SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                 SCHEDULE 13G
                                (Rule 13d-102)


           INFORMANTION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
          TO RULES 13d-1(b) (c), AND (d) AND AMENDMENTS THERETO FILED
                         PURSUANT TO RULE 13d-2(b)/1/
                                Amendment No. 1

                              Liz Claiborne Inc.
--------------------------------------------------------------------------------
                               (Name of Issuer)

                                 Common Stock
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                  539320 10 1
                        ------------------------------
                                 (CUSIP Number)

                               December 31, 2001
--------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)

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

     [X] Rule 13d-1(b)
     [_] Rule 13d-1(c)
     [_] Rule 13d-1(d)

                        (Continued on following Pages)

__________________
     /1/  The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter 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).


  ---------------------                                      ------------------
  CUSIP No. 539320 10 1                  13G                 Page 2 of 11 Pages
  ---------------------                                      ------------------

-----------------------------------------------------------------------------
     NAME OF REPORTING PERSON
 1   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     Warren E. Buffett
-----------------------------------------------------------------------------
     CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                               (A) [X]
                                                                 (B) [_]
-----------------------------------------------------------------------------
     SEC USE ONLY
 3

-----------------------------------------------------------------------------
     CITIZEN OR PLACE OF ORGANIZATION
 4
     United States Citizen
-----------------------------------------------------------------------------
                         SOLE VOTING POWER
                    5
    NUMBER OF            -0-
     SHARES        ----------------------------------------------------------
                         SHARED VOTING POWER
  BENEFICIALLY      6
    OWNED BY             984,300
                   ----------------------------------------------------------
      EACH          7    SOLE DISPOSITIVE POWER
   REPORTING
                         -0-
  PERSON WITH      ----------------------------------------------------------
                         SHARED DISPOSITIVE POWER

                    8    984,300
-----------------------------------------------------------------------------
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9
     984,300
-----------------------------------------------------------------------------
     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                                                                   [_]
     Not Applicable
-----------------------------------------------------------------------------
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
     1.87
-----------------------------------------------------------------------------
     TYPE OF REPORTING PERSON
12
     IN
-----------------------------------------------------------------------------


  ---------------------                                      ------------------
  CUSIP No. 539320 10 1                  13G                 Page 3 of 11 Pages
  ---------------------                                      ------------------

-----------------------------------------------------------------------------
     NAME OF REPORTING PERSON
 1   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     Berkshire Hathaway Inc.
-----------------------------------------------------------------------------
 2   CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (A) [X]
                                                                 (B) [_]
-----------------------------------------------------------------------------
     SEC USE ONLY
 3

-----------------------------------------------------------------------------
     CITIZEN OR PLACE OF ORGANIZATION
 4
     Delaware Corporation
-----------------------------------------------------------------------------
                         SOLE VOTING POWER
    NUMBER OF       5
     SHARES              -0-
                   ----------------------------------------------------------
                         SHARED VOTING POWER
  BENEFICIALLY      6
    OWNED BY             984,300
                   ----------------------------------------------------------
      EACH               SOLE DISPOSITIVE POWER
   REPORTING        7
                         -0-
                   ----------------------------------------------------------
  PERSON WITH            SHARED DISPOSITIVE POWER
                    8
                         984,300
-----------------------------------------------------------------------------
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9
     984,300
-----------------------------------------------------------------------------
     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                                                                   [_]
     Not Applicable
-----------------------------------------------------------------------------
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
     1.87
-----------------------------------------------------------------------------
     TYPE OF REPORTING PERSON
12
     HC, CO
-----------------------------------------------------------------------------


  ---------------------                                      ------------------
  CUSIP No. 539320 10 1                  13G                 Page 4 of 11 Pages
  ---------------------                                      ------------------

-----------------------------------------------------------------------------
     NAME OF REPORTING PERSON
 1   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     OBH, Inc.
-----------------------------------------------------------------------------
     CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                               (A) [X]
                                                                 (B) [_]
-----------------------------------------------------------------------------
     SEC USE ONLY
 3

