TCR_Public/010328.MBX          T R O U B L E D   C O M P A N Y   R E P O R T E R

                Wednesday, March 28, 2001, Vol. 5, No. 61

                            Headlines

ALAMAC KNIT: Seeks To Extend Exclusive Period To June 25
ALAMAC KNIT: Asks For More Time To Decide On Property Leases
AMES DEPARTMENT: Moody's Slashes Senior Debt Ratings
AVTEAM INC.: Files Chapter 11 Petition in S.D. Florida
BRIDGE: Ease Technologies Provides Support To TRIAD Users

CONEXANT: Lowers Q2 Outlook & Initiates Cost-Cutting Measures
D.I.Y. HOME: Posts $8.4 Million Net Loss for Fiscal Year 2000
EINSTEIN/NOAH: Boston Chicken Trust Challenges Bidding Process
ETOYS INC.: Scholastic Wins But Withdraws Bid for Inventory
FINOVA GROUP: Engages King & Associates As Claims Agent

FURRS SUPERMARKETS: Undergoes Senior Management Shake-Up
GEMKEY.COM: Taps Bid4Assets to Sell Computer Equipment Online
HARNISCHFEGER: Joy Moves To Transfer Injury Claim To Delaware
HEDSTROM HOLDINGS: Seeks Order Extending Exclusivity To June 6
IFCO SYSTEMS: Moody's Lowers Senior Subordinated Notes to B3

INDYMAC: Fitch Cuts Manufacturing Housing Notes To B From BB
INTEGRATED HEALTH: Seeks Further Extension of 9027 Removal Time
LABELS FOR LESS: Clothes Retailer Files Bankruptcy Petition
LASON INC.: John Messinger Steps Down As President/CEO/COO
LASON: Reports Accounting Irregularities in North American Units

LERNOUT & HAUSPIE: Wants More Time To Assume/Reject Leases
LOEWEN GROUP: Settles Employment Termination Claims
LOUISIANA-PACIFIC: Moody's Cuts Senior Debt Rating To Baa3
MARCHFIRST: Ceases Unit's Operations & Considers Selling Assets
MARINER: Court Approves Amendments to DIP Credit Agreement

MAXICARE HEALTH: Posts Increasing Net Losses for Q4 and FY 2000
MMH HOLDINGS: Wants To Extend Exclusive Period To May 24
NAMIBIAN MINERALS: Secures $25MM Funding To Restart Operations
NETWORK CONNECTION: Files Chapter 11 Petition in Pennsylvania
ORBCOMM GLOBAL: Seeks To Convert Bankruptcy Case to Chapter 7

OWENS CORNING: Newcourt Asks For Relief From Automatic Stay
POTLATCH CORP.: Senior Unsecured Debt Ratings Down To Baa3
PRECISION AUTO: Nasdaq Intends to Delist Shares From Trading
PSINET INC.: ISP On The Verge of Default, Nears Bankruptcy
REGAL CINEMAS: Anschutz Moves Closer To Gaining Control Of Chain

RESORT AT SUMMERLIN: Committee Opposes Extension of Exclusivity
STRATEGIC DISTRIBUTION: Nasdaq Looks To Delisting Shares
SUN HEALTHCARE: Agrees To Transfer North Carolina Facility
VENCOR INC.: Rejects Contract With Hyperbaric Management
XPEDIOR INC.: Voluntarily Delists Shares From the Nasdaq Market

* Meetings, Conferences and Seminars

                            *********

ALAMAC KNIT: Seeks To Extend Exclusive Period To June 25
--------------------------------------------------------
Alamac Knit Fabrics, Inc., et al. asks the bankruptcy court for
an order extending the period during which debtors have the
exclusive right to file a plan of reorganization. The debtors
requested entry of an order extending the debtors' exclusivity
period ninety days to and including June 25, 2001. A hearing on
the motion will be held tomorrow, March 29, 2001 at 10:30 AM
before the Honorable Mary F. Walrath, US Bankruptcy Court,
Wilmington, DE.

By this motion the debtors request additional time to allow the
debtors to finalize negotiations relating to their exit
financing and seek confirmation of the plan. The debtors intend
to reorganize as an ongoing business and believe that the
restructuring represents the best method of accomplishing
that goal. The debtors believe that they will be in a position
to seek confirmation of the plan shortly after securing
commitments for such financing.


ALAMAC KNIT: Asks For More Time To Decide On Property Leases
------------------------------------------------------------
Alamac Knit Fabrics, Inc., et al. seeks a court order extending
the period during which debtors assume or reject unexpired
leases of nonresidential real property.  The debtors request
entry of an order extending the period within which they must
assume or reject several prepetition nonresidential real
property leases to and including May 25, 2001. A hearing on the
motion will be held tomorrow, March 29, 2001 at 10:30 AM
before the Honorable Mary F. Walrath, US Bankruptcy Court,
Wilmington, DE.

The debtors' proposed pre-arranged joint plan of reorganization
provides for the assumption of all leases of nonresidential real
estate. The hearing to consider the confirmation of the plan is
currently scheduled for March 29, 2001, and the debtors believe
that a further continuation of the Confirmation Hearing is
possible. While the debtors contemplate the assumption of all
leases of nonresidential real property, consistent with the
terms of the plan, the debtors wish to retain the flexibility to
assume or reject such leases beyond the Acceptance Deadline,
March 26, 2001.


AMES DEPARTMENT: Moody's Slashes Senior Debt Ratings
----------------------------------------------------
Moody's Investors Service downgraded the ratings of Ames
Department Stores and placed the ratings on review for possible
further downgrade.

The downgrade reflects greater than expected losses for the
fourth quarter, resulting in a higher level of debt at year end
than Moody's had anticipated.

The following ratings were affected by the downgrade:

      -- Senior implied rating to B3 from B2;

      -- Senior guaranteed notes due 2006 to Caa1 from B3;

      -- Senior unsecured issuer rating and rating of Hills
         Stores senior unsecured notes to Caa3 from Caa1.

The rating of Ames' $650 million secured bank facility was
withdrawn due to its replacement by a new $800 million unrated
senior secured bank facility.

The review action will concentrate on revised expectations for
operating performance and leverage for the current year based on
higher debt levels and indications of soft sales levels during
the first quarter.

Ames' sales were expected to be negatively impacted by the
liquidation of the Bradlees chain at the beginning of the year,
but the loss of Bradlees as a competitor is expected to be a
positive development throughout the remainder of the year.

The review will also focus on availability and constraints on
borrowing in the new credit facility, and on the impact on
recovery value, which the larger secured facility could have on
the value of unsecured debt in case of default.

Ames Department Stores Inc., headquartered in Rocky Hill,
Connecticut, operates the fourth largest discount store chain in
the U.S.


AVTEAM INC.: Files Chapter 11 Petition in S.D. Florida
------------------------------------------------------
AVTEAM, Inc. (Nasdaq: AVTM), a global supplier of aftermarket
engines, engine parts and aircraft components, announced that
it, along with its two wholly-owned subsidiaries, AVTEAM Engine
Repair Corp. and AVTEAM Aviation Field Services, Inc., have
filed petitions for Chapter 11 protection with the United States
Bankruptcy Court for the Southern District of Florida in Miami-
Dade County.

The Company also announced that it has entered into a cash
collateral and financing arrangement with Bank of America, N.A.,
for an interim period of 45 days, whereby Bank of America will
permit the Company to utilize all rents, revenues, income and
profits derived from its property under the same terms and
conditions as reflected in certain credit documents entered into
between the Company and Bank of America. The cash collateral and
financing arrangement is subject to U.S. Bankruptcy Court
approval.

The Company intends to avail itself of relevant bankruptcy laws
to facilitate the sale of its wholly-owned subsidiary, AVTEAM
Engine Repair Corp., as a going concern.


BRIDGE: Ease Technologies Provides Support To TRIAD Users
---------------------------------------------------------
Ease Technologies, Inc., the developer and licensor of the TRIAD
Financial Server, said it has enhanced efforts to provide on-
going support for TRIAD users currently supported by its
licensee Bridge Information Systems (BRIDGE(R)), in response to
user concerns and uncertainty in the wake of BRIDGE's Chapter 11
Bankruptcy proceedings.

Ease reaffirms its commitment to continue on-going development
and enhanced support for the current clients of TRIAD and has
increased its efforts to reassure the current TRIAD user
community of continued product growth, longevity and viability.

"Ease will continue to provide enhancements to ensure TRIAD's
premier status in the brokerage community and reassures all
TRIAD users of the products evolving future during BRIDGE's
current situation and beyond", stated John A. Douglas, Ease
Technologies Chief Technology Officer.

Ease Technologies, headquartered in Columbia, Maryland, is the
designer and developer of the TRIAD system, the industry's first
commercially available FIX-based client-server system. The TRIAD
system is currently installed in over 75 of the world's largest
financial firms and provides full FIX messaging support,
automated order forwarding and routing, reporting, and the most
advanced FIX messaging user interface available.

About Ease Technologies, Inc.

Ease Technologies, Inc. is the leading provider of FIX-based
transaction server software. The privately-held development and
systems integration firm, founded in 1993, designed and wrote
TRIAD in 1995 as a centralized server to handle the then growing
electronic trading marketplace.

TRIAD is the premier consolidator of all FIX traffic; orders,
executions, indications, advertisements, and allocations for
investment banks and brokerage firms worldwide. Ease has
continued to enhance and develop functionality around the TRIAD
engine since that time. Ease was recognized as the 50th fastest
growing technology firm in the country and has topped many high
tech growth lists.


CONEXANT: Lowers Q2 Outlook & Initiates Cost-Cutting Measures
-------------------------------------------------------------
Conexant Systems, Inc. (Nasdaq:CNXT) expects revenues for its
March-ending second fiscal quarter to be lower than previously
anticipated due to continuing weak demand and excess channel
inventory. The company also announced aggressive expense-
reduction initiatives and a comprehensive business reassessment
focused on leveraging core capabilities and aligning resources
with its highest-growth, highest-margin market opportunities.

Conexant now expects revenues for its second fiscal quarter to
be down by approximately 35-40 percent from first fiscal quarter
revenues of $410.4 million. Personal networking revenues are
expected to be lower by approximately 25-30 percent sequentially
due to continued deterioration in the digital cellular handset
and set-top box markets. The company anticipates Internet
infrastructure revenues will be down by approximately 45-50
percent sequentially, driven largely by a steep decline in its
access product lines.

Based on the expected revenue level for the second fiscal
quarter, the company anticipates a pro forma loss per diluted
share of between $0.35 and $0.40, excluding the impact of one-
time charges associated with expense-reduction initiatives,
restructuring measures, and significant additional inventory
reserves.

"The slowdown in the global economy and the ongoing inventory
correction is impacting virtually all of the communications end-
markets we address," said Dwight W. Decker, Conexant chairman
and chief executive officer. "As inventories are depleted, we
expect ordering patterns to return to normal levels, but we see
no clear indications of a recovery at this time.

"As a result of this challenging environment and our
deteriorating business performance, we are taking significant
actions to align our structure and operating expenses with
current and anticipated revenue levels. The steps we are
announcing today, though painful, are necessary to position the
company for a return to profitability by the end of the calendar
year."

     Expense-Reduction Initiatives and Non-Recurring Charges

Planned expense-reduction initiatives will include a reduction
in workforce, temporary shutdowns of the company's wafer
manufacturing and assembly and test facilities, a significant
reduction in capital spending based on the revised revenue
outlook, and pay cuts of 10 percent for the senior management
team.

The reduction in workforce will occur over the course of the
next six months and involve employees in all areas of the
company. When the workforce reduction is complete, the company's
worldwide headcount will be reduced by approximately 1500 full-
time employees. An additional 125 contractors will be affected,
for a total workforce reduction approaching 20 percent.

The temporary plant shutdowns will take place at the company's
wafer fabrication facilities in Newport Beach and Newbury Park,
California, and at its Mexicali, Mexico assembly and test plant.
The three plants will be idled for two weeks next quarter and
may be idled for two weeks the following quarter.

The company is also conducting a comprehensive reassessment of
its operations and business activities in order to focus
investment and resources in the areas that best support the
company's strategic growth drivers. These growth drivers are
Internet infrastructure, broadband access and mobile
communications.

Two initial decisions have been made as a result of this
sharpened strategic focus. The company is exploring alternatives
for its digital imaging business, which includes CMOS image
sensors and digital-camera processors, and will be entering into
discussions with potential investors and buyers. The company
also intends to exit its board-level sub-assembly business and
is examining the best alternatives for removing the El Paso,
Texas module assembly plant from its portfolio. Both actions are
targeted for completion within three to six months.

In total, the expense-reduction initiatives and restructuring
efforts are expected to save more than $200 million in operating
costs annually.

