General Motors Corp., which once thought it could weather the storms of reconversion alone, was calling for help last week.
Back in 1945 Board Chairman Alfred P. Sloan Jr. proudly announced that General Motors' postwar expansion, likely to cost $500 million, would be paid for "out of general corporate resources." G.M. had $596 million in cash and Government securities for the job. Last week G.M.'s wad was so close to being shot that the company announced it would soon try to raise $100 million by floating a million new shares of preferred stock. G.M.'s cash on hand had fallen to...
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