-----------------------------------------------------------------------------
     CITIZEN OR PLACE OF ORGANIZATION
 4
     Delaware Corporation
-----------------------------------------------------------------------------
                         SOLE VOTING POWER
    NUMBER OF       5
     SHARES              -0-
                   ----------------------------------------------------------
                         SHARED VOTING POWER
  BENEFICIALLY      6
    OWNED BY             984,300
                   ----------------------------------------------------------
      EACH               SOLE DISPOSITIVE POWER
   REPORTING        7
                         -0-
                   ----------------------------------------------------------
  PERSON WITH            SHARED DISPOSITIVE POWER
                    8    984,300
-----------------------------------------------------------------------------
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9
     984,300
-----------------------------------------------------------------------------
     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                                                                   [_]
     Not Applicable
-----------------------------------------------------------------------------
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
     1.87
-----------------------------------------------------------------------------
     TYPE OF REPORTING PERSON
12
     HC, CO
-----------------------------------------------------------------------------



  ---------------------                                      ------------------
  CUSIP No. 539320 10 1                  13G                 Page 5 of 11 Pages
  ---------------------                                      ------------------

-----------------------------------------------------------------------------
     NAME OF REPORTING PERSON
 1   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     National Indemnity Company
-----------------------------------------------------------------------------
     CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                               (A) [X]
                                                                 (B) [_]
-----------------------------------------------------------------------------
     SEC USE ONLY
 3

-----------------------------------------------------------------------------
     CITIZEN OR PLACE OF ORGANIZATION
 4
     Nebraska Corporation
-----------------------------------------------------------------------------
                         SOLE VOTING POWER
                    5
    NUMBER OF            -0-
     SHARES        ----------------------------------------------------------
                         SHARED VOTING POWER
  BENEFICIALLY      6
    OWNED BY             984,300
                   ----------------------------------------------------------
      EACH               SOLE DISPOSITIVE POWER
   REPORTING        7
                         -0-
  PERSON WITH      ----------------------------------------------------------
                         SHARED DISPOSITIVE POWER
                    8
                         984,300
-----------------------------------------------------------------------------
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9
     984,300
-----------------------------------------------------------------------------
     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                                                                   [_]
     Not Applicable
-----------------------------------------------------------------------------
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
     1.87
-----------------------------------------------------------------------------
     TYPE OF REPORTING PERSON
12
     IC, CO
-----------------------------------------------------------------------------




Item 1(a). Name of Issuer

     Liz Claiborne Inc.

Item 1(b). Address of Issuer's Principal Executive Offices:

     1441 Broadway
     New York, NY 10018

Item 2(a). Name of Persons Filing:
Item 2(b). Address of Principal Business Office:
Item 2(c). Citizenship:

     Warren E. Buffett
     1440 Kiewit Plaza
     Ohaha, Nebraska 68131
     United States Citizen

     Berkshire Hathaway Inc.
     1440 Kiewit Plaza
     Omaha, Nebraska 68131
     Delaware Corporation

     OBH, Inc.
     1440 Kiewit Plaza
     Omaha, Nebraska 68131
     Delaware Corporation

     National Indemnity Company
     3024 Harney Street
     Omaha, Nebraska 68131
     Nebraska Corporation

Item 2(d). Title of Class of Securities:

     Common Stock

Item 2(e). CUSIP Number

     539320 10 1

Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or
        (c), check whether the person filing is a:

     (a) [_]  Broker or Dealer registered under section 15 of the Act

     (b) [_]  Bank as defined in section 3(a)(6) of the Act.

     (c) [X]  Insurance company as defined in section 3(a)(19)

                                 Page 6 of 11



               of the Act.

               National Indemnity Company

     (d)  [_]  Investment Company registered under Section 8 of the Investment
               Company Act of 1940.

     (e)  [_]  An investment advisor registered in accordance with Rule 13d-
               1(b)(1)(ii)(E);

     (f)  [_]  An employee benefit plan or endowment fund in accordance with
               Rule 13d-1(b)(1)(ii)(F);

     (g)  [X]  A parent holding company or control person in accordance with
               Rule 13d-1(b)(1)(ii)(G);

               OBH, Inc.
               Berkshire Hathaway Inc.
               Warren E. Buffet (an individual who may be
               deemed to control Berkshire Hathaway Inc.)

