<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
--------------------
SCHEDULE 13D
(AMENDMENT NO. 5)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
--------------------
CALIFORNIA COASTAL COMMUNITIES, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.05 PER SHARE
(Title of Class of Securities)
129915104
---------
(CUSIP Number of Class of Securities)
BRYAN J. BLANKFIELD
ASSISTANT GENERAL COUNSEL
WASTE MANAGEMENT, INC.
1001 FANNIN STREET, SUITE 4000
HOUSTON, TEXAS 77002
(713) 746-1500
(Name, Address and Telephone Number of Persons Authorized to
Receive Notices and Communications)
COPY TO:
DALE B. TAUKE, ESQ.
WINSTON & STRAWN
35 WEST WACKER DRIVE
SUITE 4200
CHICAGO, ILLINOIS 60601
(312) 558-5600
JUNE 1, 1999
(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 [ ].
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SCHEDULE 13D
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CUSIP No. 129915104
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Waste Management, Inc. (as ultimate parent of Waste Management
Holdings, Inc., Wheelabrator Technologies Inc. and Resco Holdings
Inc.)
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUND
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
- --------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER - 0
BENEFICIALLY OWNED BY -----------------------------------------------------
EACH PERSON WITH 8. SHARED VOTING POWER - 0
-----------------------------------------------------
9. SOLE DISPOSITIVE POWER - 0
-----------------------------------------------------
10. SHARED DISPOSITIVE POWER - 0
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT ON ROW (11)
0%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON - CO
- --------------------------------------------------------------------------------
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<PAGE> 3
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP No. 129915104
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Waste Management Holdings, Inc. (as parent corporation to Wheelabrator
Technologies Inc. and Resco Holdings Inc.)
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(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
- --------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER - 0
BENEFICIALLY OWNED BY -------------------------------------------------------
EACH PERSON WITH 8. SHARED VOTING POWER - 0
-------------------------------------------------------
9. SOLE DISPOSITIVE POWER - 0
-------------------------------------------------------
10. SHARED DISPOSITIVE POWER - 0
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT ON ROW (11)
0%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON - CO
- --------------------------------------------------------------------------------
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<PAGE> 4
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP No. 129915104
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Wheelabrator Technologies Inc. (shares directly held plus shares
indirectly held as sole stockholder of Resco Holdings Inc.)
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(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
- --------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER - 0
BENEFICIALLY OWNED BY ------------------------------------------------------
EACH PERSON WITH 8. SHARED VOTING POWER - 0
------------------------------------------------------
9. SOLE DISPOSITIVE POWER - 0
------------------------------------------------------
10. SHARED DISPOSITIVE POWER - 0
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT ON ROW (11)
0%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON - CO
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<PAGE> 5
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP No. 129915104
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Resco Holdings Inc.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(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
- --------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER - 0
BENEFICIALLY OWNED BY -------------------------------------------------------
EACH PERSON WITH 8. SHARED VOTING POWER - 0
-------------------------------------------------------
9. SOLE DISPOSITIVE POWER - 0
-------------------------------------------------------
10. SHARED DISPOSITIVE POWER - 0
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT ON ROW (11)
0%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON - CO
- --------------------------------------------------------------------------------
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<PAGE> 6
This amendment No. 5 to the Statement on Schedule 13D (this
"Schedule") filed with the Securities and Exchange Commission on July 15, 1992,
as amended by Amendment No. 1 filed on July 27, 1992, by Amendment No. 2 filed
on December 10, 1993, Amendment No. 3 filed on December 15, 1993 and Amendment
No. 4 filed on April 16, 1999. Other than as set forth herein, there have been
no material changes in the information set forth in Items 1 through 7 of this
Schedule as amended.
ITEM 4. PURPOSE OF TRANSACTION.
The last paragraph of Item 4 is amended to read as follows:
Pursuant to the Call/Put Agreement among the Company,
Wheelabrator Technologies Inc. and Resco Holdings Inc. dated April 8, 1999, the
Company had the right to require Wheelabrator Technologies Inc. and Resco
Holdings Inc. to sell, and Wheelabrator Technologies Inc. and Resco Holdings
Inc. had the right to require the Company to buy, 1,226,608 shares of Common
Stock at $5.75 per share during the period commencing June 1, 1999 and
terminating June 30, 1999. The Call/Put Agreement is incorporated into this
Schedule by reference to Exhibit 2 of California Coastal Communities, Inc.
Schedule 13D Amendment No. 4 filed with the Securities and Exchange Commission
on April 16, 1999. Wheelabrator Technologies Inc. sold, and caused Resco
Holdings Inc. to sell, their respective shares of Common Stock pursuant to the
Call/Put Agreement on June 1, 1999.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY.
