UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ____)*1
FALCON CABLE SYSTEMS COMPANY
- ------------------------------------------------------------------------------
(Name of Issuer)
UNITS OF LIMITED PARTNERSHIP INTEREST
- ------------------------------------------------------------------------------
(Title of Class of Securities)
305902108
- ------------------------------------------------------------------------------
(CUSIP Number)
Unofficial Unitholder Oversight Committee
of Falcon Cable Systems Company
c/o Abner B. Kurtin, The Baupost Group, Inc.
44 Brattle Street, P.O. Box 389125
Cambridge, Massachusetts 02238-9125
Tel.: (617) 497-6680
with a copy to:
Charles H. Baker, Esq.
Battle Fowler LLP
75 East 55th Street
New York, New York 10022
Tel.: (212) 856-7000
- ------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
January 29, 1996
- ------------------------------------------------------------------------------
(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 / /.
Check the following box if a fee is being paid with the statement /X/.
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securitiesfdescribedbin Item 1;eand (2) hasafiledtn
tamendmentesubsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7.)
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
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
- --------
1 This initial filing on Schedule 13D, filed on behalf of the collective
reporting persons hereunder, amends the Schedule 13D of Cumberland
Associates, dated May 20, 1993 and filed with the Commission on May 21,
1993.
330465.3
<PAGE>
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CUSIP No. 305902108 SCHEDULE 13D Page 2 of 64 Pages
- ---------------------- ---------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Cumberland Associates
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC & OO
- ------------------------------------------------------------------------------
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 POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
--------------------------------------------------------------
8 SHARED VOTING POWER2
None
--------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
349,300
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
18,900
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
368,200
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11)2
5.75%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
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CUSIP No. 305902108 SCHEDULE 13D Page 3 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard Reiss, Jr.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF & OO
- -------------------------------------------------------------------------------
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 POWER2
8,200
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
368,200
---------------------------------------------------------------
9 DISPOSITIVE POWER2
8,200
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
368,200
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
376,400
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
5.9%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- -----------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 4 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Andrew Wallach
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF & OO
- -------------------------------------------------------------------------------
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 POWER2
2,500
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
--------------------------------------------------------------
8 SHARED VOTING POWER2
368,200
--------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
2,500
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
368,200
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
370,700
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
5.8%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- ------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 5 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
K. Tucker Andersen
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 State
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
368,200
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
368,200
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
368,200
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
5.75%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- ---------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- ---------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 6 of 64 Pages
- ---------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Oscar S. Schafer
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS EQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
368,200
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
368,200
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
368,200
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
5.75%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- -------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- ---------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 7 of 64 Pages
- ---------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bruce G. Wilcox
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS EQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
368,200
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
368,200
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
368,200
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
5.75%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- -------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 8 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eleanor Poppe
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZA ION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
368,200
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
368,200
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
368,200
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X/
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
5.75%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- -----------------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 9 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Glenn Krevlin
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 POWER2
None
NUMBER OF
SHARES
BENEFICIA LY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
368,200
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
368,200
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
368,200
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
5.75%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- ---------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 10 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Baupost Group, Inc.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC & OO
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
- -------------------------------------------------------------------------------
7 SOLE VOTING P WER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
500,200
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
500,200
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
500,200
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
7.8%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO & IA
- -------------------------------------------------------------------------------
- -------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 11 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Baupost Partners
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC & OO
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
341,400
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
341,400
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
341,400
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 b low.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
5.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN & IA
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 12 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Seth A. Klarman
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
500,200
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
500,200
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
500,200
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X/
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
7.8%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
[IN]
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 13 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harvest Capital, L.P.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
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 POWER2
83,900
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
None
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
83,900
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
None
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
83,900
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
1.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 14 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harvest Investment Management, Inc.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC & OO
- -------------------------------------------------------------------------------
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 POWER2
67,300
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
18,800
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
67,300
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
18,800
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
86,100
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
1.35%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
- ---------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 15 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pine Harvest Partners, L.P.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
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 POWER2
18,800
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
None
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
18,800
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
None
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
18,800
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY MOUNT IN ROW (11)2
0.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 16 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harvest Advisors, L.L.C.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
18,800
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
18,800
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
18,800
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
0.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 17 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LDB Corp.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
83,900
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
83,900
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
83,900
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
1.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 18 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Laurence D. Belfer
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
83,900
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
83,900
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
83,900
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN R W (11)2
1.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 19 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J. Morgan Rutman
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
83,900
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
83,900
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
83,900
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
1.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 20 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Marjorie Gochberg Kellner
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
83,900
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
83,900
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
83,900
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
1.3%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 21 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tweedy, Browne Company L.P. ("TBC")
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 POWER2
TBC has sole voting power with respect to 264,320 Units
NUMBER OF held in accounts over which TBC has investment discretion.
SHARES Additionally certain general partners of TBC may be deemed
BENEFICIALLY to have sole power to vote certain Units as more fully
OWNED BY set forth herein.
EACH
REPORTING ----------------------------------------------------------------
PERSON WITH 8 SHARED VOTING POWER2
None
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None, except that certain of the general partner of TBC may
be deemed to have sole power to dispose of certain Units
as more fully set forth herein.
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
290,040 Units held in accounts of TBC.
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
290,040
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
4.5%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN, BD & IA
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 22 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Christopher H. Browne
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 VOTIN POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
264,320
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
290,040
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
290,040
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
4.5%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 21 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William H. Browne
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
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 POWER2
None
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
264,320
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
290,040
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
290,040
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X/
See footnote 2 below
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
4.5%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- -------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 24 of 64 Pages
- --------------------- ----------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John D. Spears
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
5 HECK 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 POWER2
None
NUMBER OF
SHARE
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
264,320
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
None
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
290,040
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
290,040
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BYTYPEUOF REPORTING1PERSON*
4.5%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
- --------------------- ----------------------
CUSIP No. 305902108 SCHEDULE 13D Page 25 of 64 Pages
- --------------------- ----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Arthur Zankel
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF & OO
- -------------------------------------------------------------------------------
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 POW R2
50,000
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
---------------------------------------------------------------
8 SHARED VOTING POWER2
39,500
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER2
50,000
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER2
39,500
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON2
89,500
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* /X /
See footnote 2 below.
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)2
1.4%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- --------------
2 Pursuant to Rule 13d-5, the collective reporting persons under this
Schedule 13D shall be deemed to have acquired beneficial ownership, for
purposes hereof, of all equity securities of the issuer beneficially
owned by all such persons, which securities aggregate 1,428,640 in amount
and constitute approximately 22.33% of the class represented. See Item 5.
* SEE INSTRUCTIONS BEFORE FILLING OUT!
330465.3
<PAGE>
Item 1. Security and Issuer
This statement relates to units of limited partnership
interest (the "Units") of Falcon Cable Systems Company, a California limited
partnership (the "Partnership"), which has its principal executive offices at
10900 Wilshire Boulevard, 15th Floor, Los Angeles, California 90024.
Item 2. Identity and Background
(a)-(c), (f). This statement is being filed by (i) Cumberland
Associates, a New York limited partnership ("Cumberland"), (ii) Richard Reiss,
Jr. ("Reiss"), (iii) Andrew Wallach ("Wallach"), (iv) K. Tucker Andersen
("Andersen"), (v) Oscar S. Schafer ("Schafer"), (vi) Bruce G. Wilcox
("Wilcox"), (vii) Eleanor Poppe ("Poppe"), (viii) Glenn Krevlin ("Krevlin"),
(ix) The Baupost Group, Inc., a Massachusetts corporation ("Baupost Group"),
(x) Baupost Partners, a Massachusetts general partnership ("Baupost
Partners"), (xi) Seth A. Klarman ("Klarman"), (xii) Harvest Capital, L.P., a
Delaware limited partnership ("Harvest Capital"), (xiii) LDB Corp., a Delaware
corporation ("LDB"), (xiv) Laurence D. Belfer ("Belfer"), (xv) J. Morgan
Rutman ("Rutman"), (xvi) Marjorie Gochberg Kellner ("Kellner"), (xvii) Harvest
Investment Management, Inc., a Delaware corporation ("Harvest Management"),
(xviii) Pine Harvest Partners, L.P., a Delaware limited partnership ("Pine
Harvest"), (xix) Harvest Advisors, L.L.C., a Delaware limited liability
company ("Harvest Advisors"), (xx) Tweedy, Browne Company L.P., a Delaware
limited partnership ("TBC"), (xxi) Christopher H. Browne ("C.H. Browne"),
(xxii) William H. Browne ("W.H. Browne"), (xxiii) John D. Spears ("Spears"),
and (xxiv) Arthur Zankel ("Zankel"). Cumberland, Reiss, Wallach, Andersen,
Schafer, Wilcox, Poppe, and Krevlin are sometimes collectively referred to
herein as the "Cumberland Entities." Baupost Group, Baupost Partners and
Klarman are sometimes collectively referred to herein as the "Baupost
Entities." Harvest Capital, LDB, Belfer, Rutman, Kellner, Harvest Management,
Pine Harvest and Harvest Advisors are sometimes collectively referred to
herein as the "Harvest Entities." TBC, C.H. Browne, W.H. Browne and Spears are
sometimes collectively referred to herein as the "TBC Entities." The
Cumberland Entities, the Baupost Entities, the Harvest Entities, the TBC
Entities and Zankel are sometimes collectively referred to herein as the
"Reporting Persons."
