TCR_Public/040619.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

               Saturday, June 19, 2004, Vol. 8, No. 123

                            Headlines


AIR CANADA: Reports Higher May 2004 Traffic Results
COVANTA ENERGY: Reports $2 Million Net Loss in February 2004
DIVINE, INC.: Releases April 2004 Monthly Operating Reports
FEDERAL-MOGUL: Reports $7.3 Million Net Loss in April 2004
FOOTSTAR INC: Incurs $72.4 Million Net Loss in April 2004

HAYES LEMMERZ: Reports 15% Sales Growth in First Quarter 2004
IMPATH INC: Files Amended April 2004 Monthly Operating Report
INSILCO HOLDING: Reports $13 Million in Assets At May 31, 2004
MIRANT CORP: Reports $30 Million Income in First Quarter 2004
MISSISSIPPI CHEMICAL: April Net Loss Narrows to $1.4 Million

PG&E NATIONAL: Energy Service Jan. 2004 Monthly Operating Report
PG&E NATIONAL: ET GAS January 2004 Monthly Operating Report
PG&E NATIONAL: ET Holdings January 2004 Monthly Operating Report
PG&E NATIONAL: ET Investments Jan. 2004 Monthly Operating Report
PG&E NATIONAL: ET Power January 2004 Monthly Operating Report

PG&E NATIONAL: USGen January 2004 Monthly Operating Report
PILLOWTEX CORP: Monthly Operating Report for April 2004
RCN CORP: Hot Spots Productions' Schedules of Assets & Liabilities
RCN CORP: RCN Corp.'s Schedules of Assets and Liabilities
RCN CORP: RCN Finance, LLC's Schedules of Assets & Liabilities

RCN CORP: RLH Property's Schedules of Assets & Liabilities
RCN CORP: TEC Air's Schedules of Assets & Liabilities
SPIEGEL GROUP: Reports $109,300,000 Net Sales for May 2004
THAXTON GROUP: Stockholders' Deficit is $15.6 Million at Apr 30
TWINLAB CORPORATION: Files May 2004 Monthly Operating Reports

UAL CORP: Reports Highest-Ever May 2004 Passenger Load Factor


                            *********


AIR CANADA: Reports Higher May 2004 Traffic Results
---------------------------------------------------
Air Canada mainline flew 25.4 percent more revenue passenger miles
(RPMs) in May 2004 than in May 2003, according to preliminary
traffic figures. Overall, capacity increased by 14.4 percent,
resulting in a load factor of 78.5 percent, compared to 71.6
percent in May 2003; an increase of 6.9 percentage points. In the
domestic market, capacity decreased by 1.9% while traffic rose by
12.2% resulting in a domestic load factor of 79.7% - a 10.1 point
increase year over year.

Jazz, Air Canada's regional airline subsidiary, flew 4.5 percent
more revenue passenger miles in May 2004 than in May 2003,
according to preliminary traffic figures. Capacity increased by
2.3 percent, resulting in a load factor of 61.9 percent, compared
to 60.6 percent in May 2003; an increase of 1.3 percentage points.

"The system load factor for May was again our highest in history
for the month.  In particular, our domestic load factor of 79.7%
was a solid indication of the success of Air Canada's product
offerings in a highly competitive industry environment. Yields are
also firming and the year-over-year traffic growth reflected, in
part, the impact of SARS on last year's results," said Rob
Peterson, Executive Vice President and Chief Financial Officer.


                        AIR CANADA MAINLINE
                   (Includes Tango, Zip & Jetz)

                                               MAY
                             -----------------------------------
                                2004        2003       Change
                             ----------  ----------  -----------
Traffic (RPMs millions)        3,428       2,734      +25.4%
Capacity (ASMs millions)       4,367       3,817      +14.4%
                             ----------  ----------  -----------
   Load Factor                  78.5%       71.6%      +6.9 pts
                             ==========  ==========  ===========

Canada RPMs                    1,086         968      +12.2%
        ASMs                    1,363       1,390       -1.9%
                             ----------  ----------  -----------
    Load Factor                  79.7%       69.6%     +10.1 pts
                             ==========  ==========  ===========

U.S. Trans-border RPMs           468         464       +0.9%
                   ASMs           707         750       -5.7%
                             ----------  ----------  -----------
    Load Factor                  66.2%       61.9%      +4.3 pts
                             ==========  ==========  ===========

Atlantic RPMs                    914         903       +1.2%
          ASMs                  1,081       1,071       +0.9%
                             ----------  ----------  -----------
    Load Factor                  84.6%       84.3%      +0.3 pts
                             ==========  ==========  ===========

Pacific RPMs                     715         231     +209.5%
         ASMs                     892         375     +137.9%
                             ----------  ----------  -----------
    Load Factor                  80.2%       61.6%     +18.6 pts
                             ==========  ==========  ===========

Other & Charter RPMs             245         168      +45.8%
                 ASMs             324         231      +40.3%
                             ----------  ----------  -----------
    Load Factor                  75.6%       72.7%      +2.9 pts
                             ==========  ==========  ===========


                        AIR CANADA MAINLINE
                   (Includes Tango, Zip & Jetz)

                                         YEAR-TO-DATE
                             -----------------------------------
                                2004        2003       Change
                             ----------  ----------  -----------
Traffic (RPMs millions)       16,306      14,561      +12.0%
Capacity (ASMs millions)      21,619      20,239       +6.8%
                             ----------  ----------  -----------
  Load Factor                   75.4%       71.9%      +3.5 pts
                             ==========  ==========  ===========

Canada RPMs                    4,788       4,383       +9.2%
        ASMs                    6,378       6,229       +2.4%
                             ----------  ----------  -----------
    Load Factor                  75.1%       70.4%      +4.7 pts
                             ==========  ==========  ===========

U.S. Trans-border RPMs         2,927       3,104       -5.7%
                   ASMs         4,317       4,749       -9.1%
                             ----------  ----------  -----------
    Load Factor                  67.8%       65.4%      +2.4 pts
                             ==========  ==========  ===========

Atlantic RPMs                  3,721       3,800       -2.1%
          ASMs                  4,631       4,748       -2.5%
                             ----------  ----------  -----------
    Load Factor                  80.3%       80.0%      +0.3 pts
                             ==========  ==========  ===========

Pacific RPMs                   3,047       1,967      +54.9%
         ASMs                   3,858       2,785      +38.5%
                             ----------  ----------  -----------
    Load Factor                  79.0%       70.6%      +8.4 pts
                             ==========  ==========  ===========

Other & Charter RPMs           1,823       1,307      +39.5%
                 ASMs           2,435       1,728      +40.9%
                             ----------  ----------  -----------
    Load Factor                  74.9%       75.6%      -0.7pts
                             ==========  ==========  ===========


                     AIR CANADA REGIONAL (Jazz)

                                               MAY
                             -----------------------------------
                                2004        2003       Change
                             ----------  ----------  -----------
Traffic (RPMs millions)          140         134       +4.5%
Capacity (ASMs millions)         226         221       +2.3%
                             ----------  ----------  -----------
   Load Factor                  61.9%       60.6%      +1.3 pts
                             ==========  ==========  ===========


                     AIR CANADA REGIONAL (Jazz)

                                         YEAR-TO-DATE
                             -----------------------------------
                                2004        2003       Change
                             ----------  ----------  -----------
Traffic (RPMs millions)          665         637       +4.4%
Capacity (ASMs millions)       1,113       1,080       +3.1%
                             ----------  ----------  -----------
   Load Factor                  59.7%       59.0%      +0.7 pts
                             ==========  ==========  ===========


