STRATFORD AMERICAN CORP
SC 13G/A, 1998-02-13
AUTO RENTAL & LEASING (NO DRIVERS)
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549





                                  SCHEDULE 13G
                                 (Rule 13d-102)

                Information to be Included in Statements Pursuant
                to Rules 13d-1(b) and (c) and Amendments Thereto
                           Filed Pursuant to 13d-2(b)
                              (Amendment No. Two)*


                         Stratford American Corporation
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                          Common Stock, $0.01 par value
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   86279E 10 2
- --------------------------------------------------------------------------------
                                 (CUSIP Number)









*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).
                                  Page 1 of 4
<PAGE>
- ---------------------                                          -----------------
CUSIP No. 86279E 10 2                 13G                      Page 2 of 4 Pages
- ---------------------                                          -----------------
- --------------------------------------------------------------------------------
1.             NAMES OF REPORTING PERSONS
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
                        Gerald J. Colangelo
- --------------------------------------------------------------------------------
2.             CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [_]
                                                                         (b) [_]
- --------------------------------------------------------------------------------
3.             SEC USE ONLY

- --------------------------------------------------------------------------------
 4.            CITIZENSHIP OR PLACE OF ORGANIZATION
                        United States (Arizona)
- --------------------------------------------------------------------------------
                                  5.            SOLE VOTING POWER
    NUMBER OF SHARES
      BENEFICIALLY                ----------------------------------------------
      OWNED BY EACH               6.            SHARED VOTING POWER             
    REPORTING PERSON                                 6,079,519
          WITH                    ----------------------------------------------
                                  7.            SOLE DISPOSITIVE POWER          
                                                                                
                                  ----------------------------------------------
                                  8.            SHARED DISPOSITIVE POWER        
                                                     6,079,519                  
- --------------------------------------------------------------------------------
9.              AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                         6,079,519
- --------------------------------------------------------------------------------
10.             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN 
                SHARES*                                                      [_]
- --------------------------------------------------------------------------------
11.             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                         6.9%
- --------------------------------------------------------------------------------
12.             TYPE OF REPORTING PERSON*
                         IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Item 1(a).        Name of Issuer

The name of the issuer is Stratford American Corporation.

Item 1(b).        Address of Issuer's Principal Executive Offices

The address of the  issuer's  principal  executive  offices is 2400 East Arizona
Biltmore Circle, Building 2, Suite 1270, Phoenix, Arizona 85016.

Item 2(a).        Name of Person Filing

The name of the person filing this statement is Gerald J. Colangelo.

Item 2(b).        Address of Principal Business Office or, if None, Residence

The address of Mr.  Colangelo's  principal business office is 201 East Jefferson
Street, Phoenix, Arizona 85004.

Item 2(c).        Citizenship

Mr. Colangelo is a citizen of the United States (Arizona).

Item 2(d).        Title of Class of Securities

This statement relates to Common Stock, $0.01 par value.

Item 2(e).        CUSIP Number

The issuer's CUSIP Number is 86279E 10 2.

Item 3.           If this  statement  is filed  pursuant to Rules  13d-1(b),  or
                  13d-2(b), check whether the person filing is a:

Not applicable.

Item 4.           Ownership

(a)      At December 31, 1997, Mr. Colangelo beneficially owned 6,079,519 shares
         of the  issuer's  Common  Stock.  Mr.  Colangelo  is a 25%  member of a
         limited liability company, JDMD Investments,  L.L.C. ("JDMD"), formerly
         known as JDMK  Investments,  L.L.C.  This number  represents 25% of the
         24,318,077 shares held by JDMD.

(b)      At  December  31,  1997,  Mr.  Colangelo  held  6.9%  of  the  issuer's
         outstanding Common Stock.

(c)      At December  31,  1997,  Mr.  Colangelo  shared the power to vote or to
         direct  the  vote and to  dispose  or  direct  the  disposition  of the
         6,079,519 shares beneficially owned by him.
                                  Page 3 of 4
<PAGE>
Item 5.           Ownership of Five Percent or Less of a Class

Not applicable.

Item 6.           Ownership  of More than  Five  Percent  on  Behalf of  Another
                  Person

JDMD is known to have the right to receive or the power to direct the receipt of
dividends  from, or the proceeds  from the sale of, the  6,079,519  shares which
were  beneficially  owned by Mr.  Colangelo at December 31, 1997. The members of
JDMD are Messrs. Colangelo, Mel L. Shultz, David H. Eaton and Dale M. Jensen.

Item 7.           Identification  and  Classification  of the  Subsidiary  Which
                  acquired the Security  Being Reported on by the Parent Holding
                  Company

Not applicable.

Item 8.           Identification and Classification of Members of the Group

Not applicable.

Item 9.           Notice of Dissolution of Group

Not applicable.

Item 10.          Certification

Not applicable.

                                    SIGNATURE

         After reasonable  inquiry and to the best of my knowledge and belief, I
certify that the information  set forth in this statement is true,  complete and
correct.

                                             February 1, 1998
                                             -----------------------------------
                                             Date

                                                   /s/ Gerald J. Colangelo
                                             -----------------------------------
                                             Signature

                                             Gerald J. Colangelo
                                             -----------------------------------
                                             Name/Title
                                  Page 4 of 4


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