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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. __)*


                            Saga Communications, Inc.
--------------------------------------------------------------------------------
                                (Name of Issuer)


                 Class A Common Stock, par value $0.01 per share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                    786598102
--------------------------------------------------------------------------------
                                 (CUSIP Number)


                                  June 26, 2006
--------------------------------------------------------------------------------
             (Date of Event which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

|_|      Rule 13d-1(b)
|X|      Rule 13d-1(c)
|_|      Rule 13d-1(d)

* 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 in 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).


                         (Continued on following pages)
                               Page 1 of 36 Pages
                         Exhibit Index Found on Page 34






                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Noonday Asset Management, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================




                               Page 2 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Noonday G.P.  (U.S.), L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            OO
------------====================================================================




                               Page 3 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Noonday Capital, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
             OO
------------====================================================================




                               Page 4 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            David I. Cohen
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 5 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Saurabh K. Mittal
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            India
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 6 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Noonday Capital Partners, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  15,000
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                15,000
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            15,000
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.1%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            OO
------------====================================================================




                               Page 7 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Partners, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            California
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  187,000
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                187,000
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            187,000
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            1.0%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================




                               Page 8 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Institutional Partners, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            California
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  136,700
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                136,700
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            136,700
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.8%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================




                               Page 9 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Institutional Partners II, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            California
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  18,200
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                18,200
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            18,200
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.1%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================




                               Page 10 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Institutional Partners III, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  13,000
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                13,000
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            13,000
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.1%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================




                               Page 11 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Tinicum Partners, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            New York
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  5,300
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                5,300
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            5,300
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.0%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================




                               Page 12 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Offshore Investors II, L.P.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page,  however,  is a beneficial  owner only of
                           the securities reported by it on this cover page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Cayman Islands
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  166,400
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                166,400
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            166,400
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            0.9%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            PN
------------====================================================================




                               Page 13 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Capital Management, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  416,900
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                416,900
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            416,900
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            2.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IA, OO
------------====================================================================




                               Page 14 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Farallon Partners, L.L.C.
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            Delaware
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  541,600
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                541,600
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            541,600
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            3.0%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            OO
------------====================================================================




                               Page 15 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Chun R. Ding
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 16 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            William F. Duhamel
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 17 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Richard B. Fried
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 18 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Monica R. Landry
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 19 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            William F. Mellin
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 20 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Stephen L. Millham
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 21 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Jason E. Moment
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 22 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Rajiv A. Patel
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 23 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Derek C. Schrier
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 24 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Thomas F. Steyer
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 25 of 36 Pages







                                       13G
===================
CUSIP No. 786598102
===================

------------====================================================================
            NAMES OF REPORTING PERSONS
    1       I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

            Mark C. Wehrly
------------====================================================================
            CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
                                                              (a) [   ]
                                                              (b) [ X ]**
    2
                  **       The  reporting  persons  making  this  filing hold an
                           aggregate of 958,500 Class A Shares, which is 5.3% of
                           the class of securities. The reporting person on this
                           cover page, however, may be deemed a beneficial owner
                           only of the  securities  reported by it on this cover
                           page.
------------====================================================================
    3       SEC USE ONLY

------------====================================================================
            CITIZENSHIP OR PLACE OF ORGANIZATION
    4
            United States
------------====================================================================
                                SOLE VOTING POWER
      NUMBER OF         5
                                -0-
                    ------------================================================
       SHARES                   SHARED VOTING POWER
    BENEFICIALLY        6
      OWNED BY                  958,500
                    ------------================================================
                                SOLE DISPOSITIVE POWER
        EACH            7
                                -0-
                    ------------================================================
      REPORTING                 SHARED DISPOSITIVE POWER
     PERSON WITH        8
                                958,500
------------====================================================================
            AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    9
            958,500
------------====================================================================
            CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    10      CERTAIN SHARES (See Instructions)                     [   ]

------------====================================================================
            PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
    11
            5.3%
------------====================================================================
            TYPE OF REPORTING PERSON (See Instructions)
    12
            IN
------------====================================================================




                               Page 26 of 36 Pages








Item 1.  Issuer
         ------

         (a) Name of Issuer:
             --------------

             Saga Communications, Inc. (the "Company")

         (b) Address of Issuer's Principal Executive Offices:
             -----------------------------------------------

             73 Kercheval Avenue, Grosse Pointe Farms, Michigan 48236

Item 2.  Identity And Background
         -----------------------

         Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))
         ----------------------------------------------------------------

         This  statement  relates to shares of Class A Common  Stock,  par value
$0.01 per share (the "Class A Shares"),  of the Company. The CUSIP number of the
Class A Shares is 786598102.

