SC 13D 1 dsc13d.htm SCHEDULE 13D Schedule 13D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

 

 

Under The Securities Exchange Act of 1934

 

 

 

 

General Motors Corporation

(Name of Issuer)

 

 

Common Stock, par value $1-2/3 per share

(Title of Class of Securities)

 

 

370442105

(CUSIP Number)

 

 

Richard Sobelle, Esq.

Tracinda Corporation

150 South Rodeo Drive, Suite 250

Beverly Hills, CA 90212

(310) 271-0638

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

 

June 7, 2005

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ¨

 

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 370442105

 

  1.  

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).

 

            Tracinda Corporation

    
  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  ¨

    
  3.  

SEC Use Only

 

    
  4.  

Source of Funds (See Instructions)

 

            WC

    
  5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

   ¨
  6.  

Citizenship or Place of Organization

 

            Nevada

    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  

  7.    Sole Voting Power

 

                33,147,452

  8.    Shared Voting Power

 

                7,613,700

  9.    Sole Dispositive Power

 

                33,147,452

10.    Shared Dispositive Power

 

                7,613,700

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            40,761,152

    
12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

            7.2% *

    
14.  

Type of Reporting Person (See Instructions)

 

            CO

    

 

* Percentage calculated on the basis of 565,476,036 shares of common stock issued and outstanding on April 30, 2005, as set forth in General Motors’ Form 10-Q filed on May 10, 2005, for the period ending March 31, 2005.

 

2

CUSIP No. 370442105

 

  1.  

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).

 

            Kirk Kerkorian

    
  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  ¨

    
  3.  

SEC Use Only

 

    
  4.  

Source of Funds (See Instructions)

 

            N/A

    
  5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

   ¨
  6.  

Citizenship or Place of Organization

 

            United States

    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  

  7.    Sole Voting Power

 

                40,761,152

  8.    Shared Voting Power

 

  9.    Sole Dispositive Power

 

                40,761,152

10.    Shared Dispositive Power

 

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            40,761,152

    
12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

            7.2% *

    
14.  

Type of Reporting Person (See Instructions)

 

            IN

    

 

* Percentage calculated on the basis of 565,476,036 shares of common stock issued and outstanding on April 30, 2005, as set forth in General Motors’ Form 10-Q filed on May 10, 2005, for the period ending March 31, 2005.

 

3

CUSIP No. 370442105

 

  1.  

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).

 

            250 Rodeo, Inc.

    
  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  ¨

    
  3.  

SEC Use Only

 

    
  4.  

Source of Funds (See Instructions)

 

            WC

    
  5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

   ¨
  6.  

Citizenship or Place of Organization

 

            Delaware

    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  

  7.    Sole Voting Power

 

                7,613,700

  8.    Shared Voting Power

 

  9.    Sole Dispositive Power

 

                7,613,700

10.    Shared Dispositive Power

 

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            7,613,700

    
12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

            1.3% *

    
14.  

Type of Reporting Person (See Instructions)

 

            CO

    

 

* Percentage calculated on the basis of 565,476,036 shares of common stock issued and outstanding on April 30, 2005, as set forth in General Motors’ Form 10-Q filed on May 10, 2005, for the period ending March 31, 2005.

 

4

Item 1. Security and Issuer

 

This Schedule 13D relates to the common stock, par value $1-2/3 per share of General Motors Corporation, which has its principal executive office at 300 Renaissance Center, Detroit, Michigan 48265.

 

Item 2. Identity and Background

 

This Schedule is being filed on behalf of Kirk Kerkorian, Tracinda Corporation, a Nevada corporation wholly owned by Mr. Kerkorian, and 250 Rodeo Inc., a Delaware corporation wholly owned by Mr. Kerkorian and Tracinda (collectively, the “Filing Persons”). Tracinda and 250 Rodeo are both principally engaged in the business of buying, selling and holding selected equity securities.

 

The principal business address for both Tracinda and 250 Rodeo is 150 South Rodeo Drive, Suite 250, Beverly Hills, California 90212. During the past five years, neither Tracinda nor 250 Rodeo (i) has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors), and (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

(a) Mr. Kerkorian is the Chief Executive Officer and sole director of Tracinda and 250 Rodeo. Tracinda’s and 250 Rodeo’s other executive officer is Anthony L. Mandekic.

 

(b) Mr. Kerkorian’s and Mr. Mandekic’s business address is 150 South Rodeo Drive, Suite 250, Beverly Hills, California 90212.

