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) January 14, 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
On January 14, 1999, General Motors Corporation (GM) issued the following
news releases on GM's favorable Internal Revenue Service ruling regarding the
planned distribution of Delphi common stock. The news release is as follows.
GM RECEIVES FAVORABLE IRS RULING REGARDING
PLANNED DISTRIBUTION OF DELPHI COMMON STOCK
DETROIT - General Motors Corporation today said that it has received a
ruling from the U.S. Internal Revenue Service confirming that GM's plan to
effect a distribution in 1999 of the shares it holds of Delphi Automotive
Systems Corporation (Delphi) would be tax-free to GM and its stockholders for
U.S. federal income tax purposes. Delphi is the corporation to which GM recently
transferred the business and operations of its former Delphi Automotive Systems
sector.
In August 1998, GM announced its intention to pursue a series of
transactions that would result in Delphi becoming a fully independent,
publicly-traded company during 1999. The first of those transactions is
reflected in a registration statement which has been filed by Delphi with the
U.S. Securities and Exchange Commission concerning the proposed initial public
offering of its common stock, which is expected to be completed in the first
quarter of 1999. Delphi, based in Troy, Michigan, is a supplier of automotive
components, systems and modules.
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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 January 15, 1999
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By
s/Peter R. Bible
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(Peter R. Bible,
Chief Accounting Officer)
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