Item 5 (a) of Amendment No. 4 is amended by deleting it in its
entirety and replacing it with the following:
(a) As ultimate parent corporation to Wheelabrator
Technologies Inc. and Resco Holdings Inc., Waste Management, Inc. may be deemed
to own beneficially any shares of the Company's Common Stock owned beneficially
by Wheelabrator Technologies Inc. or Resco Holdings Inc. As parent corporation
to Wheelabrator Technologies Inc. and Resco Holdings Inc., Waste Management
Holdings, Inc. may be deemed to own beneficially any shares of the Company's
Common Stock beneficially owned by Wheelabrator Technologies Inc. or Resco
Holdings Inc. As a result of the completion of the transaction described in
Item 4 above, on June 1, 1999, none of Waste Management, Inc., Waste Management
Holdings, Inc., Wheelabrator Technologies Inc. or Resco Holdings, Inc. (the
"Reporting Entities") beneficially own, directly or indirectly, any shares of
the Company's Common Stock.
Item 5 (b) of Amendment No. 4 is amended by deleting it in its
entirety and replacing it with the following:
(b) None of the Reporting Entities have: (i) any power to vote
or direct the voting of shares of the Company's Common Stock or (ii) any power
to dispose or direct the disposition of shares of the Company's Common Stock.
-6-
<PAGE> 7
Item 5 (c) of Amendment No. 4 is amended by deleting it in its
entirety and replacing it with the following:
(c) Except for the execution of the Call/Put Agreement and
sale of the Company's Common Stock pursuant thereto, none of the Reporting
Entities have effected a transaction involving the Common Stock of the Company
in the past 60 days nor filed a Schedule 13D with respect to the Common Stock of
the Company in the past 60 days.
ITEM 6. CONTRACTS, ARRANGEMENTS OR UNDERSTANDINGS WITH RESPECT TO
SECURITIES OF THE COMPANY.
Item 6 is amended by adding the following:
Pursuant to the Call/Put Agreement, the Reporting Entities
disposed of their entire interest in the Common Stock of the Company on June 1,
1999.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Joint Filing Agreement between and among the
Reporting Entities dated August 26, 1999, filed
herewith
2. Call/Put Agreement among the Company, Wheelabrator
Technologies Inc. and Resco Holdings Inc. dated April
8, 1999, incorporated by reference to Exhibit 2 to
California Coastal Communities, Inc. Schedule 13D
Amendment No. 4, filed April 16, 1999.
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<PAGE> 8
SIGNATURES
After reasonable inquiry and to the best of each of the undersigned's knowledge
and belief, each of the undersigned certifies that the information set forth in
this Statement is true, complete and correct.
Dated: August 26, 1999
WASTE MANAGEMENT, INC.
By: /s/ BRYAN J. BLANKFIELD
--------------------------------------
Name: Bryan J. Blankfield
Title: Assistant Secretary
WASTE MANAGEMENT HOLDINGS, INC.
By: /s/ BRYAN J. BLANKFIELD
--------------------------------------
Name: Bryan J. Blankfield
Title: Assistant Secretary
WHEELABRATOR TECHNOLOGIES INC.
By: /s/ BRYAN J. BLANKFIELD
--------------------------------------
Name: Bryan J. Blankfield
Title: Assistant Secretary
RESCO HOLDINGS INC.
By: /s/ BRYAN J. BLANKFIELD
--------------------------------------
Name: Bryan J. Blankfield
Title: Assistant Secretary
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<PAGE> 9
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT
NUMBER DESCRIPTION
- ------- -----------
<S> <C>
1 Joint Filing Agreement between and among the Reporting Entities
dated August 26, 1999, filed herewith
2 Call/Put Agreement between the Company, Wheelabrator Technologies
Inc. and Resco Holdings Inc. dated April 8, 1999, incorporated by
reference to Exhibit 2 to California Coastal Communities, Inc.
Schedule 13D Amendment No. 4, filed April 16, 1999.
</TABLE>
<PAGE> 1
EXHIBIT 1
JOINT FILING AGREEMENT
The undersigned hereby agree that they are filing this statement jointly
pursuant to Rule 13d-1(f)(1). Each of them is responsible for the timely filing
of such Schedule 13D and any amendments thereto, and for the completeness and
accuracy of the information concerning such person contained therein; but none
of them is responsible for the completeness or accuracy of the information
concerning the other persons making the filing, unless such person knows or has
reason to believe that such information is inaccurate.
Dated: August 26, 1999
WASTE MANAGEMENT, INC.
By: /s/ BRYAN J. BLANKFIELD
----------------------------
Name: Bryan J. Blankfield
Title: Assistant Secretary
WASTE MANAGEMENT HOLDINGS, INC.
By: /s/ BRYAN J. BLANKFIELD
----------------------------
Name: Bryan J. Blankfield
Title: Vice President
WHEELABRATOR TECHNOLOGIES INC.
By: /s/ BRYAN J. BLANKFIELD
----------------------------
Name: Bryan J. Blankfield
Title: Vice President
RESCO HOLDINGS INC.
By: /s/ BRYAN J. BLANKFIELD
----------------------------
Name: Bryan J. Blankfield
Title: Vice President
