UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 2)
Under the Securities Exchange Act of 1934
CAREER EDUCATION CORPORATION
-----------------
(Name of Issuer)
Common Stock, Par Value $0.01 Per Share
-----------------------------
(Title of Class of Securities)
141665109
---------
(CUSIP Number)
Gregory D. Hitchan
Blum Capital Partners, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 9, 2007
--------------
(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 that is the subject of this Schedule 13D, and is filing
this schedule because of Section 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 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.
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).
Page 1 of 15
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 2 of 15
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 94-3205364
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
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3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 10,296,670**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 10,296,670**
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,296,670**
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.3%**
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
------------------------------------------------------------------------------
** See Item 5
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 3 of 15
------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 94-2967812
------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
------------------------------------------------------------------------------
3. SEC USE ONLY
------------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 10,296,670**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 10,296,670**
------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,296,670**
------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.3%**
------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
------------------------------------------------------------------------------
** See Item 5
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 4 of 15
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 04-3809436
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 10,296,670**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 10,296,670**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,296,670**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.3%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 5 of 15
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1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 02-0742606
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 10,296,670**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 10,296,670**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,296,670**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.3%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 6 of 15
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC PARTNERS III, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 04-3809438
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 10,296,670**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 10,296,670**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,296,670**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.3%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 7 of 15
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1. NAME OF REPORTING PERSON SADDLEPOINT PARTNERS GP, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 83-0424234
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 10,296,670**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 10,296,670**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,296,670**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.3%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 8 of 15
Item 1. Security and Issuer
----------------------------
This Amendment No. 2 amends the Statement on Schedule 13D (the "Schedule 13D")
filed with the Securities and Exchange Commission on January 11, 2007 by Blum
Capital Partners, L.P., a California limited partnership, ("Blum LP"); Richard
C. Blum & Associates, Inc., a California corporation ("RCBA Inc."); Blum
Strategic GP III, L.L.C., a Delaware limited liability company ("Blum GP
III"); Blum Strategic GP III, L.P., a Delaware limited partnership ("Blum GP
III LP"); Blum Strategic Partners III, L.P., a Delaware limited partnership
("Blum Strategic III"); and Saddlepoint Partners GP, L.L.C., a Delaware
limited liability company ("Saddlepoint GP") (collectively, the "Reporting
Persons").
This amendment to the Schedule 13D relates to shares of common stock, $.01 par
value per share (the "Common Stock") of Career Education Corporation, a
Delaware corporation (the "Issuer"). The principal executive office and
mailing address of the Issuer is 2895 Greenspoint Parkway, Suite 600, Hoffman
Estates, Illinois 60169.
The following amendments to the Schedule 13D are hereby made. Unless otherwise
defined herein, all capitalized terms shall have the meaning ascribed to them
in the Schedule 13D.
Item 2. Identity and Background
--------------------------------
Item 2 of the Schedule 13D is hereby amended and restated in its entirety with
the following:
Blum LP is a California limited partnership whose principal business is acting
as general partner for investment partnerships and providing investment
advisory services. Blum LP is an investment advisor registered with the
Securities and Exchange Commission. The sole general partner of Blum LP is
RCBA Inc.
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 9 of 15
The principal business office address of Blum LP and RCBA Inc. is 909
Montgomery Street, Suite 400, San Francisco, California 94133. The names of
the executive officers and directors of RCBA Inc., their addresses,
citizenship and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
-------------------- ----------------------- --------- -------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
President, Suite 400 Blum LP
Chairman & Director San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. USA and Managing Partner,
Managing Partner Suite 400 Norway Blum LP
& Director San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Jane J. Su 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Nadine F. Terman 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Gregory D. Hitchan 909 Montgomery St. USA Partner, Chief
Partner, Chief Suite 400 Operating Officer,
Operating Officer, San Francisco, CA 94133 General Counsel and
General Counsel and Secretary, Blum LP
Secretary
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Partner, Chief Suite 400 Financial Officer,
Financial Officer, San Francisco, CA 94133 Blum LP
Assistant Secretary
& Director
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 10 of 15
Blum GP III is a Delaware limited liability company whose principal business
is acting as the general partner of Blum GP III LP, a Delaware limited
partnership, whose principal business is acting as the general partner of Blum
Strategic III whose principal office is 909 Montgomery Street, Suite 400, San
Francisco, California 94133.