The principal business of Cumberland is managing, on a
discretionary basis, nine securities accounts, the principal one of which is
Cumberland Partners. The address of the principal business and principal
office of Cumberland is 1114 Avenue of the Americas, New York, New York 10036.
Reiss, Wallach, Andersen, Schafer, Wilcox, Poppe and Krevlin are the general
partners (the "Cumberland GPs") of Cumberland. The present principal
occupation or employment of each of the Cumberland GPs is serving as general
partner of Cumberland. The business address of each of the Cumberland GPs is
c/o Cumberland Associates, 1114 Avenue of the Americas, New York, New York
10036. Each of the Cumberland GPs is a citizen of the United States of
America.
Page 26 of 64
330465.3
<PAGE>
The principal business of Baupost Group is acting as general
partner of several Massachusetts investment limited partnerships and as
investment adviser and manager of The Baupost Fund, a Massachusetts business
trust ("Baupost Fund"). The principal business of Baupost Partners is acting
as general partner and investment adviser of four Massachusetts investment
partnerships. The present principal occupation or employment of Mr. Klarman is
that of President and Managing Director of Baupost Group, President and
Trustee of Baupost Fund, and general partner of Baupost Partners and several
Massachusetts investment partnerships. The address of the principal business
and principal office of each of the Baupost Entities is 44 Brattle Street, 2nd
Floor, P.O. Box 389125, Cambridge, Massachusetts 02238- 9125. The present
principal occupations or employments of the directors and executive officers
of Baupost Group, and the principal businesses and addresses of any
corporations or other organizations in which such employment is conducted, are
set forth on Schedule I hereto. The present principal occupations or
employments of each of the general partners of Baupost Partners (the "Baupost
Partners GPs"), and the principal businesses and addresses of any corporations
or other organizations in which such employment is conducted, are set forth on
Schedule I hereto. Klarman and each of the persons listed on Schedule I hereto
as a director, executive officer or general partner of a Baupost Entity is a
citizen of the United States of America.
The principal business of Harvest Capital is managing
investment accounts. The general partners of Harvest Capital are LDB, Rutman
and Kellner. The sole director, executive officer and controlling shareholder
of LDB is Belfer. The principal business of Harvest Management is managing, on
a discretionary basis, securities accounts. The directors and executive
officers of Harvest Management are Belfer, Rutman and Kellner. The principal
business of Pine Harvest is managing investment accounts. The general partners
of Pine Harvest are Harvest Management and Harvest Advisors. The members of
Harvest Advisors are Belfer, Rutman and Kellner. The present principal
occupations or employments of Belfer, Rutman and Kellner, and the principal
businesses and addresses of any corporations or other organizations in which
such employment is conducted, are set forth on Schedule I hereto. The present
address of the present principal business and principal office of each of the
Harvest Entities is 767 Fifth Avenue, 46th Floor, New York, New York 10153.
Belfer, Rutman and Kellner are each a citizen of the United States of America.
TBC is engaged primarily in the business of a securities broker
and dealer and investment adviser, is registered as a broker-dealer and
investment adviser with the Securities and Exchange Commission, and is a
member of the National Association of Securities Dealers, Inc. The address of
the principal business and principal office of TBC is 52 Vanderbilt Avenue,
New York, New York 10017. The general partners of TBC are C.H. Browne, W.H.
Browne and Spears ( the "TBC GPs"). The present principal occupations or
employments of each of the TBC GPs is serving as general partner of TBC, TBK
Partners, L.P., a Delaware limited partnership ("TBK"), and Vanderbilt
Partners, L.P., a Delaware limited partnership ("VPLP"). The principal
business of each TBK and VPLP is investing in securities for their respective
accounts. The business address of each of the TBC GPs, TBK and VPLP is 52
Vanderbilt Avenue, New York, New York 10017. Each of the TBC GPs is a citizen
of the United States of America.
Page 27 of 64
330465.3
<PAGE>
Zankel's business address is c/o First Manhattan Co., 437
Madison Avenue, New York, New York 10022. The present principal occupation or
employment of Zankel is serving as a general partner of First Manhattan Co.,
an investment management and securities brokerage firm. The principal business
address of First Manhattan Co. is 437 Madison Avenue, New York, New York
10022. Zankel is a citizen of the United States of America.
(d) and (e). During the last five years, no Reporting Person
and no person listed on Schedule I has (i) been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or (ii) been
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.
Information contained herein with respect to each Reporting
Person is given solely by such Reporting Person, and no other Reporting Person
has responsibility for the accuracy or completeness of information supplied by
such other Reporting Person.
Item 3. Source and Amount of Funds or Other Consideration
As of the date hereof, Cumberland had acquired a total of
368,200 Units for an aggregate consideration of approximately $1,942,906. Of
that amount, Cumberland invested approximately $1,853,037 on behalf of
Cumberland Partners and approximately $89,869 on behalf of one of Cumberland's
other managed accounts. The source of funds for the purchase of all such Units
by Cumberland was a combination of investment capital contributed by
Cumberland Partners and the other managed account, and margin borrowings
through the margin accounts of the managed account holder maintained with
Morgan Stanley & Co. Incorporated. By virtue of Rule 13d-3 under the Act
("Rule 13d-3"), each of the Cumberland GPs may be deemed to beneficially own
all of the Units purchased by Cumberland on behalf of Cumberland Partners and
the other managed account. Therefore, each of the Cumberland GPs may be deemed
to have invested the aggregate amount of funds specified in the first sentence
of this paragraph. In addition to 368,200 Units with respect to which Reiss
and Wallach, as Cumberland GPs, may be deemed to beneficially own, as of the
date hereof, Wallach directly owned 2,500 Units and Reiss beneficially owned
(directly or through an individual retirement account) 8,200 Units. Wallach
acquired his 2,500 Units for an aggregate consideration of approximately
$20,968, all of which was from personal funds. Reiss acquired his 8,200
Units for an aggregate consideration of approximately $67,980, all of which
was from personal funds.
As of the date hereof, the Baupost Entities had acquired a
total of 500,200 Units for an aggregate consideration, including brokerage
commissions, of approximately $5,059,773. Of the amount specified in the first
sentence, as of the date hereof, Baupost Partners had acquired a total of
341,400 Units for an aggregate consideration, including brokerage commissions,
of approximately $3,686,100. The Units beneficially owned by Baupost Partners
were purchased with investment funds obtained from working capital of several
Massachusetts investment limited partnerships. By virtue of Rule 13d-3, each
of the Baupost Partners GPs may
Page 28 of 64
330465.3
<PAGE>
be deemed to beneficially own all of the Units purchased by Baupost Partners
and the other accounts managed by Baupost Partners. Therefore, each of the
Baupost Partners GPs may be deemed to have invested the aggregate amount of
funds specified in the second sentence of this paragraph. In addition to
341,400 Units with respect to which Baupost Group and Klarman, each as a
Baupost Partners GP, may be deemed to beneficially own, as of the date hereof,
Baupost Group and Klarman had acquired an additional 158,800 Units for an
aggregate consideration, including brokerage commissions, of approximately
$1,373,673. The Units beneficially owned by Baupost Group and Klarman were
purchased with investment funds from working capital of several Massachusetts
investment limited partnerships and Baupost Fund.
