<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
ITT Educational Services, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
45068B 10 9
(CUSIP Number)
ITT Corporation
Richard S. Ward 1330 Avenue of the Americas
(212) 258-1327 New York, NY 10019
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 29, 1995
(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 which is the subject of this Schedule 13D, and is
filing this Schedule because of Rule 13d-1(b) (3) or (4), check the following
box / /.
Check the following box if a fee is being paid with the statement
/ X /. (A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of less than five percent of
such class. See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
*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 disclosures provided in a prior cover page.
Page 1 of 31
<PAGE> 2
The information required on 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).
CUSIP No. 45068B 10 9
1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
ITT Destinations, Inc.
88-03400591
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (a) /___/
(See Instructions) (b) /___/
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds (See Instructions) Not Applicable
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) /___/
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization
Nevada
- --------------------------------------------------------------------------------
Number of (7) Sole Voting Power
Shares
Beneficially 10,000,000
Owned By
Each ---------------------------------------------
Reporting
Person (8) Shared Voting Power
With
- 0 -
---------------------------------------------
(9) Sole Dispositive Power
10,000,000
---------------------------------------------
Page 2 of 31
<PAGE> 3
(10) Shared Dispositive Power
-0-
---------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
10,000,000
- --------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) /___/
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)
83.3%
- --------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
CO
- --------------------------------------------------------------------------------
Item 1. Security and Issuer.
Common Stock, $.01 par value, of ITT Educational Services, Inc.,
5975 Castle Creek Parkway, N. Drive, Indianapolis, IN 46250.
Item 2. Identity and Background.
The person filing this statement is ITT Destinations, Inc., a
Nevada corporation ("ITT Destinations"), whose principal business office is
located at 1330 Avenue of the Americas, New York, NY 10019-5490.
ITT Destinations is a wholly-owned subsidiary of ITT Corporation,
a Delaware corporation ("ITT"), whose principal business office is located at
1330 Avenue of the Americas, New York, NY 10019-5490. ITT is a diversified
enterprise engaged through its subsidiaries in Insurance, Industries, and
Hospitality, Entertainment and Information Services.
For information concerning the sole director and executive officer
of ITT Destinations, see Schedule A. For additional information concerning the
directors and executive officers of ITT, see Schedule B.
Neither ITT Destinations nor ITT has been convicted in any
criminal proceeding (excluding traffic violations or similar misdemeanors)
during the past five years, nor, to the best
Page 3 of 31
<PAGE> 4
knowledge and belief of ITT Destinations and ITT, has anyone listed in the
attached Schedule A and Schedule B been convicted in such a proceeding.
To the best knowledge and belief of ITT Destinations and ITT,
during the past five years none of ITT Destinations, ITT or anyone listed on the
attached Schedule A and Schedule B was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
On September 29, 1995, 10,000,000 shares of the Issuer's Common
Stock, $.01 par value, were contributed by ITT to ITT Destinations in
contemplation of a division of the businesses of ITT in which ITT Destinations
will change its name to ITT Corporation and succeed to all of ITT's interests in
its Hospitality, Entertainment and Information Services businesses (of which the
Issuer is a part). There was no consideration paid for the shares.
Item 4. Purpose of Transaction.
The securities reported on herein were acquired through the
contribution described in Item 3. Neither ITT Destinations nor ITT has any plans
or proposals which relate to Item 4(a) through 4(j).
Item 5. Interest in Securities of the Issuer.
ITT Destinations owns 10,000,000 shares (83.3%) of the Issuer's
outstanding Common Stock, $.01 par value. ITT does not own any of the Issuer's
capital stock.
ITT Destinations has sole power with respect to the voting and
disposition of such securities. ITT does not have any such power other than in
its current capacity as parent of ITT Destinations.
There have been no transactions by ITT Destinations or ITT in the
securities of the Issuer during the past sixty days, except for the
above-described receipt by ITT Destinations of 10,000,000 shares of the Issuer's
Common Stock on September 29, 1995.
To the best knowledge of ITT Destinations and ITT, no executive
officer or director of ITT Destinations or ITT (a) owns any shares of the
Issuer's Capital Stock except as indicated on pages 1, 2, 7 and 25 of Schedule
B; (b) has a right to acquire shares of the Issuer's Capital Stock; or (c) has
engaged in any transaction in the Issuer's Capital Stock during the past sixty
days.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
The Issuer's Board of Directors includes two non-employee
directors and four executive officers of ITT, all of whom were designated by ITT
to serve on such Board. All of these persons are
Page 4 of 31
<PAGE> 5
expected to serve in similar capacities with ITT Destinations after the
contemplated division of ITT's businesses and ITT Destinations' change of name
to ITT Corporation.