         Name Of  Persons  Filing,  Address  Of  Principal  Business  Office And
         -----------------------------------------------------------------------
         Citizenship (Item 2(a), (b) and (c))
         ------------------------------------

         This statement is filed by the entities and persons  listed below,  all
of whom together are referred to herein as the "Reporting Persons."

         The Noonday Sub-adviser Entities
         --------------------------------

                  (i)      Noonday  G.P.  (U.S.),  L.L.C.,  a  Delaware  limited
                           liability   company   which   is   a   sub-investment
                           adviser(1)  to each  of the  Funds  and  the  Managed
                           Accounts  (the  "First  Noonday  Sub-adviser"),  with
                           respect  to all of the  Class  A  Shares  held by the
                           Funds and the Managed Accounts;

                  (ii)     Noonday Asset  Management,  L.P., a Delaware  limited
                           partnership  which is a sub-investment  adviser(1) to
                           each of the  Funds  and  the  Managed  Accounts  (the
                           "Second Noonday Sub-adviser"), with respect to all of
                           the Class A Shares  held by the Funds and the Managed
                           Accounts; and

                  (iii)    Noonday Capital, L.L.C., a Delaware limited liability
                           company  which is the  general  partner of the Second
                           Noonday  Sub-adviser (the "Noonday General Partner"),
                           with respect to all of the Class A Shares held by the
                           Funds and the Managed Accounts.




--------
(1) The First Noonday Sub-adviser and the Second Noonday Sub-adviser entered
into certain subadvisory arrangements with the Management Company and the
Farallon General Partner effective as of January 1, 2005, pursuant to which the
First Noonday Sub-adviser and the Second Noonday Sub-adviser were granted
investment discretion over all of the assets of the Noonday Fund and certain of
the assets of the Farallon Funds and the Managed Accounts.




                              Page 27 of 36 Pages






         The First Noonday  Sub-adviser,  the Second Noonday Sub-adviser and the
Noonday  General  Partner  are  together  referred  to  herein  as the  "Noonday
Sub-adviser Entities."

         The Noonday Managing Members
         ----------------------------

                  (iv)     David  I.  Cohen  ("Cohen")  and  Saurabh  K.  Mittal
                           ("Mittal"),  the  managing  members of both the First
                           Noonday  Sub-adviser and the Noonday General Partner,
                           with respect to all of the Class A Shares held by the
                           Funds and the Managed Accounts.

         Cohen and  Mittal are  referred  to herein as the  "Noonday  Individual
Reporting Persons."

         The Noonday Fund
         ----------------

                  (v)      Noonday Capital Partners,  L.L.C., a Delaware limited
                           liability company (the "Noonday Fund"),  with respect
                           to the Class A Shares held by it.

         The Farallon Funds
         ------------------

                  (vi)     Farallon Capital Partners, L.P., a California limited
                           partnership  ("FCP"),  with  respect  to the  Class A
                           Shares held by it;

                  (vii)    Farallon  Capital  Institutional  Partners,  L.P.,  a
                           California limited partnership ("FCIP"), with respect
                           to the Class A Shares held by it;

                  (viii)   Farallon Capital  Institutional  Partners II, L.P., a
                           California  limited  partnership  ("FCIP  II"),  with
                           respect to the Class A Shares held by it;

                  (ix)     Farallon Capital Institutional  Partners III, L.P., a
                           Delaware  limited   partnership  ("FCIP  III"),  with
                           respect to the Class A Shares held by it;

                  (x)      Tinicum   Partners,   L.P.,   a  New   York   limited
                           partnership ("Tinicum"),  with respect to the Class A
                           Shares held by it; and

                  (xi)     Farallon  Capital  Offshore  Investors  II,  L.P.,  a
                           Cayman Islands  exempted limited  partnership  ("FCOI
                           II"), with respect to the Class A Shares held by it.

         FCP, FCIP, FCIP II, FCIP III, Tinicum and FCOI II are together referred
to herein as the "Farallon  Funds." The Noonday Fund and the Farallon  Funds are
together referred to herein as the "Funds."

