CORPORATIONS: Help for a Giant

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...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!