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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported) May 27, 1997
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GENERAL MOTORS CORPORATION
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(Exact name of registrant as specified in its charter)
STATE OF DELAWARE 1-143 38-0572515
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
100 Renaissance Center, Detroit, Michigan 48243-7301
3044 West Grand Boulevard, Detroit, Michigan 48202-3091
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (313)-556-5000
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ITEM 5. OTHER EVENTS
(a) As previously discussed in the General Motors Corporation Quarterly
Report on Form 10-Q for the period ended March 31, 1997 (1997 1st Quarter 10-Q),
local union members in Oklahoma City, Oklahoma, and Pontiac, Michigan, ceased
production at two assembly plants on April 4 and April 22, 1997, respectively,
where new local union agreements had not been completed. The work stoppage at
the Oklahoma City facility ended on May 27, 1997, after GM and representatives
of the local union reached a tentative agreement, that was subsequently ratified
by the members of the local union. GM is seeking to resolve the issues which
have created the work stoppage at the Pontiac facility, the timing of which is
uncertain. To the extent that work stoppages continue to disrupt the production
and shipment of vehicles, the resulting deferral or decline in revenues will
have a continuing impact on GM's results of operations. Including the
unfavorable after-tax impact of $225 million through May 15, 1997, that was
disclosed in the 1997 1st Quarter 10-Q, GM estimates that the work stoppages in
Oklahoma City and Pontiac had an aggregate unfavorable after-tax impact of $490
million, or $0.67 per share of GM $1-2/3 par value common stock, during the 1997
second quarter that resulted from a loss of 96,000 units of production. The
above estimated unfavorable after-tax impact represents the combined effects for
GM North American Operations (aggregate to date - $375 million), Delphi
Automotive Systems (aggregate to date - $85 million), and the Delco Electronics
unit of Hughes (aggregate to date - $30 million) and does not take into account
the effect of possible recoveries that may occur through truck production
increases that GM is likely to pursue at various facilities in future periods.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL MOTORS CORPORATION
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(Registrant)
Date June 30, 1997
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By
s/Peter R. Bible
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(Peter R. Bible,
Chief Accounting Officer)
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