As of the date hereof, the Harvest Entities had acquired a
total of 170,000 Units for an aggregate consideration of approximately
$1,447,008. Of the amount specified in the first sentence, Harvest Capital had
acquired a total of 83,900 Units for an aggregate consideration, including
brokerage commissions, of approximately $705,103. The Units beneficially owned
by Harvest Capital were purchased from working capital. By virtue of Rule
13d-3, each of LDB, Rutman and Kellner, as general partners of Harvest
Capital, may be deemed to own all of the Units purchased by Harvest Capital
and may be deemed to have invested the amount of funds specified above for the
acquisition of such Units. Of the amount specified in the first sentence, Pine
Harvest had acquired a total of 18,800 Units for an aggregate consideration,
including brokerage commissions, of approximately $146,538. The Units
beneficially owned by Pine Harvest were purchased from working capital. By
virtue of Rule 13d-3, each of Harvest Management and Harvest Advisors, as
general partners of Pine Harvest, may be deemed to own all of the Units
purchased by Pine Harvest and may be deemed to have invested the amount of
funds specified above for the acquisition of such Units. In addition to 18,800
Units with respect to which Harvest Management, as a general partner of Pine
Harvest, may be deemed to beneficially own, as of the date hereof, Harvest
Management had acquired an additional 67,300 Units for an aggregate
consideration, including brokerage commissions, of approximately $595,457. The
source of funds for the purchase of the 67,300 Units by Harvest Management was
funds on hand from managed accounts.
As of the date hereof, the number of Units with respect to
which TBC may be deemed to beneficially own is 290,040 Units, all of which
Units were purchased in open market transactions. The aggregate consideration,
including brokerage commissions, of the Units beneficially owned by TBC was
approximately $3,528,830. The source of funds for the purchase of all such
Units came from the funds on hand in each individual managed account and in
certain instances from standard margin account borrowings from brokerage
accounts maintained at Fleet Clearing Corporation. By virtue of Rule 13d-3,
each of the TBC GPs may be deemed to beneficially own all of the Units
purchased by the accounts managed by TBC.
As of the date hereof, Zankel had acquired 89,500 Units for
an aggregate consideration, including brokerage commissions, of approximately
$806,074. The source of funds for the purchase of all such Units was personal
funds and funds on hand from accounts managed by First Manhattan Co.
Page 29 of 64
330465.3
<PAGE>
Item 4. Purpose of Transaction
Each of the Reporting Persons acquired its respective Units
in order to obtain an equity interest in the Partnership for investment
purposes.
The information set forth under "Item 5. Other Information"
of the Partnership's Quarterly Report on Form 10-Q for the period ended
September 30, 1995 (the "September Form 10-Q"), a copy of which is attached to
this Schedule 13D as Exhibit I, is herein incorporated by reference.
On January 29, 1996, certain of the Reporting Persons formed
the Unofficial Unitholder Oversight Committee (the "Committee") of the
Partnership in order to provide Unitholder representation and oversight as the
Partnership prepares for its scheduled termination on December 31, 1996 and to
communicate with the Partnership, the General Partner, the Advisory Committee,
and the appraisers participating in the Appraisal Process. Specifically, the
Committee intends to monitor, review and audit the Appraisal Process, the
Proposal, the Exchange and any other related transactions between the
Partnership, the General Partner and any affiliates (i) to promote the full
and fair value of the Partnership's Units and the economic interests of
Unitholders generally, and (ii) to review any proposal by the General Partner
of an amendment or modification of the Partnership Agreement to determine if
any such proposal is in the best interests of Unitholders. Although the
Committee intends to act generally with regard to the best interests of
Unitholders as a whole, the Committee does not, nor shall it be deemed or
construed to, specifically act for or on behalf of any other person or entity,
including Unitholders that are not members of the Committee, for any purpose
whatsoever. The members of the Committee include Baupost Group, Cumberland,
Harvest Capital and TBC.
The Reporting Persons may be deemed to constitute a "group"
by virtue of their collective retention of legal counsel and their intention
to communicate with each other, other Unitholders of the Partnership, the
Partnership and the General Partner, and from time to time, to take certain
other concerted actions as they may deem necessary or desirable in connection
with the Committee's purposes. Each of the Reporting Persons will act
independently with respect to the voting of Units and there is no agreement or
understanding among the members of the Committee or the Reporting Persons with
respect to the purchase, sale or voting, or refraining from purchasing,
selling, or voting, Units of the Partnership. Each member of the Committee
reserves the right to cease its participation as a member of the Committee at
any time.
The Reporting Persons individually intend to review on a
continuing basis their respective investments in the Units and may, subject to
the continuing evaluation of numerous factors, including, among other things,
the availability of Units for purchase and the price levels of such Units,
general market and economic conditions, ongoing evaluation of the
Partnership's business, financial condition, operations and prospects, the
relative attractiveness of alternative business and investment opportunities,
the actions of the Partnership, the General Partner and their respective
affiliates with respect to the Partnership's assets (including the Proposal
and the Exchange), and other future developments, acquire from time to time
additional Units, or retain or sell all or a portion of their respective
holdings of Units, in the open market or in privately
Page 30 of 64
330465.3
<PAGE>
negotiated transactions. Any open market or privately negotiated purchases or
sales may be made at any time.
Although the foregoing reflects activities currently
contemplated by the Reporting Persons and the Committee with respect to the
Partnership, the foregoing is subject to change at any time, and there can be
no assurance that the Reporting Persons or the Committee will take any of the
actions referred to above or take other actions not described herein. Except
as set forth above and in Item 6, none of the Reporting Persons has any
present plans or intentions that would result in or relate to any of the
transactions described in subparagraphs (a) through (j) of Item 4 of Schedule
13D.
Item 5. Interest in the Securities of the Issuer
(a) and (b) Pursuant to Rule 13d-5, the Reporting Persons
shall be deemed to have acquired beneficial ownership, as of January 29, 1996,
of the Units beneficially owned by all such persons. As of the date hereof,
the Reporting Persons beneficially owned an aggregate of 1,428,640 Units,
which constitutes approximately 22.33% of the outstanding Units.* Such Unit
ownership was held by the respective Reporting Persons as set forth below.
As of the date hereof, Cumberland beneficially owned 368,200
Units, which constitutes approximately 5.75% of the outstanding Units.
Cumberland has the sole power to dispose or direct the disposition of 349,300
Units and shares the power to dispose or direct the disposition of an
additional 18,900 Units. Cumberland has no voting power with respect to the
Units. Pursuant to Rule 13d-3, each of the Cumberland GPs may, by virtue of
his or her position as a general partner of Cumberland, be deemed to
beneficially own the Units held by Cumberland. In addition to the 368,200
Units which Wallach, as a Cumberland GP, may be deemed to beneficially own, as
of the date hereof, Wallach has the sole power to vote or direct the vote, or
to dispose or direct the disposition, of 2,500 additional Units which he owns
directly (the "Wallach Units"). Together with Units Wallach may be deemed to
beneficially own as a Cumberland GP, Wallach may be deemed to beneficially own
an aggregate of 370,700 Units, which constitutes approximately 5.8% of the
outstanding Units. In addition to the 368,200 Units which Reiss, as a
Cumberland GP, may be deemed to beneficially own, as of the date hereof, Reiss
has the sole power to vote or direct the vote, or to dispose or direct the
disposition, of 8,200 additional Units which he owns directly or through his
individual retirement account (the "Reiss Units"). Together with Units Reiss
may be deemed to beneficially own as a Cumberland GP, Reiss may be deemed to
beneficially own an aggregate of 376,400 Units, which constitutes
approximately 5.9% of the outstanding Units. Neither the filing of this
Schedule 13D nor any of its contents shall be deemed an admission that
Cumberland is the beneficial owner of the Wallach Units or the Reiss Units and
Cumberland expressly disclaims beneficial ownership of the Wallach Units and
the Reiss Units. The foregoing does not reflect 950 Units owned by Reiss'
spouse through her individual retirement account and Keogh plan, 3,600 Units
owned
- --------
* All calculations of percentages of beneficial ownership in this
Schedule 13D are based on there being 6,398,913 Units outstanding,
as of September 30, 1995, as disclosed in the Partnership's
Quarterly Report on Form 10-Q, for the period ended September 30,
1995.