COVANTA ENERGY: Reports $2 Million Net Loss in February 2004
------------------------------------------------------------

           Covanta Energy Corporation and Subsidiaries
                   Consolidated Balance Sheets
                      At February 29, 2004

                             ASSETS

Current Assets:

Cash and cash equivalents                           $241,774,892
Inventory                                                      0
Accounts receivable                                  272,785,722
Receivables due from non-debtors, net                202,162,297

Land                                                   3,055,926
Machinery, fixtures and equipment                  1,035,299,649
Restricted funds                                     175,833,960
Other current assets                                  20,833,851
Other assets                                          64,394,054
                                                ----------------
Total assets                                      $2,016,140,351
                                                ================

               LIABILITIES AND SHAREHOLDERS' EQUITY

Liabilities:

Postpetition Liabilities:
Subject to financing order                                    $0
Accounts payable                                     308,821,430
                                                ----------------
Total postpetition liabilities                       308,821,430

Prepetition Liabilities:
Project Debt                                         725,081,899
Liabilities Subject to Compromise                    953,117,195
Taxes/Others                                         154,334,329
                                                ----------------
Total Prepetition Liabilities                      1,832,533,423
                                                ----------------

Shareholders' Equity:
Capital                                              213,100,585
Cumulative translation adjustment, net                   568,489
Retained earnings - prepetition                     (264,072,000)
Retained earnings - postpetition                     (74,811,576)
                                                ----------------
Total Shareholders' Equity                          (125,214,502)
                                                ----------------
Total Liabilities and Shareholders' Equity        $2,016,140,351
                                                ================


           Covanta Energy Corporation and Subsidiaries
               Consolidated Statements of Operations
            For the Period from February 1 to 29, 2004

INCOME:
Service, electric and construction revenue           $29,117,058
Waste-to-Energy project debt revenue                   7,445,586
                                                ----------------
          Total Income                                36,562,644

EXPENSES:
Operating and construction costs                      24,404,735
Waste-to-Energy project debt expense                   3,439,265
Depreciation and amortization expense                  3,689,211
Selling, general and admin expense                     2,842,847
Other, net                                               (23,412)
Cost of allocation from non-debtor subsidiaries       (4,468,388)
Gain on sale of businesses                                     0
Write down of assets held for use                              0
Write down of obligations to assets held for sale              0
Equity in earnings of non-debtor subsidiaries          3,388,081
                                                ----------------
          Total Expenses                              33,272,339
                                                ----------------
NET OPERATING PROFIT                                   3,290,305

Non-Operating Income:
Reorganization costs                                  (3,311,347)
Minority interest                                       (396,756)
Interest income                                           74,035
Interest expense                                      (4,185,980)
                                                ----------------
Total Non-Operating Income (Loss)                     (7,820,048)
Income Taxes                                          (2,524,027)
                                                ----------------
NET INCOME (LOSS)                                    ($2,005,716)
                                                ================


           Covanta Energy Corporation and Subsidiaries
                Consolidated Cash Flow Statements
            For the Period from February 1 to 29, 2004

Net income(loss)                                     ($2,005,716)
Depreciation and amortization                          3,057,602
Write-down of Assets                                           0
Equity in earnings of non-debtor subsidiaries         (2,609,047)
Receivables                                            4,725,652
Other assets                                             743,334
Payables and accrued expenses                        (10,419,842)
Other liabilities                                       (978,504)
Property, plant and equipment expenditures              (938,557)
Restricted funds, net                                 (9,888,942)
Issuance of debt, net                                  1,091,150
Related Parties                                        6,736,672
                                                ----------------
                                                     (10,486,198)

Cash, beginning balance                              252,261,090
                                                ----------------
Cash, ending balance                                $241,774,892
                                                ================

Headquartered in Fairfield, New Jersey, Covanta Energy Corporation
-- http://www.covantaenergy.com/-- is a publicly traded holding  
company whose subsidiaries develop, own or operate power
generation facilities and water and wastewater facilities in the
United States and abroad. The Company filed for Chapter 11
protection on April 1, 2002 (Bankr. S.D.N.Y. Case No. 02-40826).  
Deborah M. Buell, Esq., and James L. Bromley, Esq., at Cleary,
Gottlieb, Steen & Hamilton represent the Debtors in their
restructuring efforts.  When the Debtors filed for protection from
its creditors, they listed $3,280,378,000 in assets and
$3,031,462,000 in liabilities. (Covanta Bankruptcy News, Issue No.
58; Bankruptcy Creditors' Service, Inc., 215/945-7000)    


DIVINE, INC.: Releases April 2004 Monthly Operating Reports
-----------------------------------------------------------
On May 25, 2004, divine, inc., released its monthly operating  
reports for the period from April 1, 2004, through April 31,
2004. divine provides separate reports for its software, hosting,
and corporate businesses. divine's Software and Hosting business  
units' operating reports show virtually no activity in April 2004  
because these units were sold in May 2003.   

The Corporate segment reports no revenue and a $248,632 net  
loss in April 2004. At May 31, 2004, divine's balance sheet shows
$66 million in total assets.  

Full-text copies of divine's March 2004 Operating Reports are  
available at no charge at:

Corporate:
   http://www.sec.gov/Archives/edgar/data/1097516/000110465904016765/a04-6621_1ex99d3.htm

Software Unit:
   http://www.sec.gov/Archives/edgar/data/1097516/000110465904016765/a04-6621_1ex99d1.htm

Hosting Unit:
   http://www.sec.gov/Archives/edgar/data/1097516/000110465904016765/a04-6621_1ex99d2.htm   
   

divine, Inc., an affiliate of RoweCom Inc., described itself as an  
extended enterprise company, which serves to make the most of  
customer, employee, partner, and market interactions, and through  
a holistic blend of Technology, services, and hosting solutions,  
assist its clients in extending their enterprise.  The Company  
filed for chapter 11 protection on February 25, 2003 (Bankr. Mass.  
Case No. 03-11472).  Richard E. Mikels, Esq., Kevin J. Walsh,  
Esq., Adrienne K. Walker, Esq., at Mintz, Levin, Cohn, Ferris,  
Glovsky and Popeo and J. Douglas Bacon, Esq., Stephen R. Tetro,  
Esq., and Adam R. Skilken, Esq., represent the Debtors in their
chapter 11 cases.  When the Debtors filed or protection from
their creditors, they listed $271,372,593 in total assets and
$191,957,065 in total debts.


FEDERAL-MOGUL: Reports $7.3 Million Net Loss in April 2004
----------------------------------------------------------

                Federal-Mogul Global, Inc., et al.
                     Unaudited Balance Sheet
                       As of April 30, 2004
                          (In millions)

                             Assets

Cash and equivalents                                     $275.7
Accounts receivable                                       584.8
Inventories                                               434.0
Deferred taxes                                            199.3
Prepaid expenses and other current assets                 124.6
                                                     ----------
Total current assets                                    1,618.5

Summary of Unpaid Postpetition Debits                     (43.4)
Intercompany Loans Receivable (Payable)                 2,396.3
                                                     ----------
Intercompany Balances                                   2,353.0

Property, plant and equipment                           1,099.2
Goodwill                                                1,173.9
Other intangible assets                                   452.4
Insurance recoverable                                     800.7
Other non-current assets                                1,104.7
                                                     ----------
Total Assets                                           $8,602.4
                                                     ==========

              Liabilities and Shareholders' Equity

Short-term debt                                          $299.6
Accounts Payable                                          192.9
Accrued Compensation                                       85.4
Restructuring and rationalization reserves                 19.3
Current portion of asbestos liability                         -
Interest Payable                                            0.1
Other accrued liabilities                                 285.9
                                                     ----------
Total current liabilities                                 883.2