The principal business office address of Blum GP III and Blum GP III LP is
909 Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the managing members and members of Blum GP III, their addresses,
citizenship and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
-------------------- ----------------------- --------- -------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. USA and Managing Partner,
Managing Member Suite 400 Norway Blum LP
San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Jane J. Su 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Nadine F. Terman 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory D. Hitchan 909 Montgomery St. USA Partner, Chief
Managing Member Suite 400 Operating Officer,
San Francisco, CA 94133 General Counsel and
Secretary, Blum LP
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Member Suite 400 Financial Officer,
San Francisco, CA 94133 Blum LP
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 11 of 15
Saddlepoint GP is a Delaware limited liability company whose principal
business is acting as the general partner of Saddlepoint Partners, L.P.,
a Delaware limited partnership ("Saddlepoint LP"), and Saddlepoint Partners
(Cayman), L.P., a Cayman Islands exempted limited partnership ("Saddlepoint
(Cayman) LP"). The principal business office address of Saddlepoint GP,
Saddlepoint LP and Saddlepoint (Cayman) LP is 909 Montgomery Street, Suite
400, San Francisco, California 94133. Blum LP is the managing member of
Saddlepoint GP. RCBA Inc. is the sole general partner of Blum LP. The
principal business office for Blum LP and RCBA Inc. and the names of the
executive officers and directors of RCBA Inc. and their addresses,
citizenship and principal occupations are disclosed above.
To the best knowledge of the Reporting Persons, none of the entities or
persons identified in this Item 2 has, during the past five years, been
convicted of any criminal proceeding (excluding traffic violations or similar
misdemeanors), nor been 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 Considerations
------------------------------------------------------------
There have been no changes to Item 3 since the initial Schedule 13D filed on
December 21, 2006.
Item 4. Purpose of Transaction
--------------------------------
There have been no changes to Item 4 since the initial Schedule 13D filed on
December 21, 2006.
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 12 of 15
Item 5. Interest in Securities of the Issuer
---------------------------------------------
(a), (b) According to the Issuer's Form 10-Q filed with the Securities and
Exchange Commission on August 8, 2007, there were 91,205,657 shares of Common
Stock issued and outstanding as of August 6, 2007. Based on such information,
after taking into account the transactions described in Item 5(c) below, the
Reporting Persons report beneficial ownership of the following shares of
Common Stock: (i) 2,901,174 shares of Common Stock held by Blum LP and RCBA
Inc. on behalf of the limited partnerships for which Blum LP serves as the
general partner, which represents 3.2% of the outstanding shares of the Common
Stock; (ii) 6,601,596 shares of the Common Stock held by Blum GP III which
serves as general partner of Blum GP III LP which, in turn, serves as the
general partner of Blum Strategic III, which represents 7.2% of the
outstanding shares of the Common Stock; (iii) 464,900 shares of the Common
Stock held by Saddlepoint GP on behalf of a partnership for which it serves as
the general partner, which represents 0.5% of the outstanding shares of the
Common Stock; and (iv) 164,500 shares of the Common Stock that are legally
owned by The Nuclear Decommissioning Trust of Dominion Nuclear Connecticut,
Inc. ("Dominion Connecticut"), which represents 0.2% of the outstanding shares
of the Common Stock and 164,500 shares of the Common Stock that are legally
owned by Virginia Electric and Power Company Qualified Nuclear Decommissioning
Trust ("Virginia Electric"), which represents 0.2% of the outstanding shares
of the Common Stock (collectively, the "Investment Advisory Clients"), with
respect to which Blum LP has voting and investment power. Each Investment
Advisory Client has entered into an investment management agreement with Blum
LP, but neither Investment Advisory Client has any contract, arrangement or
understanding with the other Investment Advisory Client, or any other
Reporting Person, with respect to the acquisition, ownership, disposition or
voting of any shares of the Common Stock. Each Investment Advisory Client
disclaims membership in a group with any Reporting Person or with the other
Investment Advisory Client, and each disclaims beneficial ownership of any
shares beneficially owned by the Reporting Persons other than for their own
account.
