<PAGE>
CUSIP NO. 878190107
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment #2)
TEARDROP GOLF COMPANY
---------------------
(Name of Issuer)
COMMON STOCK
------------
(Title of Class of Securities)
878190107
---------
(CUSIP Number)
JUNE 30, 1999 (Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this schedule is filed:
(X) Rule 13d-1(b)
( ) Rule 13d-1(c)
( ) Rule 13d-1(d)
* 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).
(Continued on following page(s))
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CUSIP NO. 878190107
- ------------------------------------------------------------------------------
1) Name of Reporting Person SAFECO Common Stock Trust
S.S. or I.R.S. Identifica-
tion No. of Above Person
- ------------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group ----------------------------------
(See Instructions) (b)
- ------------------------------------------------------------------------------
3) SEC Use Only
- ------------------------------------------------------------------------------
4) Citizenship or Place of State of Delaware
Organization
- ------------------------------------------------------------------------------
Number of (5) Sole Voting
Shares Bene- Power 0
ficially
Owned by ------------------------------------------------------------
Reporting (6) Shared Voting 0
Person With Power
------------------------------------------------------------
(7) Sole Disposi-
tive Power 0
------------------------------------------------------------
(8) Shared
Dispositive Power 0
- ------------------------------------------------------------------------------
9) Aggregate Amount Bene- 0
ficially Owned by
Reporting Person
- ------------------------------------------------------------------------------
10) Check if the Aggregate
Amount in Row (9) Excludes
Certain Shares (See Instructions)
- ------------------------------------------------------------------------------
11) Percent of Class
Represented by Amount in Row 9 0%
- ------------------------------------------------------------------------------
12) Type of Reporting Person IV
(See Instructions)
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CUSIP NO. 878190107
- ------------------------------------------------------------------------------
1) Name of Reporting Person SAFECO Asset Management
S.S. or I.R.S. Identifica- Company
tion No. of Above Person
- ------------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group ----------------------------------
(See Instructions) (b)
- ------------------------------------------------------------------------------
3) SEC Use Only
- ------------------------------------------------------------------------------
4) Citizenship or Place of State of Washington
Organization
- ------------------------------------------------------------------------------
Number of (5) Sole Voting
Shares Bene- Power 0
ficially
Owned by ------------------------------------------------------------
Reporting (6) Shared Voting
Person With Power 252,500
------------------------------------------------------------
(7) Sole Disposi-
tive Power 0
------------------------------------------------------------
(8) Shared
Dispositive Power 252,500
- ------------------------------------------------------------------------------
9) Aggregate Amount Bene- 252,500
ficially Owned by
Reporting Person
- ------------------------------------------------------------------------------
10) Check if the Aggregate
Amount in Row (9) Excludes
Certain Shares (See Instructions)
- ------------------------------------------------------------------------------
11) Percent of Class Represented
by Amount in Row 9 0%
- ------------------------------------------------------------------------------
12) Type of Reporting Person IA
(See Instructions)
- --------
The Reporting Person disclaims any beneficial ownership of the
shares reported on this joint 13G. The reported shares are
owned beneficially by registered investment companies for
which the Reporting Person serves as an adviser.
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CUSIP NO. 878190107
- ------------------------------------------------------------------------------
1) Name of Reporting Person SAFECO Corporation
S.S. or I.R.S. Identifica-
tion No. of Above Person
- ------------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group ----------------------------------
(See Instructions) (b)
- ------------------------------------------------------------------------------
3) SEC Use Only
- ------------------------------------------------------------------------------
4) Citizenship or Place of Organization State of Washington
- ------------------------------------------------------------------------------
Number of (5) Sole Voting
Shares Bene- Power 0
ficially
Owned by ------------------------------------------------------------
Reporting (6) Shared Voting
Person With Power 252,500
------------------------------------------------------------
(7) Sole Disposi-
tive Power 0
------------------------------------------------------------
(8) Shared
Dispositive Power 252,500
- ------------------------------------------------------------------------------
9) Aggregate Amount Beneficially 252,500
Owned by Reporting Person
- ------------------------------------------------------------------------------
10) Check if the Aggregate
Amount in Row (9) Excludes
Certain Shares (See Instructions)
- ------------------------------------------------------------------------------
11) Percent of Class Represented
by Amount in Row 9 4.87%
- ------------------------------------------------------------------------------
12) Type of Reporting Person HC
(See Instructions)
- ------------------------------------------------------------------------------
- --------
The Reporting Person disclaims any beneficial ownership of the
shares reported on this joint 13G. The reported shares are
owned beneficially by registered investment companies for
which a subsidiary of the Reporting Person serves as adviser.