         The Management Company
         ----------------------

                  (xii)    Farallon  Capital  Management,   L.L.C.,  a  Delaware
                           limited liability company (the "Management Company"),
                           with respect to the Class A Shares held by




                              Page 28 of 36 Pages







                           certain  accounts  managed by the Management  Company
                           (the "Managed Accounts").

         The Farallon General Partner
         ----------------------------

                  (xiii)   Farallon   Partners,   L.L.C.,   a  Delaware  limited
                           liability  company  which is the  general  partner of
                           each of the Farallon Funds and the managing member of
                           the Noonday Fund (the  "Farallon  General  Partner"),
                           with  respect  to the Class A Shares  held by each of
                           the Funds.

         The Farallon Managing Members
         -----------------------------

                  (xiv)    The  following  persons who are  managing  members of
                           both the Farallon  General Partner and the Management
                           Company,  with  respect to the Class A Shares held by
                           the  Funds  and the  Managed  Accounts:  Chun R. Ding
                           ("Ding"), William F. Duhamel ("Duhamel"),  Richard B.
                           Fried ("Fried"), Monica R. Landry ("Landry"), William
                           F. Mellin ("Mellin"), Stephen L. Millham ("Millham"),
                           Jason E. Moment ("Moment"), Rajiv A. Patel ("Patel"),
                           Derek  C.  Schrier  ("Schrier"),   Thomas  F.  Steyer
                           ("Steyer"), and Mark C. Wehrly ("Wehrly").

         Ding, Duhamel, Fried, Landry, Mellin, Millham,  Moment, Patel, Schrier,
Steyer,  and Wehrly are together referred to herein as the "Farallon  Individual
Reporting  Persons." The Farallon  Individual  Reporting Persons and the Noonday
Individual  Reporting Persons are together referred to herein as the "Individual
Reporting Persons."

         The citizenship of each of the Noonday Sub-adviser Entities, the Funds,
the Management Company and the Farallon General Partner is set forth above. Each
of the Individual Reporting Persons other than Mittal is a citizen of the United
States.  Mittal is a citizen of India.  The  address of the  principal  business
office of each of the Noonday  Sub-adviser  Entities and the Noonday  Individual
Reporting Persons is c/o Noonday Asset Management,  L.P., 227 West Trade Street,
Suite 2140,  Charlotte,  North  Carolina  28202.  The  address of the  principal
business  office  of  each of the  Reporting  Persons  other  than  the  Noonday
Sub-adviser  Entities  and  the  Noonday  Individual  Reporting  Persons  is c/o
Farallon  Capital  Management,  L.L.C.,  One  Maritime  Plaza,  Suite 1325,  San
Francisco, California 94111.

Item 3.  If  This  Statement  Is  Filed  Pursuant  To  Sections  240.13d-1(b) or
         -----------------------------------------------------------------------
240.13d-2(b)  or (c), Check Whether The Person Filing Is An Entity  Specified In
--------------------------------------------------------------------------------
(a) - (j):
---------

         Not Applicable.

         If This Statement Is Filed Pursuant To Section 240.13d-1(c), Check This
         -----------------------------------------------------------------------
         Box. [X]
         ----








                              Page 29 of 36 Pages






Item 4.  Ownership
         ---------

         The  information  required  by Items 4(a) - (c) and set forth in Rows 5
through 11 of the cover page for each  Reporting  Person hereto is  incorporated
herein by reference for each such Reporting Person.

         The Class A Shares  reported hereby for the Funds are owned directly by
the Funds and those reported by the Management  Company on behalf of the Managed
Accounts  are  owned  directly  by  the  Managed  Accounts.  The  First  Noonday
Sub-adviser and the Second Noonday  Sub-adviser,  as sub-investment  advisers to
the Funds and Managed Accounts,  may be deemed to be the beneficial owner of all
such Class A Shares  owned by the Funds and the  Managed  Accounts.  The Noonday
General Partner,  as general partner to the Second Noonday  Sub-adviser,  may be
deemed to be the beneficial  owner of all such Class A Shares owned by the Funds
and the Managed Accounts.  The Noonday Individual Reporting Persons, as managing
members of both the First Noonday  Sub-adviser and the Noonday General  Partner,
may each be deemed to be the  beneficial  owner of all such Class A Shares owned
by the Funds and the Managed  Accounts.  The Management  Company,  as investment
adviser to the Managed Accounts, may be deemed to be the beneficial owner of all
such Class A Shares owned by the Managed Accounts. The Farallon General Partner,
as general  partner to the  Farallon  Funds and  managing  member of the Noonday
Fund, may be deemed to be the beneficial  owner of all such Class A Shares owned
by the Funds. The Farallon Individual  Reporting Persons, as managing members of
both the Farallon  General Partner and the Management  Company with the power to
exercise investment discretion, may each be deemed to be the beneficial owner of
all such Class A Shares owned by the Funds and the Managed Accounts. Each of the
Noonday  Sub-adviser  Entities,  the Management  Company,  the Farallon  General
Partner and the Individual  Reporting  Persons  hereby  disclaims any beneficial
ownership of any such Class A Shares.