 

(c) Mr. Kerkorian’s principal occupation or employment is serving as Tracinda’s principal executive officer. In addition, Mr. Kerkorian is a director of MGM MIRAGE, a Delaware corporation principally engaged in the lodging and gaming business. Mr. Kerkorian beneficially owns, through Tracinda, 158,392,864 shares of common stock of MGM MIRAGE, or approximately 55% of such outstanding common stock. MGM MIRAGE has its principal executive offices at 3600 Las Vegas Boulevard, Las Vegas, Nevada 89109.

 

Mr. Mandekic’s principal occupation or employment is, and has been for more than five years, serving as Secretary and Treasurer of Tracinda.

 

(d) – (e) During the last five years, neither Mr. Kerkorian nor Mr. Mandekic (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

(f) Mr. Kerkorian and Mr. Mandekic are both United States citizens.

 

5

Item 3. Source and Amount of Funds or Other Consideration

 

The purchase price for the 40,761,152shares of common stock (the “shares”) beneficially owned by the Filing Persons was funded from cash and cash equivalents on hand.

 

Item 4. Purpose of Transaction

 

The Filing Persons acquired the shares for investment purposes and do not have a present intent to acquire or influence control over the business of General Motors. The Filing Persons may, from time to time, acquire additional shares or dispose of some or all of their shares or may continue to hold the shares, depending on business and market conditions, their continuing evaluation of the business and prospects of General Motors and other factors. Other than as set forth in this Item 4, the Filing Persons do not have any current plans, proposals or negotiations that relate to or would result in any of the matters referred to in paragraphs (a) through (j) of Item 4 of Schedule 13D.

 

Item 5. Interest in Securities of the Issuer

 

(a) – (b) The following table sets forth information with respect to the shares beneficially owned by each person or entity named in Item 2 hereof. Mr. Kerkorian has sole voting and investment power with respect to the shares held by the Filing Persons.

 

Name

  

Number of Shares

  

Percent of Outstanding(1)

Tracinda Corporation   40,761,152   7.2%
250 Rodeo, Inc.   7,613,700   1.3%
Kirk Kerkorian   40,761,152   7.2%
Anthony L. Mandekic   -0-   0%
(1)  * Computed on the basis of 565,476,036 shares of common stock issued and outstanding on April 30, 2005, as set forth in General Motors’ Form 10-Q filed on May 10, 2005, for the period ending March 31, 2005.

 

(c) The table included in Appendix A sets forth transactions in shares by Tracinda and 250 Rodeo during the past 60 days. All such transactions, other than the purchase of 18,761,152 shares, pursuant to Tracinda’s Offer to Purchase common stock of General Motors filed on Schedule TO on May 9, 2005, were effected in the open market. In addition, an additional 165,405 shares were tendered in such offer pursuant to notices of guaranteed deliveries. The guarantors failed to deliver these shares.

 

(d) Except as described in Item 6, No person other than the Filing Persons has the right to receive or power to direct the receipt of dividends from, or the proceeds of the sale of any of the shares.

 

(e) Not applicable.

 

6

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

 

Tracinda has entered into consulting and value sharing agreements with Jerome York. Copies of the consulting and value sharing agreements are attached hereto as Exhibits 1 and 2 and incorporated herein by reference.

 

Except as described above, there are no contracts, arrangements, understanding or relationships (legal or otherwise) among the persons named in Item 2 hereof and between such persons and any other person with respect to any securities of the Company, including but not limited to transfer or voting of any such securities, finder’s fees, joint ventures, loan or option arrangements, put or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

 

Item 7. Material to Be Filed as Exhibits

 

Exhibit No.
  

Description

1   Agreement for Services dated as of April 19, 2005 between Jerome York and Tracinda Corporation
2   Value Sharing Agreement dated as of April 19, 2005 between Jerome York and Tracinda Corporation

 

7

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

June 17, 2005

 

TRACINDA CORPORATION

By:  

/S/ Anthony L. Mandekic

   

Anthony L. Mandekic

Secretary/Treasurer

KIRK KERKORIAN

By:  

/S/ Anthony L. Mandekic

   

Anthony L. Mandekic

Attorney-in-Fact *

250 RODEO, INC.

By:  

/S/ Anthony L. Mandekic

   

Anthony L. Mandekic

Secretary/Treasurer

* Power of Attorney previously filed as Exhibit (i) to Schedule TO/A, filed by Tracinda Corporation on May 26, 2005.

 

8

Appendix A

 

The following table sets forth transactions in General Motors shares by Tracinda and 250 Rodeo during the last 60 days. Except for those 18,761,152 shares that were purchased pursuant to Tracinda’s Offer to Purchase General Motors shares filed under Schedule TO on May 9, 2005 (see below), all transactions were effected in the open market.