Page 31 of 64
330465.3
<PAGE>
directly by Reiss' adult daughter, and 4,600 Units held in trust for the
benefit of Reiss' children; Reiss exercises no voting or dispositive power
with respect to such Units and expressly disclaims beneficial ownership with
respect thereto.
As of the date hereof, Baupost Group may be deemed to
beneficially own, by reason of the provisions of Rule 13d-3, 500,200 Units
held by several Massachusetts investment limited partnerships and Baupost
Fund, which constitutes approximately 7.8% of the outstanding Units. Baupost
Group owns directly no Units. Baupost Partners may be deemed to beneficially
own, by reason of the provisions of Rule 13d-3, 341,400 Units held by several
Massachusetts investment limited partnerships, which constitutes approximately
5.3% of the outstanding Units. Pursuant to Rule 13d-3, each of the Baupost
Partners GPs may, by virtue of his, her or its position as a general partner
of Baupost Partners, be deemed to beneficially own the Units held by Baupost
Partners. Baupost Partners owns directly no Units. Klarman may be deemed to
beneficially own, by reason of the provisions of Rule 13d-3, 500,200 Units
held by several Massachusetts investment limited partnerships and Baupost
Fund, which constitutes approximately 7.8% of the outstanding Units. Klarman
owns directly no Units. In the aggregate, the Baupost Entities beneficially
own an aggregate of 500,200 Units, which constitutes approximately 7.8% of the
outstanding Units. As described above, the Baupost Entities have shared power
to vote and dispose of Units held by various Massachusetts investment limited
partnerships and Baupost Fund.
As of the date hereof, Harvest Capital beneficially owned
83,900 Units, which constitutes approximately 1.3% of the outstanding Units.
Harvest Capital has the sole power to vote or direct the vote, or to dispose
or direct the disposition, of the 83,900 Units it owns directly. Pursuant to
Rule 13d-3, each of LDB, Rutman and Kellner may, by virtue of his, her or its
position as a general partner of Harvest Capital, be deemed to beneficially
own the Units held by Harvest Capital. Pursuant to Rule 13d-3, Belfer may, by
virtue of being the controlling shareholder of LDB, a general partner of
Harvest Capital, be deemed to beneficially own the Units held by Harvest
Capital. As of the date hereof, Pine Harvest beneficially owned 18,800 Units,
which constitutes approximately 0.3% of the outstanding Units. Pine Harvest
has the sole power to vote or direct the vote, or to dispose or direct the
disposition, of the 18,800 Units it owns directly. Pursuant to Rule 13d-3,
Harvest Management and Harvest Advisors may, by virtue of their positions as
general partners of Pine Harvest, be deemed to beneficially own the Units held
by Pine Harvest. In addition to the 18,800 Units which Harvest Management, as
a general partner of Pine Harvest, may be deemed to beneficially own, as of
the date hereof, Harvest Management has the sole power to vote or direct the
vote, or to dispose or direct the disposition, of 67,300 additional Units
which are held investment accounts it manages. Together with Units Harvest
Management may be deemed to beneficially own as a general partner of Pine
Harvest, Harvest Management may be deemed to beneficially own an aggregate of
86,100 Units, which constitutes approximately 1.35% of the outstanding Units.
Harvest Management owns directly no Units. In the aggregate, the Harvest
Entities beneficially own an aggregate of 170,000 Units, which constitutes
approximately 2.7% of the outstanding Units. As described above, various of
the Harvest Entities have shared power to vote and dispose of Units held by
limited partnerships and managed accounts.
As of the date hereof, TBC may be deemed to be the beneficial
owner of 290,040 Units, which constitutes approximately 4.5% of the
outstanding Units. Such Units are held in
Page 32 of 64
330465.3
<PAGE>
accounts over which TBC has investment discretion. Neither the filing of this
Schedule 13D nor any of its contents shall be deemed an admission that TBC is
the beneficial owner of any of the Units held in such accounts and TBC
expressly disclaims beneficial ownership of any of such Units. Pursuant to
Rule 13d-3, the TBC GPs may be deemed to be the beneficial owner of the Units
held by TBC by reason of being general partners of TBC. However, nothing
contained herein shall be construed as an admission that any of the TBC GPs is
the beneficial owner of any of the Units held by TBC and the TBC GPs expressly
disclaim beneficial ownership of any of such Units. TBC has investment
discretion with respect to 290,040 Units and has the power to dispose or
direct the disposition of all such Units. Of these Units, TBC has the sole
power to vote or direct the voting of 264,320 Units.
As of the date hereof, Zankel may be deemed to be the
beneficial owner, by reason of the provisions of Rule 13d-3, of 89,500 Units,
which constitutes approximately 1.4% of the outstanding Units. Zankel has the
sole power to vote or direct the vote, or to dispose or direct the
disposition, of the 50,000 Units he owns directly. In addition, pursuant to
Rule 13d-3, Zankel may be deemed to be the beneficial owner of the 39,500
Units held in accounts of First Manhattan Co., an investment management and
securities brokerage firm which has voting power and investment discretion
over managed accounts, in which Zankel is a general partner.
Except as set forth above, neither the filing of this
Schedule 13D nor any of its contents shall be deemed to constitute an
admission that any Reporting Person is the beneficial owner of any of the
Units owned by another Reporting Person for purposes of Section 13(d) of the
Act or for any other purpose, and each Reporting Person expressly disclaims
beneficial ownership of Units beneficially owned by any other Reporting
Person.
(c) Schedule II attached hereto sets forth a list of each
transaction in Units effected by the respective Reporting Persons since
November 29, 1995.
(d) With respect to any Reporting Person who manages
investment accounts, to the best knowledge of such Reporting Person, each of
the persons maintaining such an account has the right to receive or the power
to direct the receipt of dividends from, or the proceeds from the sale of, the
Units held in said person's account. Except as otherwise described in this
Item 5(d), no other persons are known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale
of, any Units beneficially owned by any of the Reporting Persons.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer
The information set forth in Item 3 and Item 4 above is
hereby incorporated by reference herein.
The Cumberland Entities, the Baupost Entities, the Harvest
Entities, TBC and Zankel have orally agreed to contribute, generally on a pro
rata basis based on the number of Units owned, funds to defray the expenses of
the Committee's efforts in furtherance of its purposes;
Page 33 of 64
330465.3
<PAGE>
it is contemplated that other Unitholders may subsequently join as members of
the Committee and/or contribute funds to the Committee to defray the expenses
of the Committee's efforts in furtherance of its purposes. On January 29,
1996, the Partnership and the Committee executed a letter agreement (the
"Letter Agreement"), a copy of which is attached to this Schedule 13D as
Exhibit II and is incorporated herein by reference, pursuant to which the
Partnership agreed (i) to pay for fifty percent (50%) of the Committee's legal
fees and disbursements, up to a maximum amount to be paid by the Partnership
of $50,000, and (ii) to provide to the Committee, from time to time as
requested by the Committee, reasonable access to such documents and
information as the Partnership deems appropriate (including copies thereof),
including, but not limited to, documents and other information provided to the
appraisers participating in the Appraisal Process. No portion of such funds
may be drawn down or applied against services rendered by the Committee's
legal counsel specifically for the purpose of commencing litigation or
otherwise in connection with actual litigation against the Partnership or any
of its affiliates. In addition, pursuant to the Letter Agreement, the
Committee agreed to keep confidential Partnership information furnished to the
Committee by the Partnership, except for certain information which the
Committee may obtain by other means, as more fully described in the Letter
Agreement.
The Letter Agreement may be terminated by the Partnership to the
extent the Committee explicitly threatens or commences litigation proceedings
against the Partnership or any of its affiliates, or if the members of the
Committee and their respective affiliates cease to own in the aggregate at
least 50% of the number of Units owned by them as of January 29, 1996.
The Reporting Persons have agreed to jointly file this
Schedule 13D pursuant to a written agreement, a copy of which is attached to
this Schedule 13D as Exhibit III and is incorporated herein by reference.
Pursuant to management agreements with their respective
managed accounts, Cumberland, Baupost Group, Harvest Management and, with
respect to only certain accounts, TBC, each receive an annual management fee
from account holders and possible additional fees reflecting participation in
the net appreciation in the value of the securities in their respective
managed accounts during the preceding fiscal year, calendar year or twelve
month period.
