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October 8, 2008

GM may sell HQ in Detroit

DETROIT (AP) — A General Motors official says the automaker could consider selling its downtown Detroit headquarters as part of a way to raise cash, but plans to stay in the towering complex.

The Detroit News reported that General Motors Corp. wants to borrow about $500 million from one or both of Detroit's pension funds to refinance the Renaissance Center, which it bought earlier this year for $626 million.


 
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