GM Seeks OK for $500-Million Stock Offering:...
From Times Staff and Wire Reports
GM Seeks OK for $500-Million Stock Offering: General Motors Corp. said it had asked the Securities and Exchange Commission for permission to sell 14 million shares of a new kind of stock that could raise more than $500 million. The company said money raised by selling the new stock would be used in GM automotive and financing operations worldwide. GM lost $1.1 billion in the first quarter of this year.