Item 7. Material to be Filed as Exhibits.
None
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: October 16, 1995 ITT DESTINATIONS, INC.
By
---------------------------------
Robert A. Bowman
President
Page 5 of 31
<PAGE> 6
Schedule A
(Page 1 of 1)
IDENTITY AND BACKGROUND
(a) Robert A. Bowman
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) President, Treasurer and Secretary
ITT Destinations, Inc.
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Page 6 of 31
<PAGE> 7
Schedule B
(Page 1 of 25)
IDENTITY AND BACKGROUND
(a) Bette B. Anderson (a Director of ITT)
(b) 1020 19th Street, N.W.
Suite 800
Washington, D.C. 20036
(c) President
Kelly, Anderson, Pethick & Associates, Inc.
1020 19th Street, N.W.
Suite 800
Washington, D.C. 20036
(f) U.S.
Mrs. Bette B. Anderson is the beneficial owner of 500 shares of ITT
Educational Services, Inc. common stock; all purchased prior to June
30, 1995.
Page 7 of 31
<PAGE> 8
Schedule B
(Page 2 of 25)
IDENTITY AND BACKGROUND
(a) Rand V. Araskog
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Chairman, President, Chief Executive and Director
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Mr. Rand V. Araskog is the beneficial owner of 5,000 shares of ITT
Educational Services, Inc. common stock; all purchased prior to June
30, 1995.
Page 8 of 31
<PAGE> 9
Schedule B
(Page 3 of 25)
IDENTITY AND BACKGROUND
(a) Nolan D. Archibald (a Director of ITT)
(b) 701 East Joppa Road
Towson, MD 21204
(c) Chairman, President and Chief Executive Officer
The Black & Decker Corporation
701 East Joppa Road
Towson, MD 21204
(f) U.S.
Page 9 of 31
<PAGE> 10
Schedule B
(Page 4 of 25)
IDENTITY AND BACKGROUND
(a) Robert A. Bowman
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Executive Vice President and Chief Financial Officer
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Page 10 of 31
<PAGE> 11
Schedule B
(Page 5 of 25)
IDENTITY AND BACKGROUND
(a) Peter A. Boynton
(b) 1801 Century Park East
Los Angeles, CA 90067
(c) Senior Vice President, ITT Corporation
President and Chief Executive Officer
Caesars World, Inc.
1801 Century Park East
Los Angeles, CA 90067
(f) U.S.
Page 11 of 31
<PAGE> 12
Schedule B
(Page 6 of 25)
IDENTITY AND BACKGROUND
(a) Robert A. Burnett (a Director of ITT)
(b) 1716 Locust Street
Des Moines, IA 50309-3023
(c) Chairman and Chief Executive Officer (Retired)
Meredith Corporation
1716 Locust Street
Des Moines, IA 50309-3023
(f) U.S.
Page 12 of 31
<PAGE> 13
Schedule B
(Page 7 of 25)
IDENTITY AND BACKGROUND
(a) Juan C. Cappello
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Senior Vice President and Director, Corporate Relations
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Mr. Juan C. Cappello is the beneficial owner of 200 shares of ITT
Educational Services, Inc. common stock; all purchased prior to June
30, 1995.
Page 13 of 31
<PAGE> 14
Schedule B
(Page 8 of 25)
IDENTITY AND BACKGROUND
(a) Gerald C. Crotty
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Senior Vice President, ITT Corporation
Chairman, President and Chief Executive Officer
ITT Information Services, Inc.
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Page 14 of 31
<PAGE> 15
Schedule B
(Page 9 of 25)
IDENTITY AND BACKGROUND
(a) Jon F. Danski
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Senior Vice President and Controller
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Page 15 of 31
<PAGE> 16
Schedule B
(Page 10 of 25)
IDENTITY AND BACKGROUND
(a) Michel David-Weill (a Director of ITT)
(b) 30 Rockefeller Plaza
New York, NY 10020
(c) Chairman
Lazard Freres & Co. LLC
30 Rockefeller Plaza
New York, NY 10020
(f) French
Page 16 of 31
<PAGE> 17
Schedule B
(Page 11 of 25)
IDENTITY AND BACKGROUND
(a) D. Travis Engen
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Executive Vice President
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Page 17 of 31
<PAGE> 18
Schedule B
(Page 12 of 25)
IDENTITY AND BACKGROUND
(a) S. Parker Gilbert (a Director of ITT)
(b) 1251 Avenue of the Americas
New York, NY 10020
(c) Chairman
Morgan Stanley Advisory Board
1251 Avenue of the Americas
New York, NY 10020
(f) U.S.
