<SUBMISSION>
<ACCESSION-NUMBER>0001144556-03-000019
<TYPE>SC 13G/A
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20030210
<GROUP-MEMBERS>AMALGAMATED GADGET, L.P.
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>PERSONNEL GROUP OF AMERICA INC
<CIK>0000948850
<ASSIGNED-SIC>7363
<IRS-NUMBER>561930691
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0103
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13G/A
<ACT>34
<FILE-NUMBER>005-44909
<FILM-NUMBER>03546056
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>5605 CARNEGIE BLVD
<STREET2>STE 500
<CITY>CHARLOTTE
<STATE>NC
<ZIP>28209
<PHONE>7044425100
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>5605 CARNEGIE BLVD
<STREET2>SUITE 500
<CITY>CHARLOTTE
<STATE>NC
<ZIP>28209
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>AMALGAMATED GADGET LP
<CIK>0001114634
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13G/A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>301 COMMERCE ST
<STREET2>STE 2975
<CITY>FORT WORTH
<STATE>TX
<ZIP>76102
<PHONE>.
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>800 BRAZOS
<STREET2>STE 1100
<CITY>AUSTIN
<STATE>TX
<ZIP>78701
</MAIL-ADDRESS>
</FILED-BY>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>personnel13g.htm
<DESCRIPTION>PERSONNEL GROUP OF AMERICA, INC. SCHEDULE 13G, AMENDMENT NO. 2
<TEXT>
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<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C.&nbsp;&nbsp;20549<BR>
<BR>
SCHEDULE 13G<BR>
<BR>
Information Statement Pursuant to Rules 13d-1 and 13d-2<BR>
Under the Securities Exchange Act of 1934<BR>
(Amendment No.&nbsp;2)*<BR>
<BR>
Personnel Group of America, Inc.<BR>
(Name of Issuer)<BR>
<BR>
Common Stock, Par Value $.01 Per Share<BR>
(Title of Class of Securities)<BR>
<BR>
715338109<BR>
(CUSIP Number)<BR>
<BR>
December 31, 2002<BR>
(Date of Event Which Requires Filing of This Statement)</P>
<P><BR>
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:<BR>
<BR>
/&nbsp;&nbsp;&nbsp;/&nbsp;&nbsp;Rule 13d-1(b)<BR>
/&nbsp;X&nbsp;/&nbsp;&nbsp;Rule 13d-1(c) <BR>
/&nbsp;&nbsp;&nbsp;/&nbsp;&nbsp;Rule 13d-1(d)<BR>
<BR>
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.<BR>
<BR>
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).<BR>
<BR>
**The total number of shares of the Stock reported herein is 2,012,051 shares, which constitutes approximately 7.3% of the 27,565,186 shares deemed outstanding pursuant to Rule 13d-3(D)(1).&nbsp;&nbsp;Unless otherwise stated herein, all other ownership percentages set forth herein assume that there are 26,776,135 shares outstanding. <BR>
</P>
<P>&lt;PAGE&gt;<BR>
<BR>
CUSIP No. 715338109<BR>
<BR>
1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name of Reporting Person:<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amalgamated Gadget, L.P. <BR>
<BR>
2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the Appropriate Box if a Member of a Group:<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) /&nbsp;&nbsp;&nbsp;/<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) /&nbsp;&nbsp;&nbsp;/<BR>
<BR>
3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEC Use Only<BR>
<BR>
4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizenship or Place of Organization: Texas<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sole Voting Power:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,223,000 (1)<BR>
Number of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Shares<BR>
Beneficially&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shared Voting Power: -0-<BR>
Owned By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Each<BR>
Reporting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sole Dispositive Power: 1,223,000 (1)<BR>
Person&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
With<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shared Dispositive Power: -0-<BR>
<BR>
9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aggregate Amount Beneficially Owned by Each Reporting Person:<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,012,051 (1)(2)<BR>
<BR>
10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/&nbsp;&nbsp;&nbsp;/<BR>
<BR>
11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent of Class Represented by Amount in Row (9): 7.3% (3)<BR>
<BR>
12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Type of Reporting Person: PN<BR>
--------------<BR>
