-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PGrGgQ9NwWOjU4tNVFYwnmG4oQ/LbcxEWGY4BmBMPWcKIng7fB6HSnnPtO0oXcu3 7w7+rALoTTo3uiWkBMbvlg== 0000922423-97-001007.txt : 19971211 0000922423-97-001007.hdr.sgml : 19971211 ACCESSION NUMBER: 0000922423-97-001007 CONFORMED SUBMISSION TYPE: PX14A6G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19971210 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL MOTORS CORP CENTRAL INDEX KEY: 0000040730 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] IRS NUMBER: 380572515 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: PX14A6G SEC ACT: SEC FILE NUMBER: 001-00143 FILM NUMBER: 97735947 BUSINESS ADDRESS: STREET 1: 100 RENAISSANCE CTR STREET 2: 3044 W GRAND BLVD CITY: DETROIT STATE: MI ZIP: 48202-3091 BUSINESS PHONE: 3135565000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STONINGTON MANAGEMENT CORP CENTRAL INDEX KEY: 0001048445 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133798650 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: PX14A6G BUSINESS ADDRESS: STREET 1: 712 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212506299 MAIL ADDRESS: STREET 1: 712 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 PX14A6G 1 NOTICE OF EXEMPT SOLICITATION Section 240.14a-103 Notice of Exempt Solicitation. Information to be included in statements submitted by or on behalf of a person pursuant to Section 240.14a-6(g) Notice of Exempt Transaction 1. Name of Registrant: General Motors Corp. - -------------------------------------------------------------------------------- 2. Name of Person relying on exemption: Stonington Management Corporation - -------------------------------------------------------------------------------- 3. Address of person relying on the exemption: 712 Fifth Avenue, New York, NY 10019 - -------------------------------------------------------------------------------- 4. Written materials. Attach written material required to be submitted pursuant to Rule 14a-6(g)(1). See Exhibit 1 attached hereto and incorporated herein by reference. EXHIBIT 1 STONINGTON MANAGEMENT CORPORATION 712 FIFTH AVENUE NEW YORK, NEW YORK 10019 -- TEL. (212) 974-6000 FAX: (212) 974-2092 December 5, 1997 Via Fax and FedEx - ----------------- Mr. Michael T. Smith, Chairman Hughes Electronics Corporation 7200 Hughes Terrace Westchester, CA. 90045-0066 Fax No. 310-417-2840 Dear Mr. Smith: A number of people have told us that, in the teleconference you conducted yesterday to solicit shareholder consents from Hughes employees, you made several statements regarding my firm, including that (i) my firm is short ordinary GM common stock, (ii) as such we stand to gain financially by a drop in the price of ordinary GM common stock, and (iii) we are betting that ordinary GM shares will drop in price if the 120% Provision in GM's charter is honored rather than (as GM seeks) abrogated. You also reportedly stated during the teleconference that my firm has lost money by shorting ordinary GM shares and that our opposition to GM's pending proposal is simply motivated by our resulting disgruntlement. Your statements were false, and you had no basis for making them. We are not now, and at no point during the solicitation process have we been, short ordinary GM shares. Nor have we lost money by shorting ordinary GM shares. We therefore make the following demand of you personally, of Hughes Electronics Corporation, and (by copy of this letter to GM's general counsel) of GM: Immediately (i) retract in writing the foregoing misstatements; (ii) disseminate that retraction to all Hughes employees (whether or not they attended yesterday's teleconference); (iii) advise all Hughes employees that they have the right to change their vote, and provide them with the form and adequate time for doing so; (iv) provide us with copies of the foregoing material; and (v) if you or others acting on behalf of GM have made similar misstatements to any other persons, take appropriate steps to rectify that error and provide us with all materials used for that purpose. Please let us know by noon on Monday, December 8, whether and when you will be complying with this demand. The foregoing is without prejudice to any other relief available to us. Very truly yours, Mark D. Brodsky Portfolio Manager cc (by fax and FedEx): Thomas A. Gottschalk, Esq. Senior Vice President and General Counsel General Motors Corporation 3031 W. Grand Boulevard Detroit, MI 48202-3091 Fax 313-556-5108 -----END PRIVACY-ENHANCED MESSAGE-----