The company currently anticipates charges totaling approximately
$50 million associated with the announced expense-reduction
initiatives and restructuring measures, of which approximately
$7 million will be recognized in the current quarter. The
company also intends to take additional inventory reserves
totaling approximately $125 million as a result of steep
reductions in current demand and a lack of visibility into
future demand. The majority of these inventory reserves relate
to the company's digital cellular, set-top box, and multi-
service access product lines.

          Separation of Personal Networking and Internet
                  Infrastructure Businesses

Conexant also announced that its board of directors has approved
a one-step process for separating the personal networking
business and Mindspeed Technologies(TM), the company's Internet
infrastructure business. The separation will be accomplished by
the spin-off of Conexant's personal networking business to
Conexant shareowners as a new company that will retain the
Conexant name. This approach replaces the company's original
two-step spin plan, which consisted of an initial public
offering of stock in Mindspeed, to be followed within six months
by a tax-free distribution of remaining shares to Conexant
shareowners. The revised separation process, planned for
completion by the end of Conexant's September-ending fiscal
year, will create two independent, publicly traded
communications companies.

"We remain convinced that the separation of Conexant into two
independent companies best serves the interests of our
shareowners, customers and employees," Decker said. "Internally,
we have been operating Mindspeed and our personal networking
units as separate businesses since the beginning of February. A
weakened equity capital market and limited visibility in the
technology sector have severely diminished the attractiveness of
an initial public offering in Mindspeed. A one-step spin-off
approach provides a timely, efficient and non-dilutive
transaction for Conexant shareowners."

As previously announced, Decker will serve as chairman and chief
executive officer of the new Conexant. Scott Blouin will become
senior vice president and chief financial officer of the new
Conexant. Blouin recently joined the company from Burr- Brown
Corp., where he served as chief financial officer. The new
Conexant will be listed on the NASDAQ National Market and
expects to retain the ticker symbol "CNXT." Also as previously
announced, Raouf Halim will become chief executive officer of
Mindspeed, Balakrishnan Iyer will become senior vice president
and chief financial officer, and Decker will serve as non-
executive chairman. Mindspeed will be listed on the NASDAQ
National Market under the ticker symbol "MSPD" when the
separation is complete.

Completion of the spin-off requires shareowner approval and
receipt of an IRS ruling that it will qualify as a tax-free
distribution.

Mindspeed will continue to focus on providing complete
semiconductor and software solutions for manufacturers of
Internet infrastructure equipment. The new Conexant will
concentrate on delivering semiconductor systems solutions for
broadband access and mobile communications.

"Our most important tasks now are to aggressively manage
operating expenses during this period of ongoing inventory
correction and broad economic uncertainty, and to direct our
efforts and resources to those areas that leverage our core
capabilities and will allow us to create the most value," Decker
said. "While we face significant challenges, we remain confident
in our strategies and the long-term growth prospects of our
addressed markets."

The company will report second fiscal quarter financial results
and hold its regularly scheduled conference call for analysts
and investors on April 19, 2001. At that time the company will
provide more information on its financial performance, including
an update on its expense-reduction initiatives and its business
reassessment.

                About Conexant Systems, Inc.

Conexant Systems, Inc. is a worldwide leader in semiconductor
system solutions for communications applications. Conexant
leverages its expertise in mixed signal processing to deliver
integrated systems and semiconductor products through two
separate businesses: personal networking and Mindspeed
Technologies.


D.I.Y. HOME: Posts $8.4 Million Net Loss for Fiscal Year 2000
-------------------------------------------------------------
D.I.Y. Home Warehouse, Inc. (OTC Bulletin Board: DIYH) reported
a net loss of $8,392,000 or $(1.15) per basic and diluted share
for the fiscal year ended December 30, 2000. Included in these
year end results were $1,241,000 in inventory markdown costs and
$2,245,000 in net store closing costs. The results of fiscal
2000 were further impacted by the establishment of a $2,557,000
valuation allowance against the Company's net deferred tax
assets. In comparison, the Company reported a net loss of
$1,632,000 or $(0.22) per basic and diluted share for the fiscal
year ended January 1, 2000, which included $1,773,000 in
inventory markdown costs and $2,083,000 in net store closing and
development costs.

Net sales for the fiscal year ended December 30, 2000 decreased
to $75,646,000 from $128,478,000 during the same period a year
ago due to additional competition from national warehouse
retailers in the Company's markets and fewer Company stores. The
Company's gross profit percentage increased slightly to 26.5%
during the fiscal year ended December 30, 2000 from 26.2% during
the fiscal year ended January 1, 2000, though both periods were
negatively impacted by the aforementioned inventory liquidation
markdowns.

Store operating, general and administrative expenses decreased
to $26,506,000 during the fiscal year ended December 30, 2000
from $33,373,000 during the same period a year ago as the
Company continued to focus on expense management and benefited
from the cost reduction associated with operating fewer stores.
Additionally, other expenses, net decreased to $693,000 during
the fiscal year ended December 30, 2000 from $918,000 during the
fiscal year ended January 1, 2000 due to the reduction in
interest expense associated with the overall reduction in
borrowings between the two years.

As of December 30, 2000, the Company had reduced its outstanding
accounts payable balance to $1,775,000 from $4,573,000 as of
January 1, 2000 and had reduced total outstanding debt to
$5,168,000 from $5,599,000 as of January 1, 2000.

D.I.Y. Home Warehouse, Inc. operates nine warehouse format home
centers in the Northeast Ohio marketplace which sell products to
do-it-yourself home repair and remodeling customers and
contractors.


EINSTEIN/NOAH: Boston Chicken Trust Challenges Bidding Process
--------------------------------------------------------------
Einstein/Noah Bagel Corp.'s majority shareholder said the
bankruptcy court's decision to approve bidding procedures for
the company's assets and a $5 million breakup fee for stalking-
horse bidder Three Cities Research Inc. isn't appropriate and
should be reviewed by an appellate court. The trustee of Boston
Chicken Inc.'s reorganization plan trust said immediate review
of the bidding procedures/breakup fee order is "imperative"
because the court improperly approved the break-up fee without
requiring that the bagel store chain operator first properly
market its assets to maximize value. (ABI World, March 26, 2001)


ETOYS INC.: Scholastic Wins But Withdraws Bid for Inventory
-----------------------------------------------------------
Children's book publisher and marketer Scholastic Corporation
(Nasdaq: SCHL) won an auction Thursday to purchase the inventory
of eToys Inc., according to ABI World. The company has made a
contingent bid at $0.30 per dollar (totaling approximately $8
million) for said inventory. Reportedly, Scholastic topped more
than 30 bidders for the toy retailer's inventory. The sale is
subject to one condition - that it wins another auction this
Thursday for all of the stock of the reorganized company, ABI
World says. The court has scheduled the sale hearing for April
4, with objections due April 2.

However, Scholastic Corporation, after it completed its
previously announced evaluation of the possible discount
purchase of selected assets of eToys on Monday, concluded that
the acquisition of selected eToys assets did not meet
Scholastic's threshold for accelerating or reducing the costs of
its web initiatives. Consequently, Scholastic has not submitted
a bid for any eToys assets and will not be purchasing eToys
inventory.

Los Angeles-based eToys filed for chapter 11 bankruptcy
protection on March 7 and listed assets of $418.9 million and
liabilities of $285 million.

Scholastic is the world's largest publisher and distributor of
children's books. A global children's publishing and media
company serving the needs of parents, teachers, and children,
Scholastic provides proprietary book and software distribution
through school book clubs, school book fairs and to classrooms,
as well as through the retail trade. Since 1920, Scholastic has
created quality educational materials for schools and has
expanded its reach to include the distribution of books,
software, toys, online learning services and television
programming directly to the home. Scholastic recently acquired
Grolier, the leading print and online publisher of children's
reference materials and the leader in children's direct to home
book clubs. Internationally, Scholastic operates wholly owned
companies in Argentina, Australia, Canada, Hong Kong, India,
Indonesia, Malaysia, Mexico, New Zealand, The Philippines,
Singapore, Taiwan, Thailand and the United Kingdom. The U.S.
Scholastic web site http://www.scholastic.comis a leading
provider of educational services online for parents, teachers
and children.


FINOVA GROUP: Engages King & Associates As Claims Agent
-------------------------------------------------------
The FINOVA Group, Inc. said that the parties-in-interest in
these cases include customers, employees, taxing authorities,
bank lenders, bondholders, trade creditors and stockholders,
among others. They number well in excess of 1,000. All such
parties must be included in the noticing and claims process.
Neither the Clerk nor FINOVA has the equipment or staff to
docket and maintain the large number of proofs of claim that
will be filed.

FINOVA told the Court that the most effective and efficient
manner to handle proofs of claim is to engage an independent
third party to act as claims processing agent. 28 U.S.C. Sec.
156(c) gives the Court power to utilize outside agents provided
that Debtor pay the costs.

King & Associates is a firm specializing in claims management,
consulting and computer services. It has been engaged in this
business for over twenty years and is one of the pioneers of the
bankruptcy claims processing business. King & Associates has
considerable experience as a claims agent and has acted as the
official claims agent in numerous large cases including Ames
Department Stores, Continental Airlines and Storage Technology.
Even better, King & Associates is headquartered in Carefree,
Arizona, just a few miles away from FINOVA headquarters in
Scottsdale.

Specifically, King & Associates will:

      (a) Establish the address where all proofs of claims should
          be filed:

               FGI, Claims Administration Center
               P.O. Box 8980
               Scottsdale, Arizona 85252-8980;

      (b) Relieve the Clerk's Office of notice responsibility
          relating to the bar date and claims processing;

      (c) Assure the Court that it has the ability to notice,
          docket and maintain proofs of claims;

      (d) Furnish a bar date notice and proof of claim form to
          creditors;

      (e) Serve notices to creditors regarding meetings and
          deadlines;

      (f) File with the Clerk's Office a certificate of service
          which includes a copy of the notice served, a list of
          recipients and the mailing date;

      (g) Receive, docket, maintain, photocopy, and transmit all
          proofs of claim filed;

      (h) Maintain and protect the original proofs of claim;

      (i) Provide access to the claims without charge during
          regular business hours;

      (j) Make all original documents available to the Clerk's
          Office on an expedited, immediate basis;

      (k) Maintain a proof of claim docket in sequential order,
          which specifies the claim number, date received, name
          and address of claimant and agent, amount of claim and
          classification;

      (l) Transmit to the Clerk's office a copy of the register
          every month;

      (m) Maintain a mailing list for all entities that have
          filed a proof of claim;

      (n) Record all transfers of claims pursuant to rule 3001(e)
          and provide notice of the transfer;

      (o) Comply with applicable state, municipal and local laws
          and rules, orders, regulations and requirements of
          federal government departments and bureaus; and

      (p) Comply with further conditions as the Clerk's Office
          may prescribe;

In addition, FINOVA wants King & Associates to assist in
fulfilling claims related obligations including:

      (1) Assist with schedules of assets and liabilities,
          statements of financial affairs, schedule of executory
          contracts and unexpired leases;

      (2) Provide training and consulting support to manage
          claims reconciliation;

      (3) Assist with the objection process;

      (4) Assist with preparation, mailing and tabulation of
          ballots to the plan of reorganization;

      (5) Provide requisite notices throughout the Chapter 11
          proceedings; and

      (6) Any other administrative services requested by FINOVA.

On February 1, 2001, FINOVA made an advance payment to King &
Associates, to be applied to the final billing, of $20,000.
FINOVA requested authority to compensate King & Associates for
all services rendered and expenses incurred in connection with
the case.

King & Associates does not consider itself to be a
"professional" for purposes of the Bankruptcy Code. Therefore,
to reduce expenses, FINOVA proposed that the fees of King &
Associates be treated as an administrative expense and be paid
on a monthly basis.

FINOVA informed the Court that King & Associates meets the legal
definition of a "disinterested party." Claudia King, president
of King & Associates, and William Hallinan, at the time FINOVA
senior vice president, general counsel and secretary, signed the
agreement. (Finova Bankruptcy News, Issue No. 3; Bankruptcy
Creditors' Service, Inc., 609/392-0900)


FURRS SUPERMARKETS: Undergoes Senior Management Shake-Up
--------------------------------------------------------
Furrs Supermarkets Inc. announced that, current Chairman,
President, and CEO Tom Dahlen is to become President of Fleming
Companies Retail Operations. Effective immediately: Steven
Mortensen, presently Furrs' Chief Financial Officer, will assume
the position of President and Chief Operating Officer. As Chief
Financial Officer, Mr. Mortensen oversaw the corporate planning,
finance, accounting and management information systems areas of
Furrs. He joined Furrs in January 2000. Prior to that he was
Vice President - Finance and Controller of Ralphs Grocery
Company and has held positions of Vice President - Finance,
Assistant Controller, and Director of Finance at Ralphs and Food
4 Less Supermarkets.

