UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
September 5, 2001 (August 29, 2001)
COMMISSION FILE NUMBER 2-64413
_______________________
RMI COVERED HOPPER RAILCAR MANAGEMENT PROGRAM 79-1
(Exact name of registrant as specified in its charter)
CALIFORNIA 94-2645847
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
120 MONTGOMERY STREET
SUITE 1350, SAN FRANCISCO, CA 94104
(Address of principal (Zip code)
executive offices)
Registrant's telephone number, including area code (415) 445-3201
_______________________
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On August 29, 2001, the Manager, PLM Investment Management, Inc. engaged
Deloitte & Touche LLP, or D&T, as the Program's principal independent auditors.
On August 30, 2001, the Manager dismissed KPMG LLP, or KPMG, as the principal
independent auditors. The decision to change auditors was recommended by the
management of the Manager.
KPMG's reports on the Program's financial statements for fiscal years ended
December 31, 2000 and 1999 do not contain an adverse opinion or a disclaimer of
opinion nor were such reports qualified or modified as to uncertainty, audit
scope, or accounting principles, except as to prepare the financial statements
to present the revenues collected and expenses paid and other changes in cash
pursuant to the Program's Management Agreement with the Manager.
During the Program's fiscal years ended December 31, 1999 and 2000 and through
the subsequent interim period to August 30, 2001, there were no disagreements
with KPMG on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure that, if not resolved to
KPMG's satisfaction, would have caused KPMG to make reference to the subject
matter of the disagreements in connection with its report. During that time,
there were no reportable "events" as listed in Item 304(a)(1)(v) of Regulation
S-K.
During the Program's fiscal years ended December 31, 1999 and 2000 and through
the subsequent interim period to August 30, 2001, the Manager Partner did not
consult with D&T regarding any of the matters specified in Item 304(a)(2) of
Regulation S-K.
We have provided KPMG a copy of this Form 8-K prior to its filing with the
Securities and Exchange Commission (the "Commission"). KPMG has provided us
with a letter, addressed to the Commission, which is filed as Exhibit 16.1 to
this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(c) Exhibits:
16.1 Letter from KPMG to the Securities and Exchange Commission, dated
September 5, 2001.
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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 thereunto duly authorized.
RMI COVERED HOPPER RAILCAR
MANAGEMENT PROGRAM 79-1
By: PLM Investment Management, Inc.
Manager
By: /s/ Stephen M. Bess
----------------------
Stephen M. Bess
President and
Current Chief Accounting Officer
Date: September 5, 2001
EXHIBIT INDEX
Exhibit Designation Nature of Exhibit
- -------------------- -------------------
16.1 Letter from KPMG to the Securities and
Exchange Commission, dated September 5, 2001
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