend & Share Buyback; Audi Drops DTM for Formula E; Sporty Elantra N-Line Teased”

  1. Larry D. Says:


    Seriously, John? Did Barra’s PR BS VP suggested this horribly wrong and biased title?

    First of all, Barra Earned NOTHING. While she punished GM shareholders as you detail today above, her 21 million PLUS salary remained largely intact.

    On the contrary, Elon Musk earned every penny, and ALL the salary he got was NOT a salary but only stock. You live by the sword, you die by the Sword. Ask incompetent Barra if she would DARE be paid like that. Ask her what, if anything, she ever actually DID, which would MERIT her undeserved $21 million A YEAR.

  2. Kate McLeod Says:

    CEO pay just highlights what is terribly wrong with our society. I respect Mary Barra but I think all of these CEOs should spend all the time they need to understand that a paycheck (with all the dividends, etc. included) is too much and recognize what that money can do for workers and people who live paycheck to paycheck. I’m sure someone has figured out how to put that money back into society. I’ll give Mary one example: fix Flint.

  3. Larry D. Says:


    That is actually one of the few pieces of good news these days. I hope the dire straits of the automakers FORCE them to abandon their LOSERS and only develop the most PROMISING models, with the aim to go to an industry of NOT 1,000 different models in the US market, but to 500 or LESS better, better VALUE models for the consumer.

    If I am in the market for a compact car, I used to have dozens of choices. Civic, Golf, COrolla, Elantra, the kia clone of the Elantra whatever its name, Sentra, Cruze, FOcus, Didge Dart (good riddance to that turkey!), Subaru something, even a Mitsu probably!

    Do I REALLY NEED all these choices, if I will only buy an OUTSTANDING model? Such as the Civic, if I want some fun in driving, or a Corolla, if I am not an enthusiast and want a reliable APPLIANCE?

  4. Clarence Zahrobsky Says:

    why would the UAW want to go back to work as they get 70% of their pay plus the feds(taxpayers) are giving them $600 extra a week

  5. Kit Gerhart Says:

    More bad news for we Americans who like wagons. M-B is taking what was a very nice wagon, except for the mandatory 4WD, and adding black plastic and a lift kit for the U.S. market, turning it into a $70-80K Subaru Outback.

  6. NormT Says:

    GM is NOT paying any sub-pay unemployment.

  7. Larry D. Says:

    5 The E-wagon is an excellent car, but its price has become truly ridiculous, with the usual options. I recently mentioned a MT trend where everybody was in love (literally) with it, but the base price was $65k and the AS TESTED, REAL price was $90k!

    This makes it affordable to VERY few buyers, so it is no great loss if it is discontinued.

    After all, it is NOT fair for the losses of the E wagon to be passed to the buyers of the SUCCESSFUL variants of the E or S class or especially the M-B SUVs which buyers vastly prefer over the wagon.

    Now if there is something really divine about wagons, and you are deprived of them in the US market, fortunately you can still sell your FL condo and move to the old country, where wagons are still popular enough to enable makers to offer them and NOT lose $.

    Speaking of Wagons, I saw at least two Golf (or Jetta) small wagon-like vehicles in my walk around my 360 condo complex. But there were three dozen minivans of all makes vs the two (and a lone Volvo wagon).

    There, we still have Volvo Wagons on sale in the US. In what ways are they so much worse than the E class wagon? (price wise they are not much better).

  8. Kit Gerhart Says:

    7 The Volvo wagons are transverse engine, FWD-based powertrain cars with powertrains similar to much cheaper mainstream cars, but yeah, they do still sell wagons. To me, and I suspect to you, the E-Class is a much different car.

    The VW Golf Sportwagon, formerly Jetta wagon, is the only “mainstream” actual wagon still sold in the U.S. The only engine is a 1.4 turbo. The heyday of those wagons in the U.S. was in the 2000s, before the TDI disaster. I think the diesel take rate approached 40% some years for the wagons.

  9. Wim van Acker Says:

    @1, 2: GM share price in one year from $40 to 23, meaning market capitalization from $56 billion down to $32 billion. So GM’s CEO led the destruction of $24 billion of value and gets paid $21 million. Absurd.

    TESLA: shares up in one year from $220 to $777, market capitalization up from $40 billion to $143 billion. In other words, Elon Musk led the creation of $103 billion of shareholder value, three times the total worth of a mega company like GM.

  10. Kit Gerhart Says:

    7,8 The cheapest Volvo wagon, the V60, is ~$40K base price, and most would have at least $5K of options.

  11. JWH Says:

    CEO compensation in the U.S. – I know that years ago in Japan the compensation ratio from the lowest paid to the highest was about 20 times. Current ratio in the U.S. is about 200 to 300 times. Is anyone really worth that much more?

