UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                  SCHEDULE 13G
                    Under the Securities Exchange Act of 1934
                                Amendment No. 2

                             Oglebay Norton Company
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                     Common Stock, $.01 par value per share
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   677007205
                  ---------------------------------------------
                                 (CUSIP Number)

                               December 31, 2007
- --------------------------------------------------------------------------------
            (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)


         *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 disclosure provided in a prior cover page.


         The information required on the remainder of this cover page shall not
be deemed to be filed for the purpose of Section 18 of the Securities Exchange
Act of 1934, as amended ("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).


                                Page 1 of 10 pages



CUSIP NO. 677007205
- --------------------------------------------------------------------------------
1.      NAME OF REPORTING PERSONS
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

       American International Group, Inc.
       I.R.S. Identification No. 13-2592361
- --------------------------------------------------------------------------------
2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

                                                    (a)      [ ]
                                                    (b)      [ ]
- --------------------------------------------------------------------------------
3.    SEC USE ONLY

- --------------------------------------------------------------------------------
4.    CITIZENSHIP OR PLACE OF ORGANIZATION

      Incorporated under the laws of the State of Delaware
- --------------------------------------------------------------------------------
                        5.    SOLE VOTING POWER
  NUMBER OF                            0
   SHARES                     --------------------------------------------------
BENEFICIALLY            6.    SHARED VOTING POWER
  OWNED BY                     956,333
    EACH                      --------------------------------------------------
 REPORTING              7.    SOLE DISPOSITIVE POWER
   PERSON                              0
    WITH                      --------------------------------------------------
                        8.    SHARED DISPOSITIVE POWER
                               956,333
- --------------------------------------------------------------------------------
  9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
       PERSON
                                            956,333
- --------------------------------------------------------------------------------
10.   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
      CERTAIN SHARES
                                                     [ ]
- --------------------------------------------------------------------------------
11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW  (9)
                                             13.34%
- --------------------------------------------------------------------------------
12.   TYPE OF REPORTING PERSON

                                       HC


                                   Page 2 of 10



CUSIP NO. 677007205
- --------------------------------------------------------------------------------
1.      NAME OF REPORTING PERSONS
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON


       AIG Global Asset Management Holdings Corp.
       I.R.S. Identification No. 13-3870953
- --------------------------------------------------------------------------------
2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

                                             (a)      [ ]
                                             (b)      [ ]
- --------------------------------------------------------------------------------
3.    SEC USE ONLY

- --------------------------------------------------------------------------------
4.    CITIZENSHIP OR PLACE OF ORGANIZATION

       Organized under the laws of the State of Delaware
- --------------------------------------------------------------------------------
                        5.    SOLE VOTING POWER
  NUMBER OF                            0
   SHARES                     --------------------------------------------------
BENEFICIALLY            6.    SHARED VOTING POWER
  OWNED BY                     956,333
    EACH                      --------------------------------------------------
 REPORTING              7.    SOLE DISPOSITIVE POWER
   PERSON                              0
    WITH                      --------------------------------------------------
                        8.    SHARED DISPOSITIVE POWER
                               956,333
- --------------------------------------------------------------------------------
  9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
       PERSON
                                            956,333
- --------------------------------------------------------------------------------
10.   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
      CERTAIN SHARES
                                                     [ ]
- --------------------------------------------------------------------------------
11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW  (9)
                                             13.34%
- --------------------------------------------------------------------------------
12.   TYPE OF REPORTING PERSON
                                       HC


                                   Page 3 of 10



CUSIP NO. 677007205
- --------------------------------------------------------------------------------
1.      NAME OF REPORTING PERSONS
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

       AIG Global Investment Corp.
       I.R.S. Identification No. 06-1078320
- --------------------------------------------------------------------------------
2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

                                                    (a)      [ ]
                                                    (b)      [ ]
- --------------------------------------------------------------------------------
3.    SEC USE ONLY

- --------------------------------------------------------------------------------
4.    CITIZENSHIP OR PLACE OF ORGANIZATION

      Organized under the laws of the State of New Jersey
- --------------------------------------------------------------------------------
                        5.    SOLE VOTING POWER
  NUMBER OF                            0
   SHARES                     --------------------------------------------------
BENEFICIALLY            6.    SHARED VOTING POWER
  OWNED BY                     956,333
    EACH                      --------------------------------------------------
 REPORTING              7.    SOLE DISPOSITIVE POWER
   PERSON                              0
    WITH                      --------------------------------------------------
                        8.    SHARED DISPOSITIVE POWER
                               956,333
- --------------------------------------------------------------------------------
  9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
       PERSON
                                            956,333
- --------------------------------------------------------------------------------
10.   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
      CERTAIN SHARES
                                                     [ ]
- --------------------------------------------------------------------------------
11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW  (9)
                                             13.34%
- --------------------------------------------------------------------------------
12.   TYPE OF REPORTING PERSON

                                       IA


                                   Page 4 of 10



ITEM 1 (a).       NAME OF ISSUER:

                  Oglebay Norton Company

ITEM 1 (b).       ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

                  North Point Tower
                  1001 Lakeside Avenue
                  15th Floor
                  Cleveland, Ohio 44114

ITEM 2 (a).       NAME OF PERSON(S) FILING:

                  American International Group, Inc.