     (h)  [_]  A savings association as defined in Section 3(b) of the Federal
               Deposit Insurance Act;

     (i)  [_]  A church plan that is excluded from the definition of an
               investment company under Section 3(c)(14) of the Investment
               Company Act;

     (j)  [X]  Group in accordance with Rule 13d-1(b)(1)(ii)(J).

               See Exhibit A

Item 4.   Ownership.

     Warren E. Buffett

     (a)  Amount Beneficially Owned:

          984,300

     (b)  Percent of Class:

          1.87

     (c)  Number of shares as to which the person has:

          (i)  sole power to vote or to direct the vote:

                                 Page 7 of 11



                  -0-

          (ii)    shared power to vote or to direct the vote:

                  984,300

          (iii)   sole power to dispose or direct the disposition of:

                  -0-

          (iv)    shared power to dispose or to direct the disposition of:

                  984,300

     Berkshire Hathaway Inc.

     (a)  Amount Beneficially Owned:

          984,300

     (b)  Percent of Class:

          1.87

     (c)  Number of shares as to which such person has:

          (i)     sole power to vote or to direct the vote:

                  -0-

          (ii)    shared power to vote or to direct the vote:

                  984,300

          (iii)   sole power to dispose or direct the disposition of:

                  -0-

          (iv)    shared power to dispose or to direct the disposition of:

                  984,300

          OBH, Inc.

                                 Page 8 of 11




     (a)  Amount Beneficially Owned:

          984,300

     (b)  Percent of Class:

          1.87

     (c)  Number of shares as to which such person has:

          (i)     sole power to vote or to direct the vote:

                  -0-

          (ii)    shared power to vote or to direct the vote:

                  984,300

          (iii)   sole power to dispose or direct the disposition of:

                  -0-

          (iv)    shared power to dispose or to direct the disposition of:

                  984,300

National Indemnity Company

     (a)  Amount Beneficially Owned:

          984,300

     (b)  Percent of Class:

          1.87

     (c)  Number of shares as to which the person has:

          (i)     sole power to vote or to direct the vote:

                  -0-

          (ii)    shared power to vote or to direct the vote:

                  984,300

          (iii)   sole power to dispose or direct the

                                 Page 9 of 11





          disposition of:

                    -0-

          (iv)      shared power to dispose or to direct the disposition of:

                    984,300

Item 5.   Ownership of Five Percent or Less of a Class.

     If this statement is being filed to report the fact that as of the date
     hereof the reporting person has ceased to be the beneficial owner of more
     than five percent of the class of securities, check the following [X].

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 or Control
          Person.

     See Exhibit A

Item 8.   Identification and Classification of Members of the Group.

     See Exhibit A

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 acquired and are held in the ordinary
course of business and 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 10 of 11


                                   SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Dated this 14th day of February, 2002

     /s/ Warren E. Buffett
----------------------------------
Warren E. Buffett


BERKSHIRE HATHAWAY INC.                      OBH, Inc

By:     /s/ Warren E. Buffett                By:     /s/ Warren E. Buffett
     ------------------------------               ------------------------------
     Warren E. Buffett                            Warren E. Buffett
     Chairman of the Board                        Chairman of the Board


NATIONAL INDEMNITY COMPANY

By:     /s/ Warren E. Buffett
     -------------------------------
     Waren E. Buffett
     Chairman of the Board

                                 Page 11 of 11


                                   Exhibit A

                            MEMBERS OF FILING GROUP

PARENT HOLDING COMPANY:

Berkshire Hathaway Inc.

OBH, Inc.

Warren E. Buffett (an individual who may be deemed to control Berkshire Hathaway
Inc.)

RELEVENT SUBSIDIARIES THAT ARE INSURANCE COMPANIES AS DEFINED IN SECTION
3(a)(19) OF THE ACT:

National Indemnity Company