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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
California Coastal Communities, Inc.
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(Name of Issuer)
Common Stock, par value $0.05
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(Title of Class of Securities)
500434303
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(CUSIP Number)
June 30, 1998
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(Date of Event Which Requires
Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 the
disclosures provided in a prior cover page.
The information required in 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 the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. 50543403 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Credit Suisse First Boston, on behalf of the Credit Suisse
First Boston business unit
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Switzerland
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5 SOLE VOTING POWER
- 0 -
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,439,551 shares Common Stock, par value $0.05
EACH -----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH - 0 -
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8 SHARED DISPOSITIVE POWER
1,439,551 shares Common Stock, par value $0.05
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,439,551 shares Common Stock, par value $0.05
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.0%
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12 TYPE OF REPORTING PERSON*
BK, HC, OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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Item 1.
(a) Name of Issuer:
California Coastal Communities, Inc.
(b) Address of Issuer's Principal Executive Offices:
4343 Von Karman Avenue, Newport Beach, CA 92660
Item 2.
(a) Name of Person Filing:
Credit Suisse First Boston, on behalf of the Credit Suisse
First Boston business unit. See Schedule I.
(b) Address of Principal Business Office:
Uetlibergstrasse 231, P.O. Box 900, CH-8045 Zurich, Switzerland
(c) Citizenship:
Switzerland
(d) Title of Class of Securities:
Common Stock, par value $0.05
(e) CUSIP Number:
505434303
Item 3. If this statement is filed pursuant to rule 13d-1(b), or
13d-2(b) or (c), check whether the person filing is a(n):
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(15 U.S.C. 78o)
(b) [X] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c)
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act
(15 U.S.C. 78c)
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act (15 U.S.C. 80a-8)
(e) [ ] Person registered as an investment adviser under Section 203
of the Investment Advisers Act of 1940 (15 U.S.C. 80b-3) or
under the laws of any state.
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with Section 240.13d-1(b)(1)(ii)(F)
(g) [X] Parent Holding Company or Control Person in accordance
with Section 240.13d-1(b)(ii)(G)
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813)
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3)
(j) [ ] Group in accordance with Section 240.13d-1(b)(1)(ii)(J)
If this statement is filed pursuant to Section 240.13d-1(c),
check this box [ ]
Item 4. Ownership*
(a) Amount Beneficially Owned:
See response to Item 9 on the attached cover page
(b) Percent of Class:
12.0%
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(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
See response to Item 5 on the attached cover pages.
(ii) shared power to vote or to direct the vote:
See response to Item 6 on the attached cover pages.
(iii) sole power to dispose or to direct the disposition of:
See response to Item 7 on the attached cover pages.
(iv) shared power to direct the disposition of:
See response to Item 8 on the attached cover pages.
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person
N/A
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company*
See Schedule I
Item 8. Identification and Classification of Members of the Group
N/A
Item 9. Notice of Dissolution of Group
N/A
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in
the ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing the
control of the issuer of such securities and were not acquired and are
not held in connection with or as a participant in any transaction
having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Date: August 28, 1998 CREDIT SUISSE FIRST BOSTON, acting
solely on behalf of the Credit Suisse
First Boston business unit
By: /s/ William W. Chandler
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Name: William W. Chandler
Title: Director and Counsel
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Schedule I
This Amendment No. 1 to the Schedule 13G is being filed by Credit Suisse First
Boston (the "Bank"), a Swiss Bank, on behalf of itself and its consolidated
subsidiaries, to the extent that they constitute part of the Credit Suisse First
Boston business unit (the "CSFB business unit" or the "Reporting Person"). The
CSFB business unit is engaged in the corporate and investment banking, trading
(equity, fixed income and foreign exchange), private equity investment and
derivatives businesses on a worldwide basis. The Bank's registered head office
is located at Uetlibergstrasse 231, P.O. Box 900, CH-8045 Zurich, Switzerland.
The Bank and its consolidated subsidiaries engage in other separately managed
activities, most of which constitute the independently operated Credit Suisse
Asset Management business unit; the Credit Suisse Asset Management business unit
provides asset management and investment advisory services to institutional
investors worldwide.
Credit Suisse First Boston Corporation ("CSFBC"), a Massachusetts corporation, a
broker-dealer registered under Section 15 of the Securities Exchange Act of 1934
an indirect wholly owned subsidiary of the Bank, directly beneficially owns the
securities reported herein. The principal business office of CSFBC is 11 Madison
Avenue, New York, New York 10010.
The ultimate parent company of the Bank is Credit Suisse Group ("CSG"), a
corporation formed under the laws of Switzerland. The principal business of CSG
is acting as a holding company for a global financial services group with five
distinct specialized business units that are independently operated. In addition
to the two business units referred to above, CSG and its consolidated
subsidiaries (other than the Bank and its subsidiaries) are comprised of (a) the
Credit Suisse Private Bank business unit that engages in global private banking
business; (b) the Credit Suisse business unit that engages in the Swiss domestic
banking business and (c) the Winterthur business unit that engages in the global
insurance business. CSG's business address is: Nuschelerstrasse 1, CH-8070,
Zurich, Switzerland.
CSG, for purposes of federal securities laws, may be deemed ultimately to
control the Bank, and the CSFB business unit. CSG, its executive officers and
directors, and its direct and indirect subsidiaries (including all of the
business units except the CSFB business unit), may beneficially own shares of
Common Stock, and such shares are not reported in this statement. Due to the
separate management and independent operation of its business units, CSG
disclaims beneficial ownership of shares of Common Stock beneficially owned by
its direct and indirect subsidiaries, including the Reporting Person. The
Reporting Person disclaims beneficial ownership of shares of Common Stock
beneficially owned by CSG and any of CSG's and the Bank's other business units.
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