SC 13D/A 1 schedthird.txt SCHEDULE 13D DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT August 9, 2004 1. NAME OF REPORTING PERSON Opportunity-Santa Monica Group 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ________________________________________________________________ 7. SOLE VOTING POWER See below 8. SHARED VOTING POWER See below 9. SOLE DISPOSITIVE POWER See below ________________________________________________________________ 10. SHARED DISPOSITIVE POWER See below 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 581,700 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] ________________________________________________________________ 13. PERCENT OF CLASS REPRESENTED BY ROW 11 7.16% 14. TYPE OF REPORTING PERSON IA ________________________________________________________________ 1. NAME OF REPORTING PERSON Phillip Goldstein 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ________________________________________________________________ 7. SOLE VOTING POWER 117,000 8. SHARED VOTING POWER 6,000 9. SOLE DISPOSITIVE POWER 273,100_______________________________________________________ 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 273,100 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] ________________________________________________________________ 13. PERCENT OF CLASS REPRESENTED BY ROW 11 3.36% 14. TYPE OF REPORTING PERSON IA ________________________________________________________________ 1. NAME OF REPORTING PERSON Andrew Dakos 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ________________________________________________________________ 7. SOLE VOTING POWER 26,000 8. SHARED VOTING POWER 0 9. SOLE DISPOSITIVE POWER 26,000_______________________________________________________ 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 26,000 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] ________________________________________________________________ 13. PERCENT OF CLASS REPRESENTED BY ROW 11 .32% 14. TYPE OF REPORTING PERSON IA ________________________________________________________________ 1. NAME OF REPORTING PERSON Santa Monica Partners Opportunity Fund L.P., Santa Monica Partners L.P., Santa Monica Partners Asset Management LLC, SMP Asset Management LLC and Lawrence J. Goldstein. 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [ ] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ________________________________________________________________ 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 0 9. SOLE DISPOSITIVE POWER 282,600 _________________________________________________________ 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 282,600 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] 13. PERCENT OF CLASS REPRESENTED BY ROW 11 3.48% 14. TYPE OF REPORTING PERSON IA This statement constitutes amendment No.1 to the Schedule 13D filed on June 15, 2004. Except as specifically set forth herein, the Schedule 13D remains unmodified. Item 4 is amended as follows: ITEM 4. PURPOSE OF TRANSACTION The Reporting Persons believe that the Issuer's stock price is significantly less than its intrinsic value. On July 22, 2004, they met with the Issuer's management to discuss possible measures that they believe may enhance shareholder value. Currently, the Reporting Persons have no plans to act in concert to buy, sell, hold or vote their shares, i.e., each of the Reporting Persons may unilaterally determine to buy, sell, hold or vote his shares without consulting the other Reporting Persons. Item 5 is amended as follows: ITEM 5. INTEREST IN SECURITIES OF THE ISSUER a. As per the quarterly report for the quarter ended March 31, 2004 there were 8,129,718 shares of BL outstanding. The percentage set forth in this item (5a) was derived using such number. Mr. Phillip Goldstein is deemed to be the beneficial owner of 273,100 shares of BL or 3.36% of the outstanding shares. Mr. Dakos is deemed to be the beneficial owner of 26,000 shares of BL or .32% of the outstanding shares. Mr. Lawrence J. Goldstein is deemed to be the owner of 282,600 shares of BL or 3.48% of the outstanding shares. b. Power to dispose of securities resides solely with Mr. Phillip Goldstein for 273,100 shares. Power to vote securities resides solely with Mr. Phillip Goldstein for 117,000 shares and jointly for 6,000 shares. Power to dispose and vote securities resides solely with Mr. Dakos for 26,000 shares. Power to dispose securities resides solely with Mr. Lawrence J. Goldstein for 282,600 shares. c. During the last sixty days the following shares of common stock were purchased: Phillip Goldstein Trade Date 7/16/04 5000 @ 26.25 and 3500 @ 26.2494 7/19/04 36,000 @ 26 and 5000 @ 25.995 8/9/04 5000 @ 25.4 8/10/04 2400 @ 25.49916 Andrew Dakos Trade Date 6/14/04 9500 @ 26.5 6/18/04 3300 @ 27.79 6/22/04 800 @ 27.6 6/24/04 4000 @ 28.82 7/19/04 300 @ 26 8/10/04 200 @ 25.4 8/11/04 2900 @ 26 Lawrence J. Goldstein Trade Date 6/17/04 1000 @ 27.45 6/25/04 2000 @ 25.99 7/19/04 5000 @ 29.22 7/20/04 200 @ 26.34 8/9/04 44,400 @ 25.39 Item 7 is amended as follows: ITEM 7. MATERIAL TO BE FILED AS EXHIBITS Exhibit 1: Joint Filing Agreement 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. Dated: 8/16/04 By: /s/ Phillip Goldstein Name: Phillip Goldstein By: /s/ Lawrence J. Goldstein Name: Lawrence J. Goldstein By: /S/ Andrew Dakos Name: Andrew Dakos Exhibit 1 Joint Filing Agreement In accordance with Rule 13d-1 (k) (1) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of the Schedule 13D (and all further amendments filed by them) with respect to the shares of BL. Dated: 8/16/04 By: /s/ Phillip Goldstein Name: Phillip Goldstein By: /s/ Lawrence J. Goldstein Name: Lawrence J. Goldstein By: /S/ Andrew Dakos Name: Andrew Dakos