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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No. 1
Insurance Auto Auctions, Inc.
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(Name of Issuer)
Common Stock, $.001 par value
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(Title of Class of Securities)
457875102
------------------------------------------------
(CUSIP Number)
Page 1 of 7 Pages
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- ---------------
CUSIP NO.
457875102
- ---------------
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
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2. Check the Appropriate Box if a Member of a Group
(a)
-----
(b)
-----
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3. SEC Use Only
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4. Citizenship or place of Organization
New York
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Number of 5. Sole Voting Power
Shares
Beneficially 0
Owned By --------------------------------------
Each 6. Shared Voting Power
Reporting
Person With 680,000
--------------------------------------
7. Sole Dispositive Power
0
--------------------------------------
8. Shared Dispositive Power
680,000
--------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
680,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
5.8%
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12. Type of Reporting Person
BD-PN-IA
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Page 2 of 7 Pages
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CUSIP NO.
457875102
- --------------------
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, L.P.
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2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) _____
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3. SEC Use Only
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4. Citizenship or place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares
Beneficially 0
Owned By -----------------------------------
Each 6. Shared Voting Power
Reporting
Person With 680,000
-----------------------------------
7. Sole Dispositive Power
0
-----------------------------------
8. Shared Dispositive Power
680,000
-----------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
680,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
5.8%
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12. Type of Reporting Person
HC-PN
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Page 3 of 7 Pages
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Item 1(a). Name of Issuer:
Insurance Auto Auctions, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
7245 Laurel Canyon Blvd.
North Hollywood, CA 91605
Item 2(a). Names of Persons Filing:
Goldman, Sachs & Co. and The Goldman Sachs Group, L.P.
Item 2(b). Address of Principal Business Office or, if None, Residence:
85 Broad Street
New York, NY 10004
Item 2(c). Citizenship:
Goldman, Sachs & Co. - New York
The Goldman Sachs Group, L.P. - Delaware
Item 2(d). Title and Class of Securities:
Common Stock, $.001 par value
Item 2(e). CUSIP Number:
457875102
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-
2(b). check whether the person filing is a :
(a).X Broker or dealer registered under Section 15 of the Act,
Goldman, Sachs & Co.
(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). Investment Company registered under Section 8 of the Investment
Company Act,
(e).X Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940,
Goldman, Sachs & Co.
(f). Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see 13d-1(b)(1)(ii)(F),
Page 4 of 7 Pages
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(g).X Parent Holding Company, in accordance with Rule 13d-
1(b)(ii)(G); see Item 7,
The Goldman Sachs Group, L.P.
(h). Group, in accordance with Rule 13d-1(b)(ii)(H).
Item 4. Ownership.
(a). Amount beneficially owned:
See the responses(s) to Item 9 on the attached cover page(s).
(b). Percent of class:
See the response(s) to Item 11 on the attached cover page(s).
(c). Number of shares as to which such person has:
(i). Sole power to vote or to direct the vote:
See the response(s) to Item 5 on the attached cover
page(s).
(ii). Shared power to vote or direct the vote:
See the response(s) to Item 6 on the attached cover
page(s).
(iii). Sole power to dispose or to direct the disposition of:
See the response(s) to Item 7 on the attached cover
page(s).
(iv). Shared power to dispose or to direct the disposition
of: See the response(s) to Item 8 on the attached
cover page(s).
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. Not Applicable
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
See Exhibit (2), as previously filed.
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Page 5 of 7 Pages
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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 in
the ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any
transaction having such purpose or effect.
Page 6 of 7 Pages
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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: February 14, 1997
THE GOLDMAN SACHS GROUP, L.P.
By: The Goldman Sachs Corporation,
its general partner
By: /s/ William J. Buckley
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Name: William J. Buckley
Title: Executive Vice President
GOLDMAN, SACHS & CO.
By: /s/ William J. Buckley
-----------------------------------------
Name: William J. Buckley
Title: Managing Director
Page 7 of 7 Pages
