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) April 9, 1999
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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 48265-1000
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
Management of General Motors Corporation (GM) has established 1999 "stretch"
net income targets for its automotive regions and General Motors Acceptance
Corporation (GMAC). General Motors North America has a "stretch" net income
target of $4 billion. General Motors Europe (including Saab Automobile A.B.) has
a "stretch" net income target of $900 million. The General Motors Latin
America/Africa/Mid-East and General Motors Asia Pacific regions, due to the
economic conditions in those regions, have "stretch" targets of limiting net
losses to approximately those reported in 1998. GMAC has a "stretch" net income
target of $1.5 billion.
The 1999 net income levels comprehended by the "stretch" targets are
significantly higher than levels established through GM's traditional business
planning process. Consequently, management views "stretch" targets as having a
significantly lower likelihood of achievement.
The principal important factors which may cause actual results to differ
materially from those expressed in the above forward-looking statements made by
the management of GM are set forth in GM's Form 10-K for the year ended December
31, 1998 at page II-22.
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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 April 9, 1999
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By
s/Peter R. Bible
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(Peter R. Bible,
Chief Accounting Officer)
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