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The Detroit News reports that General Motors is attempting to borrow $500 million from one or both of Detroit's pension funds to refinance its Renaissance Center corporate headquarters. GM is saying it may have to sell the complex if a refinancing deal isn't reached, despite the fact the company just took full ownership of the facility in May at a cost of $626 million. So what's really going on here? Is GM that hard up for cash already, or are they just putting the squeeze on some deep local pockets? Let's look at the facts. More »
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