Except as described in Item 3, Item 4, Item 5 and this Item
6, none of the Reporting Persons have any contracts, arrangements,
understanding or relationships with respect to securities of the Partnership.
Item 7. Material to be Filed as Exhibits
1. Written Agreement, dated January 29, 1996, among the Reporting
Persons regarding Joint Filing of Schedule 13D.
2. Letter agreement, dated January 29, 1996, between the
Partnership and the Committee.
3. Item 5 from the Partnership's Quarterly Report on Form 10-Q
for the period ended September 30, 1995.
Page 34 of 64
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<PAGE>
SCHEDULE I
BAUPOST ENTITIES
Directors and Executive Officers of Baupost Group ("Baupost Group")
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
Present Principal Occupation or
Employment; Principal
Business and Address of Any Corporation or Other
Name Principal Business Address Organization In Which Such Employment is Conducted, if any
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Seth A. Klarman 44 Brattle Street President and Director of Baupost
President & Director P.O. Box 389125 Group; general partner, Baupost
Cambridge, MA 02238 Partners and other Massachusetts
investment limited partnerships;
President and Trustee of The
Baupost Fund.
- --------------------------------------------------------------------------------------------------------------------------------
Howard H. Stevenson 44 Brattle Street Professor, Harvard Graduate
Vice Chairman, Director and P.O. Box 389125 School of Business Administration,
Treasurer Cambridge, MA 02238 Baker Library, Boston, MA 02163;
Vice Chairman, Director and
Treasurer of Baupost Group;
Chairman of Baupost Fund.
- --------------------------------------------------------------------------------------------------------------------------------
William J. Poorvu P.O. Box 828 Professor, Harvard Graduate
Chairman of the Board of Cambridge, MA 02238 School of Business Administration,
Directors P.O. Box 828, Cambridge, MA
02238; Vice Chairman and
Treasurer of the Board of Trustees
of The Baupost Fund; Chairman of
the Board of Directors of Baupost
Group.
- --------------------------------------------------------------------------------------------------------------------------------
Jordan J. Baruch 1200 18th Street, NW Chairman of the Board, Jordan J.
Director and Asst. Secretary Suite 610 Baruch Associates (Consultants), a
Washington, DC 20036 consulting business at
1200 18th Street NW, Suite 610,
Washington, DC 20036.
- --------------------------------------------------------------------------------------------------------------------------------
Jo-An B. Bosworth 44 Brattle Street Vice President, Secretary and Clerk
Vice President, Secretary and P.O. Box 389125 of Baupost Group, general partner
Clerk Cambridge, MA 02238 of Baupost Partners; assistant Clerk
of The Baupost Fund.
</TABLE>
330465.3
<PAGE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
Present Principal Occupation or
Employment; Principal
Business and Address of Any Corporation or Other
Name Principal Business Address Organization In Which Such Employment is Conducted, if any
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Paul C. Gannon 44 Brattle Street Vice President and Chief Financial
Vice President, Chief Financial P.O. Box 389125 and Administrative Officer of
and Administrative Officer Cambridge, MA 02238 Baupost Group; Vice President of
The Baupost Fund.
- --------------------------------------------------------------------------------------------------------------------------------
David C. Abrams 44 Brattle Street Vice President of Baupost Group;
Vice President P.O. Box 389125 Vice President of The Baupost
Cambridge, MA 02238 Fund.
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
General Partners of Baupost Partners
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
Present Principal Occupation or
Employment; Principal
Business and Address of Any Corporation or Other
Name Principal Business Address Organization In Which Such Employment is Conducted, if any
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
The Baupost Group, Inc.* 44 Brattle Street Investment Advisor; General
P.O. Box 389125 Partner of several Massachusetts
Cambridge, MA 02238 investment limited partnerships;
manager of The Baupost Fund.
- ---------------------------------------------------------------------------------------------------------------------------------
Seth A. Klarman 44 Brattle Street President and Director of Baupost
President & Director P.O. Box 389125 Group; general partner, Baupost
Cambridge, MA 02238 Partners and other Massachusetts
investment limited partnerships;
President and Trustee of The
Baupost Fund.
- ---------------------------------------------------------------------------------------------------------------------------------
Jo-An B. Bosworth 44 Brattle Street Vice President, Secretary and Clerk
P.O. Box 389125 of Baupost Group, general partner
Cambridge, MA 02238 of Baupost Partners; assistant Clerk
of The Baupost Fund.
- ---------------------------------------------------------------------------------------------------------------------------------
Baupost Associates Limited 44 Brattle Street General Partner of Baupost
Partnership P.O. Box 389125 Partners.
Cambridge, MA 02238
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
* For information concerning the directors and executive officers of
Baupost Group, see above.
-2-
330465.3
<PAGE>
HARVEST ENTITIES
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
Present Principal Occupation or
Employment; Principal
Business and Address of Any Corporation or Other
Name Principal Business Address Organization In Which Such Employment is Conducted, if any
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Laurence D. Belfer 767 Fifth Avenue Executive Vice President and Chief
46th Floor Operating Officer of Belco Oil &
New York, NY 10153 Gas Company, an oil exploration and
production company with offices at 767 Fifth Avenue,
New York, NY 10153.
- ------------------------------------------------------------------------------------------------------------------------------
James Morgan Rutman 767 Fifth Avenue President and Director of Harvest
46th Floor Management.
New York, NY 10153
- ------------------------------------------------------------------------------------------------------------------------------
Marjorie Gochberg Kellner 767 Fifth Avenue Executive Vice President of
46th Floor Harvest Management.
New York, NY 10153
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-3-
330465.3
<PAGE>
SCHEDULE II
The following tables set forth all transactions in the Units effected by the
Reporting Persons since November 29, 1995.
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
Type of Number
Transaction* Trade Date Unit Price of Units Location
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
I. Baupost
Group P 12/13/95 10.625 1,300 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/14/95 10.739 1,800 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/15/95 10.540 700 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/18/95 10.625 1,900 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/20/95 10.750 3,200 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 01/10/96 10.750 400 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 01/12/96 10.750 300 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
II. Baupost
Partners P 12/14/95 10.739 3,700 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/15/95 10.540 1,500 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/18/95 10.625 3,800 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/20/95 10.750 6,300 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/21/95 10.750 300 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/22/95 10.625 700 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 12/27/95 10.500 400 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
P 01/16/96 10.750 400 Exchange
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
* "P" indicates a purchase of Units, "S" indicates a sale of Units.
330465.3
<PAGE>
SIGNATURES
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.
Dated: February 1, 1996
CUMBERLAND ASSOCIATES
By: /s/ Richard Reiss Jr.
Name: Richard Reiss
Title: Managing Partner
/s/ Richard Reiss Jr.
RICHARD REISS, JR.
/s/ Andrew Wallach
ANDREW WALLACH
/s/ K. Tucker Andersen
K. TUCKER ANDERSEN
/s/ Oscar S. Schafer
OSCAR S. SCHAFER
_____________________________________
BRUCE G. WILCOX
_____________________________________
ELEANOR POPPE
/s/ Glenn Krevlin
GLENN KREVLIN
<PAGE>
SIGNATURES
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.
Dated: February 1, 1996
CUMBERLAND ASSOCIATES
By:__________________________________
Name:________________________________
Title:_______________________________
_____________________________________
RICHARD REISS, JR.
_____________________________________
ANDREW WALLACH
_____________________________________
K. TUCKER ANDERSEN
_____________________________________
OSCAR S. SCHAFER
_____________________________________
BRUCE G. WILCOX
/s/ Eleanor Poppe
ELEANOR POPPE
_____________________________________
GLENN KREVLIN
<PAGE>
SIGNATURES
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.
Dated: February 1, 1996
CUMBERLAND ASSOCIATES
By:__________________________________
Name:________________________________
Title:_______________________________
_____________________________________
RICHARD REISS, JR.
_____________________________________
ANDREW WALLACH
_____________________________________
K. TUCKER ANDERSEN
_____________________________________
OSCAR S. SCHAFER
/s/ Bruce G. Wilcox
BRUCE G. WILCOX
_____________________________________
ELEANOR POPPE
_____________________________________
GLENN KREVLIN
<PAGE>
SIGNATURES
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.
Dated: February 1, 1996
THE BAUPOST GROUP, INC.