In addition, the Company has retained George Golleher to provide
consulting and advisory services, and to also serve as Furrs'
Chairman of the Board. Mr. Golleher is a 28-year veteran of the
food industry and formerly served as President and Chief
Operating Officer of Fred Meyer, Inc. The Company will also
retain the consulting services of Greg Mays, who will serve as
Vice Chairman. Mr. Mays brings 26 years of industry experience
and was formerly the Executive Vice President for Ralphs Grocery
Company.

Mr. Dahlen stated, "While I am disappointed not to be able to
complete the work we started, I have every confidence in Steven
Mortensen and the rest of our management team. Additionally, I
am confident that the able guidance of George Golleher and Greg
Mays will be a tremendous asset to the management team in
achieving their objectives."

At the request of Furrs' Board of Directors, Mr. Dahlen has
agreed to provide services on an as-needed basis and therefore,
has been retained and will be available to provide such services
for a six-week period subsequent to April 6.

Gary Swenson of Furrs' Board of Directors, said, "We greatly
appreciate the hard work and contributions of Tom Dahlen over
the past one-and-a-half years. While we regret his departure, we
are very pleased to have such an experienced and accomplished
team in Messrs. Mortensen, Golleher and Mays at Furrs to guide
the Company through its reorganization process. All bring a
great deal of talent and experience to their new assignments.
Steven Mortensen's expertise in the grocery business, combined
with his financial acumen and knowledge of our company should be
extremely valuable during this crucial period."

On February 8, Furrs filed a voluntary petition for
reorganization under Chapter 11 of the U.S. Bankruptcy Code in
U.S. Bankruptcy Court for the District of New Mexico.

Headquartered in Albuquerque, New Mexico, Furrs is the state's
largest privately held company. Furrs operates 71 stores
throughout New Mexico and west Texas and employs approximately
5,000 people.


GEMKEY.COM: Taps Bid4Assets to Sell Computer Equipment Online
-------------------------------------------------------------
Bid4Assets, a leading full-service asset disposition firm
specializing in assets from distressed situations, announced
that it will auction excess assets from New York City-based gem
and jewelry Web site, Gemkey.com. The auction will include high-
end computer equipment including several servers. The online
auction closes Apr. 5.


HARNISCHFEGER: Joy Moves To Transfer Injury Claim To Delaware
-------------------------------------------------------------
On or about October 28, 1998 Larry Workman, David Ward, and
Rodger White filed a complaint against numerous defendants
including Joy Technologies, Inc. in the Circuit Court of
Jefferson County, Alabama. The Complaint stated that the
Plaintiffs were injured by an explosion on December 11, 1997 at
a mine known as Boone No. I Mine located in Maylene, Shelby
County, Alabama. Joy designs, manufactures, markets and sells
continuous mining machines. The Complaint alleged such a machine
was in use on the premises where the Plaintiffs were injured.

On May 22, 2000 the Plaintiffs and Joy entered into a
stipulation which modified the automatic stay to allow the State
Court Action to proceed.

Joy represented that since the Delaware Bankruptcy Court has
been involved in the administration of the bankruptcy case of
the Harnischfeger Industries, Inc. and is familiar with the many
issues in its reorganization process, it is the appropriate
court to efficiently deal with scheduling, discovery and all
other pre-trial matters that will arise prior to this Action
being tried in district court.

Moreover, the Plaintiffs have filed a claim against Joy as
manufacturer of the continuous mining machine and have appeared
through local counsel at the bankruptcy proceedings in Delaware.
Joy has a three million dollar self- insured retention on all
product liability claims and will therefore be responsible for
the first three million dollars of any reward of damages to the
Plaintiffs. Clearly, the outcome of this Action will affect the
Debtor's estate and the resolution of these claims will
therefore impact the Plan.

Accordingly, Joy sought an Order transferring the Action now
pending in the Alabama Court to the Delaware District Court, and
if this transfer is granted, for the Action to be subsequently
referred to the Delaware Bankruptcy Court. Joy believes that
referral of this matter to the Delaware Bankruptcy Court after
its transfer to the Delaware District Court will help to
centralize the resolution of claims and promote judicial
economy. (Harnischfeger Bankruptcy News, Issue No. 39;
Bankruptcy Creditors' Service, Inc., 609/392-0900)


HEDSTROM HOLDINGS: Seeks Order Extending Exclusivity To June 6
--------------------------------------------------------------
Hedstrom Holdings, Inc., et al. sought entry of an order further
extending the debtors' exclusive period to file Chapter 11 plans
for an additional 16 days, to and including March 23, 2001, and
the period to solicit acceptances of such plans for an
additional 30 days to and including June 6, 2001.

The debtors, their postpetition lenders and the official
committee of unsecured creditors have been engaged in
discussions in an attempt to reach a consensus on the terms of a
plan of reorganization that would be supported by these major
constituencies. The debtors claim that over the course of the
last several weeks, the open issues have been significantly
reduced, culminating in an agreement reached the evening of
March 5, 2001 between counsel for the Banks and the Committee.
The debtors intend to document the terms of the agreement in a
plan of reorganization for the debtors.

The requested extension will allow the debtors to revise their
currently drafted plan and disclosure statement and submit them
for review to the Banks and Committee prior to filing and in
sufficient time for the court to consider approval of the
disclosure statement at the scheduled April 25, 2001
omnibus hearing.

The debtors are represented by Richards, Layton & Finger, PA,
Wilmington, DE and Weil, Gotshal & Manges LLP, NY and Dallas,
Texas.


IFCO SYSTEMS: Moody's Lowers Senior Subordinated Notes to B3
------------------------------------------------------------
Moody's Investors Service lowered the ratings of IFCO Systems
N.V. Euro 200 million senior subordinated notes to B3 from B2.

Moody's also lowered the $235 million secured facility at PalEx,
a US-based wholly owned subsidiary of IFCO, to B1 from Ba2. The
senior unsecured issuer rating is B2 and the senior implied
rating was lowered to B1 from Ba3.

The downgrades reflect IFCO's inability to achieve returns on
its significant fiscal 2000 capital investments (round trip
container volume was over 30 million trips below expectations).

Profitability also suffered from poor expense management,
decentralized financial reporting, and corporate culture issues
with the integration of its largest acquisition to date, PalEx.
These have resulted in greater than anticipated financial
leverage, deterioration in interest coverage and the absence of
retained cash. Liquidity is tight given modest cushion on
revised covenants. The ratings reflect IFCO's weakened balance
sheet, namely thin capitalization and high level of intangibles
that are not yet supported by solid and consistent returns.

Furthermore, the ratings incorporate Moody's assessment of the
company's exposure to recessionary conditions throughout its
core markets (namely, North America and Europe), its ability to
effect pricing increases, and competition risk.

The ratings continue to reflect IFCO's leading global market
position in round-trip containers and the expectation of
continued gradual penetration into North American markets.

Also, it acknowledges current management's attempt to regain
control of operations, to focus on infrastructure, cost
controls, and quality improvements, and to sell the pallet
manufacturing business (approximately $169 million in pro-forma
2000 sales).

In Moody's opinion, IFCO's business fundamentals are sound, and
top line growth will likely continue at a reduced rate
throughout the intermediate term reflecting the increasingly
more difficult global operating environment.

The stability of the ratings hinges upon IFCO's ability to
stabilize operations, achieve its targets, and strengthen credit
statistics.

The downgrade of the secured facility rating to B1 from Ba2
reflects the deterioration in tangible asset coverage and the
overall reduction in enterprise value due to PalEx's strained
financial condition, on a stand-alone basis, and to IFCO's
weakened operations (guarantor).

At year-end last year, there was approximately $136 million of
senior secured exposure at PalEx. Availability is subject to a
borrowing base. At the time of Moody's review, IFCO was in
negotiation with its banks to restructure its facilities.

The B3 rating assigned to the senior subordinated notes reflects
their contractual and structural subordination to senior debt.
Moody's expects that during fiscal 2000, significantly reduced
growth in Europe will likely drive the reduction in
profitability.

It is likely that pro-forma EBITDA minus capital expenditures
will not be sufficient to fully cover pro-forma interest expense
for the LTM ended December 2000.

Moody's, however, expects capital expenditures to decline
significantly in the near term as the company absorbs the
excessive growth in crates from fiscal 2000.

Moody's anticipates that financial leverage for the period will
be high with pro-forma total adjusted debt (adjusted to include
accounts receivable securitizations at IFCO subsidiaries) to
EBITDA slightly above 5.0x.

IFCO Systems, based in Amsterdam, along with its US
subsidiaries, is a leading global provider of supply-chain
support services, with dominant positions in the RTC, pallet
manufacturing and recycling, and industrial container
reconditioning markets.


INDYMAC: Fitch Cuts Manufacturing Housing Notes To B From BB
------------------------------------------------------------
IndyMac Manufactured Housing Contract pass-through certificates,
series 1998-2, class B- 2 was lowered by Fitch to `B' from `BB'
and is placed on Rating Watch Negative.

The action reflects the deteriorating performance of the
underlying manufactured housing loans. Higher than expected
losses have resulted in principal shortfalls to the senior
certificates and a reduction in the amount of
overcollateralization (o/c).

As of the distribution date in February 2001, the
overcollateralization amount for series 1998-2 is equal to
$1,925,553.15 (1.22%). The original o/c target for series 1998-2
was equal to $4,016,250 (1.75%).

As of the February 2001 distribution date, the cumulative loss
percentage on series 1998-2 is 3.69%. The class A certificates
in series 1998-2 have Unpaid Certificate Principal Shortfalls
totaling $2,090,697 as of February 2001.

Although the company exited the manufactured housing origination
business in mid-1999, it continues to service its loans from
Pasadena where the company's mortgage loan servicing operation
is located.

During the past 12 months the level of repossessed homes has
increased at a considerably rapid pace. For series 1998-2, the
inventory of repossessed homes has grown from 3.86% at the end
of January 2000, to 6.21% for the period, ending on January
2001.

The lack of dealer relationships (as a result of exiting the
origination business) coupled with the oversupply of new and
repossessed homes in the marketplace, has put significant
pressure on recovery rates. As a result, there has been a
significant increase in losses over the past few months.


INTEGRATED HEALTH: Seeks Further Extension of 9027 Removal Time
---------------------------------------------------------------
Integrated Health Services, Inc. asked the Court to authorize,
pursuant to Rule 9006(b)of the Bankruptcy Rules, an extension of
the time within which they may file notices of removal of
related proceedings under Bankruptcy Rule 9027(a), from the
current deadline of April 2, 2001 through and including July 2,
2001.

Once again, the Debtors explained to the Court that they and
their professionals have not had sufficient time to fully review
and determine if all of the Pre-Petition Actions pending in the
courts of various states and federal districts should be removed
pursuant to Bankruptcy Rule 9027(a) because their attention has
been focused primarily on stabilizing the business,
administering the bankruptcy proceeding and developing a
business plan conducive to successful reorganization.

The Debtors believe that the extension will afford them an
opportunity to make fully informed decisions concerning the
removal of each Pre-Petition Action and will assure that they do
not forfeit the valuable rights afforded to them under 28 U.S.C.
section 1452.

Hearing will be conducted only if objections are filed by March
15, 2001. Mr. Robert S. Brady, attorney at Young Conaway
Stargatt & Taylor, LLP, the Debtors' Local Counsel, has filed a
Certification of No Objection to the Motion. (Integrated Health
Bankruptcy News, Issue No. 15; Bankruptcy Creditors' Service,
Inc., 609/392-0900)


LABELS FOR LESS: Clothes Retailer Files Bankruptcy Petition
-----------------------------------------------------------
Off-price designer clothing retailer Labels For Less filed for
bankruptcy protection and is considering a range of alternatives
from the sale of all or part of the retailer to liquidation,
according to Knight Ridder. R.P. McCoy Apparel, the holding
company of Labels For Less, had sales of $16.2 million during
its last fiscal year, compared with sales of $16.1 million the
year before. Designer brands Calvin Klein Jeans, Jones New York
Coats, August Silk and Harve Bernard are among the company's 20
largest creditors. (ABI World, March 26, 2001)


LASON INC.: John Messinger Steps Down As President/CEO/COO
----------------------------------------------------------
William C. Brooks, Chairman of LASON Inc., (OTC Bulletin Board:
LSON) announced that John Messinger has resigned his positions
as President, Chief Executive Officer and Chief Operating
Officer and Director of the Company, and that the Company is
initiating a search for a permanent replacement. Messinger will
serve as a consultant to LASON during the transition as his
services are needed.

