The General Properties panel is where you can quickly edit the visuals and position of an object.
Name
Name - This value is the name of the selected object. The button to the right will allow you to apply the name to all selected objects.
3D Shape
3D Shape - This option lets you change the 3D shape displayed by the object.
Color
Color - This option lets you change the color of the object.
Position
Position Reference Point - This option lets you change the point on the object from where the object's position will be calculated by the position fields in this panel. For more information see Position Reference Point
Position - These options lets you change x, y, and z positions of the object.
Rotation - These options lets you change x, y, and z rotations of the object.
Size - These options lets you change x, y, and z sizes of the object.
Rank
Rank - This option lets you change the rank of the object in the tree.
More Properties
MoreProperties - This button opens the full properties window of the object.
Position Reference Point
The Position Reference Point button 
will open a popup letting you specify the point on the object from where the object's position will be calculated by the position fields in this panel.
By default the position reference is set to the mid point at the bottom of the object. The position values displayed by Quick Properties are calculated from the bottom center of the object. If you set the position of the object to (0, 0, 0) the object will be centered at the origin of the model. If, however, you set the position reference to be one of the bottom corners and then set the position to (0, 0, 0) that corner of the object would be set at the origin.
Direct Spatials - The Direct Spatials option works differently than all the above options. Selecting this option will display the position of the object as the spatial values of the object stored by the software. These spatial values are calculated off the top left corner (when viewed from above) on the bottom of the object before any rotations are applied. Because this value is not very useful after an object has been rotated, this mode is not normally recommended.
This mode is useful when you want direct access to the values stored by the software, for example, when using the position of the object as an experimenter variable.
