HEAVY INDUSTRY

GM to Sell More Preference Stock: General Motors Corp. said it is looking to raise as much as $402.5 million later this month through the sale of preference stock structured to lure individual investors looking for a high yield. In another development, GM recalled about 911,000 of its cars for safety repairs. About 830,000 Chevrolet Corsica and Beretta cars built between 1988-90 were recalled because of a potential problem with shoulder safety belt retractors. The firm also recalled about 60,000 1991 Chevrolet Cavalier and Pontiac Sunbird cars to fix a part of the front doors. The third recall affected about 21,000 1991 model Buick Park Avenue and Ultra, Oldsmobile 98 Elite and Touring Sedan cars and 1992 models of the Buick Le Sabre, Pontiac Bonneville and Oldsmobile 88 Royale because of a potential parking-brake problem.