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CUSIP NO. 878190107
<TABLE>
<S> <C>
Item 1(a). Name of Issuer: See front cover
Item 1(b). Address of Issuer Principal Executive Offices:
1080 Louson Road, Union, New Jersey 07083
Item 2(a). Name of Person(s) Filing: See Item 1 on cover page (pp 2-4).
Item 2(b). Address of Principal Business Office or, If None, Residence:
SAFECO Common Stock Trust: 10865 Willows Road NE, Redmond, WA 98052
SAFECO Corporation: SAFECO Plaza, Seattle, WA 98185
SAFECO Asset Management Company: 601 Union Street, Suite 2500,
Seattle, WA 98101
Item 2(c). Citizenship: See Item 4 on cover page (pp 2-4).
Item 2(d). Title of Class of Securities: See front cover page.
Item 2(e). CUSIP Number: See front cover page.
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or
13d-2(b) or (c), check whether the persons filing are:
(a) ( )Broker or Dealer registered under Section 15 of the Act.
(b) ( )Bank as defined in Section 3(a)(6) of the Act.
(c) ( )Insurance Company as defined in Section 3(a)(19) of the Act.
(d) (X)Investment Company registered under Section 8 of the Investment
Company Act of 1940.
(e) (X)Investment Advisor registered under Section 203
of the Investment Advisers Act of 1940.
(f) ( )Employee Benefit Plan, Pension Fund which is subject to provisions of
Employee Retirement Income Security Act of 1974 or
Endowment Fund; see Rule 13d-1(b)(1)(ii)(F).
(g) (X)Parent Holding Company in accordance with Rule 13d-1(b)(ii)(G).
(h) ( )Savings Association as defined in Section 3(b) of the Federal
Deposit Insurance Act.
(i) ( )Church Plan that is excluded from the definition of
an investment company under Section 3(c)(14) of the
Investment Company Act of 1940.
(j) ( )Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
</TABLE>
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CUSIP NO. 878190107
Item 4. Ownership:
Items (a) through (c): See items 1 and 5-11 of the cover pages
(pp 2-4).
SAFECO Asset Management Company and SAFECO Corporation
expressly declare that the filing of this statement on
Schedule 13G shall not be construed as an admission that they
are, for the purposes of Section 13(d) or 13(g) of the
Securities and Exchange Act of 1934, the beneficial owners of
any securities covered by this statement. Each of such
companies is filing this statement because it is considered an
indirect beneficial owner of such securities based on its
ownership or control of one or more investment companies which
directly own such shares.
Item 5. Ownership of 5% or Less of a Class:
This statement is filed to report that as of June 30, 1999,
the reporting persons have ceased to be the beneficial owners
of more than 5% of the common stock of Teardrop Golf Company.
Item 6. Ownership of More than 5% on Behalf of Another Person: Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
SAFECO Asset Management Company is the subsidiary on which
SAFECO Corporation is reporting as the parent holding company.
SAFECO Asset Management Company is an investment adviser as
specified in Item 12 on the cover page (p. 3), and reported
shares are owned beneficially by registered investment
companies for which SAFECO Asset Management Company serves as
investment adviser.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group. Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired and
are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer of
such securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
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CUSIP NO. 878190107
Exhibits.
The statement required by Rule 13d-1(f) is attached as
Exhibit A.
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.
Date: July 7, 1999 SAFECO Corporation
By /s/ Ronald L. Spaulding
------------------------------
Ronald L. Spaulding, Treasurer
SAFECO Common Stock Trust
By /s/ Ronald L. Spaulding
------------------------------
Ronald L. Spaulding, Treasurer
SAFECO Asset Management Company
By /s/ Neal A. Fuller
------------------------------
Neal A. Fuller, Secretary
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CUSIP NO. 878190107
EXHIBIT A
Agreement for filing Schedule 13-G.
Pursuant to the requirements of Regulation 13d-1(d), SAFECO Corporation, SAFECO
Asset Management Company, and SAFECO Common Stock Trust each agree that Schedule
13-G filed by them with regard to Teardrop Golf Company's common stock is filed
on behalf of each of them.
Date: July 7, 1999 SAFECO Corporation
By /s/ Ronald L. Spaulding
------------------------------
Ronald L. Spaulding, Treasurer
SAFECO Common Stock Trust
By /s/ Ronald L. Spaulding
------------------------------
Ronald L. Spaulding, Treasurer
SAFECO Asset Management Company
By /s/ Neal A. Fuller
------------------------------
Neal A. Fuller, Secretary
