Pension Board Blinks As GM Seeks $500 Million For RenCen RefinanceSThough no formal up or down vote has been called, General Motors may be out of luck getting the $500 million in local refinancing for its Renaissance Center world headquarters we reported on Tuesday. The Detroit News now says members of Detroit's city pension board and Police & Firefighter's Fund board think GM's refi request is too much money for the funds to support given the current global auto market. Talk about a vote of no confidence in one the city's biggest employers. Options now include seeking other methods of funding or actually selling off the RenCen though if a sale were to take place, GM would retain the headquarters on lease. Considering GM bought the whole place in May for $626 million and now is considering refinancing, this reminds us of our own investments these days: Buy high, sell low and the like. [DetNews]