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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CBSNFAqilONz8LaLrNofFmIW+hM+4T3H1Gwfzo3uE9M3Xffm6oP+8GgpkruCNuUY
 8RRBDuNWdto0MJhzmRZZeA==

<SEC-DOCUMENT>0000919574-08-005032.txt : 20080905
<SEC-HEADER>0000919574-08-005032.hdr.sgml : 20080905
<ACCEPTANCE-DATETIME>20080905174932
ACCESSION NUMBER:		0000919574-08-005032
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080904
FILED AS OF DATE:		20080905
DATE AS OF CHANGE:		20080905

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HANDLEMAN CO /MI/
		CENTRAL INDEX KEY:			0000314727
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-DURABLE GOODS, NEC [5099]
		IRS NUMBER:				381242806
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		500 KIRTS BLVD
		STREET 2:		PO BOX 7045
		CITY:			TROY
		STATE:			MI
		ZIP:			48084-4142
		BUSINESS PHONE:		2483624400

	MAIL ADDRESS:	
		STREET 1:		500 KIRTS BLVD
		STREET 2:		P O BOX 7045
		CITY:			TROY
		STATE:			MI
		ZIP:			48084-4142

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SALVATORE MUOIO
		CENTRAL INDEX KEY:			0001259267

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07923
		FILM NUMBER:		081059516

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		212-297-2555

	MAIL ADDRESS:	
		STREET 1:		C/O S. MUOIO & CO. LLC
		STREET 2:		509 MADISON AVENUE SUITE 406
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			S. MUOIO & CO. LLC
		CENTRAL INDEX KEY:			0001138996

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07923
		FILM NUMBER:		081059517

	BUSINESS ADDRESS:	
		STREET 1:		509 MADISON AVE SUITE 406
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-297-2555

	MAIL ADDRESS:	
		STREET 1:		509 MADISON AVENUE
		STREET 2:		SUITE 406
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER NAME:	
		FORMER CONFORMED NAME:	S MUOIO & CO LLC
		DATE OF NAME CHANGE:	20010420
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>p916400_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-09-04</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000314727</issuerCik>
        <issuerName>HANDLEMAN CO /MI/</issuerName>
        <issuerTradingSymbol>HDLM.PK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001138996</rptOwnerCik>
            <rptOwnerName>S. MUOIO &amp; CO. LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>509 MADISON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 406</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001259267</rptOwnerCik>
            <rptOwnerName>SALVATORE MUOIO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O S. MUOIO &amp; CO. LLC</rptOwnerStreet1>
            <rptOwnerStreet2>509 MADISON AVENUE SUITE 406</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-09-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>53100</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.08</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3059484</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">These securities are held in the accounts of several investment partnerships and investment funds (collectively, the
 &quot;Investment Vehicles&quot;) for which S. Muoio &amp; Co. LLC (&quot;SMC&quot;) serves as either general partner or investment manager.
 Salvatore Muoio is the managing member of SMC.  SMC and Mr. Muoio may be deemed to beneficially own the securities held by
 the Investment Vehicles by virtue of SMC's position as general partner or investment manager of the Investment Vehicles and
 Mr. Muoio's status as the managing member of SMC.</footnote>
    </footnotes>

    <remarks>(+) Each of the Reporting Person and the joint filer (individually, each a &quot;Reporting Person&quot; and collectively, the
 &quot;Reporting Persons&quot;) disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary
 interest therein.  The Reporting Persons affirmatively disclaim being a &quot;group&quot; for purposes of Section 16 of the Securities
 Exchange Act of 1934, as amended.</remarks>

    <ownerSignature>
        <signatureName>S. Muoio &amp; Co. LLC, By: /s/ Salvatore Muoio (+)</signatureName>
        <signatureDate>2008-09-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Salvatore Muoio (+)</signatureName>
        <signatureDate>2008-09-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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