Long-term debt                                                -
Post-employment benefits                                1,456.5
Other accrued liabilities                                 968.3
Liabilities subject to compromise                       6,083.7

Shareholders' equity:
   Preferred stock                                      1,054.7
   Common stock                                           555.4
   Additional paid-in capital                           7,935.9
   Accumulated deficit                                 (9,627.8)
   Accumulated other comprehensive income                (707.4)
                                                     ----------
Total Shareholders' Equity                               (789.3)
                                                     ----------
Total Liabilities and Shareholders' Equity             $8,602.4
                                                     ==========


                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Operations
                For the month ended April 30, 2004
                          (In millions)

Net sales                                                $290.5
Cost of products sold                                     233.1
                                                     ----------
Gross margin                                               57.3

Selling, general & administrative expenses                (53.4)
Amortization                                               (0.9)
Reorganization items                                      (16.3)
Interest income (expense), net                             (6.0)
Other income (expense), net                                12.1
                                                     ----------
Earnings before Income Taxes                               (7.1)

Income Tax (Expense) Benefit                               (0.2)
                                                     ----------
Earnings before effect of change in accounting principle   (7.3)

Cumulative effect of change in accounting principle           -
                                                     ----------
Net Earnings                                              ($7.3)
                                                     ==========


                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Cash Flows
                For the month ended April 30, 2004
                        (In millions)

Cash Provided From (Used By) Operating Activities:
   Net loss                                               ($7.3)
Adjustments to reconcile net earnings (loss):
   Depreciation and amortization                           13.9
   Adjustments of assets held for sale to fair value          -
   Asbestos Charge                                            -
   Change in post-employment benefits                     (15.7)
   Decrease/(increase) in accounts receivable              15.1
   Decrease/(increase) in inventories                      (7.8)
   Increase/(decrease) in accounts payable                 17.4
Change in other assets and other liabilities              (22.1)
   Change in restructuring charge                          (1.1)
                                                     ----------
Net Cash Provided From Operating Activities                (7.7)

Cash Provided From (Used By) Investing Activities:
   Expenditures for property, plant & equipment            (9.3)
   Proceeds from sale of businesses                           -
                                                     ----------
Net Cash Provided From (Used By) Investing Activities      (9.3)

Cash Provided From (Used By) Financing Activities:
   Increase (decrease) in debt                            (10.0)
   Other                                                   (8.3)
                                                     ----------
Net Cash Provided From Financing Activities               (18.3)

Increase (Decrease) in Cash and Equivalents               (35.4)

Cash and equivalents at beginning of period               311.1
                                                     ----------
Cash and equivalents at end of period                    $275.7
                                                     ==========

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is one of the world's largest  
automotive parts companies with worldwide revenue of some
$6 billion.  The Company filed for chapter 11 protection on Oct.
1, 2001 (Bankr. Del. Case No. 01-10582). Lawrence J. Nyhan, Esq.,
James F. Conlan, Esq., and Kevin T. Lantry, Esq., at Sidley Austin
Brown & Wood and Laura Davis Jones, Esq., at Pachulski, Stang,
Ziehl, Young, Jones & Weintraub, represent the Debtors in their
restructuring efforts.  When the Debtors filed for protection from
its creditors, they listed $10.15 billion in assets and $8.86
billion in liabilities. (Federal-Mogul Bankruptcy News, Issue No.
57; Bankruptcy Creditors' Service, Inc., 215/945-7000)


FOOTSTAR INC: Incurs $72.4 Million Net Loss in April 2004
---------------------------------------------------------
On June 16, 2004, Footstar, Inc. released their monthly operating
report for the period from March 3, 2004 to May 29, 2004.  The
Company reports a net loss of $72.4 million in $150.4 million net
sales.  At May 1, 2004, Footstar, Inc.'s consolidated balance
sheet shows:

         Total Assets             $ 543,500,000
         Current Liabilities         40,500,000
         Total Liabilities
           Subject to Compromise    245,000,000
         Shareholders' Equity     $  40,700,000


A full-text copy of Footstar, Inc.'s Form 8-K is available at no
charge at:

   http://www.sec.gov/Archives/edgar/data/1011308/000090951804000554/jd6-16ex_99.txt


On March 2, 2004, Footstar, Inc. and substantially all of its
subsidiaries filed voluntary petitions under Chapter 11 of title
11, United States Code in the United States Bankruptcy Court for
the Southern District of New York (Case No. 04-22350 (ASH)). The
Debtors remain in possession of their assets and properties, and
continue to operate their businesses and manage their properties
as debtors-in-possession pursuant to sections 1107(a) and 1108 of
the Bankruptcy Code.


HAYES LEMMERZ: Reports 15% Sales Growth in First Quarter 2004
-------------------------------------------------------------
Hayes Lemmerz International, Inc. (NASDAQ: HAYZ) reported that
sales for the fiscal first quarter, ended April 30, 2004, rose 15
percent to $594.1 million from $515.3 million a year earlier.
Earnings from operations for the first quarter rose sharply to
$26.2 million, compared with $14.4 million a year earlier,
excluding fresh start accounting adjustments and reorganization
items.

"Our intense focus on operational excellence and financial
discipline is bearing fruit," said Curtis Clawson, President,
Chief Executive Officer and Chairman of the Board.  "This is by
far our best quarter, both operationally and financially, since
Hayes Lemmerz emerged from Chapter 11 reorganization in June 2003.
Our sales were up strongly across all segments of the business and
our operational efficiency continued to improve, with gross
margins increasing to 12.5 percent from 10.0 percent a year ago."

The Company reported a net loss of $2.7 million for the first
quarter of fiscal 2004, after taking a charge of $12.2 million for
early extinguishment of debt. This compares with a year earlier
loss of $22.6 million.

Cash generated from operations rose strongly in the quarter to
$71.9 million, from $17.1 million in the year-earlier quarter.
Capital expenditures were $29.3 million in the recent quarter,
compared with $20.0 million a year earlier.

During the first quarter, Hayes Lemmerz redeemed $87.5 million of
its 10-1/2 percent Senior Notes and prepaid $16.0 million of its
Term Loan B, following completion of a $125.5 million follow-on
equity offering on February 11.  First quarter results reflected a
$12.2 million charge for early debt extinguishment.

With those debt reductions, net debt at the end of first quarter
was $578.6 million, a reduction of $150 million from yearend
fiscal 2003.  The Company has not borrowed under its $100 million
revolving credit facility since its emergence from Chapter 11.  
"Our balance sheet is healthy, and we have ample financial
resources to continue improving efficiency and expanding into new
markets as opportunities arise," added Mr. Clawson.

Because Hayes Lemmerz emerged from Chapter 11 reorganization in
June 2003, financial results for the current year and prior year
are not fully comparable, the Company noted.

