UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Spiros Development Corporation II, Inc. (SDCO)
(Name of Issuer)
Units
(Title of Class of Securities)
CUSIP No. 848935201
(CUSIP Number)
Thomas F. Steyer
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California
94111
(415)421-2132
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 8, 1998
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) 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 that Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 44 Pages
Exhibit Index Located on Page 35
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Partners, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
California
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 50,200
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
50,200
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
50,200
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.9 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
California
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 72,000
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
72,000
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
72,000
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
1.3 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners II, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
California
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 88,200
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
88,200
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
88,200
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
1.6 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners III, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
Delaware
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 173,200
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
173,200
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
173,200
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
3.1 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Tinicum Partners, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
New York
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 9,200
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
9,200
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
9,200
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.2 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Management, L.L.C.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
Delaware
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 127,700
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
127,700
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
127,700
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
2.3 %
- ---------======================================================================
14 Type of Reporting Person*
IA, 00
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Partners, L.L.C.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
Delaware
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 392,800
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
392,800
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
392,800
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
7.1 %
- ---------======================================================================
14 Type of Reporting Person*
00
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Enrique H. Boilini
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
Argentina
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 520,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
520,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
520,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
9.5 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
David I. Cohen
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
South Africa
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 520,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
520,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
520,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
9.5 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Joseph F. Downes
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 520,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
520,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
520,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
9.5 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Fleur E. Fairman
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 392,800
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
392,800
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
392,800
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
7.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jason M. Fish
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 520,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
520,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
520,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
9.5 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Andrew B. Fremder
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 520,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
520,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
520,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
9.5 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 14 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
William F. Mellin
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 520,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
520,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
520,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
9.5 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 15 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Stephen L. Millham
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 520,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
520,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
520,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
9.5 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 16 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Meridee A. Moore
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 520,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
520,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
520,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
9.5 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 17 of 44 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 848935201
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Thomas F. Steyer
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 520,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
520,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
520,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
9.5 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 18 of 44 Pages
<PAGE>
This Amendment No. 1 to Schedule 13D amends the Schedule 13D initially
filed on December 29, 1997 (collectively, with all amendments thereto, the
"Schedule 13D").
Item 2. Identity and Background.
The footnote to Item 2(a) of the Schedule 13D is amended and restated in
its entirety as follows:
1 Of the Units (and corresponding Shares) reported by FCMLLC on behalf of the
Managed Accounts, 43,500 Units (and such corresponding Shares) (equal to
approximately 0.8% of the total Units currently outstanding) are held by
The Absolute Return Fund of The Common Fund, a non-profit corporation whose
principal address is 450 Post Road East, Westport, Connecticut, 06881.
Item 3. Source and Amount of Funds and Other Consideration.
Item 3 of the Schedule 13D is amended and supplemented by the following:
For purposes of the Schedule 13D, all of the per Unit price is attributed
to the corresponding Share. The net investment cost (including commissions) is
$631,744 for the 37,600 Units (and corresponding Shares) acquired by FCP since
the filing of the prior Schedule 13D, $1,005,927 for the 59,900 Units (and
corresponding Shares) acquired by FCIP since the filing of the prior Schedule
13D, $41,937 for the 2,500 Units (and corresponding Shares) acquired by FCIP II
since the filing of the prior Schedule 13D, $28,487 for the 1,700 Units (and
corresponding Shares) acquired by FCIP III since the filing of the prior
Schedule 13D, $114,266 for the 6,800 Units (and corresponding Shares) acquired
by Tinicum since the filing of the prior Schedule 13D and $1,041,637 for the
62,000 Units (and corresponding Shares) acquired by the Managed Accounts since
the filing of the prior Schedule 13D.
The consideration for such acquisitions was obtained as follows: (i) with
respect to FCIP, FCIP II and FCIP III, from working capital; (ii) with respect
to the Managed Accounts, from the working capital of each Managed Account and/or
from borrowings pursuant to margin accounts maintained by some of the Managed
Accounts at Goldman Sachs & Co.; and (iii) with respect to
Page 19 of 44 Pages
<PAGE>
FCP and Tinicum, from working capital and/or from borrowings pursuant to margin
accounts maintained by FCP and Tinicum at Goldman Sachs & Co. FCP, Tinicum and
some of the Managed Accounts hold certain securities in their respective margin
accounts at Goldman Sachs & Co., and the accounts may from time to time have
debit balances. It is not possible to determine the amount of borrowings, if
any, used to acquire the Units (and corresponding Shares).