(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares were purchased by Amalgamated Gadget, L.P. for and on behalf of R<SUP>2 </SUP>Investments, LDC ("R<SUP>2</SUP>") pursuant to an Investment Management Agreement.&nbsp;&nbsp;Pursuant to such Agreement, Amalgamated Gadget, L.P. has sole voting and dispositive power over the shares and R<SUP>2</SUP> Investments, LDC has no beneficial ownership of such shares.<BR>
(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes 789,051 shares obtainable upon conversion of $14,053,000 principal amount of the Issuer's 5-3/4% Convertible Subordinated Notes due July 2004 (the "Notes").<BR>
(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Rule 13d-3(D)(1)(i), the number of shares deemed to be outstanding is 27,565,186.<BR>
</P>
<P>&lt;PAGE&gt;<BR>
<BR>
Pursuant to Rule 13d-2(a) of Regulation 13D-G of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended (the "Act"), the undersigned hereby amend their Schedule 13G Statement dated September 7, 2001, as amended by Amendment No. 1 dated February 13, 2002 (the "Schedule 13G"), relating to the Common Stock, par value $.01 per share (the "Stock"), of Personnel Group of America, Inc. (the "Issuer").&nbsp;&nbsp;Unless otherwise indicated, all defined terms used herein shall have the same meanings as those set forth in the Schedule 13G.<BR>
<BR>
Item 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ownership.<BR>
<BR>
Item 4 is hereby amended and restated in its entirety as follows:<BR>
<BR>
(a) - (b)<BR>
<BR>
<U>Reporting Person<BR>
</U><BR>
Amalgamated<BR>
<BR>
Pursuant to an Investment Management Agreement with R<SUP>2</SUP>, Amalgamated may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of 1,223,000 shares of the Stock, which constitutes approximately 4.4% of the 27,565,186 deemed to be outstanding pursuant to Rule 13d-3(D)(1)(i).&nbsp;&nbsp;Also pursuant to Rule 13d-3(D)(1) (i), the Reporting Person may be deemed to be the beneficial owner of an additional 789,051 shares of the Stock obtainable on conversion of $14,053,000 principal amount of the Notes held by the Reporting Person, which constitutes 2.9% of the 27,565,186 shares of the Stock deemed to be outstanding thereunder.<BR>
<BR>
<U>Controlling Persons<BR>
</U><BR>
Scepter<BR>
<BR>
Because of its position as the sole general partner of Amalgamated, Scepter may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of 2,012,051 shares of the Stock, which constitutes approximately 7.3% of the 27,565,186 shares of the Stock deemed outstanding pursuant to Rule 13-3(D)(1)(i).<BR>
<BR>
Raynor<BR>
<BR>
Because of his position as the President and sole shareholder of Scepter, which is the sole general partner of Amalgamated, Raynor may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of 2,012,051 shares of the Stock, which constitutes approximately 7.3% of the 27,565,186 shares of the Stock deemed outstanding pursuant to Rule 13-3(D)(1)(i).<BR>
<BR>
To the best of the knowledge of the Reporting Person, other than as set forth above, none of the persons named in Item 2 herein is the beneficial owner of any shares of the Stock.<BR>
<BR>
(c)&nbsp;&nbsp;<BR>
<BR>
<U>Reporting Person<BR>
</U><BR>
Amalgamated<BR>
<BR>
Acting through its general partner, Amalgamated has the sole power to vote or to direct the vote and to dispose or to direct the disposition of 1,223,000 shares of the Stock.<BR>
<BR>
<U>Controlling Persons<BR>
</U><BR>
Scepter<BR>
<BR>
As the sole general partner of Amalgamated, Scepter has the sole power to vote or to direct the vote and to dispose or to direct the disposition of 1,223,000 shares of the Stock.<BR>
<BR>
Raynor<BR>
<BR>
As the President and sole shareholder of Scepter, which is the sole general partner of Amalgamated, Raynor has the sole power to vote or to direct the vote and to dispose or to direct the disposition of 1,223,000 shares of the Stock.<BR>
<BR>
Item 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certification.<BR>
<BR>
Item 10 is hereby restated in its entirety as follows:<BR>
<BR>
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.<BR>
</P>
<P><BR>
&lt;PAGE&gt;<BR>
<BR>
After reasonable inquiry and to the best of our knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.<BR>
<BR>
<BR>
DATED:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;February 10, 2003<BR>
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<P>AMALGAMATED GADGET, L.P. <BR>
<BR>
By: Scepter Holdings, Inc., <BR>
its general partner<BR>
<BR>
<BR>
By:<U> /s/ William Holloway</U>&nbsp;&nbsp; <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William Holloway, Authorized Signatory</TD>
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