A full-text copy of Hayes' Form 10-Q is available for free at the
Securities and Exchange Commission at:

   http://www.sec.gov/Archives/edgar/data/1237941/000095012404002746/k86046e10vq.htm


          Hayes Lemmerz International, Inc., and Subsidiaries
                      Consolidated Balance Sheet
                        As of April 30, 2004
                             (in millions)

                                Assets

Current Assets:
    Cash and cash equivalents                              $85.3
    Receivables                                            333.8
    Inventories                                            200.3
    Prepaid expenses                                        27.2
                                                        --------
       Total current assets                               $646.6

Property, Plant & Equipment                                964.9
Goodwill and Other Assets                                  411.6
Intangible assets, net                                     229.9
Other assets                                                63.6
                                                        --------
Total Assets                                            $2,316.6
                                                        ========

               Liabilities and Stockholder's Deficit

Current Liabilities:
    DIP Facility                                               -
    Bank borrowings and other notes                         $6.9
    Current portion of long-term debt                       10.7
    Accounts payable and accrued liabilities               389.1
                                                        --------
       Total current liabilities                           406.7

Long-term debt                                             646.3
Pension and other long-term liabilities                    527.9
Series A Warrants and Series B Warrants                      4.3
Redeemable preferred stock of subsidiary                    10.7
Minority interest                                           28.8

Stockholder's Equity:
    Preferred stock                                            -
    Common stock:
       Voting                                                0.4
    Additional paid-in capital                             666.7
    Accumulated deficit                                    (49.2)
    Accumulated other comprehensive loss                    74.0
                                                        --------
       Total stockholder's equity                          691.9

Total Liabilities & Stockholder's Equity                $2,316.6
                                                        ========


           Hayes Lemmerz International, Inc., and Subsidiaries
                 Consolidated Statement of Operations
                  Three Months Ended April 30, 2004
                             (in millions)

Net Sales                                                 $594.1
Cost of Goods Sold                                         520.0
                                                         -------
Gross Profit                                                74.1

Marketing, general & administration                         43.9
Asset impairment                                             2.4
Other income, net                                            1.6
Reorganization Items                                           -
                                                         -------
Earnings from operations                                    26.2

Interest expense, net                                        9.2
Other non-operating income                                  (0.1)
Loss on early extinguishment of debt                        12.2
                                                         -------
Earnings before taxes and minority interest                  4.9
Income taxes                                                 5.0
                                                         -------
Loss before minority interest & extraordinary gain          (0.1)
Minority interest                                            2.6
                                                         -------
Net Loss                                                   ($2.7)
                                                         =======


           Hayes Lemmerz International, Inc., and Subsidiaries
                 Consolidated Statement of Cash Flows
                   Three Months Ended April 30, 2004
                             (in millions)

Cash Flows from Operating Activities:
    Net loss                                               ($2.7)
    Adjustment to reconcile net loss to net cash
    Provided by operating activities:
       Depreciation and amortization                        42.8
       Amortization of deferred financing fees               1.0
       Interest income from Series A & B Warrants           (3.9)
       Change in deferred income taxes                      (3.0)
       Asset impairments and other restructuring charges     2.4
       Minority interest                                     2.6
       Subsidiary preferred stock dividends                  0.2
       Compensation expense related to stock units           1.6
       Loss on early extinguishment of debt                 12.2
       Gain on sale of assets and businesses                (0.1)
       Changes in operating assets and liabilities:
          Receivables                                      (10.1)
          Inventories                                      (11.4)
          Prepaid expenses                                   1.4
          Accounts payable and accrued liabilities          39.7
       Chapter 11 items:
          Reorganization items                                 -
          Interest accrued on credit agreement                 -
          Payments related to Chapter 11 filings            (0.8)
                                                         -------
Cash Provided by Operating Activities                      $71.9

Cash Flows from Investing Activities:
    Purchase of property, plant & equipment               ($29.3)
    Proceeds from sale of assets and businesses              0.1
                                                        --------
Cash used for Investing Activities                        ($29.2)

Cash Flows from Financing Activities:
    Net proceeds from issuance of common stock            $117.0
    Redemption of New Senior Notes                         (96.7)
    Prepayment of New Term Loan                            (16.0)
    Repayment of long term debt                             (2.3)
    Change in borrowings under DIP facility                    -
    Repayment of notes                                      (7.1)
    Changes in bank borrowing and revolving facility           -
                                                        --------
Cash Provided (Used for) by Financing Activities           ($5.1)
                                                        --------
Effect of Exchange Rate Changes on Cash                     (0.8)
                                                        --------
    Increase in cash and cash equivalents                   36.8

Cash and Cash Equivalents at beginning of period            48.5
                                                        --------
Cash and Cash Equivalents at end of period                 $85.3
                                                        ========


IMPATH INC: Files Amended April 2004 Monthly Operating Report
-------------------------------------------------------------
On June 10, 2004, IMPATH Inc. and its other debtor-in-possession
subsidiaries filed an amended monthly operating report with the
United States Bankruptcy Court for the Southern District of New
York amending the monthly operating report of the Company for the
period of April 1, 2004 to April 30, 2004. The amended monthly
operating report replaces in its entirety the monthly operating
report attached as an exhibit to the Company's Current Report on
Form 8-K filed on June 9, 2004.

Impath Inc. reports a $19.9 million net loss in April 2004:

   Total Revenue                $   12,198,793
   Gross Profit                      6,697,432
   Total Operating Expenses         13,931,706
   Operating Income - EBIT          (1,732,912)
   Net Loss                    $    19,957,440

compared to a net loss of $4.2 million in March 2004.


A full-text copy of Impath Inc.'s Amended April 2004 Monthly
Operating Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1003114/000090951804000545/jd6-14ex_99.txt


Chief Restructuring Officer Holly Etlin advises that this report
does not include a balance sheet "due to the ongoing
reconciliation of the Debtor's accounting records."

IMPATH Inc. and five affiliates filed for chapter 11 protection in
the U.S. Bankruptcy Court for the Southern District of New York
(Bankr. Case No. 03-16113).  Impath is represented George A.
Davis, Esq., at Weil, Gotshal & Manges LLP.


INSILCO HOLDING: Reports $13 Million in Assets At May 31, 2004
--------------------------------------------------------------
For the month ending May 31, 2004, Insilco Holding Co., reports no
income and no expenses.  At May 31, 2004, on a consolidated basis,
Insilco reports $13 million in total assets, $51 million in
current liabilities and $211 million in long-term debt.  

A full-text copy of Insilco's March 2004 Monthly Operating Report
is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1068049/000107261304001159/exhibit99_12749.txt


Insilco International Holding Company is a holding company and
Signal Caribe is a nonoperating company and thus there is no
activity to report for these two companies.

The following companies were sold in March 2003 and thus have no
activity for the current or future reporting periods:

Precision Cable Manufacturing                 02-13675
Stewart Stamping Corporation                  02-13678
EFI Metal Forming, Inc.                       02-13677
Eyelets for Industry, Inc.                    02-13676
Stewart Connector Systems                     02-13679
Signal Transformer Co. Inc.                   02-13681
InNet Technologies                            02-13673


On December 16, 2002, Insilco Holding Co., the parent Company of
Insilco Technologies, Inc., and seven of its subsidiaries (Insilco
International Holding, Inc., Precision Cable Mfg. Co. Inc.,
Stewart Stamping Corporation, InNet Technologies, Inc., Stewart
Connector Systems, Inc., Eyelets For Industry, Inc., and its
subsidiary EFI Metal Forming, Inc., and Signal Transformer Co.,
Inc., and its subsidiary Signal Caribe, Inc.) filed voluntary
petitions for relief under Chapter 11 of the United States
Bankruptcy Code with the United States Bankruptcy Court for the
District of Delaware, Case No. 02-13672.