  12. Kit Gerhart Says:

    Years ago, I remember arguments about “how are company CEOs overpaid, when sports figures are also paid millions of dollars a year”? An argument in favor of sports figures that made sense to me, was that not many people can play basketball as well as Michael Jordon, but there would have been hundreds, or thousands of people who could have done a better job leading GM than Roger Smith, who oversaw huge losses in market share during his reign, while playing games with buying Hughes and EDS. Roger Smith would have been much easier to replace than Michael Jordan.

  13. Al Says:

    CEO pay is outrageous. Why would any board approved that kind of salary for anyone. No one can make any decisions that are worth that. Pay them all $1 Million max – take it or leave it. You will find qualified people at that rate. As far as GM – their quality keeps getting worse and worse – who’s decision was that?

  14. Al Says:

    And if CEO’s are worth that, then they should be held accountable for legal issues. Company screws up – CEO goes to jail. I believe Japan operates that way.

  15. joe Says:

    Elon Musk is nothing more than a con-man so I’m not surprise about anything negative I hear of him. He has many cult followers including Larry who always comes to his defense.

  16. Bobby T Says:

    14: yeah, just ask Carlos Ghosn!

  17. Kit Gerhart Says:

    14,16. But they let him skip the country in a Yamaha piano box, or that is the story, or was it a tuba box.

  18. ChuckGrenci Says:

    Maybe some sort of formula could be devised and then implemented in which top pay could be enforced, but on the other hand you have to look at what you propose, as these decisions can easily stifle creativity and risk/reward. This is a dangerous slope and reeks of socialism. Maybe a more pragmatic way to deal with these stupendous salaries is a more progressive tax on the rich (but you certainly shouldn’t take more than the effort of the individual to achieve that number that detracts from the incentive to earn it). This is not an easy thing to do; what of sports figures, book authors, music and let’s not even to the Hollywood crowd, who’s the all empowering “Oz” that will decree these absolutes?

  19. jJWH Says:

    #8 – Kit – Having a 2004 V70R since new, happy with Volvo wagon that drives like a car. Purchased it as the only vehicle we had at the time that would pull enclosed bike trailer was a garden tractor. Still keep the Volvo to pull trailer & for winter driving in South East Michigan.

  20. Larry D. Says:

    Volvo cutting 1,300 Swedish jobs

    (and becoming even more of a Chinese company, like its owners.)

  21. Larry D. Says:

    Self Explanatory. I can’t read the full article, but maybe you can.

  22. Larry D. Says:

    18 Top pay is OK with me IF it is PERFORMANCE based and justified, even if it means that somebody like Mary Barra in reality would take credit for the achievements of all kinds of OTHER GM workers and managers. But the reality is that CEOS make OBSCENE money REGARDLESS if they have MONUMENTAL SUCCESS for their shareholders, like ELon Musk, OR they FAILED, like Hackett, Barra, Nasser, Roger Smith, and all kinds of others since ancient antiquity.

  23. Larry D. Says:

    As “Murphy’s Laws of Work” postulate,

    “At the end of each failed project, the punishment of the innocent”…

  24. Kit Gerhart Says:

    19 I guess the V70 was more-or-less replaced by the V90. From what I find, they are similar size, but the powertrains are much different. Doesn’t yours have the transverse mounted inline six?

  25. Larry D. Says:

    I wonder what % of Ford’s $500 mill investment in Rivian this project was supposed to use.

  26. Larry D. Says:

    24 Two years ago I drove two hours from my summer home (most of it on a fast autobahn) to visit a retired MD friend who has a great summer place near an old spa resort, and just as I arrived I had a flat tire (front passenger side). My host called a friend of his who arrived in a small VOlvo ‘wagon’, probably a 60 series.

    I sat in the small rear seat, trying to find leg room (could not) and my head was similarly squeezed by the roof. There was NOTHING in the distinctly NON-Luxury vehicle that would let me guess it is a VOLVO and not a damn Hyundai, Kia, or Renault-Nissan for that matter.

  27. Larry D. Says:

    Despite range anxiety, if any, and the still not well developed supercharger nationwide network, Tesla drivers actually drive MORE miles than ICE drivers.

    Bob Wilson here is an example that verifies the above.

  28. Larry D. Says:

    An upgraded battery keeps the 2020 Bolt in the hunt with other big-range compact EVs, but it still lacks any sort of emotional pull.

    And that is the least of its problems, being priced two times the similar sized Sonic gas, while the Model 3 is same priced as a 3 series, and still has more range than the Bolt.

  29. Kit Gerhart Says:

    27. These “high mileage” Tesla drivers are driving an average of 34 miles a day. Most of them probably charge at home, or maybe at work, so don’t need superchargers much. Even for that occasional very long road trip, like the 568 miles from London to Inverness, you should need only 2 or 3 charging stops with a long range Model 3.

  30. jJWH Says:

    #24 – It’s a 5 cyl 2.5L rated at 300hp which in 2004 was fairly high.

  31. Kit Gerhart Says:

    30. Turbo, I assume. Yeah, that is good power for 2.5 liter at that time.

  32. jJWH Says:

    #31 – Sorry I meant to add Turbo after 2.5L.