By: /s/ Seth A Klarman
Name: Seth A. Klarman
Title: President
BAUPOST PARTNERS
By: /s/ Seth A. Klarman
Seth A. Klarman, general partner
/s/ Seth A. Klarman
SETH A. KLARMAN
<PAGE>
SIGNATURES
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.
Dated: February 1, 1996
HARVEST CAPITAL, L.P.
By: /s/ J. Morgan Rutman
Name: J. Morgan Rutman
Title: General Partner
LDB CORP.
By: /s/ Laurence D. Belfer
Name: Laurence D. Belfer
Title: President
/s/ Laurence D. Belfer
LAURENCE D. BELFER
/s/ Morgan Rutman
J. MORGAN RUTMAN
/s/ Marjorie Gochberg Kellner
MARJORIE GOCHBERG KELLNER
HARVEST INVESTMENT MANAGEMENT, INC.
By: /s/J. Morgan Rutman
Name: J. Morgan Rutman
Title:President
<PAGE>
SIGNATURES
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.
Dated: February 1, 1996
PINE HARVEST PARTNERS, L.P.
By: Harvest Investment Management, Inc.,
a general partner
By: /s/J. Morgan Rutman
Name: J. Morgan Rutman
Title: President
HARVEST ADVISORS, L.L.C.
By: /s/J. Morgan Rutman
Name: J. Morgan Rutman
Title: Member
<PAGE>
SIGNATURES
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.
Dated: February 1, 1996
TWEEDY BROWNE COMPANY L.P.
By: /s/ Christopher H. Browne
Name: Christopher H. Browne
Title: General Partner
/s/ Christopher H. Browne
CHRISTOPHER H. BROWNE
/s/ William H. Browne
WILLIAM H. BROWNE
/s/ John D. Spears
JOHN D. SPEARS
<PAGE>
SIGNATURES
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.
Dated: February 1, 1996
/s/Arthur Zankel
ARTHUR ZANKEL
<PAGE>
Exhibit Index
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
Exhibit Page
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C>
Ex-99.1 Exhibit I -- Item 5 from the Partnership's Quarterly Report on Form 50
10-Q for the period ended September 30, 1995.
- ----------------------------------------------------------------------------------------------------------
Exh-99.2 Exhibit II -- Letter agreement, dated January 29, 1996, 52
between the Partnership and the Committee.
- ----------------------------------------------------------------------------------------------------------
Exh-99.3 Exhibit III -- Written Agreement dated January 29, 1996, among the 59
Reporting Persons regarding Joint Filing of Schedule
13D.
- ----------------------------------------------------------------------------------------------------------
</TABLE>
EXHIBIT I
Item 5 from Partnership's Quarterly Report
on Form 10-Q for the period ended
September 30, 1995
--------------------------------------------
ITEM 5. OTHER INFORMATION
The Partnership Agreement provides that the General Partner shall use its
best efforts to cause the Partnership to sell all of the Partnership's cable
systems between December 31, 1991 and December 31, 1996, the "termination
date" of the Partnership. The Partnership has stated in prior public reports
and filings that, from time to time, it may enter into discussions regarding
the sale of its cable systems to affiliates or other parties.
In addition, the Partnership Agreement provides the General Partner or
its affiliates the right to purchase for cash substantially all of the
Partnership's cable systems at any time after December 31, 1991 without
soliciting unaffiliated purchasers. Pursuant to the Partnership Agreement, in
the event the General Partner or its affiliates exercise such right, the
purchase price will be determined solely by reference to an "appraised value"
determined pursuant to an appraisal process set forth in the Partnership
Agreement (the "Appraisal Process"). The Partnership Agreement provides that
the "appraised value" shall be determined by the average of three appraisal
evaluations of the Partnership's cable systems and provides that one appraiser
is to be selected by the General Partner; one appraiser is to be selected by a
majority vote of the independent members of the Partnership's advisory
committee; and one appraiser is to be selected by the two appraisers already
so chosen. If any such appraisal is expressed as a range, then in calculating
the average, the minimum amount of such appraisal shall be used. In the event
of a sale of a cable system, including a sale to the General Partner or its
affiliates, the General Partner will be entitled to a fee equal to 2 1/2% of
gross proceeds from the sale less any amounts paid as brokerage or similar
fees to third parties.
The Partnership has previously disclosed that the General Partner or its
affiliates may from time to time explore the possibility of exercising such
purchase right. The General Partner, in its exploration of the possibility of
exercising such purchase right, has now initiated the Appraisal Process by
inviting the independent members of the Partnership's advisory committee to
designate a nationally-recognized independent appraiser.
In conjunction with the initiation of the Appraisal Process, certain
affiliates (the "Affiliates") of the Partnership and its General Partner,
including Marc B. Nathanson (the Chairman of the Board, Chief Executive
Officer, President and a director of Falcon Holding Group, Inc., the General
Partner's sole general partner) have made a preliminary proposal (the
"Proposal") to the independent members of the Partnership's advisory committee
with respect to an exchange transaction (the "Exchange"). Under the Proposal,
the Exchange would take place immediately prior to the exercise by the General
Partner or its affiliates of their right to purchase for cash substantially
all of the Partnership's cable systems remaining after giving effect to the
Exchange. In the Exchange, substantially all of the Falcon Units owned by the
Affiliates would be exchanged for a portion (by value) of the Partnership's
cable systems equal
336299.1
<PAGE>
to the proportion of the total outstanding Units exchanged by the Affiliates
(the Affiliates would also relieve Falcon of an equal proportion of its total
debt).
Any decision of Falcon to pursue the Proposal, the Exchange, or the sale
of the cable systems of the Partnership in accordance with the rights of the
General Partner under the terms of the Partnership Agreement (as described
above) or otherwise, ultimately will be dependent upon numerous factors
including, without limitation, (i) the receipt by the General Partner of an
opinion of a qualified appraiser or other financial advisor selected by the
independent members of the Partnership's advisory committee as to, among other
things, the fairness of the Proposal as compared to a sale of all of the
Partnership's cable systems (without giving effect to the Exchange) to the
General Partner or its affiliates in accordance with their rights under the
Partnership Agreement (as described above) [, or the conclusion on another
basis that such fairness was otherwise established]; (ii) the availability of
necessary equity and debt financing on favorable terms; (iii) the relative
attractiveness of available alternative business and investment opportunities;
(iv) the regulatory environment for cable properties; (v) future developments
relating to the Partnership and the cable industry, general economic
conditions and other future developments. [If the Proposal is pursued and the
Exchange is consummated, the Affiliates expect that they would defer their
potential tax liability as compared to a liquidation of the Partnership
without effecting the Exchange.]
Although the foregoing reflects activities which the General Partner is
currently exploring with the Partnership and the Affiliates with respect to
the Partnership, the foregoing is subject to change at any time. Accordingly,
there can be no assurance that the Proposal, the Exchange, or the sale of the
cable systems of the Partnership in accordance with the rights of the General
Partner and its affiliates under the terms of the Partnership Agreement (as
described above) or otherwise will be pursued or, if pursued, when and if any
of them will be successfully consummated. For additional information on the
terms of the Partnership Agreement, see "Item 1 -- Business -- Introduction"
and Item 13 -- "Certain Relationships and Related Transactions -- Conflicts of
Interest" in the Partnership's Annual Report on Form 10-K for the year ended
December 31, 1994.
-2-
336299.1
EXHIBIT II
THE PROPOSED
UNOFFICIAL UNITHOLDER OVERSIGHT COMMITTEE
OF FALCON CABLE SYSTEMS COMPANY
c/o The Baupost Group, Inc.
44 Brattle Street
P.O. Box 389125
Cambridge, MA 02238-9125
January 29, 1996
CONFIDENTIAL
BY FACSIMILE/REGULAR MAIL
Falcon Cable Systems Company
10900 Wilshire Boulevard
Los Angeles, California 90024
Attention: Marc B. Nathanson
Gentlemen:
Thank you for meeting with us on December 19, 1995 to discuss
preliminarily the concerns of certain holders ("Holders") of units of limited
partnership interest ("Unitholders") in Falcon Cable Systems Company (the
"Partnership") regarding certain transactions between the Partnership and its
affiliates proposed in connection with the scheduled termination of the
Partnership on December 31, 1996 (the "Termination). Following our December
19, 1995 meeting and in anticipation of your agreement set forth herein, the
Holders identified on Annex A hereto preliminarily have determined to form an
unofficial Unitholder oversight committee (the "Committee") in the near
future.
