PROXY FIGHT OVER GM STOCK HEATING UP

A proxy fight is escalating between General Motors and an activist shareholder who wants to split its shares into two classes. David Einhorn’s Greenlight Capital said Tuesday it’s sending a letter to shareholders emphasizing the stock price has barely grown since GM’s initial public offering at $33 seven years ago. GM says two independent, corporate evaluation firms, ISS and Glass Lewis, recommended against the proposal. A vote is June 6 at the annual shareholders meeting.