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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No. )(1)
GREAT LAKES AVIATION, LTD
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(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
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(Title of Class of Securities)
39054K 108
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(CUSIP Number)
AUGUST 31, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
if filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-(c)
[ ] Rule 13d-1(d)
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(1) 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 (the "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).
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13G
CUSIP No. 39054K 108 Page 1 of 6 Pages
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1) Name of Reporting Persons
S.S. or I.R.S. Identification No. of Above Persons
Tennenbaum & Co., LLC
IRS No. 95-4587347
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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 5) Sole Voting Power
of
Shares
Beneficially ----------------------------------------------------------------
Owned 6) Shared Voting Power
by
Each
Reporting 500,000
Person ----------------------------------------------------------------
With 7) Sole Dispositive Power
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8) Shared Dispositive Power
500,000
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9) Aggregate Amount Beneficially Owned by Each Reporting Person
500,000
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10) Check Box 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*
OO
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13G
CUSIP No. 39054K 108 Page 2 of 6 Pages
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- -------------------------------------------------------------------------------
1) Name of Reporting Persons
S.S. or I.R.S. Identification No. of Above Persons
Michael E. Tennenbaum
S.S. No. 252 50 6178
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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
- -------------------------------------------------------------------------------
Number 5) Sole Voting Power
of
Shares
Beneficially ----------------------------------------------------------------
Owned 6) Shared Voting Power
by
Each
Reporting 500,000
Person -----------------------------------------------------------
With 7) Sole Dispositive Power
-----------------------------------------------------------
8) Shared Dispositive Power
500,000
- -------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned by Each Reporting Person
500,000
- -------------------------------------------------------------------------------
10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares* / /
- -------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row 9
5.8%
- -------------------------------------------------------------------------------
12) Type of Reporting Person*
OO
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Item 1. ISSUER.
(a) NAME OF ISSUER:
Great Lakes Aviation, Ltd.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1965 330th Street
Spencer, Iowa 51301
Item 2. SECURITY AND BACKGROUND.
(a) NAME OF PERSON FILING:
Michael E. Tennenbaum, individually and as Managing Member of
Tennenbaum & Co., LLC.
(b) PRINCIPAL BUSINESS ADDRESS:
1999 Avenue of the Stars, Suite 1010
Los Angeles, California 90067
(c) PLACE OF ORGANIZATION:
Delaware
(d) TITLE OF CLASS OF SECURITIES:
Common Stock
(e) CUSIP NO.:
39054K 108
Item 3. FILINGS UNDER RULES 13d-1(b), OR 13d-2(b).
Not Applicable.
Item 4. OWNERSHIP.
(a) AMOUNT BENEFICIALLY OWNED:
5.8%
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(b) NUMBER OF SHARES AS TO WHICH THE PERSON HAS VOTING AND DISPOSITIVE
POWER:
Tennenbaum & Co., LLC and Michael E. Tennenbaum have (i) shared
power to vote or to direct the vote of 500,000 shares and (ii) shared
power to dispose or to direct the disposition of 500,000 shares of
Common Stock.
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.
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.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above 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 the 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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SIGNATURES
After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: SEPTEMBER 8, 1998
By: /s/ MICHAEL E. TENNENBAUM
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Michael E. Tennenbaum, and as
Managing Member of
Tennenbaum & Co, LLC
