Item 1. (a) FOSTER WHEELER CORPORATION
(b) Perryville Corporate Park
Clinton, NJ 08809-4000
Item 2. (a) Palley-Needelman Asset Management, Inc.
(b) 800 Newport Center Drive, Suite 450
Newport Beach, CA 92660-6316
(c) California corporation, USA
(d) Common stock, Class A
(e) Cusip: 350244109
Item 3. (e) Person filing is an: Investment Adviser registered
under section 203 of the Investment Advisers Act
of 1940.
Item 4. Ownership
(a) 2,460,650 shares
(b) 6.05%
(c) (i) 2,460,650 shares with sole power to vote or to direct the vote
(iii) 2,460,650 shares with sole power to dispose or to direct
the disposition of.