Allen J. Nesbitt, a Director and former President of the Company
and its predecessor from its inception in 1985 until April 1997,
was appointed interim President and CEO by the Board of
Directors. He will serve until the search for a permanent
replacement is completed. Together, with Chief Financial Officer
Ronald Risher, Nesbitt will assume responsibility for the
Company's day-to-day operations.


LASON: Reports Accounting Irregularities in North American Units
----------------------------------------------------------------
LASON Inc. informed the U.S. Securities and Exchange Commission
and U.S. Attorney for the Eastern District of Michigan of
accounting irregularities and system deficiencies that affected
certain portions of the Company's financial statements. Some of
these items were material to LASON's financial statements for at
least the third quarter of 1999 and may also have been material
to statements for other periods. The irregularities and
deficiencies were found in accounting records of the Company's
North American operations.

A Special Committee of the LASON Board of Directors determined
that these irregularities and deficiencies may have occurred
during some periods between late 1997 and 1999. The Committee
also found that LASON's financial statements for at least the
third quarter of 1999 requires restatement. The extent of any
restatements has not been quantified and will be further
evaluated by the Company with assistance from its outside
auditors. The Committee does not believe that any such
irregularities have extended beyond the first half of 2000.

LASON Chairman, William Brooks, commented: "We have confidence
in the management team to take this Company forward.
Management's top priority is to stabilize and enhance the
Company's financial performance and continue our focus on our
core business. We look forward to the support and cooperation of
our lenders, customers and employees, all whom have a vested
interest in the financial turnaround of this Company."

About the Company

LASON is a leading provider of integrated information management
services, transforming data into effective business
communication, through capturing, transforming and activating
critical documents. LASON has operations in the United States,
Canada, Mexico, India, Mauritius and the Caribbean. The Company
currently has over 85 multi-functional imaging centers and
operates over 60 facility management sites located on customers'
premises. LASON can be found on the World Wide Web at
http://www.lason.com


LERNOUT & HAUSPIE: Wants More Time To Assume/Reject Leases
----------------------------------------------------------
Lernout & Hauspie Speech Products N.V. and its affiliated
debtors sought entry of an order extending the deadline on or
before which the L&H Group must assume, assume and assign or
reject all unexpired nonresidential real property leases for an
additional ninety days, until and including June 29,2001.

At present the L&H Group has identified 190 leases, which relate
to corporate offices, storage facilities or consolidated
warehouse and office facilities.

The efforts of the L&H Group and its professionals have been
focused on intricate and volatile issues:

      * Securing and implementing long-term post-petition
        financing from Albeco Finance (approved on February 20,
        2001);

      * Assessing the role of certain foreign subsidiaries in the
        overallreorganization plan;

      * Resolving issues relating to the appointment of separate
        creditors' committees; and

      * Addressing issues raised by a motion seeking the
        appointment of a trustee.

Without the extension of time, the L&H Group risks prematurely
and improvidently assuming leases that the L&H Group could later
discover to be burdensome, possibly creating uncapped
administrative claims against the estates.


LOEWEN GROUP: Settles Employment Termination Claims
---------------------------------------------------
Prior to the termination of their respective employment
positions with The Loewen Group, Inc. in 1998, Sheldon Mitchell
served as a regional manager overseeing several different LGII
locations in Oklahoma, including Arlington Memory Gardens, and
Marlisa Camerer served as a sales manager there.

On February 1, 1999, the Claimants filed a Joint Complaint
against LGII in the District Court for the Northern District of
Oklahoma alleging various civil rights and constructive
discharge violations stemming from the termination of their
respective employment arrangements with LGII.

In respect of the allegations set forth in the Joint Complaint,
Mitchell filed two identical proofs of claim against LGII (Claim
No. 1216 and Claim No. 7568) in LGII's chapter ii case. Camerer
also filed two identical proofs of claim against LGII in respect
of the allegations set forth in the Joint Complaint. (Claim No.
1262 and Claim No. 7569).

On March 10, 2000, the Debtors sent an ADR Notice to the
Claimants advising them that their claims would be resolved
pursuant to the ADR Procedures. In the ADR Notice, the Debtors
also instructed the Claimants that, pursuant to the ADR
Procedures, they were required to submit an offer of settlement
to the Debtors in respect of their claims. The Claimants
returned the ADR Notice and offered to settle their respective
claims for $1,000,000 per claim. The Debtors declined to accept
the Claimants' ADR Settlement Offer.

After a period of active negotiation, the Claimants and the
Debtors have agreed, pursuant to the terms of the Settlement
Agreements and subject to this Court's approval, to resolve the
Proofs of Claim and all other disputes between the Claimants and
the Debtors.

               Mitchell Settlement Agreement

Pursuant to the terms of the Mitchell Settlement Agreement:

      (1) Mitchell will have an allowed unsecured nonpriority
claim in the amount of $150,000 against LGII's chapter 11 estate
in full satisfaction of any and all liability arising in
connection with the subject matter of the Mitchell Settlement
Agreement, the Mitchell Proofs of Claim and the Joint Complaint.

      (2) Mitchell will grant to the Debtors, any affiliates of
the Debtors and any insurer of the Debtors a complete release
from any and all liability associated with the subject matter of
the Mitchell Settlement Agreement, the Mitchell Proofs of Claim
and the Joint Complaint.

      (3) Mitchell will not commence any lawsuit or any other
legal proceeding against the Debtors in connection with any
claims arising out of or related to the subject matter of the
Mitchell Settlement Agreement and the Mitchell Proofs of Claim,
and, jointly with Camerer, will file a motion and take such
other action as is necessary to dismiss the Joint Complaint with
prejudice.

      (4) In the event that Mitchell breaches the Mitchell
Settlement Agreement, he will hold the Debtors harmless and
indemnify them for any losses or damages arising from the breach
of the Mitchell Settlement Agreement.

               Camerer Settlement Agreement

Pursuant to the Camerer Settlement Agreement:

      (1) Camerer will have an allowed unsecured nonprionty claim
in the amount of $250,000 against LGII's chapter 11 estate in
full satisfaction of a any and all liability arising in
connection with the subject matter of the Camerer Settlement
Agreement, the Camerer Proofs of Claim and the Joint Complaint.

      (2) Camerer will grant the Debtors, any affiliates of the
Debtors and any insurer of the Debtors a complete release from
any and all liability associated with the subject matter of the
Camerer Settlement Agreement, the Camerer Proofs of Claim and
the Joint Complaint.

      (3) Camerer will not commence any lawsuit or any other
legal proceeding against the Debtors in connection with any
claims arising out of or related to the subject matter of the
Camerer Settlement Agreement and the Camerer Proofs of Claim,
and, jointly with Mitchell, will file a motion and take such
other action as is necessary to dismiss the Joint Complaint with
prejudice.

      (4) In the event that Camerer breaches the Camerer
Settlement Agreement, she will hold the Debtors harmless and
indemnify them for any losses or damages arising from the breach
of the Camerer Settlement Agreement.

Thus, the Debtors sought the Court's authority, pursuant to
Bankruptcy Rule 9019, to enter into the Settlement Agreements.
(Loewen Bankruptcy News, Issue No. 35; Bankruptcy Creditors'
Service, Inc., 609/392-0900)


LOUISIANA-PACIFIC: Moody's Cuts Senior Debt Rating To Baa3
----------------------------------------------------------
More than a billion of debt securities were affected after
Moody's Investors Service downgraded the senior unsecured debt
ratings of Louisiana-Pacific Corporation to Baa3 from Baa1.

The ratings actions reflect a higher level of debt, a
significant decline in the company's operating cash flow, a weak
outlook for the company's core products of lumber and panel
board, and the expectation that debt measurements will, on
average through the cycle, be weaker than originally
anticipated.

The revised ratings also reflect, however, the potential of the
company to generate significant free cash flow during periods of
strong oriented strand board pricing (OSB), and the company's
position as the largest producer of OSB in North America. This
ratings action concludes a review begun on February 1, 2001.

Ratings downgraded are:

      -- Senior unsecured bank debt; to Baa3 from Baa1

      -- Senior unsecured shelf registration; to Baa3 from Baa1

      -- Senior unsecured notes; to (P)Baa3 from (P)Baa1

Louisiana-Pacific's operations are highly concentrated in
building materials, and the company experiences significant
volatility in earnings and cash generation related to the price
cyclicality of its core products (particularly OSB).

Over-capacity in OSB, combined with weaker levels of demand for
building products, in general, has resulted in severely
depressed prices over the past six months.

Louisiana-Pacific's financial performance has been significantly
worse than previously anticipated, and the company has been
forced to increase borrowings over the past six months, Moody's
relates.

In addition, the outlook for prices remains relatively weak, and
analysts at Moody's do not expect debt protection measurements
to improve much over the near term.

Analysts believe that the company could experience a net loss,
for the year, of between $100 - 150 million. The outlook for the
ratings is negative.

Louisiana-Pacific will need to carefully manage working capital
and capital expenditures during the year to maximize available
liquidity.

The company currently has approximately $200 million in
available liquidity in unutilized bank facilities, which Moody's
believe will be sufficient to fund cash needs through the
current industry downcycle.

However, the company is subject to various bank covenants
(particularly a 55% debt to capital ratio) which could restrict
availability if the company uses cash at a faster than
anticipated rate, or continues at current performance levels for
a long period of time.

If pricing for the company's core products remains weak for a
prolonged period of time, or if the company is unable to
minimize its cash outflow during the current industry downturn,
liquidity pressure will become more pronounced, and further
downward revisions to the ratings could occur.

Louisiana-Pacific, headquartered in Portland, Oregon, is a major
building products company with manufacturing facilities
throughout the U.S., Canada, and Ireland.


MARCHFIRST: Ceases Unit's Operations & Considers Selling Assets
---------------------------------------------------------------
MarchFirst, is ceasing operations of its year-old venture
capital arm, Bluevector, according to CNET News.com. MarchFirst
owned 50 percent of the company but wrote off the remainder of
its investments in the fourth quarter. "We no longer have
involvement in Bluevector," said Kelly Miller, a spokeswoman for
the Chicago-based web consultancy. "We are focused on our core
business." The cash-strapped company, which has been weighing
several financing options, is struggling to find a new leader
following the departures of its chief executive officer, chief
operating officer and executive vice president. The company has
until April 16 to settle a loan valued at about $53 million with
American National Bank and Trust. Analysts have said that
MarchFirst will seek a buyer for all or parts of its assets.
(ABI World, March 26, 2001)


MARINER: Court Approves Amendments to DIP Credit Agreement
----------------------------------------------------------
The Health Debtors in the Mariner Post-Acute Network, Inc.
bankruptcy case sought and obtained the Court's approval for
entry into the Eighth Amendment To Debtor-In-Possession Credit
Agreement, which provides for, among other things,

      (1) an extension of the maturity of the DIP Agreement of
six months to July 19, 2001, and

      (2) an extension of the consensual use of the cash
collateral of the Prepetition Senior Secured Lenders, also
through July 19, 2001.

The Eighth Amendment also provides that:

      (a) the total commitments under the DIP Agreement shall be
reduced to $25 million;

      (b) the Debtors shall pay to the DIP Agents and the other
debtor in possession financing lenders an amendment fee totaling
$250,000 (1% of the reduced commitment) and a Utilization Fee at
a rate of 0.25% per annum, payable monthly, if and to the extent
that any outstanding loans exceed $5 million.

The Debtors represented that because they will not be able to
confirm a plan of reorganization before the January 19, 2001
Commitment Termination Date, they must extend their use of the
Prepetition Senior Secured Lenders' cash collateral, and also
the DIP Agreement in order to continue to receive the
substantial benefits of their debtor in possession financing
facility during these cases.

The Debtors also explained to the Court that the continuation of
the DIP financing facility is critical to their continued
operations and reorganization efforts because:

      (1) continued use of cash collateral is critical for
maintaining patient health and assist with activities of daily
living on an uninterrupted basis;

      (2) any interruption in their use of cash collateral would
cause great concern for their suppliers, patients, employees,
and government regulators, and its negative effect on Mariner
Health's estates may be irreparable.

      (3) the existence of the facility has been critical for,
among other things:

          (a) enabling the Debtors to obtain letters of credit,
              including those necessary to maintain insurance,

          (b) encouraging the provision of trade credit by
              hundreds of critical vendors;

          (c) reassuring federal and state regulators that the
              Debtors will have the financial resources to
              maintain their operations and provide critical
              patient care;

          (d) providing adequate assurance of payment for utility
              providers and for parties to assumed contracts;

          (e) reassuring employees and patients of the company's
              continued viability; and

          (f) continuing to provide adequate protection to and
              obtaining the consent of the Prepetition Senior
              Secured Lenders to use their cash collateral.