MIRANT CORP: Reports $30 Million Income in First Quarter 2004
-------------------------------------------------------------
A full-text copy of Mirant Corporation's Form 10-Q Report is
available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1010775/000104746904019350/a2137808z10-q.htm


               Mirant Corporation and Subsidiaries
              Unaudited Consolidated Balance Sheet
                      As of March 31, 2004

ASSETS   
   
Cash and cash equivalents                         $1,574,000,000
Funds on deposit                                     133,000,000
Receivables, net                                   1,219,000,000
Price risk management assets                         131,000,000
Inventories                                          258,000,000
Other                                                352,000,000
                                                 ---------------
     Total Current Assets                          3,667,000,000

Property, plant and equipment, net                 6,661,000,000
Non-current Assets:
  Goodwill, net of amortization                      587,000,000
  Other intangible assets, net                       289,000,000
  Investments                                        284,000,000
  Notes and other receivables                                  0
  Price risk management assets                       125,000,000
  Other                                              470,000,000
                                                 ---------------
     Total Non-current Assets                      1,755,000,000
                                                 ---------------
TOTAL ASSETS                                     $12,083,000,000
                                                 ===============

LIABILITIES AND EQUITY

Current Liabilities:
  Short-term debt                                    $29,000,000
  Current portion of long-term debt                  286,000,000
  Accounts payable and accrued liabilities           692,000,000
  Price risk management liabilities                  201,000,000
  Transition power agreements                        244,000,000
  Other                                              232,000,000
                                                 ---------------
     Total current liabilities                     1,684,000,000
Non-current Liabilities:
  Long-term debt                                   1,197,000,000
  Price risk management liabilities                  107,000,000
  Transition power agreements                         18,000,000
  Other                                              728,000,000
                                                 ---------------
     Total Non-current liabilities                 2,050,000,000

Liabilities subject to compromise                  8,979,000,000
Minority interest in subsidiaries                    153,000,000
Stockholders' Equity:
  Common stock                                         4,000,000
  Additional paid-in capital                       4,918,000,000
  Accumulated deficit                             (5,649,000,000)
  Accumulated other comprehensive loss               (54,000,000)
  Treasury stock, at cost                             (2,000,000)
                                                 ---------------
     TOTAL STOCKHOLDERS' DEFICIT                   ($783,000,000)
                                                 ---------------
     TOTAL LIABILITIES & STOCKHOLDERS DEFICIT    $12,083,000,000
                                                 ===============


               Mirant Corporation and Subsidiaries
           Unaudited Consolidated Statements of Income
            For the three months ended March 31, 2004

REVENUES:
  Generation                                      $1,029,000,000
  Integrated utilities and distribution              137,000,000
  Net trading revenue                                 18,000,000
                                                 ---------------
     Total Operating Revenues                      1,184,000,000

Cost of fuel, electricity and other products         733,000,000
                                                 ---------------
     Gross Margin                                    451,000,000
                                                 ---------------
OPERATING EXPENSES:
  Operations and maintenance                         247,000,000
  Depreciation and amortization                       80,000,000
  Impairment losses and restructuring charges          2,000,000
  Gain on sale of assets, net                        (16,000,000)
                                                 ---------------
     Total Operating Expenses                        313,000,000
                                                 ---------------
     Income before non-operating income   
     and expense                                     138,000,000
   
OTHER INCOME AND EXPENSES:
  Interest expense                                   (33,000,000)
  Interest rate hedging losses                                 0
  Gain on sales of investments, net                            0
  Equity in income of affiliates                       6,000,000
  Other, net                                          (3,000,000)
  Minority interest                                            0
  Interest income                                      3,000,000
                                                 ---------------
     Total other expense, net                        (27,000,000)

Income from continuing operations before taxes       111,000,000
Provision for income taxes                            19,000,000
Reorganization items, net                             57,000,000
Minority interest                                      5,000,000
                                                 ---------------
    Income from continuing operations                 30,000,000

Income(loss) from discontinued operations, net                 0
                                                 ---------------
Loss before change in accounting principle            30,000,000
                                                 ---------------
    NET INCOME                                       $30,000,000
                                                 ===============
   
   
               Mirant Corporation and Subsidiaries
         Unaudited Consolidated Statements of Cash Flows
            For the three months ended March 31, 2004

Cash Flows from Operating Activities:
Net income                                           $30,000,000
Adjustments:
  Equity in income of affiliates                      (6,000,000)
  Dividends received from equity investments           5,000,000
  Change in accounting principles                              0
  Restructuring charges                                        0
  Gain on sale of assets and investments             (16,000,000)
  Depreciation and amortization                       82,000,000
  Amortization of power agreements                  (116,000,000)
  Non-cash changes for reorganization items           42,000,000
  Amortization of transition power agreements                  0
  Price risk management activities, net              (36,000,000)
  Deferred income taxes                               14,000,000
  Minority interest                                            0
  Interest rate hedging losses                                 0
  Other, net                                          15,000,000
Change in operating assets and liabilities:  
  Receivables, net                                    17,000,000
  Other current assets                                 9,000,000
  Other assets                                        26,000,000
  Accounts payable and accrued liabilities          (109,000,000)
  Taxes accrued                                       14,000,000
  Other current liabilities                           (9,000,000)
  Other liabilities                                  (15,000,000)
                                                 ---------------
     Total adjustments                               (75,000,000)
                                                 ---------------
     Net cash provided by operating activities       (45,000,000)
                                                 ---------------
Cash Flows from Investing Activities:  
Capital expenditures                                 (27,000,000)
Cash paid for acquisitions                           (21,000,000)
Issuance of notes receivable                                   0
Repayments on notes receivable                                 0
Proceeds from the sale of assets                               0
Cash paid in relation to disposition                 (12,000,000)
                                                 ---------------
     Net cash provided by investing activities       (60,000,000)
                                                 ---------------
Cash Flows from Financing Activities:  
Proceeds from issuance of debt                       102,000,000
Repayment of long-term debt                          (86,000,000)
Payment dividends to minority interests               (1,000,000)
Change in debt service reserve fund                   37,000,000
                                                 ---------------
     Net cash from financing activities               52,000,000
                                                 ---------------
Exchange rate effect on cash                                   0
                                                 ---------------
Net increase in cash                                 (53,000,000)
Cash, beginning of period                          1,627,000,000
                                                 ---------------
Cash, end of period                               $1,574,000,000
                                                 ===============

Headquartered in Atlanta, Georgia, Mirant Corporation --
http://www.mirant.com/-- together with its direct and indirect  
subsidiaries, generate, sell and deliver electricity in North
America, the Philippines and the Caribbean.  The Company filed for
chapter 11 protection on July 14, 2003 (Bankr. N.D. Tex. 03-
46590).  Thomas E. Lauria, Esq., at White & Case LLP represent the
Debtors in their restructuring efforts.  When the Company filed
for protection from their creditors, they listed $20,574,000,000
in assets and $11,401,000,000 in debts. (Mirant Bankruptcy News,
Issue No. 36; Bankruptcy Creditors' Service, Inc., 215/945-7000)


MISSISSIPPI CHEMICAL: April Net Loss Narrows to $1.4 Million
------------------------------------------------------------
On June 15, 2004, Mississippi Chemical Corporation and its
domestic subsidiaries filed its Monthly Operating Report for the
month ended April 30, 2004 with the Securities and Exchange
Commission. The Company reports a net loss of $1,469,000 in April
compared to a $34,552,000 net loss in March 2004. The Company's
consolidated balance sheet shows:

      Total Assets                $434,011,000
      Total Current Liabilities    130,451,000
      Liabilities Subject
         to Compromise             285,494,000
      Shareholders' Deficit         37,425,000

A full-text copy of Mississippi Chemical Corporation's April 2004
Monthly Operating Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/66895/000006689504000019/exhibit991.htm


On May 15, 2003, Mississippi Chemical Corporation and its domestic
subsidiaries filed voluntary petitions for relief under Chapter 11
of Title 11 of the United States Code in the United States
Bankruptcy Court for the Southern District of Mississippi.  