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is amended and restated in its entirety as follows:
A. Farallon Capital Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCP is incorporated herein by reference.
The percentage amount set forth in Row 13 of such cover page and
of each other cover page filed herewith as well as Footnote One
hereto is calculated based upon the 5,500,000 Units outstanding
as reported by the Company in the Prospectus filed by the Company
and Dura with the Securities and Exchange Commission pursuant to
Rule 424B1 on December 17, 1997.
(c) The trade dates, number of Units (and corresponding Shares) purchased
or sold and the price per Unit (and per Share) for all purchases and
sales of the Units (and corresponding Shares) since the filing of the
prior Schedule 13D are set forth on Schedule A hereto and are
incorporated herein by reference. All of such transactions were
open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCP,
including the disposition of the proceeds of the sale of the Units
(and corresponding Shares). Steyer is the senior managing member of
FPLLC, and Boilini, Cohen, Downes, Fairman, Fish, Fremder, Mellin,
Millham and Moore are managing members of FPLLC.
(e) Not applicable.
B. Farallon Capital Institutional Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCIP is incorporated herein by reference.
Page 20 of 44 Pages
<PAGE>
(c) The trade dates, number of Units (and corresponding Shares) purchased
or sold and the price per Unit (and per Share) for all purchases and
sales of the Units (and corresponding Shares) since the filing of the
prior Schedule 13D are set forth on Schedule B hereto and are
incorporated herein by reference. All of such transactions were
open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP,
including the disposition of the proceeds of the sale of the Units
(and corresponding Shares). Steyer is the senior managing member of
FPLLC and Boilini, Cohen, Downes, Fairman, Fish, Fremder, Mellin,
Millham and Moore are managing members of FPLLC.
(e) Not applicable.
C. Farallon Capital Institutional Partners II, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCIP II is incorporated herein by
reference.
(c) The trade dates, number of Units (and corresponding Shares) purchased
or sold and the price per Unit (and per Share) for all purchases and
sales of the Units (and corresponding Shares) since the filing of the
prior Schedule 13D are set forth on Schedule C hereto and are
incorporated herein by reference. All of such transactions were
open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP
II, including the disposition of the proceeds of the sale of the Units
(and corresponding Shares). Steyer is the senior managing member of
FPLLC and Boilini, Cohen, Downes, Fairman, Fish, Fremder, Mellin,
Millham and Moore are managing members of FPLLC.
(e) Not applicable.
D. Farallon Capital Institutional Partners III, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCIP III is incorporated herein by
reference.
(c) The trade dates, number of Units (and corresponding Shares) purchased
or sold and the price per Unit (and per Share) for all purchases and
sales of the Units (and corresponding Shares) since the filing of the
prior Schedule 13D are set forth on Schedule D hereto and are
incorporated herein by reference. All of such transactions were
open-market transactions.
Page 21 of 44 Pages
<PAGE>
(d) FPLLC as General Partner has the power to direct the affairs of FCIP
III, including the disposition of the proceeds of the sale of the
Units (and corresponding Shares). Steyer is the senior managing member
of FPLLC and Boilini, Cohen, Downes, Fairman, Fish, Fremder, Mellin,
Millham and Moore are managing members of FPLLC.
(e) Not applicable.
E. Tinicum Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Tinicum is incorporated herein by
reference.
(c) The trade dates, number of Units (and corresponding Shares) purchased
or sold and the price per Unit (and per Share) for all purchases and
sales of the Units (and corresponding Shares) since the filing of the
prior Schedule 13D are set forth on Schedule E hereto and are
incorporated herein by reference. All of such transactions were
open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of
Tinicum, including the disposition of the proceeds of the sale of the
Units (and corresponding Shares). Steyer is the senior managing member
of FPLLC and Boilini, Cohen, Downes, Fairman, Fish, Fremder, Mellin,
Millham and Moore are managing members of FPLLC.
(e) Not applicable.