Moreover, the continued existence of DIP Agreement provides the
estates and their creditors with the assurance that financing
will be available if and when the Debtors need it, including at
a time when the Debtors might otherwise not be able to obtain
such financing.

The Debtors also asserted that the relief is well justified
because they have made substantial progress toward achieving
their goal of reorganization but still have much to do. In this
regard, the Debtors reiterate that they have

      (1) stabilized their business operations and improved their
financial performance;

      (2) divested various unprofitable or unnecessary business
lines and other assets through sales and lease rejections;

      (3) obtained requisite approvals of the assignment of
provider agreements to third party purchasers, thus enhancing
the Debtors' ability to transfer the business operations;

      (4) implemented an interim management arrangement between
the Debtors and MPAN;

      (5) negotiated settlements with various personal property
lessors;

      (6) filed schedules, established a claims bar date, and
implemented procedures (including alternative dispute
resolution) to resolve disputed claims and relief from stay
motions pending against the Debtors;

      (7) negotiated settlements; and

      (8) negotiated a new food distribution arrangement for the
Debtors' facilities.

With respect to obtaining an alternative source of financing,
the Debtors pointed out that any alternative lender that would
not have an existing lending relationship with the Debtors would
be required to conduct significant due diligence with respect to
the Debtors' assets and reorganization prospects, would charge
substantial, additional due diligence and commitment fees. The
due diligence and negotiation process for a new lender, the
Debtors said, would divert the attention of the MPAN management
and professionals from their reorganization efforts.

Because of the existing relationships among the DIP Agents, the
Prepetition Senior Secured Lenders, and the debtor in possession
financing lenders, extension of the DIP Agreement avoids many of
the potential conflicts that new financing would entail,
including priming and the nonconsensual use of the Prepetition
Senior Secured Lenders' cash collateral. Thus, the Debtors
conclude that it would not be feasible or beneficial to obtain
an alternative source of financing.

Except as provided in the Eighth Amendment, the terms of the DIP
Agreement and the Final Order will be unchanged. (Mariner
Bankruptcy News, Issue No. 13; Bankruptcy Creditors' Service,
Inc., 609/392-0900)


MAXICARE HEALTH: Posts Increasing Net Losses for Q4 and FY 2000
---------------------------------------------------------------
Maxicare Health Plans Inc. (Nasdaq:MAXI) reported its operating
results for the fourth quarter and fiscal year ended Dec. 31,
2000.

For the fourth quarter of 2000, the company reported a net loss
of $52.5 million, or $1.21 per share (basic and diluted),
compared with a net loss of $6.9 million, or $0.38 per share
(basic and diluted), for the fourth quarter of 1999. Per share
figures reflect the issuance of 30.8 million shares of stock
during the fourth quarter of 2000.
After giving effect to the previously announced one-for-five
reverse split, which is to become effective on or about March
28, 2001, the loss per share was $6.05 per share for the fourth
quarter of 2000 and $1.90 per share for the fourth quarter of
1999.
Fourth-quarter 2000 results reflect an $18.2 million non-cash
charge associated with the write off of deferred tax assets; a
$7.2 million charge resulting from an increase in the allowance
for premiums receivable, accounts receivable and prepaid items;
$4.6 million in consulting and related expenses for
infrastructure improvements; an $800,000 charge for management
severance costs; and an operating loss of $700,000 related to
the company's Indiana Medicare operations, which were terminated
as of Dec. 31, 2000.

Increased reserves for provider insolvencies, provider network
restructuring costs in Indiana, and litigation amounted to an
additional $5.8 million in expense for the quarter.

Total premium revenues for the fourth quarter of 2000 decreased
1.9% to $176.2 million, compared with $179.5 million in the
fourth quarter of 1999. Commercial premiums for the 2000 fourth
quarter decreased 0.4% to $105.2 million, compared with $105.6
million last year. The average commercial premium per member per
month rose 8.0% in the fourth quarter, as compared to 1999.

Medicaid premiums decreased 10% to $42.9 million due to a
decrease in membership, offset in part by a 5.0% increase in the
average Medicaid premium per member per month. Medicare premiums
for the quarter increased 7.0% to $28 million.

The company continued to invest in the personnel and information
technology required to improve and modernize Maxicare's
operations in the fourth quarter. Marketing, general and
administrative (MG&A) expenses increased 66.1% to $28 million,
compared with $16.9 million in the fourth quarter of 1999. MG&A
expenses, as a percentage of total premium revenues, increased
to 15.9%, compared with 9.4% for the fourth quarter of 1999.

For the year ended Dec. 31, 2000, the company reported a net
loss of $64.9 million, or $2.65 per share (basic and diluted),
as compared to a net loss of $12.3 million, or $0.68 per share
(basic and diluted), in 1999. After giving effect to the one-
for-five reverse split, the loss per share was $13.25 per share
for 2000 and $3.40 per share for 1999.

In addition to the previously mentioned $18.2 million deferred
tax charge, year 2000 results of operations included an $8.1
million charge resulting from an increase in the allowance for
premiums receivable, accounts receivable and prepaid items;
losses of $1.4 million at the company's Louisiana HMO, which was
sold effective Aug. 1, 2000; losses of $1.0 million from its
Indiana Medicare operations, which were terminated as of Dec.
31, 2000; and $800,000 for management severance costs.

Reserves for provider insolvencies, provider network
restructuring costs in Indiana, and litigation amounted to $15.1
million in expense for the year 2000. Consulting and other
expenses associated with the company's various infrastructure
initiatives contributed approximately $7.3 million to general
and administrative expense.

Total premium revenues for 2000 increased 2.9% to $725.3
million, as compared to $705.0 million in 1999. Commercial
premiums increased 3.9% to $428.7 million, compared with $412.5
million last year. The average commercial premium per member per
month rose 8.3% as compared to 1999. Medicaid premiums decreased
11.3% to $178.6 million in 2000, due to a decrease in membership
that was offset in part by a 7.5% increase in the average
Medicaid premium per member per month. Medicare premiums for
2000 increased 29.3% to $118.0 million.

MG&A expenses increased 28.6% to $82.3 million for the year
2000, compared with $64.0 million last year. MG&A expenses as a
percentage of premium revenues increased to 11.3%, compared with
9.1% for the prior year. The medical loss ratio for the year
2000 was 94.9%, compared with 92.5% for 1999.

                    Operational Milestones

"Six months into our two-year initiative to reinvent Maxicare to
meet the challenges facing managed health care in the 21st
century, we can report both significant progress and continuing
challenges," said Paul Dupee, chairman and CEO of Maxicare. "In
the fourth quarter, we completed two financings that infused $30
million in new equity capital into the company, allowing us to
strengthen statutory reserves in our regulated businesses.
"We also completed the first major milestone in rebuilding our
information technology systems, establishing connectivity that
will be the basis for automation and productivity enhancements
in 2001. We improved claims payment processes in Medicare and
Medicaid, which should have a favorable impact on our medical
loss ratio in those businesses going forward. And we have
continued to improve our service levels and market position in
California, which has resulted in membership growth in these
markets.

"At the same time, we have experienced several adverse events
that have impacted our financial performance in the fourth
quarter and pose challenges in 2001," Dupee continued. "The
insolvency of KPC Medical Management in the fourth quarter has
increased the cost of medical services to our members in
affected parts of California.

"In January of 2001, enrollment in our Indiana commercial plan
declined by 20% from approximately 105,000 lives to 85,000
lives, due to provider network difficulties. Enrollment in
Indiana Medicaid declined from approximately 65,000 lives to
approximately 11,000 lives, when one of our subcontractors
became a direct provider to Maxicare's customer base.
"Despite these challenges, we believe that we have laid the
groundwork to improve Maxicare's competitiveness and achieve
profitability in the future. We have already addressed many of
the most difficult operational issues, and, most importantly,
have assembled a motivated management team that is committed to
applying best practices in order to generate value for our
stockholders."

                    Strategic Plan for 2001

Dupee outlined Maxicare's strategic plan to improve financial
results in 2001 and set the stage for continued growth going
forward. Elements of this plan include:

     --  Recent workforce reductions in Indiana to reflect
         reduced membership levels;

     --  Streamlining Maxicare's corporate structure to eliminate
         duplication and simplify reporting and administrative
         functions;

     --  Price increases on health plan business that renewed in
         January 2001, along with more disciplined underwriting
         and pricing practices;

     --  Improving approval and claims payment processes in the
         commercial business to bring Maxicare's cost of health
         care into line with industry norms;

     --  Phased roll out of best-in-class networked IT systems to
         control medical costs and increase productivity;

     --  Automating many routine transactions and requests with
         members, providers and physicians to reduce errors and
         enhance customer service levels; and

     --  Improving relationships with health-care providers by
         speeding reimbursement and improving responsiveness to
         their concerns.

"In 2000 we charted a new course for Maxicare; in 2001 we will
mark the milestones, as these improvements begin to roll out
across our lines of business," said Susan Blais, executive vice
president and chief operating officer. "These actions are
designed to improve our customer service levels, strengthen
provider relationships, and provide us with the operational
flexibility, process excellence and knowledge base to embrace
growth opportunities that exist in our markets."

Dupee noted that based on the benefits of improved cost
controls, increasing premiums, and modest growth in California
commercial and Medicare plans, Maxicare anticipates achieving
profitability in the second half of 2001.

"By the end of 2001, Maxicare will have built the
infrastructure, expertise and relationships required to be a
competitive, viable and profitable player in the rapidly
evolving managed health field. We believe that these actions,
combined with the recently more favorable pricing environment,
will allow us to bring our health-care costs into line and build
a platform for growth in the future," said Dupee.

"With respect to the write off of our deferred tax asset,
although it was deemed appropriate at this time to write off
this intangible asset, we fully expect that we will be in a
position to take advantage of our substantial tax loss
carryforward as we return to profitability," concluded Dupee.

                    About Maxicare

Maxicare Health Plans Inc., with headquarters in Los Angeles, is
a managed health-care company with operations in Indiana and
California. In August 2000, Maxicare received the status of
Accredited from the National Committee for Quality Assurance
(NCQA) for its California HMO product and California Medicare
HMO Plan.

In May 2000, Maxicare received the NCQA status of Commendable
for its Indiana Medicare, Medicaid and Commercial HMO Plans.
NCQA is an independent, nonprofit organization dedicated to
measuring the quality of managed care organizations nationally.
Maxicare has been serving the health-care needs of families
through managed health-care plans since 1973. Maxicare offers a
variety of health programs including various employee benefit
packages through its subsidiaries, Maxicare Life and Health
Insurance Co. and HealthAmerica Corp.


MMH HOLDINGS: Wants To Extend Exclusive Period To May 24
--------------------------------------------------------
MMH Holdings, Inc., et al. sought a court order extending the
debtors' exclusive period to solicit votes on a plan of
reorganization by approximately sixty days through and including
May 24, 2001. The hearing to consider approval of the Disclosure
Statement was scheduled for March 23, 2001, and the debtors are
attempting to obtain a commitment for post-bankruptcy financing
and to negotiate modifications to the plan and Disclosure
Statement.

The extension would provide the debtors with sufficient time to
formulate modifications to the plan acceptable to the debtors'
various creditor constituencies and to solicit acceptances of
the plan. Accordingly the debtors seek an extension of the
exclusive period to comport with the realities of the debtors'
considerable reorganization process.

The debtors are working with their professionals, the Creditors'
Committee and their pre and post-petition secured lenders to
negotiate a reorganized plan in light of the debtors' current
business operations and financing capacity. Thereafter the
debtors shall seek approval of the disclosure statement and will
seek acceptances of the plan.

The debtor claims that the proposed extension is justified due
to the large size and complexity of the debtors' affairs. The
debtors consist of fourteen entities, the debtors have thousands
of trade creditors and employ approximately 1,100 individuals
for their domestic operations, and maintain numerous bank
accounts and a wide variety of business relations with parties
all over the world.

Co-counsel to the debtors are Klett Rooney Lieber & Schorling
and Proskauer Rose LLP.


NAMIBIAN MINERALS: Secures $25MM Funding To Restart Operations
--------------------------------------------------------------
Namibian Minerals Corporation (NAMCO) (Nasdaq: NMCOF)has raised
approximately US$9.4 million from a private placement of
securities which will enable it to commence the discharge of
several subsidiary companies from provisional liquidation and to
resume diamond mining operations off the Namibian coast. In
addition, the Company has entered into an agreement with the
Leviev Group of Israel, which will invest US$15 million into the
Company.

