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FORM 8-K
CURRENT REPORT
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) OCTOBER 18, 1999
COMMISSION REGISTRANT; STATE OF INCORPORATION; IRS EMPLOYER
FILE NUMBER ADDRESS; AND TELEPHONE NUMBER IDENTIFICATION NO
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1-9513 CMS ENERGY CORPORATION 38-2726431
(A MICHIGAN CORPORATION)
FAIRLANE PLAZA SOUTH, SUITE 1100
330 TOWN CENTER DRIVE
DEARBORN, MICHIGAN 48126
(313) 436-9261
1-5611 CONSUMERS ENERGY COMPANY 38-0442310
(A MICHIGAN CORPORATION)
212 WEST MICHIGAN AVENUE
JACKSON, MICHIGAN
(517) 788-1030
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ITEM 5. OTHER EVENTS.
CMS Energy has announced that because of the currently low price of its
Common Stock it has identified an alternative way to improve its balance sheet
through the sale of non-strategic assets. The company has identified for
possible sale $1 billion of assets which are expected to contribute little or no
earnings benefit in the short to medium term and expects to sell $500 to $700
million of such assets by the end of the first quarter of 2000. The cash raised
in this manner should make further issuance of equity securities unnecessary in
the near future.
The company has also announced that Consumers Energy is making progress
in discussions with its major commercial and industrial customers which, if
successful, would result in agreement on the need for, and substance of,
electric restructuring legislation in Michigan and have the effect of resolving
Consumers Energy's major rate proceedings pending before the Michigan Public
Service Commission. While there are no assurances that an agreement or
legislation will result, the company is optimistic that a positive outcome of
the discussions can be achieved.
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SIGNATURES
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.
CMS ENERGY CORPORATION
Dated: October 18, 1999 By: /s/ William T. McCormick, Jr.
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William T. McCormick, Jr.
Chairman of the Board and
Chief Executive Officer
CONSUMERS ENERGY COMPANY
Dated: October 18, 1999 By: /s/ William T. McCormick, Jr.
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William T. McCormick, Jr.
Chairman of the Board