                  AIG Global Asset Management Holdings Corp.

                  AIG Global Investment Corp.


ITEM 2 (b).       ADDRESS OF PRINCIPAL BUSINESS OFFICE(S):

                  American International Group, Inc.
                  70 Pine Street
                  New York, New York  10270

                  AIG Global Asset Management Holdings Corp.
                  70 Pine Street
                  New York, New York 10270

                  AIG Global Investment Corp.
                  175 Water Street
                  New York, New York 10038

ITEM 2 (c).       CITIZENSHIP:

                  The information requested hereunder is set forth
                  under Item 4 of the cover pages to this Schedule 13G.

ITEM 2 (d).       TITLE OF CLASS OF SECURITIES:

                  Common Stock, $.01 par value per share

ITEM 2 (e).       CUSIP NUMBER:  677007205


                                  Page 5 of 10


ITEM 3.       TYPE OF PERSONS FILING:

                       American International Group, Inc.:

                       (g)      Parent Holding Company, in accordance with
                                Rule 13d-1(b) (ii) (G) promulgated under the
                                Securities Exchange Act of 1934, as amended
                                (the "Act")

                       AIG Global Asset Management Holdings Corp.:

                       (g)      Parent Holding Company, in accordance with Rule
                                13d-1(b)(ii)(G) promulgated under the Act

                       AIG Global Investment Corp.

                       (e)      Investment Adviser, in accordance with Rule
                                13d-1(b)(ii)(E) promulgated under the Act

 ITEM 4.               OWNERSHIP.

                       (a) through (c). The information requested hereunder is
                       set forth under Items 5 through 9 and Item 11 of the
                       cover pages to this Schedule 13G.

ITEM 5.       OWNERSHIP OF FIVE PERCENT OR LESS OF CLASS.

                       Not applicable.

ITEM 6.       OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
                       ANOTHER PERSON.

                       The shares of Common Stock of the Issuer are held by AIG
                       Global Investment Corp. as investment adviser for AIG
                       Annuity Insurance Company, SunAmerica Life Insurance
                       Company and The Variable Annuity Life Insurance Company,
                       each of which is a wholly-owned subsidiary of American
                       International Group, Inc.

ITEM 7.       IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
                       WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY
                       THE PARENT HOLDING COMPANY.

                       See Exhibit 1 attached hereto for the information
                       requested hereunder with respect to the relevant
                       subsidiaries of American International Group, Inc.

ITEM 8.       IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
                       GROUP.

                       Not applicable.

ITEM 9.       NOTICE OF DISSOLUTION OF GROUP.

                       Not applicable.


                                  Page 6 of 10



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 such purpose or
effect.


                                    SIGNATURE

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

Date:  February 12, 2008

                          AMERICAN INTERNATIONAL GROUP, INC.


                          By /s/ Win J. Neuger
                          -------------------------------------------
                          Name: Win J. Neuger
                          Title:    Executive Vice President and
                                    Chief Investment Officer


                          AIG GLOBAL ASSET MANAGEMENT HOLDINGS CORP.


                          By /s/ Win J. Neuger
                          -------------------------------------------
                          Name: Win J. Neuger
                          Title: Chairman and Chief Executive Officer


                          AIG GLOBAL INVESTMENT CORP.


                          By /s/ Win J. Neuger
                          -------------------------------------------
                          Name: Win J. Neuger
                          Title: Chairman and Chief Executive Officer




                                  Page 7 of 10



                                  EXHIBIT INDEX



Exhibit 1     Identification and Classification of the Subsidiaries Which
              Acquired the Security Being Reported on by the Parent Holding
              Company


                                  Page 8 of 10




                                                                       Exhibit 1

IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY
BEING REPORTED ON BY THE PARENT HOLDING COMPANY.


          American International Group, Inc. -- Subsidiary Information


AIG Global Asset Management Holdings Corp.:

          Parent Holding Company or Control Person pursuant to Rule
          13d-1(b)(ii)(G)

           Category Symbol:           HC



AIG Global Investment Corp.:

          Investment Adviser pursuant to Rule 13d-1(b)(ii)(E)

           Category Symbol:           IA




                                  Page 9 of 10