Item 5.  Ownership Of Five Percent Or Less Of A Class
         --------------------------------------------

         Not Applicable.

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 Being Reported On By The Parent Holding Company
         ------------------------------------------------------------

         Not Applicable.

Item 8.  Identification And Classification Of Members Of The Group
         ---------------------------------------------------------

         The Reporting  Persons are filing this Schedule 13G pursuant to Section
240.13d-1(c). Consistent with Item 2 of the cover page for each Reporting Person
above,  the  Reporting  Persons  neither  disclaim nor affirm the existence of a
group among them.










                              Page 30 of 36 Pages






Item 9.  Notice Of Dissolution Of Group
         ------------------------------

         Not Applicable.

Item 10. Certification
         -------------

         By  signing  below I  certify  that,  to the best of my  knowledge  and
belief, the securities  referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing  the control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as a participant in any transaction having that purpose or effect.




















                              Page 31 of 36 Pages







                                   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:  July 5, 2006


                /s/ Monica R. Landry
                ----------------------------------------
                NOONDAY CAPITAL, L.L.C.,
                On its own behalf and as the General Partner of
                NOONDAY ASSET MANAGEMENT, L.P.
                By Monica R. Landry, Attorney-in-fact


                /s/ Monica R. Landry
                ----------------------------------------
                NOONDAY G.P. (U.S.), L.L.C.
                By Monica R. Landry, Attorney-in-fact


                /s/ Monica R. Landry
                ---------------------------------------
                FARALLON PARTNERS, L.L.C.,
                On its own behalf,
                as the General Partner of
                FARALLON CAPITAL PARTNERS, L.P.,
                FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
                FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
                FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
                TINICUM PARTNERS, L.P. and
                FARALLON CAPITAL OFFSHORE INVESTORS II, L.P.
                and as the Managing Member of
                NOONDAY CAPITAL PARTNERS, L.L.C.
                By Monica R. Landry, Managing Member


                /s/ Monica R. Landry
                ----------------------------------------
                FARALLON CAPITAL MANAGEMENT, L.L.C.
                By Monica R. Landry, Managing Member


                /s/ Monica R. Landry
                ----------------------------------------
                Monica R. Landry, individually and as attorney-in-fact for
                each of David I. Cohen, Chun R. Ding, William F. Duhamel,
                Richard B. Fried, William F. Mellin, Stephen L. Millham,
                Saurabh K. Mittal, Jason E. Moment, Rajiv A. Patel,
                Derek C. Schrier, Thomas F. Steyer and Mark C. Wehrly