Page 18 of 31
<PAGE> 19
Schedule B
(Page 13 of 25)
IDENTITY AND BACKGROUND
(a) Louis J. Giuliano
(b) 1650 Tysons Boulevard
Suite 1700
McLean, VA 22101
(c) Senior Vice President, ITT Corporation
President and Chief Executive Officer
ITT Defense & Electronics, Inc.
1650 Tysons Boulevard
Suite 1700
McLean, VA 22101
(f) U.S.
Page 19 of 31
<PAGE> 20
Schedule B
(Page 14 of 25)
IDENTITY AND BACKGROUND
(a) Nicholas J. Glakas
(b) 1600 M Street, N.W.
Washington, D.C. 20036
(c) Senior Vice President, ITT Corporation
1600 M Street, N.W.
Washington, D.C. 20036
(f) U.S.
Page 20 of 31
<PAGE> 21
Schedule B
(Page 15 of 25)
IDENTITY AND BACKGROUND
(a) Timothy D. Leuliette
(b) 3000 University Drive
Auburn Hills, MI 48321-7016
(c) Senior Vice President, ITT Corporation
President and Chief Executive Officer
ITT Automotive, Inc.
3000 University Drive
Auburn Hills, MI 48321-7016
(f) U.S.
Page 21 of 31
<PAGE> 22
Schedule B
(Page 16 of 25)
IDENTITY AND BACKGROUND
(a) Paul G. Kirk, Jr. (a Director of ITT)
(b) One Post Office Square
Boston, MA 02109
(c) Of Counsel
Sullivan & Worcester
One Post Office Square
Boston, MA 02109
(f) U.S.
Page 22 of 31
<PAGE> 23
Schedule B
(Page 17 of 25)
IDENTITY AND BACKGROUND
(a) Daniel F. Lundy
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Senior Vice President and Director, Taxes
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Page 23 of 31
<PAGE> 24
Schedule B
(Page 18 of 25)
IDENTITY AND BACKGROUND
(a) General Edward C. Meyer (Ret.) (a Director of ITT)
(b) 551 Madison Avenue
New York, NY 10022
(c) Chairman
GRC International
551 Madison Avenue
New York, NY 10022
(f) U.S.
Page 24 of 31
<PAGE> 25
Schedule B
(Page 19 of 25)
IDENTITY AND BACKGROUND
(a) Bertil T. Nilsson
(b) 445 Godwin Avenue
Midland Park, NJ 07432
(c) Senior Vice President, ITT Corporation
President and Chief Executive Officer
ITT Fluid Technology Corporation
445 Godwin Avenue
Midland Park, NJ 07432
(f) Swedish
Page 25 of 31
<PAGE> 26
Schedule B
(Page 20 of 25)
IDENTITY AND BACKGROUND
(a) Ralph W. Pausig
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Senior Vice President and Director, Human Resources
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Page 26 of 31
<PAGE> 27
Schedule B
(Page 21 of 25)
IDENTITY AND BACKGROUND
(a) Dr. Benjamin F. Payton (a Director of ITT)
(b) Tuskegee University
Kresge Center, 3rd Floor
Tuskegee, AL 36083
(c) President
Tuskegee University
Kresge Center, 3rd Floor
Tuskegee, AL 36083
(f) U.S.
Page 27 of 31
<PAGE> 28
Schedule B
(Page 22 of 25)
IDENTITY AND BACKGROUND
(a) Ann N. Reese
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Senior Vice President and Treasurer
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Page 28 of 31
<PAGE> 29
Schedule B
(Page 23 of 25)
IDENTITY AND BACKGROUND
(a) Richard S. Ward
(b) 1330 Avenue of the Americas
New York, NY 10019-5490
(c) Executive Vice President and General Counsel
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
(f) U.S.
Page 29 of 31
<PAGE> 30
Schedule B
(Page 24 of 25)
IDENTITY AND BACKGROUND
(a) Daniel P. Weadock
(b) 60 State Street
Boston, MA 02109
(c) Senior Vice President, ITT Corporation
President and Chief Executive Officer
ITT Sheraton Corporation
60 State Street
Boston, MA 02109
(f) U.S.
Page 30 of 31
<PAGE> 31
Schedule B
(Page 25 of 25)
IDENTITY AND BACKGROUND
(a) Margita E. White (a Director of ITT)
(c) 1776 Massachusetts Avenue, N.W.
Suite 310
Washington, D.C. 20036
(c) President
The Association for Maximum Service Television, Inc.
1776 Massachusetts Avenue, N.W.
Suite 310
Washington, D.C. 20036
(f) U.S.
Mrs. Margita E. White is the beneficial owner of 1,000 shares of ITT
Educational Services, Inc. common stock; all purchased prior to June
30, 1995.
Page 31 of 31