 

Tracinda Corporation

 

Date

   No. of Shares
   Price per Share
           

4/22/05

   88   $ 25.86
    6,525     25.88
    13,227     25.90
    3,354     25.95
    5,291     25.96
    2,381     26.00
    96,998     26.20
    22,045     26.21
    48,500     26.27
    88,180     26.30
    26,454     26.31
    44,090     26.36
    83,795     26.45
    35,272     26.47
    68,780     26.51
    248,668     26.60
    83,771     26.61
    214,277     26.63
    12,345     26.64
    450,688     26.65
    156,079     26.66
    230,943     26.67
    123,452     26.68
    126,097     26.77

4/25/05

   21,200     26.03
    8,800     26.04
    15,000     26.05
    2,600     26.08
    22,500     26.09
    38,500     26.10
    16,000     26.11
    28,100     26.12
    27,100     26.13
    17,000     26.14
    34,900     26.15
    20,500     26.17
    37,000     26.18
    117,000     26.19
    663,400     26.20
    19,600     26.22
    22,100     26.23
    9,400     26.24
    67,100     26.25

 

1

Tracinda Corporation

 

Date

   No. of Shares
   Price per Share
    5,000   $ 26.26
    800     26.27
    7,700     26.29
    21,100     26.30
    13,200     26.31
    9,600     26.32
    8,900     26.34
    79,200     26.35
    21,000     26.36
    300     26.37
    1,900     26.38
    24,400     26.39
    43,100     26.40
    9,900     26.41
    8,700     26.42
    21,000     26.43
    9,000     26.44
    41,300     26.45
    47,800     26.46
    23,800     26.47
    41,900     26.48
    10,000     26.49
    27,600     26.50
    25,000     26.57
    11,600     26.59
    55,700     26.60
    22,500     26.61
    200     26.62
    71,000     26.63
    3,700     26.67
    61,300     26.70
    70,800     26.73
    238,200     26.74
    151,000     26.75

4/26/05

   1,800     26.25
    18,200     26.26
    5,000     26.27
    400     26.28
    4,600     26.29
    10,700     26.30
    73,200     26.31
    35,300     26.34
    5,500     26.35
    10,000     26.39
    239,000     26.40
    32,900     26.42
    187,000     26.43
    83,000     26.44

 

2

Tracinda Corporation

 

Date

   No. of Shares
   Price per Share
    411,800   $ 26.45
    13,600     26.46
    35,300     26.47
    35,000     26.48
    9,800     26.49
    1,059,100     26.50
    605,700     26.51
    21,700     26.52
    25,400     26.53
    97,000     26.55

4/27/05

   5,000     26.25
    43,700     26.27
    5,000     26.28
    5,400     26.30
    500     26.31
    22,700     26.32
    50,400     26.33
    174,200     26.34
    242,600     26.35
    168,100     26.36
    28,300     26.37
    117,500     26.38
    28,500     26.39
    534,500     26.40
    18,200     26.41
    307,200     26.50
    246,300     26.55
    37,100     26.56
    7,800     26.57
    5,000     26.70
    8,000     26.71
    31,000     26.72
    1,400     26.73
    12,900     26.74
    172,600     26.75
    7,000     26.79
    177,800     26.80

4/28/05

   5,000     26.39
    1,800     26.42
    37,200     26.43
    41,700     26.44
    199,400     26.45
    39,900     26.46
    29,700     26.47
    50,000     26.48
    31,600     26.49
    503,000     26.50
    20,000     26.52

 

3

Tracinda Corporation

 

Date

   No. of Shares
   Price per Share
    80,000   $ 26.53
    15,500     26.54
    74,500     26.55
    11,100     26.61
    49,600     26.62
    33,700     26.64
    63,400     26.65
    200     26.66
    51,000     26.67
    14,000     26.69
    217,300     26.70
    4,400     26.71
    162,000     26.72
    167,300     26.73
    150,000     26.75
    3,600     26.77
    8,500     26.78
    23,900     26.79

4/29/05

   14,800     26.55
    50,000     26.58
    25,200     26.60
    7,900     26.61
    900     26.62
    64,400     26.63
    63,600     26.64
    55,500     26.65
    32,700     26.66
    6,000     26.68
    509,000     26.70
    25,000     26.75
    315,000     26.80
    14,600     26.83

5/2/05

   25,000     26.76
    149,500     26.85
    11,000     26.86
    12,000     26.88
    140,400     26.90
    9,700     26.94
    11,800     26.96
    18,500     26.97
    12,400     26.98
    15,300     26.99
    259,800     27.00
    78,000     27.13
    56,600     27.16

5/3/05

   41,000     27.48
    3,800     27.49
    220,600     27.50

6/13/05

   18,488,831     31.00

* 6/14/05

   259,013     31.00

* 6/15/05

   13,308     31.00

 

* On June 14 and June 15, 2005 Tracinda purchased 272,321 shares which were tendered in the tender offer pursuant to delivery guarantees. Such shares were delivered after June 13, 2005.