Namco's Chairman and CEO Alastair Holberton said: "We are
delighted to have secured financing to put our business back
together and to deploy the world's most advanced production and
exploration technology on our prospective Namibian concessions."
Canaccord Capital Corporation has sold to investors outside
Canada through Canaccord Capital (Europe) Limited 9.5 million
Special Warrants for proceeds of US$3.1 million and US$6.3
million principal amount of 10% Special Notes with a term of two
years, for gross proceeds of US$9.4 million. Each Special
Warrant is exchangeable for one common share for no additional
consideration. Similarly, Special Notes are exchangeable for a
like principal amount of Convertible Debentures which are in
turn convertible into common shares at US$0.33 each. If a
prospectus has not been filed by the Company within 90 days to
qualify the issuance of common shares and Convertible Debentures
on exchange of the Special Warrants and Special Notes, an
additional 10% of the common shares otherwise issuable on
exchange or conversion of the Special Warrants and Convertible
Debentures will be issued, subject to shareholder approval.
While the Special Notes and Convertible Debentures are
outstanding, the holders can appoint two directors of the
Company. Both the Special Warrants and the Special Notes have a
half warrant attached with each full warrant exercisable,
subject to shareholder approval, over three years at US$0.40
(C$0.60) per share. In the case of the Special Notes one-half
warrant is granted for every US$0.33 of principal amount of
Special Note. Canaccord was paid a corporate finance fee of
US$280 000 payable in 850 000 shares of the Corporation.

In addition, the Leviev Group has agreed to subscribe to US$15
million of Namco's common shares, with half warrants attached,
subject to contract, shareholder, regulatory and stock exchange
approval, as follows: 22.7 million shares at US$0.33 per share
for proceeds of US$7.5 million with a one-half warrant per share
purchase, exercisable at US$0.40 per share and 15 million shares
at US$0.50 per share for proceeds of US$7.5 million, with a one-
half warrant per share purchase, exercisable at US$0.50 per
share. The Warrants will be exercisable over three years.

The Leviev Group, founded by Mr. Lev Leviev, is the world's
largest diamond manufacturer with diamond polishing plants,
marketing agencies and other diamond activities around the
world. The Group's annual turnover exceeds US$1.5 billion. Last
year, the Leviev Group formed Ascorp, a joint venture with the
Angolan government, which exclusively markets Angola's
legitimate diamond production, estimated at almost US$1 billion
per annum.

Under the terms of the Namco Agreement, the Leviev Group will
acquire an exclusive 15 year marketing right to Namco's
production. The Leviev Group has agreed to buy all production at
open market world prices with Namco retaining the right for
independent pricing control via a price checking mechanism. The
Leviev Group will become the controlling shareholder in the
Company, with an effective interest of approximately 31% prior
to the exercise of any warrants, and will appoint two Board
members in addition to the Canaccord appointments.

"This transaction is the first step in establishing a mutually
beneficial relationship between the Leviev Group and Namco. They
bring outstanding marketing expertise and financial resources,
while Namco brings operating know-how, engineering excellence
and its position in Namibia," said Mr. Holberton.

Mr. Arye Barboy, Investment and Development Director of the
Leviev Group, said, "The Leviev Group is delighted to become a
major shareholder in Namco and is committed to its promising
future in offshore diamond development".

The new funding of approximately US$25 million will allow the
Company to:

     -- Restart mining operations and exploration activities.
     -- Take its operating companies out of provisional
        liquidation.
     -- Rebuild the NamSSol mining system, damaged in January
        this year, while continuing to pursue its insurance
        claim.
     -- Reduce the Company's outstanding creditor position.
     -- Provide working capital.

To further improve Namco's financial position and in recognition
of the disruption to production and cash flow from the loss of
its NamSSol mining system, the Company's bankers have agreed to
a capital repayment moratorium until the end of September and
have committed to working with the Company to reschedule its
debt repayments at the end of September. The MV Ivan Prinsep,
Namco's least efficient and least productive vessel equipped
with airlift technology, has been sold for approximately US$4.4
million to reduce the Company's debt position. In addition, a
group of creditors with claims valued at US$6 million has agreed
to a 12 months moratorium on repayment. Led by South African
engineering companies, this initiative demonstrates Namco's
importance in the local industry and economy.

The Company expects to resume mining operations in the coming
weeks and will announce a revised operating plan shortly. On
Friday afternoon the vessel owners of MV Ya Toivo, Kovambo and
Zacharias were paid outstanding charter fees, which should
secure all vessels for future operation. It is expected that MV
Ya Toivo, equipped with the new Nam 2 mining system, will be the
first vessel back in operation. This vessel is by far the
largest in Namco's fleet and is expected to be the principal
source of diamond production this year.

The Namibian Minister of Mines, the Honourable Jesaya Nyamu, has
confirmed the good standing of Namco's mining and exploration
licences. Furthermore, he expressed his support for the Leviev
Group's involvement in Namco by stating: "We recognise Mr.
Leviev's worldwide reputation in diamond cutting and polishing
and we consider a strategic alliance would complement the
development of the Namibian diamond industry."

Alastair Holberton said: "The support and involvement of the
Namibian Government, the Leviev Group and other stakeholders is
an endorsement of Namco's success in developing unique
technology to operate off the Namibian coast. We are now working
on a recovery plan and look forward to resuming mining
operations as soon as possible."

The Company will be sending a notice out shortly to fix the time
and the date of the shareholders' meeting to consider the
matters described above which require shareholder approval. The
meeting will be held on 25 April 2001.


NETWORK CONNECTION: Files Chapter 11 Petition in Pennsylvania
-------------------------------------------------------------
Network Connection Inc., a unit of Global Technologies Ltd.,
filed for Chapter 11 bankruptcy protection with the U.S.
Bankruptcy Court for the Eastern District of Pennsylvania, tells
Reuters.

The Philadelphia-based company said that it would continue to
maintain its assets and operate its businesses. No company
official was available for further comments or details, the news
agency said.

Meanwhile, Nasdaq disclosed that it had halted trading Network
Connection stocks in order to receive "additional information."
Trading will remain halted until the company has fully satisfied
the request for additional details. Shares in Network Connection
fell 1/32 to 9/32 during afternoon trading, Monday.

Network Connection, Inc. is a developer of broadband
entertainment, information and e-commerce systems.


ORBCOMM GLOBAL: Seeks To Convert Bankruptcy Case to Chapter 7
-------------------------------------------------------------
According to documents obtained by BankruptcyData.com, Orbcomm
Global, L.P. filed an emergency motion seeking U.S. Bankruptcy
Court approval to use deposit forfeited pursuant to a bidding
procedures order and converting the cases to Chapter 7
liquidation status. The Company filed for Chapter 11 protection
on September 15, 2000. (New Generation Research, 26-Mar-2001)


OWENS CORNING: Newcourt Asks For Relief From Automatic Stay
-----------------------------------------------------------
On July 30, 1999, Owens Corning signed an equipment lease to
Contractor's Finance Corporation. The Lease was for a pre-owned
Hitachi EX200LC-1 Excavator. The Debtor agreed to pay rental of
$52,999.61, payable in two advance rental payments of $1,127.63
each and 45 rental payments of $1,127.63, each due on the same
day of each successive month commencing August 1, 1999. The
lease was later assigned to Newcourt by virtue of an Assignment
Without Recourse.

At the Petition Date, the Debtor was in possession of the
excavator, but is currently in default due to its failure to
make payments when due. The Debtor is two months in arrears
post-petition and two months in arrears pre-petition, for
a total arrearage figure of $4,406.20 as of October 3, 2000,
plus accrued and accruing interest, late charges, attorneys'
fees, costs, and expenses.

In relevant part, the Equipment Lease agreement contained
provisions which say that the Lessee is deemed to be in default
if any event of default occurs, such as:

      (1) The lessee defaults in any payment required to be made
by the lessee under the lease when such payment is due and
payable;

      (2) If the lessee becomes insolvent or ceases to do
business as a going concern;

      (3) A petition in bankruptcy or under any other insolvency
law or for arrangement or reorganization is filed by or against
the lessee; or

      (4) Whenever the holder of the lease in good faith believes
the prospect of payment or performance under the lease is
impaired or in good faith  believes the leased property is
insecure.

In the event of default, the equipment lease provides that the
holder may, subject to limitations imposed by law and the
lessee's right to cure, declare the total of the payments due
under the lease, including any unpaid rentals for the remaining
term of this lease, immediately due and payable. In addition to
any other rights or remedies provided by law, the holder of the
lease may take possession of the equipment wherever found,
without notice, and may sell the equipment at public or private
sale, with or without notice. The Debtor waived any claims or
damages for such taking.

As a result of the Debtor's default, the full amount of the
indebtedness has become due. The principal amount totals in
excess of $37,100.84 plus accrued interest, accrued late
charges, attorney's fees and other costs and expenses.
Newcourt is not being paid for these amounts. The Debtors'
failure to pay the amounts due has increased and will continue
to increase the difference between the sums owed to Newcourt and
the value of the collateral securing the sums.

Robert L. Kline, III and Kathleen Miller, representing Newcourt
Financial U.S.A., Inc., asked Judge Peter Walsh to lift the
Automatic Stay in order to allow Newcourt to take possession of
and sell the Collateral which is subject to the Newcourt's
security interest pursuant to the Equipment Lease agreement. In
the alternative, Robert L. Kline, III asked Judge Walsh to
require the Debtor to provide Newcourt with adequate protection
of its interest in the Collateral which is subject to Newcourt's
lien.

Mr. Kline said that based on his information and belief, the
Collateral is not being used by the Debtor, and that the Debtor
has vacated the business premises where the Collateral is used
and kept. Mr. Kline told Judge Walsh that the Collateral is not
being adequately and properly maintained or protected against
loss and secretion. Thus the Collateral is losing and will
continue to lose value.

Newcourt does not have adequate protection of its interest in
the Collateral nor are the Debtors able to provide such adequate
protection to Newcourt.

Kline believes that Newcourt has all the rights and remedies of
a secured party under the provisions of the Equipment Lease
agreement and the Uniform Commercial Code. Newcourt's rights
include the right to take possession of the Collateral.

Mr. Kline told Judge Walsh that Newcourt has been and continues
to be irreparably injured by the automatic stay which prevents
Newcourt from enforcing its rights. Kline said that there is
"cause" to terminate, annul, or modify the Automatic Stay to
allow Newcourt to exercise its rights under the terms of the
Lease. These constitute "cause":

      (A) The Collateral now has a value less than the debt due.
Thus, there is no sufficient equity in the Collateral to repay
all indebtedness owed by the Debtor to Newcourt and the Debtor
lacks any equity in the Collateral; and

      (B) The Collateral is not necessary to an effective
reorganization of the Debtors. (Owens Corning Bankruptcy News,
Issue No. 10; Bankruptcy Creditors' Service, Inc., 609/392-0900)


POTLATCH CORP.: Senior Unsecured Debt Ratings Down To Baa3
----------------------------------------------------------
Increasing volatility on earnings and difficulty in generating
sufficient cash from operations have caused the latest downgrade
on the debt ratings of Potlatch Corporation.

Moody's Investors Service lowered the company's senior unsecured
debt ratings to Baa3 from Baa1, and the company's short term
rating for commercial paper to Prime-3 from Prime-2.

According to analysts at Moody's, the ratings downgrades reflect
an increased level of debt, an expected increase in the
volatility of the company's earnings over time, and the current
weak outlook for the company's core businesses of coated papers,
lumber, and oriented strand board.

Analysts believe that the company will have difficulty
generating sufficient cash from operations to support meaningful
debt reduction over the near and intermediate term, and debt
protection measurements are likely to remain consistent with the
revised lower ratings.

The company's ratings do reflect, however, the value of the
company's timberlands, which are expected to continue generating
relatively steady earnings, and the company's franchise in
western private label tissue, which analysts believe will grow
over the long term.

Ratings downgraded are:

      -- Senior unsecured notes and debentures; to Baa3 from Baa1

      -- Industrial and pollution control revenue bonds; to Baa3
         from Baa1

      -- Medium term notes; to Baa3 from Baa1

      -- Short term ratings for commercial paper; to Prime-3 from
         Prime-2

Potlatch's debt has increased approximately 25% over the past
two years on higher capital spending and a modest amount of
share repurchases, at around 120% of equity, is well above
management's targeted debt to equity ratio of 60%.

The company had been expected to dedicate increasing cash flow
over the near term for debt reduction and the restoration of
debt protection measurements.

However, the current outlook for a number of the company's core
products (particularly wood products, coated paper and bleached
board) has weakened substantially, and analysts do not believe
that the company will be capable of generating sufficient free
cash flow to materially reduce debt over the near and
intermediate term.

Lower product price and higher energy costs are likely to result
in financial performance during 2001, which is weak even for the
revised ratings, and the company will need to judiciously manage
capital spending over the course of the year, or until product
pricing improves.

In 2001, Moody's project the company's ratio of EBIT to interest
at slightly less than 1.0x, and the company's ratio of retained
cash flow to total debt at just under 10%.