PG&E NATIONAL: Energy Service Jan. 2004 Monthly Operating Report
----------------------------------------------------------------

                  Energy Service Ventures, Inc.
                     Unaudited Balance Sheet
                      As of January 31, 2004

                              ASSETS

Current Assets
    Cash                                              $1,947,571
    Prepetition Accounts Receivable                    3,525,141
    Postpetition Accounts Receivable                           -
    Receivables from Officers/Employees/Affiliates             -
    Notes Receivable Stocks                                    -
    Inventory                                                  -
    Other Current Assets
       Allowance for Bad Debts                        (2,791,840)
       Deposits                                                -
       Current Tax Assets                                      -
                                                  --------------
Total Current Assets                                   2,680,872

Fixed Assets
    Land                                                       -
    Building                                                   -
    Equipment, Furniture & Fixtures                            -
    Less Accumulated Depreciation                              -
                                                  --------------
Total Fixed Assets                                             -

Other Assets (Identify)
    Amortizable Costs                                          -
    Deferred Tax Assets                             Undetermined
    Investments in Subsidiaries                                -
                                                  --------------
Total Other Assets                                             -
                                                  --------------
TOTAL ASSETS                                        Undetermined
                                                  ==============

                      LIABILITIES AND EQUITY

Postpetition Liabilities
    Accounts Payable                                     $74,082
    Notes Payable                                              -
    Rent and Leases Payable                                    -
    Accrued Interest                                           -
    Other                                                      -
                                                  --------------
Total Postpetition Liabilities                            74,082

Prepetition Liabilities
    Priority Claims                                            -
    Secured Debts                                              -
    Unsecured Debts                                 Undetermined
                                                  --------------
Total Prepetition Liabilities                       Undetermined

Owner's Equity (Deficit)
    Capital Stock/Owners' Investments                     10,000
    Paid-In Capital Surplus                           55,048,465
    Retained Earnings
       Prepetition                                   (76,394,062)
       Postpetition                                      (76,616)
                                                  --------------
Total Owner's Equity                                ($21,412,212)
                                                  --------------
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY          Undetermined
                                                  ==============


                  Energy Service Ventures, Inc.
                    Unaudited Income Statement
           For the Period January 1 to January 31, 2004

Total Sales/Income                                            $0

COST OF SALES:
    Purchases of Inventory                                     0
    Purchased Services                                         0
    Other                                                      0
                                                  --------------
Total Cost of Sales                                            0
                                                  --------------
Gross Profit                                                   0

OPERATING EXPENSES:
    Officer Salaries                                           0
    Other Employee Salaries                                    0
    Taxes (Payroll)                                            0
    Employee Benefits                                          0
    Advertising                                                0
    Auto. Expenses                                             0
    Entertainment                                              0
    Insurance (Real Estate)                                    0
    Insurance (Other)                                          0
    Leases (Other than Rent)                                   0
    Outside Services & Contractors                             0
    Professional Fees (Atty. Accts.)                           0
    Restructuring Expense                                   (846)
    Repairs & Maintenance                                      0
    Supplies                                                   0
    Taxes (Real Property)                                      0
    Taxes (Other)                                              0
    Telephone                                                  0
    Travel                                                     0
    Utilities                                                  0

    Other Operating Expenses
       Power costs                                             -
       Bank Fees                                               -
                                                  --------------
Total Operating Expenses                                    (846)
                                                  --------------
Profit/Loss from Operation                                   846

Other Income (Expenses):
    Interest Income                                            -
    Interest Expense                                           -
    Equity Earnings                                            -
                                                  --------------
Total Other Income (Expenses)                                  -
                                                  --------------
Income Before Taxes                                          846
Income Taxes Expense                                         321
                                                  --------------
Net Income (Loss)                                           $524
                                                  ==============


                  Energy Service Ventures, Inc.
                    Cash Reconciliation Report
           For the Period January 1 to January 31, 2004

Cash balance from prior balance sheet                 $1,946,725
Net income for month                                         524

Expense Not Requiring Cash:
    Taxes                                                    321
    Interest Income                                            -
                                                  --------------
Total Expenses Not Requiring Cash                            321
                                                  --------------
Total Cash from Operations                             1,947,571

Other sources/uses of cash:
    Decrease (Increase):
       Accounts Receivable                                     -
       Inventory                                               -
       Equipment                                               -
       Furniture & Fixtures                                    -
       Prepaids                                                -
    Increase (Decrease):
       Accounts Payable                                        -
       Accrued Interest                                        -
       Accrued P/R Taxes                                       -
       Accrued Professional Fees                               -
       Accrued Rent                                            -
       Accrued Salaries                                        -
       Accrued Sales Tax                                       -
       Note Payable Taxes                                      -
    (Less) Unrecorded Bank Service Charges                     -
                                                  --------------
Total Other Sources & Uses of Cash                             -
                                                  --------------
Ending Cash Balance                                   $1,947,571
                                                  ==============


PG&E NATIONAL: ET GAS January 2004 Monthly Operating Report
-----------------------------------------------------------

                NEGT Energy Trading-Gas Corporation
                      Unaudited Balance Sheet
                      As of January 31, 2004

                              ASSETS

Current Assets
    Cash                                             $10,449,553
    Accounts Receivable                               68,218,267
    Valuation from Unrealized Commodity Contracts   Undetermined
    Receivables from Officers/Employees/Affiliates  Undetermined
    Notes Receivable Stocks                                    0
    Inventory                                                  0
    Other Current Assets
       Deposits                                       89,908,768
       Prepayments                                    14,642,630
       Other Current Assets                            3,113,514
                                                  --------------
Total Current Assets                                Undetermined

Fixed Assets
    Land                                                       0
    Building                                                   0
    Equipment, Furniture & Fixtures                   21,635,392
    Less Accumulated Depreciation                    (19,920,260)
                                                  --------------
Total Fixed Assets                                     1,715,132

Other Assets (Identify)
    Accrued taxes                                   Undetermined
                                                  --------------
Total Other Assets                                  Undetermined
                                                  --------------
TOTAL ASSETS                                        Undetermined
                                                  ==============

                      LIABILITIES AND EQUITY

Postpetition Liabilities
    Accounts Payable                                          $0
    Accrued Quarterly Fees                                   250
    Notes Payable                                              0
    Rent and Leases Payable                                    0
    Taxes Payable                                              0
    Accrued Interest                                           0
    Other:
       Accrued Legal fees                                      0
       Accrued Payroll and Benefits                       18,536
                                                  --------------
Total Postpetition Liabilities                           $18,786

Prepetition Liabilities
    Priority Claims                                 Undetermined
    Secured Debts                                   Undetermined
    Unsecured Debts                                 Undetermined
                                                  --------------
Total Prepetition Liabilities                       Undetermined

Owner's Equity (Deficit)
    Capital Stock/Owner's Investments                          -
    Paid-In Capital Surplus                         Undetermined
    Retained Earnings (deficit)
       Prepetition                                  Undetermined
       Postpetition                                 Undetermined
                                                  --------------
Total Owner's Equity                                Undetermined
                                                  --------------
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY          Undetermined
                                                  ==============


               NEGT Energy Trading-Gas Corporation
                    Unaudited Income Statement
           For the Period January 1 to January 31, 2004

Total Sales/Income                                        $2,710

COST OF SALES:
    Purchases of Inventory                                     0
    Purchased Services                                         0
    Other: (Identify)
       Purchase of Commodities                            30,815
                                                  --------------
Total Cost of Sales                                       30,815
                                                  --------------
Gross Profit                                             (28,105)

