================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 11)
-----------
VENATOR GROUP, INC.
(formerly named Woolworth Corporation)
(Name of Issuer)
Common Stock, $.01 par value per share 980883 10 2
(Title of class of securities) (CUSIP number)
Gary K. Duberstein, Esq.
Greenway Partners, L.P.
277 Park Avenue, 27th Floor
New York, New York 10172
(212) 350-5100
(Name, address and telephone number of person authorized
to receive notices and communications)
January 19, 2001
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [_].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 15 pages)
================================================================================
NY2:\1004252\04\L$VW04!.DOC\56392.0003
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 980883 10 2 13D Page 2 of 15 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENWAY PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3714238
OF ABOVE PERSON
------------------ -------------------------------------------------------------
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 ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 2,350,000
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 2,350,000
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 2,350,000
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.7%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------ -------------------------------------------------------------
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 980883 10 2 13D Page 3 of 15 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENTREE PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3752875
OF ABOVE PERSON
------------------ -------------------------------------------------------------
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 ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 1,500,900
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 1,500,900
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 1,500,900
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.1%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------ -------------------------------------------------------------
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 980883 10 2 13D Page 4 of 15 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENHOUSE PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3793447
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: WC, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,350,000
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,350,000
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 2,350,000
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.7%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------ -------------------------------------------------------------
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 980883 10 2 13D Page 5 of 15 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENHUT, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3793450
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: WC, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,500,900
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,500,900
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 1,500,900
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.1%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------ -------------------------------------------------------------
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 980883 10 2 13D Page 6 of 15 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENBELT CORP.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3791931
OF ABOVE PERSON
------------------ -------------------------------------------------------------
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 ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 11,201,322
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 11,201,322
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 11,201,322
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.1%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------ -------------------------------------------------------------
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 980883 10 2 13D Page 7 of 15 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENSEA OFFSHORE, L.P.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
------------------ -------------------------------------------------------------
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 ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 2,250,000
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 2,250,000
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 2,250,000
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.6%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------ -------------------------------------------------------------
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 980883 10 2 13D Page 8 of 15 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GREENHUT OVERSEAS, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3868906
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: WC, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,250,000
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,250,000
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 2,250,000
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.6%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------ -------------------------------------------------------------
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 980883 10 2 13D Page 9 of 15 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON ALFRED D. KINGSLEY
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: PF, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 832,300
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 17,302,222
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 832,300
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 17,302,222
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 18,134,522
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 13.1%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
------------------ -------------------------------------------------------------
<PAGE>
----------------------------------- ----------------------------------
CUSIP No. 980883 10 2 13D Page 10 of 15 Pages
----------------------------------- ----------------------------------
------------------ -------------------------------------------------------------
1 NAME OF REPORTING PERSON GARY K. DUBERSTEIN
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
------------------ -------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [_]
------------------ -------------------------------------------------------------
3 SEC USE ONLY
------------------ -------------------------------------------------------------
4 SOURCE OF FUNDS: PF, AF, OO
------------------ -------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------ -------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 17,302,222
OWNED BY
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 17,302,222
------------------ -------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON: 17,302,222
------------------ -------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [_]
------------------ -------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 12.5%
------------------ -------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
------------------ -------------------------------------------------------------
<PAGE>
This Amendment No. 11 ("Amendment No. 11") amends the
Statement on Schedule 13D (the "Schedule 13D") filed on May 18, 1998, as amended
by Amendment No. 1 filed on June 5, 1998, Amendment No. 2 filed on July 7, 1998,
Amendment No. 3 filed on August 23, 1998, Amendment No. 4 filed on October 2,
1998, Amendment No. 5 filed on December 1, 1998, Amendment No. 6 filed on
January 6, 1999, Amendment No. 7 filed on January 29, 1999, Amendment No. 8
filed on March 12, 1999, Amendment No. 9 filed on March 25, 1999 and Amendment
No. 10 filed on March 13, 2000 and is filed by and on behalf of Greenway
Partners, L.P. ("Greenway"), Greentree Partners, L.P. ("Greentree"), Greenhouse
Partners, L.P. ("Greenhouse"), Greenhut, L.L.C. ("Greenhut"), Greenbelt Corp.
("Greenbelt"), Greensea Offshore, L.P. ("Greensea"), Greenhut Overseas, L.L.C.
("Greenhut Overseas"), Alfred D. Kingsley ("Kingsley") and Gary K. Duberstein
("Duberstein"; the foregoing persons being referred to collectively as the
"Reporting Persons"). Capitalized terms used herein and not defined herein have
the meanings ascribed thereto in the Schedule 13D.
Except as indicated above, the information set forth in
Item 2 of the Schedule 13D remains unchanged.
ITEM 4. PURPOSE OF THE TRANSACTION
On January 19, 2001, Greenway delivered a letter to the
Issuer addressed to Dale N. Hilpert, Chairman of the Board and Chief Executive
Officer (the "January 19 Letter"). The January 19 Letter sets forth, among other
things, recommendations regarding the Issuer's business strategy. A copy of the
January 19 Letter is filed as Exhibit 20 hereto and is incorporated herein by
reference.