F. Farallon Capital Management, L.L.C.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCMLLC is incorporated herein by reference.
(c) The trade dates, number of Units (and corresponding Shares) purchased
or sold and the price per Unit (and per Share) for all purchases and
sales of the Units (and corresponding Shares) by the Managed Accounts
since the filing of the prior Schedule 13D are set forth on Schedule F
hereto and are incorporated herein by reference. All of such
transactions were open-market transactions.
(d) FCMLLC, as an investment adviser, has the power to direct the
disposition of the proceeds of the sale of the Units (and
corresponding Shares) held by the Managed Accounts. Steyer is the
senior managing member of FCMLLC and Boilini, Cohen, Downes, Fish,
Fremder, Mellin, Millham and Moore are managing members of FCMLLC.
(e) Not applicable.
Page 22 of 44 Pages
<PAGE>
G. Farallon Partners, L.L.C.
(a), (b) The information set forth in rows 7, 8, 9, 10, 11, and 13 of the
cover page hereto for FPLLC is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). Steyer is the senior managing
member of FPLLC and Boilini, Cohen, Downes, Fairman, Fish, Fremder,
Mellin, Millham and Moore are managing members of FPLLC.
(e) Not applicable.
H. Enrique H. Boilini
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Boilini is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). FCMLLC, as an investment
adviser, has the power to direct the disposition of the proceeds of
the sale of the Units (and corresponding Shares) held by the Managed
Accounts. Boilini is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
I. David I. Cohen
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Cohen is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). FCMLLC, as an investment
adviser, has the power to direct the disposition of the proceeds of
the sale of the Units (and corresponding Shares) held by the Managed
Accounts. Cohen is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
Page 23 of 44 Pages
<PAGE>
J. Joseph F. Downes
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Downes is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). FCMLLC, as an investment
adviser, has the power to direct the disposition of the proceeds of
the sale of the Units (and corresponding Shares) held by the Managed
Accounts. Downes is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
K. Fleur E. Fairman
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fairman is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). Fairman is a managing member of
FPLLC.
(e) Not applicable.
L. Jason M. Fish
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fish is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). FCMLLC, as an investment
adviser, has the power to direct the disposition of the proceeds of
the sale of the Units (and corresponding Shares) held by the Managed
Accounts. Fish is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
Page 24 of 44 Pages
<PAGE>
M. Andrew B. Fremder
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fremder is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). FCMLLC, as an investment
adviser, has the power to direct the disposition of the proceeds of
the sale of the Units (and corresponding Shares) held by the Managed
Accounts. Fremder is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
N. William F. Mellin
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Mellin is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). FCMLLC, as an investment
adviser, has the power to direct the disposition of the proceeds of
the sale of the Units (and corresponding Shares) held by the Managed
Accounts. Mellin is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
O. Stephen L. Millham
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Millham is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). FCMLLC, as an investment
adviser, has the power to direct the disposition of the proceeds of
the sale of the Units (and corresponding Shares) held by the Managed
Accounts. Millham is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
Page 25 of 44 Pages
<PAGE>
P. Meridee A. Moore
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Moore is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). FCMLLC, as an investment
adviser, has the power to direct the disposition of the proceeds of
the sale of the Units (and corresponding Shares) held by the Managed
Accounts. Moore is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
Q. Thomas F. Steyer
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Steyer is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units (and corresponding Shares). FCMLLC, as an investment
adviser, has the power to direct the disposition of the proceeds of
the sale of the Units (and corresponding Shares) held by the Managed
Accounts. Steyer is the senior managing member of FCMLLC and FPLLC.
(e) Not applicable.
The Units (and corresponding Shares) reported hereby for the Partnerships
are owned directly by the Partnerships and those reported by FCMLLC on behalf of
the Managed Accounts are owned directly by the Managed Accounts. Each of
Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham, Moore and Steyer may be
deemed, as managing members of FPLLC and FCMLLC, to be the beneficial owner of
all such Units (and corresponding Shares). Each of FPLLC and Fairman, as a
managing member of FPLLC, may be deemed to be the beneficial owner of all such
Units (and corresponding Shares) owned by the Partnerships. FCMLLC may be deemed
to be the beneficial owner of all such Units (and corresponding Shares) owned by
the Managed Accounts. Each of FCMLLC, FPLLC, Boilini, Cohen, Downes, Fairman,
Fish, Fremder, Mellin, Millham, Moore and Steyer hereby disclaim any beneficial
ownership of any such Units (and corresponding Shares).
