General Motors CEO Mary Barra says she has heard Sergio Marchionne loud and clear on his call for a merger of GM and Fiat Chrysler Automobiles. She also has listened keenly to her own shareholders, and they're not saying much of anything.
In an interview with Automotive News last month, Marchionne lobbied heavily for GM to give FCA another look, arguing the benefits were too big to ignore.
And yet, Barra said, GM investors have found a way to tune it out.
"There hasn't been much stated from our investors," Barra told a gathering of reporters on the eve of the Frankfurt auto show, in her first appearance there as CEO. "I think we need to take note of that."
Barra said GM and its board have studied the issue "very, very carefully and in tremendous detail." In the end, she said, "it's not in the best interest of General Motors shareholders. I think that's a very compelling message, and it's resonating with those shareholders."