Except as indicated above, the information set forth in
Item 4 of the Schedule 13D remains unchanged.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of the date of this Statement, the Reporting Persons
beneficially owned in the aggregate 18,134,522 Shares constituting 13.1% of the
outstanding Shares (the percentage of Shares owned being based upon 138,028,871
Shares outstanding on December 1, 2000, as set forth in the Issuer's quarterly
report on Form 10-Q for the fiscal quarter ended October 28, 2000). The
Reporting Persons may be deemed to have direct beneficial ownership of Shares as
follows:
Approximate
Number of Percentage of
Name Shares Outstanding Shares
---- --------- ------------------
Greenway 2,350,000 1.7%
Greentree 1,500,900 1.1%
Greenbelt 11,201,322 8.1%
Greensea 2,250,000 1.6%
Kingsley 832,300 0.6%
Greenhouse, as the general partner of Greenway, may be
deemed to own beneficially (as that term is defined in Rule 13d-3 under the
Securities Exchange Act of 1934) Shares of which Greenway may be deemed to
possess direct beneficial ownership. Each of Kingsley and Duberstein, as general
partners of Greenhouse, may be deemed to beneficially own Shares which
11
<PAGE>
Greenhouse may be deemed to beneficially own. Each of Kingsley and Duberstein
disclaims beneficial ownership of such Shares for all other purposes.
Greenhut, as the general partner of Greentree, may be
deemed to own beneficially (as that term is defined in Rule 13d-3 under the
Securities Exchange Act of 1934) Shares of which Greentree may be deemed to
possess direct beneficial ownership. Each of Kingsley and Duberstein, as members
of Greenhut, may be deemed to beneficially own Shares which Greenhut may be
deemed to beneficially own. Each of Kingsley and Duberstein disclaims beneficial
ownership of such Shares for all other purposes.
Greenhut Overseas, as the investment general partner of
Greensea, may be deemed to own beneficially (as that term is defined in Rule
13d-3 under the Securities Exchange Act of 1934) Shares of which Greensea may be
deemed to possess direct beneficial ownership. Each of Kingsley and Duberstein,
as members of Greenhut Overseas, may be deemed to beneficially own Shares which
Greenhut Overseas may be deemed to beneficially own. Each of Kingsley and
Duberstein disclaims beneficial ownership of such Shares for all other purposes.
Greenbelt has direct beneficial ownership of the Shares in
the accounts that it manages. Each of Kingsley and Duberstein, as executive
officers and directors of Greenbelt, may be deemed to beneficially own Shares
that Greenbelt beneficially owns. Each of Kingsley and Duberstein hereby
disclaims beneficial ownership of such Shares for all other purposes.
(b) Greenway has the sole power to vote or direct the vote
of 2,350,000 Shares and the sole power to dispose or to direct the disposition
of such Shares. Greenhouse and Kingsley and Duberstein may be deemed to share
with Greenway the power to vote or to direct the vote and to dispose or to
direct the disposition of such Shares.
Greentree has the sole power to vote or direct the vote of
1,500,900 Shares and the sole power to dispose or direct the disposition of such
Shares. Greenhut, Kingsley and Duberstein may be deemed to share with Greentree
the power to vote or to direct the vote and to dispose or to direct the
disposition of such Shares.
Greensea has the sole power to vote or direct the vote of
2,250,000 Shares and the sole power to dispose or direct the disposition of such
Shares. Greenhut Overseas, Kingsley and Duberstein may be deemed to share with
Greensea the power to vote or to direct the vote and to dispose or to direct the
disposition of such Shares.
Greenbelt has the sole power to vote or direct the vote of
11,201,322 Shares and the sole power to dispose or direct the disposition of
such Shares. Kingsley and Duberstein may be deemed to share with Greenbelt the
power to vote or to direct the vote and to dispose or to direct the disposition
of such Shares.
Kingsley has the sole power to vote or direct the vote of
832,300 Shares and the sole power to dispose or direct the disposition of such
Shares.
(c) Information concerning transactions in the Shares by
the Reporting Persons during the last sixty days is set forth in Exhibit 21,
attached hereto, which is incorporated herein by reference.
12
<PAGE>
(d) No other person 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 Shares, except the dividends from, or proceeds from the sale of
Shares in each respective account managed by Greenbelt will be delivered into
each such respective account, as the case may be. No such individual account has
an interest in more than five percent of the class of outstanding Shares.
(e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following Exhibits are filed herewith:
20. January 19 Letter from Greenway to Dale N. Hilpert,
Chairman of the Board and Chief Executive Officer of the Issuer.
21. Information concerning transactions in the Shares
effected by the Reporting Persons during the past sixty days.
[The remainder of this page intentionally left blank.]
13
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of their knowledge
and belief, the undersigned certify that the information contained in this
Statement is true, complete and correct.
Dated: January 19, 2001
GREENHOUSE PARTNERS, L.P. GREENTREE PARTNERS, L.P.
By: /s/ Gary K. Duberstein By: Greenhut, L.L.C.
----------------------------- General Partner
Gary K. Duberstein
General Partner By: /s/ Gary K. Duberstein
-------------------------
Gary K. Duberstein
Member
GREENHUT, L.L.C. GREENSEA OFFSHORE, L.P.
By: /s/ Gary K. Duberstein By: Greenhut Overseas, L.L.C.
----------------------------- Investment General Partner
Gary K. Duberstein
Member By: /s/ Gary K. Duberstein
-------------------------
Gary K. Duberstein
Member
GREENHUT OVERSEAS, L.L.C. GREENBELT CORP.
By: /s/ Gary K. Duberstein By: /s/ Alfred D. Kingsley
----------------------------- -----------------------------
Gary K. Duberstein Alfred D. Kingsley
Member President
GREENWAY PARTNERS, L.P.
By: Greenhouse Partners, L.P. /s/ Alfred D. Kingsley
General Partner ---------------------------------
ALFRED D. KINGSLEY
By: /s/ Gary K. Duberstein
-------------------------
Gary K. Duberstein /s/ Gary K. Duberstein
General Partner ---------------------------------
GARY K. DUBERSTEIN
14
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
----------- -----------
20. January 19 Letter from Greenway to Dale N. Hilpert,
Chairman of the Board and Chief Executive Officer of
the Issuer.
21. Information concerning transactions in the Shares
effected by the Reporting Persons during the past
sixty days.
15