Page 26 of 44 Pages
<PAGE>
Item 7. Material to be Filed as Exhibits.
Filed herewith as Exhibit 1 to this Schedule 13D are Powers of Attorney
executed by each of Boilini, Cohen, Fairman, Fish, Fremder, Mellin, Millham,
Moore and Steyer authorizing Downes to sign and file Schedule 13Ds and related
documents on behalf of each Reporting Person who has executed such a Power of
Attorney.
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: January 20, 1998
/s/ Joseph F. Downes
FARALLON PARTNERS, L.L.C., on its own behalf and as
General Partner of FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.
and TINICUM PARTNERS, L.P.
by Joseph F. Downes,
Managing Member
/s/ Joseph F. Downes
FARALLON CAPITAL MANAGEMENT, L.L.C.
by Joseph F. Downes,
Managing Member
/s/ Joseph F. Downes
Joseph F. Downes, individually and as
attorney-in-fact for each of Enrique H.
Boilini, David I. Cohen, Fleur E.Fairman,
Jason M. Fish, Andrew B. Fremder,
William F. Mellin, Stephen L.Millham,
Meridee A. Moore, and Thomas F.Steyer.
The Powers of Attorney each executed by Boilini, Cohen, Fairman, Fish,
Fremder, Mellin, Millham, Moore and Steyer authorizing Downes to sign and file
this Schedule 13D on each person's behalf is being filed as Exhibit 1 to this
Schedule 13D.
Page 28 of 44 Pages
<PAGE>
SCHEDULE A
FARALLON CAPITAL PARTNERS, L.P.
NO. OF UNITS
(AND CORRESPONDING SHARES) PRICE
TRADE DATE PURCHASED PER UNIT(2)
(including commission)
12/29/97 1000 $16.75
12/30/97 8,600 $16.91
01/08/98 20,000 $16.75
01/12/98 3,500 $16.75
01/13/98 4,500 $16.87
2 For purposes of the Schedule 13D, all of the per Unit price is attributed
to the corresponding Share.
Page 29 of 44 Pages
<PAGE>
SCHEDULE B
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.
NO. OF UNITS
(AND CORRESPONDING SHARES) PRICE
TRADE DATE PURCHASED PER UNIT(2)
(including commission)
12/29/97 1,000 $16.75
12/30/97 10,900 $16.91
01/08/98 35,000 $16.75
01/12/98 6,200 $16.75
01/13/98 6,800 $16.87
2 For purposes of the Schedule 13D, all of the per Unit price is attributed
to the corresponding Share.
Page 30 of 44 Pages
<PAGE>
SCHEDULE C
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.
NO. OF UNITS
(AND CORRESPONDING SHARES) PRICE
TRADE DATE PURCHASED PER UNIT(2)
(including commission)
01/08/98 1,500 $16.75
01/12/98 500 $16.75
01/13/98 500 $16.87
2 For purposes of the Schedule 13D, all of the per Unit price is attributed
to the corresponding Share.
Page 31 of 44 Pages
<PAGE>
SCHEDULE D
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.
NO. OF UNITS
(AND CORRESPONDING SHARES) PRICE
TRADE DATE PURCHASED PER UNIT(2)
(including commission)
01/08/98 1,500 $16.75
01/12/98 100 $16.75
01/13/98 100 $16.87
2 For purposes of the Schedule 13D, all of the per Unit price is attributed
to the corresponding Share.
Page 32 of 44 Pages
<PAGE>
SCHEDULE E
TINICUM PARTNERS, L.P.
NO. OF UNITS
(AND CORRESPONDING SHARES) PRICE
TRADE DATE PURCHASED PER UNIT(2)
(including commission)
12/30/97 1,500 $16.91
01/08/98 3,500 $16.75
01/12/98 800 $16.75
01/13/98 1,000 $16.87
2 For purposes of the Schedule 13D, all of the per Unit price is attributed
to the corresponding Share.