In addition, Moody's believe that the contribution of recently
completed incremental pulp and oriented strand board (OSB)
capacity could result in an increase in volatility of the
company's earnings and cash generation over the long term.

A swing in earnings in the wood products business from an
operating profit of $83 million in 1999 to an operating loss of
$11 million in 2000 was largely responsible for the 50% year
over year decline in the company's aggregate operating income.

Earnings from the company's timberlands and tissue operations
are expected to continue providing some offsetting stability.
However, Moody's believe that the company may need to add
incremental tissue capacity within the next several years to
support the geographic expansion of its tissue customers.

Potlatch, headquartered in Spokane, Washington, is a diversified
forest products company with timberlands in Arkansas, Idaho, and
Minnesota.


PRECISION AUTO: Nasdaq Intends to Delist Shares From Trading
------------------------------------------------------------
Precision Auto Care, Inc. (Nasdaq: PACI) announced that they had
received a letter from NASDAQ informing PACI that NASDAQ intends
to delist the company. PACI's common stock has failed to
maintain a minimum bid price of $1.00 over the required
timeframe.

Precision Auto Care, Inc. is the world's largest franchiser of
auto care centers, with over 500 operating centers as of March
26, 2001. The Company franchises and operates Precision Tune
Auto Care centers around the world.


PSINET INC.: ISP On The Verge of Default, Nears Bankruptcy
----------------------------------------------------------
A Securities Data Publishing report says PSINet Inc. will likely
be in default with its payment on some loan agreements. This as
the company's bonds are now just trading a mere ten cents.

In its "Mergers and Acquisitions" report, Securities Data
Publishing said there is a big possibility the internet service
provider cannot meet a looming $20 million obligation.

Recently, the company had admitted its equity is valueless and
its bond values will be impaired. The bonds, which have been
trading in the mid-teens, subsequently dropped to below 10,
following the admission.

Analysts believe a Chapter 11 could come in the next month or
two. PSI Net has $3.6 billion in debt and a coupon payment on
May 1 for $20.13 million on its $350 million in 11.5% senior
notes maturing in 2008.

But one analyst says the company can still stay afloat within
the next two to three quarters. Ashish Kishore, an analyst at
Credit Research & Trading, said the company has enough money to
meet its imminent obligations.

He said PSINet has $300 million in cash from the beginning of
March after it sold its PSINet Transaction Solutions automated
teller business to GTCR Golder Rauner.
Kishore, however, admitted that bondholders are also worried
that the deal, scheduled to close by the end of April, may not
be consummated.

PSINet has made several divestitures recently, including its
Inter.net Global Ltd. and PSINet Global Solutions subs for
undisclosed amounts.

Given those sales, and the sale of Transaction Solutions,
analysts estimate the company could have up to $1 billion in
cash, the report said.

Securities Data Publishing said bondholders, though, likely want
to see a sale or Chapter 11 filing as quickly as possible. The
cash is attractive, as are the firm's global fiber network and
Web-hosting properties.

An analyst at Prudential Securities, who recently dropped
coverage of the company, said PSINet's business is worth about
$1.5 billion.


REGAL CINEMAS: Anschutz Moves Closer To Gaining Control Of Chain
----------------------------------------------------------------
Billionaire Philip F. Anschutz and partner Oaktree Capital
Management LLC bought out a group of Regal Cinemas Inc.'s
bondholders who had recently made a $1.1 billion offer for
control of the movie chain, moving Anschutz closer to gaining
control, according to The Wall Street Journal. As part of the
deal, Anschutz and Oaktree bought about 30 percent of Regal's
$800 million in bonds at an unknown price. The recent purchase
now makes it possible for Anschutz to block approval of any
competing plan by either class of debt holders.

Kohlberg Kravis Roberts & Co. (KKR) and Hicks, Muse, Tate &
Furst Inc. (Hicks Muse) purchased the Knoxville, Tenn.-based
Regal in 1998 for $1.5 billion, but the theater has been
struggling under a debt load of more than $1.8 billion. Regal
defaulted on its bonds in December and said it was considering
filing for chapter 11 bankruptcy. KKR and Hicks Muse's ownership
would be wiped out in a chapter 11 restructuring. (ABI World,
March 26, 2001)


RESORT AT SUMMERLIN: Committee Opposes Extension of Exclusivity
---------------------------------------------------------------
Micco, LLC and the Unofficial Committee of Mechanics' and
Materialmen's Lien Claimants oppose the motion of The Resort At
Summerlin, Ltd. Partnership and The Resort at Summerlin, Inc.
for an order extending plan filing and solicitation exclusivity
period.

The lien claimants asserted that their position is constantly
deteriorating through the accrual of interest on secured debts
with priority over the liens of the Lien Claimants and/or the
use of the DIP Credit Facility.

The Lien Claimants would like to propose a plan calling for an
immediate auction of the hotel in order to speedily liquidate
the debtors' main (but money-losing) asset.


STRATEGIC DISTRIBUTION: Nasdaq Looks To Delisting Shares
--------------------------------------------------------
Strategic Distribution, Inc. (Nasdaq: STRD) has been notified by
Nasdaq Staff, in a letter dated March 20, 2001, that the Company
has failed to comply with the minimum bid price requirements for
continued listing as set forth in Marketplace Rule 4310, and
that its common stock, therefore, is subject to delisting from
the Nasdaq National Market. The Company has requested an oral
hearing before a Nasdaq Listing Qualifications Panel to review
the Nasdaq staff's determination and has been granted a hearing
on May 3, 2001. Strategic Distribution's common stock will
continue to be listed on the Nasdaq National Market pending the
results of the oral hearing. While Strategic Distribution
believes it can present a strong case for the continued listing
of its common stock on the Nasdaq National Market, there can be
no assurance that the Nasdaq Panel will grant the Company's
request for continued listing.

If Strategic Distribution's common stock is delisted from the
Nasdaq National Market, it will be available for quotation on
the OTC Bulletin Board electronic quotation system, and
shareholders will be able to access current trading information,
including the last trade, bid and ask quotations and share
volume.

Strategic Distribution, Inc. is a leading provider of industrial
supply services to commercial and industrial customers. The
Company provides proprietary services that reduce costs and
inefficiencies in the procurement and management of maintenance,
repair and operating ("MRO") materials. For large industrial
facilities, the Company's In-Plant Store program offers a
comprehensive MRO outsourcing solution through which the Company
manages all aspects of industrial supply and logistics.


SUN HEALTHCARE: Agrees To Transfer North Carolina Facility
----------------------------------------------------------
Sun Healthcare Group, Inc., the United States, on behalf of the
Health Care Financing Administration (HCFA), and Kornegay
Healthcare, Inc. agreed to a Stipulation and Order to enable the
Debtors to transfer to Kornegay Sunrise Care and Rehabilitation
of Duplin (a/k/a Countryside Villa of Duplin) located in Warsaw,
North Carolina (the Facility), and to enable Kornegay to take
assignment of the Provider Agreement without imposing
administrative claims arising from assumption of the Medicare
provider agreement for the Facility.

Among other things, the Stipulation provides that Sun will
assume and assign the provider agreement for the Facility, thus
following the advice of HCFA and meeting the requirement under
section 365 of the Bankruptcy Code as advised by HCFA while
treating the provider agreement as if rejected with respect to
any claims by HCFA against Sun.

                          Background

On September 28, 1999, the Debtors and Kornegay entered into a
lease termination agreement and an operations transfer agreement
relating to the Facility. The Transfer Documents provided, inter
alia, that Sun's interest as tenant and operator of the Facility
would terminate on the earlier of (1) the date Kornegay obtained
a nursing home license from the State of North Carolina or (2)
December 1, 1999.

Kornegay applied for and obtained, on November 1, 1999, a
License to operate the Facility from the State of North Carolina
and thus became the new operator of the Facility on such date.

Kornegay applied on October 28, 1999 to HCFA for a change of
ownership ("CHOW") pursuant to 42 C.F.R. Section 489.18. Through
the CHOW process, Kornegay sought an automatic assignment of
Sun's Medicare provider agreement for the Facility from Sun to
Kornegay. HCFA informed Kornegay that it could not process the
CHOW with assignment of the Provider Agreement because such
agreement was an executory contract within the meaning of
section 365 of the Bankruptcy Code and thus could not be
assigned until Sun assumed the contract.

Sun declined to assume the contract because assumption would
elevate HCFA's claims to the status of administrative expenses.

                          Agreement

      (1) Assumption and Assignment of Provider Agreement

          Pursuant to the Agreement, Sun shall assume and assign
the Provider Agreement for the Facility to Komegay, effective as
of the Transfer Date. Kornegay agreed that it accepts assignment
of the Provider Agreement pursuant to applicable non-bankruptcy
law. Kornegay specifically agreed that by accepting assignment
it shall have successor liability for obligations of Sun under
the Provider Agreement as explained in United States v. Vernon
Home Health, Inc., 21 F.3d 693, 696 (5th Cir. 1994). Kornegay
agreed that it shall have no claims against Sun, including
claims arising in connection with the assumption or assignment
of the Provider Agreement contemplated by the Agreement, except
to the extent such claims are specifically reserved in the
Transfer Documents.

      (2) Conditions Precedent to Effectiveness of Assignment

          Kornegay must comply with all applicable law, including
but not limited to the requirement that it apply for and obtain
approval from HCFA of a CHOW. HCFA has reviewed the CHOW, and
subject to Kornegay's compliance with this Stipulation and the
legal requirements cited, HCFA shall approve the CHOW effective
as of the Transfer Date. Kornegay agreed that it shall succeed
to the quality of care history of the Facility and shall be
responsible for any and all civil monetary penalties imposed by
HCFA based on deficiencies in Medicare and Medicaid quality
requirements.

In addition, Sun agreed and confirmed that Kornegay's operation
of the Facility, subsequent to the Transfer Date and pursuant to
the terms of the Transfer Documents, shall not be subject to
challenge by Sun, except as provided for in the Transfer
Documents.

      (3) Provider Agreement to Be Treated As If Rejected

          Notwithstanding Sun's assumption and assignment of the
Provider Agreement, HCFA agreed that any claims it may have
against Sun arising under the Provider Agreement shall be
treated as if the Provider Agreement were rejected in the
bankruptcy case. HCFA further agreed that it has no additional
claims against Sun arising from any operation of the Facility
under the Provider Agreement subsequent to the Transfer Date,
and that any claims it may have against Sun for periods prior to
the Transfer Date shall be included within and released in
accordance with any global settlement between Sun and HCFA.

      (4) Filing of Terminating Cost Reports

          Sun shall file a terminating cost report for the
Facility for the period ending October 31, 1999. Kornegay shall
(a) file a partial cost report from November 1, 1999 through the
end of the fiscal year, and (b) begin a new cost reporting year
starting on January 1, 2000.

      (5) Effective Date

          This Stipulation shall be effective when an order of
the Bankruptcy Court approving this Stipulation becomes final
and nonappealable.

      (6) No Construction Against the Drafters

          All Parties participated equally in the drafting of
this Stipulation and the rule that ambiguous terms are construed
against the drafters shall not apply.

      (7) Scope of Stipulation

          This Stipulation does not affect any federal agency or
program other than HCFA's rights under the Medicare program.

      (8) Jurisdiction to Enforce Stipulation

          The Bankruptcy Court shall retain jurisdiction to
enforce the terms of this Stipulation. (Sun Healthcare
Bankruptcy News, Issue No. 19; Bankruptcy Creditors' Service,
Inc., 609/392-0900)


VENCOR INC.: Rejects Contract With Hyperbaric Management
--------------------------------------------------------
Vencor, Inc. sought and obtained the Court's authority to reject
the contract between Debtor Transitional Hospital Corporation of
Nevada d/b/a THC Las Vegas (THCLV) and Hyperbaric Management
Systems, Inc. (HMS) because participation in the HMS Contract
has resulted in losses to THCLV, with no corresponding benefit
received by THCLV or Vencor Hospital - Las Vegas.

The HMS Contract contemplates HMS' provision of certain
hyperbaric healing services to THCLV inpatients and outpatients
within the context of a Wound Healing Center established at
THCLV's Las Vegas medical facility (Vencor Hospital - Las
Vegas). THCLV was to provide space, utilities, staffing and
to bill patients for hyperbaric services at certain rates.

Under the HMS Contract, "the Hospital shall pay to HMS the
greater of

      (a) $20,000 per month or

      (b) all the fees and other amounts . . . which are
collected for inpatient, outpatient and emergency hyperbaric
treatments and wound healing services provided by HMS during the
immediately preceding calendar month under the terms of this
Agreement."