OPERATING EXPENSES:
    Bad Debt Expense                                           0
    Bank Charges                                           1,404
    Communications                                             0
    Computer Supplies                                          0
    Credit & Commitment Fees                                   0
    Datefees                                               4,164
    Fixed Assets Depreciation                            152,932
    Indirect Allocations                                  20,341
    Insurance                                                  0
    Legal Fees                                           375,000
    Recruiting & Relocation                                9,127
    Realized(Gain)/Loss on Foreign Exchange                3,090
    Rent                                                       0
    Unrealized(Gain)/Loss on Foreign Exchange                  0
    Office Supplies                                          (85)
    Other                                                    199
    Payroll and benefits                                 196,807
    Professional Fees                                      4,204
    Subscriptions                                          2,025
    Taxes Other than Income                                1,045
    Training                                                   0
                                                  --------------
Total Operating Expenses                                 770,256
                                                  --------------
Profit/Loss from Operation                              (798,361)

Other Income (Expenses):
    Interest Income                                      180,870
    Interest Expense                                           0
    Equity in Subsidiaries                                     0
    Other Income(Expenses)                                     0
                                                  --------------
Total Other Income (Expenses)                            180,870
                                                  --------------
Income Before Taxes                                    ($617,490)
Income Taxes Expense (Benefit)                      Undetermined
                                                  --------------
Net Income                                          Undetermined
                                                  ==============


               NEGT Energy Trading-Gas Corporation
                    Cash Reconciliation Report
           For the Period January 1 to January 31, 2004

Cash balance from prior balance sheet                $10,448,166
Pre-tax Net income for month                            (617,490)

Income/Expenses Not Requiring Cash:
    Depreciation                                         152,932
    Unrealized (Gain) Loss on Foreign Exchange                 0
                                                  --------------
Total Expenses Not Requiring Cash                        152,932
                                                  --------------
Total Cash from Operations                             9,983,608

Other sources/uses of cash:
    Decrease (Incr):
       Accounts Receivable Non-Affiliate                 537,960
       Accounts Receivable Affiliate                           0
       Inventory                                               0
       Equipment                                               0
       Furniture & Fixtures                                    0
       Prepaids                                          500,000
       Deposits                                          350,975
       Other Current Assets                                    0
    Increase (Decr):
       Accounts Payable Non-Affiliate                 (1,075,125)
       Accounts Payable Affiliate                        152,634
       Accrued Liabilities                                  (500)
       Current Deferred Liabilities                            0
       Accrued Interest                                        0
       Accrued P/R Taxes                                       0
       Accrued Salaries                                        0
       Accrued Sales Tax                                       0
       Note Payable Taxes                                      0
       Tax Liability                                           0
                                                  --------------
Total Other Sources & Uses of Cash                       465,944
                                                  --------------
Ending Cash Balance                                  $10,449,553
                                                  ==============


PG&E NATIONAL: ET Holdings January 2004 Monthly Operating Report
----------------------------------------------------------------

             NEGT Energy Trading Holdings Corporation
                     Unaudited Balance Sheet
                      As of January 31, 2004

                              ASSETS

Current Assets
    Cash                                            $269,840,447
    Accounts Receivable                                  227,138
    Receivables from Officers/Employees/Affiliates  Undetermined
    Notes Receivable Stocks                                    0
    Inventory                                                  0
    Other Current Assets
       Accrued taxes                                Undetermined
                                                  --------------
Total Current Assets                                Undetermined

Fixed Assets
    Land                                                       0
    Building                                                   0
    Equipment, Furniture & Fixtures                            0
    Less Accumulated Depreciation                              0
    Other Fixed Assets                                         0
                                                  --------------
Total Fixed Assets                                             0

Other Assets (Identify)
    Investments in Subsidiaries                     Undetermined
                                                  --------------
Total Other Assets                                  Undetermined
                                                  --------------
TOTAL ASSETS                                        Undetermined
                                                  ==============

                      LIABILITIES AND EQUITY

Postpetition Liabilities
    Accounts Payable                                          $0
    Notes Payable                                              0
    Rent and Leases Payable                                    0
    Taxes Payable                                              0
    Accrued Interest                                           0
    Other:
       Accrued Quarterly Fees                              5,000
       Accrued Legal Fees                              1,095,322
       Accrued Payroll and Benefits                       69,560
                                                  --------------
Total Postpetition Liabilities                        $1,169,882

Prepetition Liabilities
    Priority Claims                                 Undetermined
    Secured Debts                                   Undetermined
    Unsecured Debts                                 Undetermined
                                                  --------------
Total Prepetition Liabilities                       Undetermined

Owner's Equity (Deficit)
    Capital Stock/Owner's Investments               Undetermined
    Paid-In Capital Surplus                         Undetermined
    Retained Earnings
       Prepetition                                  Undetermined
       Postpetition                                 Undetermined
                                                  --------------
Total Owner's Equity                                Undetermined
                                                  --------------
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY          Undetermined
                                                  ==============


             NEGT Energy Trading Holdings Corporation
                    Unaudited Income Statement
           For the Period January 1 to January 31, 2004

Total Sales/Income                                            $0

COST OF SALES:
    Purchases of Inventory                                     0
    Purchased Services                                         0
    Other                                                      0
                                                  --------------
Total Cost of Sales                                            0
                                                  --------------
Gross Profit                                                   0

OPERATING EXPENSES:
    Communications                                           435
    Computer Supplies                                     10,467
    Credit/Commitment Fees                                55,231
    Datafeeds                                              6,346
    Indirect Allocations                              (1,023,938)
    Legal Fees                                           375,000
    Misc. Tax Payments                                   146,825
    Office Supplies                                           85
    Other                                                     50
    Other Business Expenses                                    0
    Payroll and benefits                                 430,903
    Postage & Delivery                                         0
    Professional Fees                                     17,498
    Recruiting & Relocation                               (9,127)
    Rent                                                       0
    Software Costs                                         6,625
    Subscriptions                                              0
    Training                                                   0
    Travel                                                     0
    US Trustees                                            5,000
                                                  --------------
Total Operating Expenses                                  21,404
                                                  --------------
Profit/Loss from Operation                               (21,404)

Other Income (Expenses):
    Interest Income                                      227,720
    Interest Expense                                    (200,794)
    Equity in Subsidiary:
       Investment in ET Power                             (8,212)
       Investment in ET Investment                      (244,026)
       Investment in ET Gas Corp.                       (373,272)
       Investment in NEGT International                   97,192
                                                  --------------
Total Other Income (Expenses)                           (501,391)
                                                  --------------
Income Before Taxes                                    ($522,795)
Income Taxes Expense (Benefit)                      Undetermined
                                                  --------------
Net Income                                          Undetermined
                                                  ==============


             NEGT Energy Trading Holdings Corporation
                    Cash Reconciliation Report
           For the Period January 1 to January 31, 2004


Cash balance from prior balance sheet               $269,338,118
Pre-tax Net income for month                            (522,795)

Expense Not Requiring Cash:
    Depreciation                                               0
    Investment in ET Power                                 8,212
    Investment in ET Investment                          244,026
    Investment in ET Gas Corp.                           373,272
    Investment in NEGT International                     (97,192)
                                                  --------------
Total Expenses Not Requiring Cash                        528,318
                                                  --------------
Total Cash from Operations                           269,343,640