                              Page 32 of 36 Pages









         The Powers of Attorney  executed by Duhamel,  Fried,  Mellin,  Millham,
Steyer and Wehrly  authorizing Landry to sign and file this Schedule 13G on each
person's behalf, which were filed with Amendment No. 2 to the Schedule 13D filed
with the Securities and Exchange  Commission on July 16, 2003, by such Reporting
Persons with respect to the Common Stock of New World  Restaurant  Group,  Inc.,
are hereby  incorporated by reference.  The Powers of Attorney  executed by Ding
and  Schrier  authorizing  Landry  to sign and file  this  Schedule  13G on each
person's behalf, which were filed with Amendment No. 1 to the Schedule 13D filed
with the Securities  and Exchange  Commission on July 2, 2003, by such Reporting
Persons  with respect to the Common Stock of Salix  Pharmaceuticals,  Ltd.,  are
hereby  incorporated  by  reference.  The Power of  Attorney  executed  by Patel
authorizing  Landry to sign and file this Schedule 13G on his behalf,  which was
filed with  Amendment  No. 4 to the Schedule 13G filed with the  Securities  and
Exchange Commission on January 8, 2004, by such Reporting Person with respect to
the Common Stock of Catalytica Energy Systems,  Inc., is hereby  incorporated by
reference.  The Powers of Attorney  executed  by Noonday  G.P.  (U.S.),  L.L.C.,
Noonday Asset Management,  L.P.,  Noonday Capital,  L.L.C. and Cohen authorizing
Landry to sign and file this Schedule 13G on its or his behalf, which were filed
with  Amendment No. 5 to the Schedule 13G filed with the Securities and Exchange
Commission  on January 10, 2005, by such  Reporting  Persons with respect to the
Common Stock of Catalytica  Energy  Systems,  Inc., are hereby  incorporated  by
reference.  The Power of Attorney executed by Mittal  authorizing Landry to sign
and file this Schedule 13G on his behalf,  which was filed with  Amendment No. 6
to the Schedule 13G filed with the Securities and Exchange Commission on October
5, 2005, by such Reporting Person with respect to the Common Stock of Catalytica
Energy Systems, Inc., is hereby incorporated by reference. The Power of Attorney
executed by Moment  authorizing Landry to sign and file this Schedule 13G on his
behalf,  which was filed with the  Schedule  13D filed with the  Securities  and
Exchange Commission on January 9, 2006, by such Reporting Person with respect to
the  Common  Stock  of  Vintage  Petroleum,  Inc.,  is  hereby  incorporated  by
reference.








                              Page 33 of 36 Pages







                                  EXHIBIT INDEX

EXHIBIT 1                                Joint Acquisition Statement Pursuant to
                                         Section 240.13d-1(k)
















                              Page 34 of 36 Pages





                                                                       EXHIBIT 1
                                                                              to
                                                                    SCHEDULE 13G

                           JOINT ACQUISITION STATEMENT
                        PURSUANT TO SECTION 240.13d-1(k)
                        --------------------------------

         The undersigned  acknowledge and agree that the foregoing  statement on
Schedule  13G is  filed  on  behalf  of each of the  undersigned  and  that  all
subsequent amendments to this statement on Schedule 13G shall be filed on behalf
of each of the  undersigned  without the  necessity of filing  additional  joint
acquisition   statements.   The  undersigned  acknowledge  that  each  shall  be
responsible for the timely filing of such  amendments,  and for the completeness
and accuracy of the information concerning him, her or it contained therein, but
shall not be responsible  for the  completeness  and accuracy of the information
concerning the other  entities or persons,  except to the extent that he, she or
it knows or has reason to believe that such information is inaccurate.

Dated:  July 5, 2006


                /s/ Monica R. Landry
                ----------------------------------------
                NOONDAY CAPITAL, L.L.C.,
                On its own behalf and as the General Partner of
                NOONDAY ASSET MANAGEMENT, L.P.
                By Monica R. Landry, Attorney-in-fact


                /s/ Monica R. Landry
                ----------------------------------------
                NOONDAY G.P. (U.S.), L.L.C.
                By Monica R. Landry, Attorney-in-fact


                /s/ Monica R. Landry
                ---------------------------------------
                FARALLON PARTNERS, L.L.C.,
                On its own behalf,
                as the General Partner of
                FARALLON CAPITAL PARTNERS, L.P.,
                FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
                FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
                FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
                TINICUM PARTNERS, L.P. and
                FARALLON CAPITAL OFFSHORE INVESTORS II, L.P.
                and as the Managing Member of
                NOONDAY CAPITAL PARTNERS, L.L.C.
                By Monica R. Landry, Managing Member






                              Page 35 of 36 Pages







                /s/ Monica R. Landry
                ----------------------------------------
                FARALLON CAPITAL MANAGEMENT, L.L.C.
                By Monica R. Landry, Managing Member


                /s/ Monica R. Landry
                ----------------------------------------
                Monica R. Landry, individually and as attorney-in-fact for
                each of David I. Cohen, Chun R. Ding, William F. Duhamel,
                Richard B. Fried, William F. Mellin, Stephen L. Millham,
                Saurabh K. Mittal, Jason E. Moment, Rajiv A. Patel,
                Derek C. Schrier, Thomas F. Steyer and Mark C. Wehrly












                              Page 36 of 36 Pages