General Motors shareholders have overwhelmingly turned down an activist shareholder's plan to split the company's stock into two classes. Only about nine per cent of the stockholders voted for the plan from David Einhorn's Greenlight Capital hedge fund in a preliminary vote count. Despite making $42 billion US since 2010, GM shares have appreciated only about five per cent. Shareholders also voted down a proposal to separate the chairman and CEO positions that are now held by Barra. GM ended last month with a 101-day supply of cars and trucks when automakers consider a 60-day supply to be optimal.

Source: CBC News June 06, 2017 14:42 UTC