The purpose of this letter is to confirm with you certain
arrangements and matters which we discussed on December 19, 1995 and January
19, 1996. Specifically, you have agreed as follows:
1. Counsel Fees. In connection with the Committee's proposed
retention of Battle Fowler LLP regarding the Termination, the Partnership
shall pay for fifty percent (50%) of the Committee's legal fees and
disbursements, up to a maximum amount to be paid by the Partnership of
$50,000.
The Partnership hereby agrees to provide to Battle Fowler LLP a
retainer of $50,000 (the "Retainer"), which Retainer (i) shall be deposited
and held in an interest bearing trust account and (ii) shall be applied, from
time to time, against one-half of the fees and disbursements incurred by
Battle Fowler LLP in connection with the contemplated representation of the
Committee, provided and to the extent such fees and disbursements are approved
in writing by an authorized representative of the Committee for payment and
release, and provided that an equal amount has been applied toward the payment
of such fees and disbursements from the Committee's own funds. The Committee
shall provide to the Partnership a copy of Battle Fowler LLP's monthly
statement for services rendered as soon as practicable after the same is
received and approved by the Committee for payment. Battle Fowler LLP has
agreed to utilize its established hourly rates generally used by that firm,
consistent with its customary
330430.3
<PAGE>
billing practices, without "premium" or other add-ons. The Partnership's
obligation to provide Battle Fowler LLP the Retainer is expressly conditioned
on the Committee providing Battle Fowler a retainer in an equal or greater
amount prior to or simultaneously with the Partnership.
The Committee and Battle Fowler LLP agree that no portion of the
Retainer shall at any time be drawn down or applied against services rendered
specifically for the purpose of commencing litigation or otherwise in
connection with actual litigation (litigation for purposes of this letter
agreement being understood to include, without limitation, the exercise of any
federal or state law rights or remedies that may be or be alleged to be
available to the Committee or any Unitholders), against the Partnership or any
of its affiliates. To the extent the Committee explicitly threatens or
commences litigation proceedings against the Partnership or any of its
affiliates, or if the members of the Committee and their respective affiliates
cease to own in the aggregate at least 50% of the number of Units set forth on
Annex A, the Partnership shall have the right to terminate this letter
agreement, in which event the Committee and Battle Fowler LLP agree to return
promptly to the Partnership any unused portion of the Retainer as of such
commencement date.
Any unused portion of the Partnership's Retainer after Battle
Fowler LLP's services on behalf of the Committee are concluded will be
returned to the Partnership.
The parties hereto understand and agree that Battle Fowler LLP was
selected by the Committee to act on behalf of the Committee and its members,
and not by the Partnership or any other person or entity, and notwithstanding
the fact that the Partnership is paying a portion of Battle Fowler's fees and
disbursements in accordance with the provisions of this Section 1, Battle
Fowler LLP is not, is not authorized to be, and is not purporting to be, an
agent of the Partnership or any other person or entity, including Unitholders
of the Partnership that are not members of the Committee, for any purpose
whatsoever.
2. Access to Information and Confidentiality. The Partnership has
agreed to provide to the Committee, from time to time as requested by the
Committee, reasonable access to such documents and information as the
Partnership deems appropriate (including copies thereof), including, but not
limited to documents and other information provided to the appraisers in the
appraisal process("Partnership Information"). In that regard, the Committee,
upon its formation, intends to provide the Partnership with a preliminary
document and information request. The Partnership hereby agrees and
acknowledges that nothing herein shall be deemed a waiver or compromise of any
rights or privileges that may hereafter be asserted by the Holders in their
respective capacities as Unitholders or otherwise, including, but not limited
to, rights to the inspection of the books and records of the Partnership, and
the receipt of a list of the Unitholders of the Partnership.
In consideration of, and as a condition to, furnishing the
Committee with Partnership Information, the Committee agrees:
A. That any Partnership Information which is furnished to the
Committee, its members or their respective employees,
agents, advisors or representatives (collectively,
"Permitted Persons") by or on behalf of the Partnership
(collectively referred to as the "Confidential
Material"), shall be treated by the Committee and the
Permitted Persons confidentially and in accordance with
the provisions of this letter agreement and shall not be
shown to or discussed with any other person or entity.
Each Permitted Person to whom
-2-
330430.3
<PAGE>
Confidential Information is disclosed by the Committee
will be advised of its confidential nature and the terms
of this letter agreement.
B. The term "Confidential Material" does not include any
portion of the Partnership Information which (i) was or
becomes generally available to the public other than as a
result of a disclosure by the Committee or a Permitted
Person, (ii) was or becomes available to the Committee or
a Permitted Person on a non-confidential basis from a
source other than the Partnership or its advisors,
provided that such source is not bound by a
confidentiality agreement with or other obligation of
secrecy to the Partnership or another party, or (iii) was
or becomes available to the Committee or a Permitted
Person on a non-confidential basis from the Partnership,
including pursuant to rights afforded to Unitholders
under the Partnership Agreement and/or California law.
C. If (1) the Committee explicitly threatens or commences any
litigation proceedings against the Partnership or any of
its affiliates, (2) the Partnership or its assets are
liquidated or sold, (3) the Committee disbands or
otherwise ceases to exist, or (4) this letter agreement
is terminated pursuant to its terms or the written
agreement of the Partnership and the Committee, the
Committee and the Permitted Persons (i) shall promptly
redeliver to the Partnership (or, if the Partnership
shall have been terminated or otherwise cease to exist,
its general partner) all copies of all Confidential
Material, (ii) will not retain any copies of such
material, and (iii) agree to keep confidential the
Confidential Material.
D. In the event that the Committee, any Committee member, or
any Permitted Person is requested or required (by oral
questions, interrogatories, requests for information or
documents, subpoena, civil investigative demand or
similar process) to disclose any Confidential Material,
the Committee will promptly notify the Partnership of
such request or requirement so that the Partnership may
seek an appropriate protective order or waive compliance
with the provisions of this agreement, and/or take any
other mutually agreed action. If, in the absence of a
protective order or the receipt of a waiver hereunder,
the Committee or any Permitted Person, is in the
reasonable written opinion of such person's counsel,
compelled to disclose information or else stand liable
for contempt or suffer other censure or significant
penalty, such person may disclose that portion of the
requested information which such person's counsel advises
such person in writing that such person is compelled to
disclose.
3. Securities Laws. The Committee acknowledges that it and its
members are subject to applicable federal law regarding the purchase and sale
of securities when in possession of non-public, material inside information
with respect the issuer of such securities; that some or all of the
Confidential Information may constitute non-public material inside information
with respect to the Partnership; and that the Committee and its members shall
be solely responsible for determining if such information is or is not
non-public material inside information with respect to the Partnership and for
any violation of law by it or them resulting from any transactions effected by
it or them then while in possession of such Confidential Information.
4. Permitted Disclosure. The Committee and the Partnership
acknowledge that it may be necessary or desirable for either the Committee and
its affiliates, on the one hand, or the Partnership and its affiliates, on the
other hand, to make public disclosure of the existence of this letter
agreement and
-3-
330430.3
<PAGE>
its terms, and agree that (i) the existence of this letter agreement and its
terms shall not be deemed "Confidential Material" hereunder, and (ii) neither
the Partnership nor the Committee is obligated to keep the existence of this
letter agreement or its terms confidential, and may make public disclosure
with respect thereto without the consent, approval or review of the other
party.
The agreements set forth in paragraph 2 and the acknowledgements
set forth in paragraph 3 of this letter agreement shall survive the
termination of this letter agreement, as will Battle Fowler LLP's obligation
to apply the Retainer only in accordance with the terms hereof and to return
any unused portion of the Retainer.
5. Multiple Counterparts. This letter agreement may be executed in
one or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.
In closing, the Committee advises the Partnership that it shall be
an ad hoc committee whose constituents shall include Committee members only.
The Committee does not and shall not, nor shall it be deemed or construed to,
act for or on behalf of any other person or entity, including Unitholders of
the Partnership that are not members of the Committee, for any purpose
whatsoever.
-4-
330430.3
<PAGE>
If the foregoing correctly sets forth our understanding, please
sign and return to us the enclosed copy of this letter and promptly forward
the Partnership's $50,000 retainer to Battle Fowler LLP, 75 East 55th Street,
New York, New York 10022, attention: Charles H. Baker, Esq.
