GM May Sell Detroit Home Base

Firm seeks investment from pension funds in landmark Renaissance Center
Posted Oct 7, 2008 4:46 PM CDT
GM May Sell Detroit Home Base
A Navy Corvair flies by the Renaissance Center in Detroit during opening ceremonies at Red Bull Air Race on Saturday, May 31, 2008 in Windsor, Ontario, Canada.   (AP Photo/Jerry S. Mendoza)

General Motors will ask to borrow $500 million from pension funds for Detroit city employees to refinance its headquarters, the Renaissance Center, the News reports. The firm will make a pitch to the police and fire retirement system Thursday; GM will consider selling the landmark and leasing office space inside if it can’t get the funds. No matter what, GM said, it will not leave Detroit.

Read These Next
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X