Page 33 of 44
<PAGE>
SCHEDULE F
FARALLON CAPITAL MANAGEMENT, L.L.C.
NO. OF UNITS
(AND CORRESPONDING SHARES) PRICE
TRADE DATE PURCHASED PER UNIT(2)
(including commission)
12/29/97 500 $16.75
12/30/97 11,700 $16.91
01/08/98 30,000 $16.75
01/12/98 5,500 $16.75
01/13/98 6,000 $16.87
01/08/98 500 $16.75
01/12/98 100 $16.75
01/13/98 100 $16.87
12/30/97 2,300 $16.91
01/08/98 3,500 $16.75
01/12/98 800 $16.75
01/13/98 1,000 $16.87
2 For purposes of the Schedule 13D, all of the per Unit price is attributed
to the corresponding Share.
Page 34 of 44 Pages
<PAGE>
EXHIBIT INDEX
Exhibit 1 Powers of Attorney in favor of Joseph F. Downes
Page 35 of 44 Pages
<PAGE>
POWER OF ATTORNEY
The undersigned hereby appoints Joseph F. Downes his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Joseph F. Downes under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: December 16, 1997 Name: /s/ Enrique H. Boilini
Enrique H. Boilini
Page 36 of 44 Pages
<PAGE>
POWER OF ATTORNEY
The undersigned hereby appoints Joseph F. Downes his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Joseph F. Downes under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: December 16, 1997 Name: /s/ David I.Cohen
David I. Cohen
Page 37 of 44 Pages
<PAGE>
POWER OF ATTORNEY
The undersigned hereby appoints Joseph F. Downes her true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FPLLC, and granting
unto said attorney-in-fact and agent, full power and authority to do and perform
each and every act and thing which he might or could do in person, hereby
ratifying and confirming all that said attorney-in-fact and agent, may lawfully
do or cause to be done by virtue hereof. The authority of Joseph F. Downes under
this Power of Attorney shall continue with respect to the undersigned until the
undersigned is no longer required to File Schedule 13Ds or 13Gs unless revoked
earlier in writing.
Date: December 15, 1997 Name: /s/ Fleur E. Fairman
Fleur E. Fairman
Page 38 of 44 Pages
<PAGE>
POWER OF ATTORNEY
The undersigned hereby appoints Joseph F. Downes his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Joseph F. Downes under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: December 16 , 1997 Name: /s/ Jason M. Fish
Jason M. Fish
Page 39 of 44 Pages
<PAGE>
POWER OF ATTORNEY
The undersigned hereby appoints Joseph F. Downes his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Joseph F. Downes under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: December 22, 1997 Name: /s/ Andrew B. Fremder
Andrew B. Fremder
Page 40 of 44 Pages
<PAGE>
POWER OF ATTORNEY
The undersigned hereby appoints Joseph F. Downes his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Joseph F. Downes under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: December 16, 1997 Name: /s/ William F. Mellin
William F. Mellin
Page 41 of 44 Pages
<PAGE>
POWER OF ATTORNEY
The undersigned hereby appoints Joseph F. Downes his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Joseph F. Downes under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: December 16, 1997 Name: /s/ Stephen L. Millham
Stephen L. Millham
Page 42 of 44 Pages
<PAGE>
POWER OF ATTORNEY
The undersigned hereby appoints Joseph F. Downes her true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in her individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Joseph F. Downes under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: December 16, 1997 Name: /s/ Meridee A. Moore
Meridee A. Moore
Page 43 of 44 Pages
<PAGE>
POWER OF ATTORNEY
The undersigned hereby appoints Joseph F. Downes his true and lawful
attorney-in-fact and agent to execute and file with the Securities and Exchange
Commission any Schedule 13D, Schedule 13G, any amendments thereto or any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's position as managing member of FCMLLC and/or FPLLC,
and granting unto said attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing which he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, may lawfully do or cause to be done by virtue hereof. The authority of
Joseph F. Downes under this Power of Attorney shall continue with respect to the
undersigned until the undersigned is no longer required to File Schedule 13Ds or
13Gs unless revoked earlier in writing.
Date: December 16, 1997 Name: /s/ Thomas F. Steyer
Thomas F. Steyer
Page 44 of 44 Pages
