0001005477-01-501136.txt : 20011009 0001005477-01-501136.hdr.sgml : 20011009 ACCESSION NUMBER: 0001005477-01-501136 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010925 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SALTON INC CENTRAL INDEX KEY: 0000878280 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC HOUSEWARES & FANS [3634] IRS NUMBER: 363777824 STATE OF INCORPORATION: DE FISCAL YEAR END: 0626 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-42085 FILM NUMBER: 1743882 BUSINESS ADDRESS: STREET 1: 550 BUSINESS CENTER DR STREET 2: C/O KENSINGTON CENTER CITY: MOUNT PROSPECT STATE: IL ZIP: 60056 BUSINESS PHONE: 7088034600 MAIL ADDRESS: STREET 1: 550 BUSINESS CENTER DRIVE CITY: MT PROSPECT STATE: IL ZIP: 60056 FORMER COMPANY: FORMER CONFORMED NAME: SALTON MAXIM HOUSEWARES INC DATE OF NAME CHANGE: 19930328 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JC INVESTMENTS LP CENTRAL INDEX KEY: 0001129472 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 621835334 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 137 BRUCE ST STREET 2: STE 1 CITY: SEVIERVILLE STATE: TN ZIP: 37862 BUSINESS PHONE: 8654291000 MAIL ADDRESS: STREET 1: 137 BRUCE ST STREET 2: STE 1 CITY: SEVIERVILLE STATE: TN ZIP: 37862 SC 13D/A 1 b01-34669.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------ SCHEDULE 13D INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 1)(1) Salton, Inc. -------------------------------------------------------------------------------- (Name of Issuer) common -------------------------------------------------------------------------------- (Title of Class of Securities) 795757103 -------------------------------------------------------------------------------- (CUSIP Number) William Koplovitz, 145 Central Park West, 24C, NYC NY 10023, (212) 874-0466 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 17, 2001 -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of This Statement) (Continued on following pages) (Page 1 of _ Pages) ---------- (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 disclosures provided in a prior cover page. 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 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. SCHEDULE 13D Page _ of __ Pages -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) J. C. Investments, L.P. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |x| (b) |_| -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Tennessee -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 common/0 calls -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 254,603 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 common/0 calls WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 254,603 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) .022% common shares/0% calls -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN (Limited) -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Item 1. Security and Issuer Class of Equity Securities: common stock Name of Issuer: Salton, Inc. (SFP, NYSE) Principal Executive Office: 550 Business Center Drive Mount Prospect, IL 60056 Item 2. Identity and Background Name of Entity: J C Investments, L.P. State of Organization: Tennessee Principal Business: Owning, selling and Managing equity investments in various publicly traded companies Principal Office Address: 137 Bruce Street, Suite 1, Sevierville, TN 37862 (d) no (e) no Name of General Partner of Entity: Jenco Capital Corporation State of Organization: Tennessee Principal Business: Investments Principal Office Address: 137 Bruce Street, Suite 1, Sevierville, TN 37862 (d) (e) Item 3. Source and Amount of Funds or Other Consideration Source and Amount of Funds used in making the purchases: n/a -- shares sold Personal Funds of the Entity: $0 Affiliate Funds: $0 Item 4. Purpose of Transaction As is required by [Section] 240.13d-2 of Regulation 13D, an amended Schedule 13d must be filed when any "material increase or decrease in the percentage of the class beneficially owned" occurs. On December 6, 2000, our group filed a Schedule 13D form announcing we beneficially owned more than five percent (5%) of the outstanding stock of Salton, Inc. As of September 17, 2001, this figure has decreased to two and twenty one hundredths percent (2.2%) of the total outstanding shares of stock of Salton, Inc. Item 5. Interest in Securities of the Issuer (a) Aggregate Number and Percentage of Class of Securities: (1) JC Investments, L.P. -------------------------------------------------------------------------------- Aggregate Number: 0 common shares Percentage of Class: 0% common shares 2) Jenco Capital Corporation (General Partner of J C Investments, L.P.) -------------------------------------------------------------------------------- Aggregate Number: 0 common shares Percentage of Class: 0% common shares 3) William and Kay Koplovitz -------------------------------------------------------------------------------- Aggregate Number: 186,153 common shares Percentage of Class: .016% common shares 4) Stephen T. Frost Living Trust -------------------------------------------------------------------------------- Aggregate Number: 27,200 common shares Percentage of Class: .0024% common shares 5) Suzanne L. Frost Living Trust -------------------------------------------------------------------------------- Aggregate Number: 24,750 common shares Percentage of Class: .0021 common shares 6) Laurie S. Frost -------------------------------------------------------------------------------- Aggregate Number: 6,500 common shares Percentage of Class: .0006 common shares 7) Julie Frost Stangl -------------------------------------------------------------------------------- Aggregate Number: 10,000 common shares Percentage of Class: .0009% common shares 8) David A. Schutz -------------------------------------------------------------------------------- Aggregate