 

4

250 Rodeo, Inc.

 

Date

   No. of Shares
   Price per Share

4/19/05

   2,600   $ 24.85
    56,400     24.89
    41,000     25.04
    10,000     25.05
    6,200     25.12
    1,700     25.14
    4,000     25.15
    46,200     25.16
    3,800     25.17
    11,200     25.18
    84,300     25.20
    12,600     25.21
    8,300     25.22
    3,400     25.31
    8,900     25.35
    5,100     25.39
    59,400     25.40
    28,900     25.41
    2,100     25.42
    10,300     25.45
    1,200     25.46
    3,900     25.47
    32,200     25.48
    21,400     25.49
    133,200     25.50
    9,400     25.51
    2,500     25.52
    28,000     25.53
    55,800     25.54
    4,200     25.57
    9,000     25.60
    200     25.61
    74,800     25.64
    47,800     25.65
    32,200     25.67
    25,700     25.68
    49,000     25.70
    23,100     25.72
    100     25.77
    21,400     25.83
    19,400     25.84
    70,400     25.85
    25,900     25.86
    57,400     25.87
    21,100     25.88
    6,800     25.89
    98,500     25.90
    17,000     25.91

 

5

250 Rodeo, Inc.

 

Date

   No. of Shares
   Price per Share
    98,300   $ 25.92
    50,500     25.93
    34,400     25.94
    5,000     25.95
    21,500     25.96
    53,500     25.97
    20,500     25.98
    81,000     25.99
    433,100     26.00

4/20/05

   10,000     25.35
    4,900     25.40
    10,900     25.45
    2,900     25.46
    85,500     25.50
    2,800     25.52
    11,100     25.53
    3,500     25.54
    22,600     25.56
    2,300     25.59
    10,500     25.60
    3,900     25.66
    5,000     25.67
    19,300     25.68
    40,400     25.69
    287,800     25.70
    126,600     25.71
    49,000     25.72
    4,100     25.73
    54,800     25.74
    138,800     25.75
    100     25.76
    27,400     25.77
    46,500     25.78
    6,400     25.79
    462,900     25.80
    45,100     25.81
    40,200     25.82
    2,300     25.83
    17,900     25.84
    82,100     25.85
    10,400     25.86
    21,700     25.87
    28,300     25.88
    200     25.89
    135,000     25.90
    32,200     25.91
    44,300     25.92
    23,000     25.93

 

6

250 Rodeo, Inc.

 

Date

   No. of Shares
   Price per Share
    23,700   $ 25.94
    114,000     25.95
    19,100     25.96
    34,900     25.97
    46,400     25.98
    5,400     25.99
    490,700     26.00

4/21/05

   25,900     25.60
    31,000     25.61
    1,300     25.62
    1,400     25.63
    25,000     25.64
    5,900     25.65
    40,000     25.66
    47,900     25.67
    60,700     25.68
    63,400     25.69
    74,600     25.70
    24,900     25.71
    15,200     25.72
    4,800     25.73
    14,300     25.74
    343,800     25.75
    5,300     25.77
    17,300     25.79
    3,600     25.80
    14,700     25.81
    300     25.82
    14,600     25.83
    2,500     25.84
    19,800     25.85
    1,100     25.88
    34,200     25.90
    13,100     25.91
    256,300     25.95
    121,000     25.97
    541,000     25.98
    108,300     26.00
    355,000     26.06
    279,100     26.25

4/22/05

   12     25.86
    875     25.88
    1,773     25.90
    446     25.95
    709     25.96
    319     26.00
    13,002     26.20
    2,955     26.21

 

7

250 Rodeo, Inc.

 

Date

   No. of Shares
   Price per Share
    6,500   $ 26.27
    11,820     26.30
    3,546     26.31
    5,910     26.36
    11,205     26.45
    4,728     26.47
    9,220     26.51
    33,332     26.60
    11,229     26.61
    28,723     26.63
    1,655     26.64
    60,412     26.65
    20,921     26.66
    30,957     26.67
    16,548     26.68
    16,903     26.77

 

8