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UNITED STAES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No._8__________)*
Jetronic Industries, Inc.
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(Name of Issuer)
Common
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(Title of Class of Securities)
477178108
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(CUSIP Number)
Robert L. Gipson
c/o Ingalls & Snyder LLC
61 Broadway
New York, NY 10006
(212) 269-7827
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 13, 2000
--------------------------------------------------------------------------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement of Schedule 13G to report
the acquisition which is the subject of the Schedule 13D, and is filing this
schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
*The remainder of this cover page shall be filed 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 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 the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following page(s))
<PAGE>
CUSIP No.477178108 13D
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert L. Gipson
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES 167,000 shares.
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 167,000 shares.
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
167,000 shares. See item 5.
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ingalls & Snyder Value Partners L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
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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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
<PAGE>
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ingalls & Snyder LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
NOT APPLICABLE
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BD, IA
--------------------------------------------------------------------------------
<PAGE>
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas O. Boucher, Jr.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
NOT APPLICABLE
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
<PAGE>
The following Items are amended and restated in their entirety:
Item 1. Security and Issuer
Common Stock, $0.10 par value per share ("Common Stock")
Jetronic Industries, Inc. (the "Company" or "Jetronic")
4200 Mitchell Street
Philadelphia, PA 19128
Item 2. Identity and Background
(a)Name:
Robert L. Gipson ("Gipson")
Thomas O. Boucher, Jr. ("Boucher")
Ingalls & Snyder Value Partners L.P., a New York limited partnership ("ISVP").
Ingalls & Snyder LLC, a New York limited liability company ("I&S LLC")
(b)Business address and principal office for the Reporting Persons:
c/o Ingalls & Snyder LLC
61 Broadway
New York, NY 10006
(c)Present principal occupation or employment and the name, principal
business and address where employment occurs.
Boucher and Gipson (the "General Partners") are the General Partners of ISVP.
Gipson is a limited partner of ISVP. Gipson is a stockbroker and a Senior
Director of I&S LLC. Boucher is also a stockbroker and a Managing Director
of I&S LLC. I&S LLC is a registered broker-dealer and investment advisor
registered with the Securities and Exchange Commission pursuant to the
Investment Advisers Act of 1940, as amended. The Managing Directors of
I&S LLC are as follows (the "Managing Directors"): Roscoe C. Ingalls, Jr.,
Lawton S. Lamb, W. Reed Simmons, D. Roger B. Liddell, Thomas O.
Boucher, Jr., John J. Dougherty, Steven M. Foote, Robert Belknap and Edward H.
Oberst. Each of the Managing Directors, other than Mr. Oberst, is a
stockbroker with I&S LLC. Mr. Oberst is the administrative officer of I&S
LLC. The principal business address of each of the Managing Directors is as
set forth in Item 2 (b). ISVP is an investment partnership and its
investments are managed on a discretionary basis by I&S LLC under an investment
advisory contract.
(d) & (e) Involvement in certain legal proceedings:
During the last five years, none of the Reporting Persons or the Managing
Directors have been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors). During the last five years, none of
such persons was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities
subject to, federal
or state securities laws or finding any violation with respect to such laws.
(f)Citizenship:
Each of the General Partners and the Managing Directors is a U.S. citizen.
Item 3. Source and Amount of Funds or Other Consideration.
Item 4. Purpose of Transaction
Jetronic Industries filed for protection under Chapter 11 of the United
States Bankruptcy Code on November 22, 2000. Boucher intends to seek a
seat on the Official Unsecured Creditor's Committee for Jetronic to represent
the interests of ISVP as a creditor of Jetronic and to participate in the
reorganization process.
Item 5. Interest in Securities of the Issuer
(a) Mr. Gipson is the beneficial owner of and has sole power to vote and
dispose of the 167,000 shares of Common Stock that he owns directly. These
shares constitute 4.5% of the outstanding common shares of Jetronic.
(c) On December 13, 2000 ISVP sold its 65,286 shares of Jetronic common stock
to an unaffiliated third party for total proceeds of $1.00 in a private
transaction. On December 19, 2000 ISVP sold its 306,493 shares of Jetronic
AA convertible preferred stock to unaffiliated third parties for total proceeds
of $1.00 in private transactions. On December 19, 2000 Gipson sold 128,000
shares of Jetronic common stock to two unaffiliated third parties for total
proceeds of $1.00 in private transactions.
(d) Not applicable.
(e) December 19, 2000
Item 6.Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
None
Item 7. Material to be Filed as Exhibits.
Exhibit 1
Incorporate by reference the original 13D of the parities and amendments 1
through 7 to that filing.
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: December 27, 2000
INGALLS & SNYDER VALUE PARTNERS, L.P.
By:/s/ Thomas O. Boucher, Jr.
Name: Thomas O. Boucher, Jr.
Title: General Partner
INGALLS & SNYDER LLC
By:/s/ Thomas O. Boucher, Jr.
Name: Thomas O. Boucher, Jr.
Title: Manager
/s/Thomas O. Boucher, Jr.
THOMAS O. BOUCHER, JR.
/s/ Robert L. Gipson
ROBERT L. GIPSON
(120496DTI)
