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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	November 16, 2006
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  	Bell Industries, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	California
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  	001-11471
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  	95-2039211
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	1960 E. Grand Avenue, Suite #560, El Segundo, California
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  	90245
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	310-563-2355
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On November 16, 2006, Bell Industries, Inc. (the "Company") entered into an amendment (the "Amendment") with SkyTel, Corp. ("SkyTel"), an indirect subsidiary of Verizon Communications Inc., to that certain Asset Purchase Agreement (the "Agreement"), dated November 10, 2006 between the Company and SkyTel, providing for the Company&#x2019;s purchase of substantially all of the assets of SkyTel for $23,000,000, subject to certain post closing adjustments.  The Amendment clarifies the right of the Company to assign its rights and obligations under the Agreement to the Company&#x2019;s secured lenders in certain events. <br><br>	Pursuant to the Agreement, the $3,450,000 purchase deposit paid by the Company upon the execution of the Agreement was forfeitable by the Company if the Company failed to obtain a financing commitment letter for the transaction on or prior to November 22, 2006.  On November 17, 2006, the Company obtained a financing commitment letter for the transaction.  The purchase deposit remains subject to forfeiture, however, if the Company fails to fulfill certain other conditions to close.<br><br>	The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. 	<br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (d)	Exhibits.<br><br>10.1- 	Amendment No. 1 to the Asset Purchase Agreement, dated as of November 16, 2006 between SkyTel Corp., a Delaware corporation, and Bell Industries, Inc., a California corporation.<br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Bell Industries, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	November 20, 2006
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  	By:
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  <I>
  	/s/ John A. Fellows
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  	&nbsp;
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  <I>
  	Name: John A. Fellows
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  <I>
  	Title: President and Chief Executive Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	10.1
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  	&nbsp;
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  Amendment No. 1 to the Asset Purchase Agreement, dated as of November 16, 2006 between SkyTel Corp., a Delaware corporation, and Bell Industries, Inc., a California corporation.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_16518.htm", "description": "LIVE FILING", "secsgml_size_bytes": 11392}]
metadata_filer: {"company-data": {"conformed-name": "BELL INDUSTRIES INC /NEW/", "cik": "0000945489", "assigned-sic": "5065", "irs-number": "952039211", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11471", "film-number": "061229128"}, "business-address": {"street1": "1960 E GRAND AVENUE SUITE 560", "city": "EL SEGUNDO", "state": "CA", "zip": "90245", "phone": "3105632355"}, "mail-address": {"street1": "1960 E GRAND AVENUE SUITE 560", "city": "EL SEGUDON", "state": "CA", "zip": "90245"}, "former-company": {"former-conformed-name": "CALIFORNIA BELL INDUSTRIES INC", "date-changed": "19950519"}}
text: Bell Industries, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  November 16, 2006
  Bell Industries, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  California
  001-11471
  95-2039211
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  1960 E. Grand Avenue, Suite #560, El Segundo, California
  90245
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  310-563-2355
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On November 16, 2006, Bell Industries, Inc. (the "Company") entered into an amendment (the "Amendment") with SkyTel, Corp. ("SkyTel"), an indirect subsidiary of Verizon Communications Inc., to that certain Asset Purchase Agreement (the "Agreement"), dated November 10, 2006 between the Company and SkyTel, providing for the Company's purchase of substantially all of the assets of SkyTel for $23,000,000, subject to certain post closing adjustments.  The Amendment clarifies the right of the Company to assign its rights and obligations under the Agreement to the Company's secured lenders in certain events.
  Pursuant to the Agreement, the $3,450,000 purchase deposit paid by the Company upon the execution of the Agreement was forfeitable by the Company if the Company failed to obtain a financing commitment letter for the transaction on or prior to November 22, 2006.  On November 17, 2006, the Company obtained a financing commitment letter for the transaction.  The purchase deposit remains subject to forfeiture, however, if the Company fails to fulfill certain other conditions to close.
  The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
  Item 9.01 Financial Statements and Exhibits.
  (d)	Exhibits.
  10.1- 	Amendment No. 1 to the Asset Purchase Agreement, dated as of November 16, 2006 between SkyTel Corp., a Delaware corporation, and Bell Industries, Inc., a California corporation.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Bell Industries, Inc.
  November 20, 2006
  By:
  /s/ John A. Fellows
  Name: John A. Fellows
  Title: President and Chief Executive Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Amendment No. 1 to the Asset Purchase Agreement, dated as of November 16, 2006 between SkyTel Corp., a Delaware corporation, and Bell Industries, Inc., a California corporation.