Voting and investment power concerning the above shares are held solely by
Blum LP, Blum GP III and Saddlepoint GP. The Reporting Persons therefore may
be deemed to be members in a group, in which case the group would be deemed to
have beneficial ownership of an aggregate of 10,296,670 shares of the Common
Stock, which is 11.3% of the outstanding Common Stock. As the sole general
partner of Blum LP, RCBA Inc. is deemed the beneficial owner of the securities
over which Blum LP has voting and investment power. The filing of this
Schedule shall not be construed as an admission that any of the shareholders,
directors or executive officers of RCBA Inc. or the managing members and
members of Blum GP III, Blum GP III LP and Saddlepoint GP, is, for any
purpose, the beneficial owner of any of the securities that are beneficially
owned by RCBA Inc., Blum GP III LP, Blum GP III or Saddlepoint GP.
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 13 of 15
c) Since the most recent filing of Schedule 13D, the Reporting Persons
purchased the following shares Common Stock in the open market:
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
Investment partnerships for 08-09-2007 61,500 26.9780
which Blum LP serves as the 08-09-2007 61,500 27.2175
general partner. 08-09-2007 339,400 27.5780
08-10-2007 14,800 25.9705
08-10-2007 12,700 25.9745
08-10-2007 44,700 26.0698
08-10-2007 149,400 26.0785
08-10-2007 44,700 26.0856
08-10-2007 29,800 26.3841
08-10-2007 29,800 26.3893
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
For Blum Strategic III for 08-09-2007 127,600 26.9780
which Blum GP III LP 08-09-2007 127,600 27.2175
serves as the general partner 08-09-2007 700,600 27.5780
and for Blum GP III which 08-10-2007 27,600 25.9705
serves as the general 08-10-2007 23,100 25.9745
partner for Blum GP III LP. 08-10-2007 82,400 26.0698
08-10-2007 274,400 26.0785
08-10-2007 82,400 26.0856
08-10-2007 54,900 26.3841
08-10-2007 54,900 26.3893
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
The partnership for which 08-09-2007 5,100 26.9780
Saddlepoint GP serves as 08-09-2007 5,100 27.2175
general partner. 08-09-2007 28,200 27.5780
08-10-2007 3,800 25.9705
08-10-2007 3,200 25.9745
08-10-2007 11,300 26.0698
08-10-2007 37,400 26.0785
08-10-2007 11,300 26.0856
08-10-2007 7,500 26.3841
08-10-2007 7,500 26.3893
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 14 of 15
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
The Investment Advisory 08-09-2007 5,800 26.9780
Clients for which Blum LP 08-09-2007 5,800 27.2175
serves as investment advisor. 08-09-2007 31,800 27.5780
08-10-2007 3,800 25.9705
08-10-2007 3,200 25.9745
08-10-2007 11,600 26.0698
08-10-2007 38,800 26.0785
08-10-2007 11,600 26.0856
08-10-2007 7,800 26.3841
08-10-2007 7,800 26.3893
The Reporting Persons sold the following shares of Common Stock in the open
market in order to satisfy a partial liquidity request by a limited partner
in one the limited partnerships for which Blum LP serves as general partner:
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
Investment partnerships for 07-09-2007 32,000 33.8453
which Blum LP serves as the 07-12-2007 85,000 33.6074
general partner. 07-17-2007 85,730 33.0299
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
-----------------------------------------------------------------------------
There have been no changes to Item 6 since the initial Schedule 13D filed on
December 21, 2006.
Item 7. Material to be Filed as Exhibits
------------------------------------------
Exhibit A - Joint Filing Undertaking
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 15 of 15
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: August 13, 2007
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP III, L.L.C. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.L.C.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Managing Member
BLUM STRATEGIC PARTNERS III, L.P. SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Strategic GP III, L.P. By: Blum Capital Partners, L.P.
Its General Partner Its Managing Member
By: Blum Strategic GP III, L.L.C. By: Richard C. Blum & Associates, Inc.
Its General Partner Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan, Gregory D. Hitchan,
Managing Member and General Counsel Partner, Chief Operating Officer,
General Counsel and Secretary
**********
CUSIP NO. 141665109 SCHEDULE 13D Page 1 of 1
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: August 13, 2007
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP III, L.L.C. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.L.C.
Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Managing Member
BLUM STRATEGIC PARTNERS III, L.P. SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Strategic GP III, L.P. By: Blum Capital Partners, L.P.
Its General Partner Its Managing Member
By: Blum Strategic GP III, L.L.C. By: Richard C. Blum & Associates, Inc.
Its General Partner Its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan, Gregory D. Hitchan,
Managing Member and General Counsel Partner, Chief Operating Officer,
General Counsel and Secretary