Amounts collected for hyperbaric treatments and HMS wound
healing services have historically fallen short of the $20,000
payment floor of provided in the contract but THCLV has made
payments to HMS in the amount of $20,000 per month for most
months since the commencement of the HMS Contract.

Furthermore, under current Medicare cost-reporting procedures,
Vencor Hospital - Las Vegas' reimbursement amounts are actually
reduced to the extent that hyperbaric services are provided to
outpatients. Moreover, any ancillary benefits that Vencor may
have anticipated realizing from the HMS Contract have not
materialized. (Vencor Bankruptcy News, Issue No. 26; Bankruptcy
Creditors' Service, Inc., 609/392-0900)


XPEDIOR INC.: Voluntarily Delists Shares From the Nasdaq Market
---------------------------------------------------------------
Xpedior Incorporated (Nasdaq: XPDR) filed a Form 15 with the
Securities and Exchange Commission suspending for ninety days
its obligation to file periodic reports under the Securities
Exchange Act of 1934. Under the rules and regulations of the
Securities and Exchange Commission, Xpedior's obligation to file
such periodic reports will terminate upon the expiration of such
ninety-day period.

Xpedior said that, in conjunction with its Form 15 filing with
the SEC, Xpedior has filed a written request to the Nasdaq
National Market to voluntarily delist its shares from trading.
The Company stated that such request has been accepted by
Nasdaq, and that Xpedior's voluntary delisting became effective
today. Xpedior also stated that, as a result of its Form 15
filing with the SEC, the Company would not apply for listing on
any other exchange, including the Nasdaq small cap market or OTC
market.

On Tuesday, March 20th, Xpedior announced the closing of
unprofitable offices in New York City, San Jose, Denver, and
Dallas, and the reduction of its workforce in its Alexandria,
Virginia office, and in its staff functions within its corporate
headquarters. The Company also announced on March 20th that it
anticipates that its current cash, cash equivalents and cash
that may be generated from operations should be sufficient to
meet its anticipated operating requirements through June 30,
2001, but that there could be no assurance in this regard. In
order to continue operations in 2001, the Company announced that
it would require an additional, substantial capital infusion,
but that it would be difficult or impossible for the Company to
obtain such additional working capital. Accordingly, Xpedior
announced that it would continue to explore strategic
alternatives for the sale of all or part of its remaining
operations. Even if Xpedior is successful in one or more of
these efforts, the Company announced that it is likely that the
common stock of the Company would have no value. Xpedior also
stated that it is the Company's current intention to dispose of
its assets in an orderly manner, and apply the proceeds to the
payment of the Company's obligations in accordance with
applicable law. In the event a bankruptcy proceeding is deemed
appropriate to achieve this objective, the Company announced
that it may commence such proceedings.


* Meetings, Conferences and Seminars
------------------------------------
March 28-30, 2001
    RENAISSANCE AMERICAN MANAGEMENT & BEARD GROUP, INC.
       Healthcare Restructurings 2001
          The Regal Knickerbocker Hotel, Chicago, Illinois
             Contact: 1-903-592-5169 or ram@ballistic.com

March 29-April 1, 2001
    NORTON INSTITUTES ON BANKRUPTCY LAW
       Norton Bankruptcy Litigation Institute II
          Flamingo Hilton; Las Vegas, Nevada
             Contact: 1-770-535-7722 or Nortoninst@aol.com

April 2-3, 2001
    PRACTISING LAW INSTITUTE
       23rd Annual Current Developments
       in Bankruptcy and Reorganization
          PLI New York Center, New York, New York
             Contact: 1-800-260-4PLI or http://www.pli.edu

April 19-21, 2001
    ALI-ABA
       Fundamentals of Bankruptcy Law
          Pan Pacific Hotel, San Francisco, California
             Contact: 1-800-CLE-NEWS

April 19-22, 2001
    American Bankruptcy Institute
       Annual Spring Meeting
          J.W. Marriott, Washington, D.C.
             Contact: 1-703-739-0800 or http://www.abiworld.org

April 26-29, 2001
    COMMERCIAL LAW LEAGUE OF AMERICA
       71st Annual Chicago Conference
          Westin Hotel, Chicago, Illinois
             Contact: Comlawleag@aol.com

April 30-May 1, 2001
    PRACTISING LAW INSTITUTE
       23rd Annual Current Developments
       in Bankruptcy and Reorganization
          PLI California Center, San Francisco, California
             Contact: 1-800-260-4PLI or http://www.pli.edu

May 14, 2001
    American Bankruptcy Institute
       NY City Bankruptcy Conference
          Association of the Bar of the City of New York
          New York, New York
             Contact: 1-703-739-0800 or http://www.abiworld.org

May 25, 2001
    American Bankruptcy Institute
       Canadian-American Bankruptcy Program
          Hotel TBA, Toronto, Canada
             Contact: 1-703-739-0800

June 7-10, 2001
    American Bankruptcy Institute
       Central States Bankruptcy Workshop
          Grand Traverse Resort, Traverse City, Michigan
             Contact: 1-703-739-0800 or http://www.abiworld.org

June 13-16, 2001
    Association of Insolvency & Restructuring Advisors
       Annual Conference
          Hyatt Newporter, Newport Beach, California
             Contact: 541-858-1665 or aira@ccountry.com

June 14-16, 2001
    ALI-ABA
       Partnerships, LLCs, and LLPs: Uniform Acts,
       Taxations, Drafting, Securities, and Bankruptcy
          Swissotel, Chicago, Illinois
             Contact: 1-800-CLE-NEWS

June 18-19, 2001
    American Bankruptcy Institute
       Investment Banking Program
          Association of the Bar of the City of New York,
          New York, New York
             Contact: 1-703-739-0800 or http://www.abiworld.org

June 21-22, 2001
    RENAISSANCE AMERICAN MANAGEMENT & BEARD GROUP, INC.
       Bankruptcy Sales & Acquisitions
          The Renaissance Stanford Court Hotel,
          San Francisco, California
             Contact: 1-903-592-5169 or ram@ballistic.com

June 25-26, 2001
    TURNAROUND MANAGEMENT ASSOCIATION
       Advanced Education Workshop
          The NYU Salomon Center at the Stern School
          of Business, New York, NY
             Contact: 312-822-9700 or info@turnaround.org

June 28-July 1, 2001
    NORTON INSTITUTES ON BANKRUPTCY LAW
       Western Mountains, Advanced Bankruptcy Law
          Jackson Lake Lodge, Jackson Hole, Wyoming
             Contact:  770-535-7722 or Nortoninst@aol.com

June 28-July 1, 2001
    American Bankruptcy Institute
       Hawaii CLE Program
          Outrigger Wailea Resort, Maui, Hawaii
             Contact: 1-703-739-0800 or http://www.abiworld.org

June 30 through July 5, 2001
    National Association of Chapter 13 Trustees
       Annual Seminar
          Marriott Hotel and Marina, San Diego, California
             Contact: 1-800-445-8629 or http://www.nactt.com

July 13-16, 2001
    American Bankruptcy Institute
       Northeast Bankruptcy Conference
          Stoweflake Resort, Stowe, Vermont
             Contact: 1-703-739-0800 or http://www.abiworld.org

July 26-28, 2001
    ALI-ABA
       Chapter 11 Business Reorganizations
          Hotel Loretto, Santa Fe, New Mexico
             Contact: 1-800-CLE-NEWS

August 1-4, 2001
    American Bankruptcy Institute
       Southeast Bankruptcy Conference
          The Ritz-Carlton, Amelia Island, Florida
             Contact: 1-703-739-0800 or http://www.abiworld.org

September 6-9, 2001
    American Bankruptcy Institute
       Southwest Bankruptcy Conference
          The Four Seasons Hotel, Las Vegas, Nevada
             Contact: 1-703-739-0800 or http://www.abiworld.org

September 7-11, 2001
    National Association of Bankruptcy Trustees
       Annual Conference
          Sanibel Harbor Resort, Ft. Myers, Florida
             Contact: 1-800-445-8629 or http://www.nabt.com

September 13-14, 2001
    ALI-ABA
       Corporate Mergers and Acquisitions
          Washington Monarch, Washington, D. C.
             Contact:  1-800-CLE-NEWS or http://www.ali-aba.org

September 14-15, 2001
    American Bankruptcy Institute
       ABI/Georgetown Program "Views from the Bench"
          Georgetown University Law Center, Washington, D.C.
             Contact: 1-703-739-0800 or http://www.abiworld.org

October 3-6, 2001
    American Bankruptcy Institute
       Litigation Skills Symposium
          Emory University School of Law, Atlanta, Georgia
             Contact: 1-703-739-0800 or http://www.abiworld.org

October 12-16, 2001
    TURNAROUND MANAGEMENT ASSOCIATION
       2001 Annual Conference
          The Breakers, Palm Beach, FL
             Contact: 312-822-9700 or info@turnaround.org

October 16-17, 2001
    International Women's Insolvency and
    Restructuring Confederation (IWIRC)
       Annual Fall Conference
          Somewhere in Orlando, Florida
             Contact: 703-449-1316 or
                      http://www.inetresults.com/iwirc

November 29-December 1, 2001
    American Bankruptcy Institute
       Winter Leadership Conference
          La Costa Resort & Spa, Carlsbad, California
             Contact: 1-703-739-0800 or http://www.abiworld.org

January 31 - February 2, 2002
    American Bankruptcy Institute
       Rocky Mountain Bankruptcy Conference
          Westin Tabor Center, Denver, Colorado
             Contact: 1-703-739-0800 or http://www.abiworld.org

January 11-16, 2002
    Law Education Institute, Inc
       National CLE Conference(R) - Bankruptcy Law
          Steamboat Grand Resort
          Steamboat Springs, Colorado
             Contact: 1-800-926-5895 or
http://www.lawedinstitute.com

February 7-9, 2002 (Tentative)
    American Bankruptcy Institute
       Rocky Mountain Bankruptcy Conference
          Westin Tabor Center, Denver, Colorado
             Contact: 1-703-739-0800 or http://www.abiworld.org

March 15, 2002 (Tentative)
    American Bankruptcy Institute
       Bankruptcy Battleground West
          Century Plaza Hotel, Los Angeles, California
             Contact: 1-703-739-0800 or http://www.abiworld.org

April 18-21, 2002
    American Bankruptcy Institute
       Annual Spring Meeting
          J.W. Marriott, Washington, D.C.
             Contact: 1-703-739-0800 or http://www.abiworld.org

May 13, 2002 (Tentative)
    American Bankruptcy Institute
       New York City Bankruptcy Conference
          Association of the Bar of the City of New York,
          New York, New York
             Contact: 1-703-739-0800 or http://www.abiworld.org

June 6-9, 2002
    American Bankruptcy Institute
       Central States Bankruptcy Workshop
          Grand Traverse Resort, Traverse City, Michigan
             Contact: 1-703-739-0800 or http://www.abiworld.org

June __, 2002
    American Bankruptcy Institute
       Delaware Bankruptcy Conference
          Hotel Dupont, Wilmington, Delaware
             Contact: 1-703-739-0800 or http://www.abiworld.org

December 5-8, 2002
    American Bankruptcy Institute
       Winter Leadership Conference
          The Westin, La Plaoma, Tucson, Arizona
             Contact: 1-703-739-0800 or http://www.abiworld.org

April 10-13, 2003
    American Bankruptcy Institute
       Annual Spring Meeting
          Grand Hyatt, Washington, D.C.
             Contact: 1-703-739-0800 or http://www.abiworld.org

December 5-8, 2003
    American Bankruptcy Institute
       Winter Leadership Conference
          La Quinta, La Quinta, California
             Contact: 1-703-739-0800 or http://www.abiworld.org

April 15-18, 2004
    American Bankruptcy Institute
       Annual Spring Meeting
          J.W. Marriott, Washington, D.C.
             Contact: 1-703-739-0800 or http://www.abiworld.org

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday.  Submissions via
e-mail to conferences@bankrupt.com are encouraged.


                            *********

Bond pricing, appearing in each Monday's edition of the TCR, is
provided by DLS Capital Partners in Dallas, Texas.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com.

Each Friday's edition of the TCR includes a review about a book
of interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.

For copies of court documents filed in the District of
Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911. For
bankruptcy documents filed in cases pending outside the
District of Delaware, contact Ken Troubh at Nationwide Research
&
Consulting at 207/791-2852.


                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published by
Bankruptcy Creditors' Service, Inc., Trenton, NJ USA, and Beard
Group, Inc., Washington, DC USA. Debra Brennan, Yvonne L.
Metzler, Larri-Nil Veloso, Aileen Quijano and Peter A. Chapman,
Editors.

Copyright 2001.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.
Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

The TCR subscription rate is $575 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance
thereof are $25 each.  For subscription information, contact
Christopher Beard at 301/951-6400.

                      *** End of Transmission ***