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