General Motors Corp. wants to borrow about $500 million from one or both of Detroit’s pension funds to refinance the Renaissance Center, the automaker’s iconic world headquarters, in a move that could pump cash into the financially strapped company.

GM officials are scheduled to make a preliminary investment pitch Thursday to the city’s Police & Fire Retirement System and are trying to schedule a meeting with the pension fund representing general city employees.

If a deal cannot be reached, General Motors will consider selling the landmark and leasing space within the RenCen, John Blanchard, GM’s executive director of worldwide real estate.

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The U.S. government’s pension insurance agency has told bankrupt auto parts maker Delphi Corp it would go to court on Friday to secure a claim on an additional $900 million in Delphi assets, The Wall Street Journal said.

The move comes after Delphi missed payments of several hundred million dollars to its pension plan in June and July. The new claims involve Delphi’s foreign operations, which are believed to be profitable. …click here to read more

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