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GM may mortgage Detroit headquarters to raise cash

Discussion in 'Fred's House of Pancakes' started by TonyPSchaefer, Oct 7, 2008.

  1. TonyPSchaefer

    TonyPSchaefer Your Friendly Moderator
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    General Motors Corp. says it is looking to take out a mortgage on its towering headquarters complex as it continues efforts to raise cash to operate in an era of tight credit.


    The automaker's top real estate executive said Tuesday that GM will make a presentation on Thursday to the Detroit police and fire pension board to see if it might be interested in investing in the Renaissance Center. The company also will talk with the general employees' pension board.


    Article: GM may mortgage Detroit headquarters to raise cash - BusinessWeek
     
    #1 TonyPSchaefer, Oct 7, 2008
  2. mojo

    mojo Senior Member

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    Currently,I think you need to prove an income in order to qualify for a mortgage.
     
    #2 mojo, Oct 7, 2008
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