SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------------
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13D-1(B)
AND AMENDMENTS THERETO FILED
PURSUANT TO 13D-2(b)
(Amendment No. 2)(1)
Pittston Company
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
725701106
--------------------------------------------------------------------------------
(CUSIP Number)
December 31, 2001
--------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
---------------------
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
|x| Rule 13d-1 (b)
|_| Rule 13d-1 (c)
|_| Rule 13d-1 (d)
(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 the 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 liabilites of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
------------------- -----------------
CUSIP NO. 725701106 13G Page 2 of 5 Pages
------------------- -----------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David J. Greene and Company, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
271,850
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,286,376
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 271,850
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
4,486,309
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,758,159
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.77%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
Broker-dealer/Investment Adviser/Other (BD/IA/OO)
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
------------------- -----------------
CUSIP NO. 725701106 13G Page 3 of 5 Pages
------------------- -----------------
David J. Greene and Company, LLC
The filing of this statement shall not be construed as an admission
that David J. Greene and Company, LLC is the beneficial owner of the
securities covered by such statement.
--------------------------------------------------------------------------
Item 1(a). Name of Issuer:
Pittston Company
--------------------------------------------------------------------------
Item 1(b). Address of Issuer's Principal Executive Offices:
1801 Bayberry Court, Richmond, VA 23226
--------------------------------------------------------------------------
Item 2(a). Name of Person Filing:
David J. Greene and Company, LLC
--------------------------------------------------------------------------
Item 2(b). Address of Principal Business Office, or, if None, Residence:
599 Lexington Avenue, New York, NY 10022
--------------------------------------------------------------------------
Item 2(c). Citizenship:
New York
--------------------------------------------------------------------------
Item 2(d). Title of Class of Securities:
Common Stock
--------------------------------------------------------------------------
Item 2(e). CUSIP NUMBER:
725701106
--------------------------------------------------------------------------
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person Filing is a:
(a) |X| Broker or dealer registered under Section 15 of the Act.
(b) |_| Bank as defined in Section 3(a)(6) of the Act.
(c) |_| Insurance Company as defined in Section 3(a)(19) of the Act.
(d) |_| Investment Company registered under Section 8 of the Investment
Company Act.
(e) |X| Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940.
(f) |_| Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974 or
Endowment Fund; see 13d-1(b)(1)(ii)(F).
(g) |_| Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G); see
Item 7.
(h) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
------------------- -----------------
CUSIP NO. 725701106 13G Page 4 of 5 Pages
------------------- -----------------
David J. Greene and Company, LLC
Item 4. Ownership.
If the percent of the class owned, as of December 31 of the year covered
by the statement, or as of the last day of any month described in Rule
13d-1(b)(2), if applicable, exceeds five percent, provide the following
information as of that date and identify those shares which there is a right to
acquire.
(a) Amount beneficially owned:
4,758,159
--------------------------------------------------------------------
(b) Percent of class:
8.77%
--------------------------------------------------------------------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 271,850
---------------------
(ii) Shared power to vote or to direct the vote 2,286,376
-------------------
(iii) Sole power to dispose or to direct the disposition of 271,850
--------
(iv) Shared power to dispose or to direct the
disposition of 4,486,309
-----------------------------------------------
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the Beneficial owner of more than
five percent of the class of securities, check the following |_|.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
------------------- -----------------
CUSIP NO. 725701106 13G Page 5 of 5 Pages
------------------- -----------------
David J. Greene and Company, LLC
Item 10. Certification.
By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer of
such securities and were not acquired in connection with or as a
participant in any transaction having such purpose or effect.
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 and correct.
February 14, 2002
-------------------------------------------------
(Date)
/s/ E. Stephen Walsh
-------------------------------------------------
(Signature)
E. Stephen Walsh
Principal and Chief
Administrative Officer
-------------------------------------------------
(Name/Title)