Number: 0 common shares Percentage of Class: 0 common shares (b) Number of Shares with Sole or Shared Power to Vote/Direct Vote, Number of Shares with Sole or Shared Power to Dispose/Direct Disposition 1) J C Investments, L.P. -------------------------------------------------------------------------------- Number of Shares with Sole Power to Vote/Direct Vote: 0 Number of Shares with Shared Power to Vote/Direct Vote: 0 Number of Shares with Sole Power to Dispose/Direct Disposition: 0 Number of Shares with Shared Power to Dispose/Direct Disposition:0 2) Jenco Capital Corporation (General Partner of J C Investments, L.P.0 -------------------------------------------------------------------------------- Number of Shares with Sole Power to Vote/Direct Vote: 0 Number of Shares with Shared Power to Vote/Direct Vote: 0 Number of Shares with Sole Power to Dispose/Direct Disposition: 0 Number of Shares with Shared Power to Dispose/Direct Disposition:0 3) William and Kay Koplovitz -------------------------------------------------------------------------------- Number of Shares with Sole Power to Vote/Direct Vote: 186,153 Number of Shares with Shared Power to Vote/Direct Vote: 0 Number of Shares with Sole Power to Dispose/Direct Disposition: 186,153 Number of Shares with Shared Power to Dispose/Direct Disposition:0 4) Stephen T. Frost Living Trust -------------------------------------------------------------------------------- Number of Shares with Sole Power to Vote/Direct Vote: 27,200 Number of Shares with Shared Power to Vote/Direct Vote: 0 Number of Shares with Sole Power to Dispose/Direct Disposition: 27,000 Number of Shares with Shared Power to Dispose/Direct Disposition:0 5) Suzanne L. Frost Living Trust -------------------------------------------------------------------------------- Number of Shares with Sole Power to Vote/Direct Vote: 24,750 Number of Shares with Shared Power to Vote/Direct Vote: 0 Number of Shares with Sole Power to Dispose/Direct Disposition: 24,750 Number of Shares with Shared Power to Dispose/Direct Disposition:0 6) Laurie Frost -------------------------------------------------------------------------------- Number of Shares with Sole Power to Vote/Direct Vote: 6,500 Number of Shares with Shared Power to Vote/Direct Vote: 0 Number of Shares with Sole Power to Dispose/Direct Disposition: 6,500 Number of Shares with Shared Power to Dispose/Direct Disposition:0 7) Julie Frost Stangl -------------------------------------------------------------------------------- Number of Shares with Sole Power to Vote/Direct Vote: 10,000 Number of Shares with Shared Power to Vote/Direct Vote: 0 Number of Shares with Sole Power to Dispose/Direct Disposition: 10,000 Number of Shares with Shared Power to Dispose/Direct Disposition:0 8) David A. Schultz -------------------------------------------------------------------------------- Number of Shares with Sole Power to Vote/Direct Vote: 0 Number of Shares with Shared Power to Vote/Direct Vote: 0 Number of Shares with Sole Power to Dispose/Direct Disposition: 0 Number of Shares with Shared Power to Dispose/Direct Disposition:0 Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Jenco Capital Corporation, a Tennessee corporation, is the general partner of J C Investments, L.P., a Tennessee limited partnership. The limited partners include William Koplovitz and Stephen Frost. Jenco Capital Corporation, as the general partner of J C Investments, L.P., as provided in the Limited Partnership Agreement, has the power to transfer and vote the securities held in Salton, Inc. Under the Limited Partnership Agreement of J C Investments, L.P., each limited partner owns 49.5% of the profits and equally shares in 49.5% of the losses. The general partner owns 1% of the profits, and shares in 1% of the losses. Stephen T. Frost, as Trustee of the Suzanne L. Frost Living Trust, on behalf of the Suzanne L. Frost Living Trust, has the power to transfer and vote the securities held in Salton, Inc. Stephen Frost, as Trustee of the Stephen T. Frost Living Trust, on behalf of the Stephen T. Frost Living Trust, has the power to transfer and vote the securities held in Salton, Inc. Stephen T. Frost, as the custodian of Laurie S. Frost, has the power to transfer and vote the securities held in Salton, Inc. on behalf of Laurie S. Frost. William and Kay Koplovitz, individually and jointly, the Stephen T. Frost Living Trust, the Suzanne L. Frost Living Trust, Laurie S. Frost, Julie Frost Stangl, and David A. Schutz have joined J C Investments, L.P. as affiliates thereof in order to explore the alternatives listed in Item 4 in our original Schedule 13-D statement. Each party hereto shall share in the profits and losses according to the pro rata share of funds/securities contributed to the cause. Item 7. Material to Be Filed as Exhibits. See attached Exhibit A which is specifically incorporated herein by this reference. 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: September 24, 2001 J C Investments, L.P. By Jenco Capital Corporation, General Partner By: /s/ Jon E. Nix -------------------------------------------------- Jon E. Nix, President EXHIBIT A Includes Averages of Sales of Stock Over the Last Thirty (30 Days (1) J. C. Investments, L.P. -------------------------------------------------------------------------------- All selling accomplished through broker execution by Harmonic Research. 20,000 common shares sold over the last 30 days between $10.15 and $18.00. (2) William and Kay Koplovitz: -------------------------------------------------------------------------------- Sold 333,600 common shares over last 30 days at a price between $9.85 and $18.50 through broker execution. (3) Laurie Frost -------------------------------------------------------------------------------- September 10, 2001: Sold 3,750 common shares [at] $16.41 average through broker execution by Fidelity Brokerage.