GM has another $200 million or more to work with, now that Kirk Kerkorian and his Tracinda corporation have offered up their shares as collateral for a loan of that size. In a filing with the Securities & Exchange Commission yesterday, Tracinda Corp. said that it entered into a pledge agreement with Bank of America as of October 14. Intended proceeds from the loan were not disclosed.

Tracinda recently upped its ownership of GM to 9.9 percent and possibly has plans to seek a seat on GM's board.


Share This Photo X