Sincerely,
UNOFFICIAL UNITHOLDER OVERSIGHT COMMITTEE
OF FALCON CABLE SYSTEMS COMPANY
By: The Baupost Group, Inc.,
Committee Chair
By: /s/ Abner B. Kurtin
Name: Abner B. Kurtin
Title: Investment Analyst
AGREED TO AND ACCEPTED
as of January 29, 1996:
FALCON CABLE SYSTEMS COMPANY
By: Falcon Cable Investors Group
Managing General Partner
By: Falcon Holding Group, L.P.
General Partner
By: Falcon Holding Group, Inc.
General Partner
By: __________________________
Name: ___________________
Title: ____________________
ACKNOWLEDGED AND AGREED, with
respect to the second, third and
fourth paragraphs of Section 1 above:
BATTLE FOWLER LLP
By: /s/ Charles H. Baker
Charles H. Baker
-5-
330430.3
<PAGE>
If the foregoing correctly sets forth our understanding, please
sign and return to us the enclosed copy of this letter and promptly forward
the Partnership's $50,000 retainer to Battle Fowler LLP, 75 East 55th Street,
New York, New York 10022, attention: Charles H. Baker, Esq.
Sincerely,
UNOFFICIAL UNITHOLDER OVERSIGHT COMMITTEE
OF FALCON CABLE SYSTEMS COMPANY
By: The Baupost Group, Inc.,
Committee Chair
By: ______________________
Name: _________________
Title: ________________
AGREED TO AND ACCEPTED
as of January 29, 1996:
FALCON CABLE SYSTEMS COMPANY
By: Falcon Cable Investors Group
Managing General Partner
By: Falcon Holding Group, L.P.
General Partner
By: Falcon Holding Group, Inc.
General Partner
By: /s/ Stanley Itskowitch
Name: Stanley Itskowitch
Title: Executive Vice President
ACKNOWLEDGED AND AGREED, with
respect to the second, third and
fourth paragraphs of Section 1 above:
BATTLE FOWLER LLP
By: /s/ Charles H. Baker
Charles H. Baker
-5-
330430.3
<PAGE>
Annex A
Proposed Holders/Committee Members*
No. of Units of the Partnership
Name Owned as of January 29, 1996**
---- ------------------------------
The Baupost Group, Inc. 500,200
Cumberland Associates 378,900
Harvest Capital, L.P. 170,000
Tweedy, Browne Company L.P. 290,040
______________________________
* Nothing in this Annex A shall be deemed a representation or
warranty whatsoever as to the number of Units owned, of record or
beneficially, by any Committee member. The number of Units reflects
determinations of beneficial ownership which may change from time
to time, depending on the circumstances. The number of Units owned
are as of the date specified, and the Committee does not undertake,
and shall not be obligated, to update Unit ownership data at any
time hereafter.
** Unit amounts may include Units beneficially owned by affiliates or
certain related persons.
-6-
330430.3
EXHIBIT III
JOINT FILING AGREEMENT
AGREEMENT, dated as of January 29, 1996, by and among the parties
identified on the signature pages hereto.
WHEREAS, each of the parties hereto beneficially owns, or may be
deemed to beneficially own, units of limited partnership ("Units") of Falcon
Cable Systems Company, a California limited partnership (the "Company"); and
WHEREAS, the parties hereto may be deemed to constitute a "group"
with respect to the beneficial ownership of the Units for purposes of Rule
13d-5 and Schedule 13D promulgated by the Securities and Exchange Commission;
NOW, THEREFORE, the parties hereto agree as follows:
1. The parties hereto shall prepare a single statement containing
the information required by Schedule 13D with respect to their respective
interests in the Units (the "Schedule 13D"), and the Schedule 13D shall be
filed on behalf of each of them.
2. Each party hereto shall be responsible for the timely filing of
the Schedule 13D and any necessary amendments thereto, and for the
completeness and accuracy of the information concerning him or it contained
therein, but shall not be responsible for the completeness and accuracy of the
information concerning any other party contained therein, except to the extent
that he or it knows or has reason to believe that such information is
inaccurate.
3. This Agreement shall continue unless terminated by any party
hereto.
4. The Unofficial Unitholder Oversight Committee of Falcon Cable
Systems Company, c/o Abner B. Kurtin of The Baupost Group, Inc. (with copy to
Charles H. Baker, Esq. of Battle Fowler LLP) shall be designated as the person
authorized to receive notices and communications with respect to the Schedule
13D and any amendments thereto.
5. This Agreement may be executed in counterparts, each of which
taken together shall constitute one and the same instrument.
6. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without regard to such State's
conflicts of laws principles.
330610.1
<PAGE>
SIGNATURE PAGE TO JOINT FILING AGREEMENT
IN WITNESS WHEREOF, the undersigned have executed this Agreement in
one or more counterparts as of the date first above written.
CUMBERLAND ASSOCIATES
By: /s/Richard Reiss Jr.
Name: Richard Reiss, Jr.
Title: Managing Partner
THE BAUPOST GROUP, INC.
By: ___________________________
Name: _____________________
Title: _____________________
HARVEST CAPITAL, L.P.
By: ___________________________
Name: _____________________
Title: _____________________
TWEEDY, BROWNE COMPANY L.P.
By: ___________________________
Name: _____________________
Title: _____________________
___________________________
ARTHUR ZANKEL
- 2 -
330610.1
<PAGE>
SIGNATURE PAGE TO JOINT FILING AGREEMENT
IN WITNESS WHEREOF, the undersigned have executed this Agreement in
one or more counterparts as of the date first above written.
CUMBERLAND ASSOCIATES
By: ___________________________
Name: _____________________
Title: _____________________
THE BAUPOST GROUP, INC.
By: /s/ Paul Gannon
Name: Paul Gannon
Title: Chief Financial and
Administrative Officer
HARVEST CAPITAL, L.P.
By: ___________________________
Name: _____________________
Title: _____________________
TWEEDY, BROWNE COMPANY L.P.
By: ___________________________
Name: _____________________
Title: _____________________
___________________________
ARTHUR ZANKEL
- 2 -
330610.1
<PAGE>
SIGNATURE PAGE TO JOINT FILING AGREEMENT
IN WITNESS WHEREOF, the undersigned have executed this Agreement in
one or more counterparts as of the date first above written.
CUMBERLAND ASSOCIATES
By: ___________________________
Name: _____________________
Title: _____________________
THE BAUPOST GROUP, INC.
By: ___________________________
Name: _____________________
Title: _____________________
HARVEST CAPITAL, L.P.
By: /s/ J. Morgan Rutman
Name: J. Morgan Rutman
Title: General Partner
TWEEDY, BROWNE COMPANY L.P.
By: ___________________________
Name: _____________________
Title: _____________________
___________________________
ARTHUR ZANKEL
- 2 -
330610.1
<PAGE>
SIGNATURE PAGE TO JOINT FILING AGREEMENT
IN WITNESS WHEREOF, the undersigned have executed this Agreement in
one or more counterparts as of the date first above written.
CUMBERLAND ASSOCIATES
By: ___________________________
Name: _____________________
Title: _____________________
THE BAUPOST GROUP, INC.
By: ___________________________
Name: _____________________
Title: _____________________
HARVEST CAPITAL, L.P.
By: ___________________________
Name: _____________________
Title: _____________________
TWEEDY, BROWNE COMPANY L.P.
By: /s/Christopher H. Browne
Name: Christopher H. Browne
Title: General Partner
___________________________
ARTHUR ZANKEL
- 2 -
330610.1
<PAGE>
SIGNATURE PAGE TO JOINT FILING AGREEMENT
IN WITNESS WHEREOF, the undersigned have executed this Agreement in
one or more counterparts as of the date first above written.
CUMBERLAND ASSOCIATES
By: ___________________________
Name: _____________________
Title: _____________________
THE BAUPOST GROUP, INC.
By: ___________________________
Name: _____________________
Title: _____________________
HARVEST CAPITAL, L.P.
By: ___________________________
Name: _____________________
Title: _____________________
TWEEDY, BROWNE COMPANY L.P.
By: ___________________________
Name: _____________________
Title: _____________________
/s/Arthur Zankel
ARTHUR ZANKEL
- 2 -
330610.1