Other sources/uses of cash:
    Decrease (Incr):
       Accounts Receivable Non-Affiliate                  (9,528)
       Accounts Receivable Affiliate                    (827,408)
       Inventory                                               0
       Equipment                                               0
       Furniture & Fixtures                                    0
       Prepaids                                          (28,689)
    Increase (Decr):
       Accounts Payable - Non-Affiliate                  688,276
       Accounts Payable - Affiliate                      (43,000)
       Accrued Liabilities                                (3,000)
       Accrued Interest                                        0
       Accrued P/R Taxes                                       0
       Accrued Professional Fees                        (279,843)
       Accrued Salaries                                        0
       Accrued Sales Tax                                       0
       Note Payable Taxes                                      0
       Tax Liability                                           0
       (Less) Unrecorded Bank Service Charges                  0
                                                  --------------
Total Other Sources & Uses of Cash                      (503,192)
                                                  --------------
Ending Cash Balance                                 $269,840,447
                                                  ==============


PG&E NATIONAL: ET Investments Jan. 2004 Monthly Operating Report
----------------------------------------------------------------

                 NEGT ET Investments Corporation
                     Unaudited Balance Sheet
                      As of January 31, 2004

                              ASSETS

Current Assets
    Cash                                                      $0
    Accounts Receivable                                        0
    Receivables from Officers/Employees/Affiliates  Undetermined
    Notes Receivable Stocks                                    0
    Inventory                                                  0
    Other Current Assets                                       0
                                                  --------------
Total Current Assets                                Undetermined

Fixed Assets
    Land                                                       0
    Building                                                   0
    Equipment, Furniture & Fixtures                            0
    Less Accumulated Depreciation                              0
                                                  --------------
Total Fixed Assets                                             0

Other Assets (Identify)
    Investment in Subsidiaries                      Undetermined
                                                  --------------
Total Other Assets                                  Undetermined
                                                  --------------
TOTAL ASSETS                                        Undetermined
                                                  ==============

                      LIABILITIES AND EQUITY

Postpetition Liabilities
    Accounts Payable                                          $0
    Accrued Quarterly Fees                                   250
    Notes Payable                                              0
    Rent and Leases Payable                                    0
    Taxes Payable                                              0
    Accrued Interest                                           0
    Other                                                      0
                                                  --------------
Total Postpetition Liabilities                               250

Prepetition Liabilities
    Priority Claims                                 Undetermined
    Secured Debts                                   Undetermined
    Unsecured Debts                                 Undetermined
                                                  --------------
Total Prepetition Liabilities                       Undetermined

Owner's Equity (Deficit)
    Capital Stock, Owner's Investments              Undetermined
    Paid-In Capital Surplus                         Undetermined
    Retained Earnings (deficit)
       Prepetition                                  Undetermined
       Postpetition                                 Undetermined
                                                  --------------
Total Owner's Equity                                Undetermined
                                                  --------------
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY          Undetermined
                                                  ==============


                 NEGT ET Investments Corporation
                    Unaudited Income Statement
           For the Period January 1 to January 31, 2004

Total Sales/Income                                             -

COST OF SALES:
    Purchases of Inventory                                     -
    Purchased Services                                         -
    Other (Identify)                                           -
                                                  --------------
Total Cost of Sales                                           $0
                                                  --------------
Gross Profit                                                   0

OPERATING EXPENSES:
    Officer Salaries                                           -
    Other Employee Salaries                                    -
    Taxes (Payroll)                                            -
    Employee Benefits                                          -
    Advertising                                                -
    Auto Expenses                                              -
    Entertainment                                              -
    Insurance (Real Estate)                                    -
    Insurance (Other)                                          -
    Leases (Other than Rent)                                   -
    Outside Services & Contractors                             -
    Professional Fees (Atty. Acct.)                            -
    Rent                                                       -
    Repairs & Maintenance                                      -
    Supplies                                                   -
    Taxes (Real Property)                                      -
    Taxes (Other)                                              -
    Telephone                                                  -
    Travel                                                     -
    Utilities                                                  -
    Other                                                    250
    Other Operating Expenses (Identify)                        -
                                                  --------------
Total Operating Expenses                                     250
                                                  --------------
Profit/Loss from Operation                                  (250)

Other Income (Expenses):
    Interest Expense                                      (1,040)
    Equity in ET Power                                  (402,392)
                                                  --------------
Total Other Income (Expenses)                           (403,433)
                                                  --------------
Income Before Taxes                                    ($403,683)
Income Taxes Expense (Benefit)                      Undetermined
                                                  --------------
Net Income                                          Undetermined
                                                  ==============


                 NEGT ET Investments Corporation
                    Cash Reconciliation Report
           For the Period January 1 to January 31, 2004

Cash balance from prior balance sheet                         $0
Pre-tax Net income for month                            (403,683)

Expense Not Requiring Cash:
    Depreciation                                               0
    Other: Investment in Subsidiaries                    402,392
                                                  --------------
Total Expenses Not Requiring Cash                        402,392
                                                  --------------
Total Cash from Operations                                (1,290)

Other sources/uses of cash:
    Decrease (Incr):
       Accounts Receivable                                     0
       Inventory                                               0
       Equipment                                               0
       Furniture & Fixtures                                    0
    Increase (Decr):
       Accounts Payable                                        0
       Accounts Payable - Affiliate                        1,290
       Accounts Payable - Interest Payable                     0
       Accrued Interest                                        0
       Accrued P/R Taxes                                       0
       Accrued Professional Fees                               0
       Accrued Rent                                            0
       Accrued Salaries                                        0
       Accrued Sales Tax                                       0
       Note Payable Taxes                                      0
       Taxes Payable                                           0
       (Less) Unrecorded Bank Service Charges                  0
                                                  --------------
Total Other Sources & Uses of Cash                         1,290
                                                  --------------
Ending Cash Balance                                           $0
                                                  ==============


PG&E NATIONAL: ET Power January 2004 Monthly Operating Report
-------------------------------------------------------------

                   NEGT Energy Trading-Power L.P.
                      Unaudited Balance Sheet
                      As of January 31, 2004

                              ASSETS

Current Assets
    Cash                                             $26,990,290
    Accounts Receivable                              192,403,084
    Valuation from Unrealized Commodity Contracts   Undetermined
    Receivables from Officers/Employees/Affiliates  Undetermined
    Notes Receivable Stocks                                    0
    Inventory                                                  0
    Other Current Assets
       Deposits                                       90,943,436
       Prepaids                                        1,078,425
       Other Current Assets                                    0
                                                  --------------
Total Current Assets                                Undetermined

Fixed Assets
    Land                                                       -
    Building                                                   -
    Equipment, Furniture & Fixtures                    3,503,316
    Less Accumulated Depreciation                     (2,880,166)
    Other Fixed Assets                                         -
                                                  --------------
Total Fixed Assets                                       623,149

Other Assets (Identify)                                        -
                                                  --------------
Total Other Assets                                             0
                                                  --------------
TOTAL ASSETS                                        Undetermined
                                                  ==============

                      LIABILITIES AND EQUITY

Postpetition Liabilities
    Accounts Payable                                          $0
    Accrued Quarterly Fees                                   250
    Notes Payable                                              0
    Rent and Leases Payable                                    0
    Taxes Payable                                              0
    Accrued Interest                                           0
    Other                                                      -
                                                  --------------
Total Postpetition Liabilities                              $250

Prepetition Liabilities
    Priority Claims                                 Undetermined
    Secured Debts                                   Undetermined
    Unsecured Debts                                 Undetermined
                                                  --------------
Total Prepetition Liabilities                       Undetermined

Owner's Equity (Deficit)
    Capital Stock/ Owner's Investments              Undetermined
    Paid-In Capital Surplus                         Undetermined
    Retained Earnings (deficit)
       Prepetition                                  Undetermined
       Postpetition                                 Undetermined
                                                  --------------
Total Owner's Equity                                Undetermined
                                                  --------------
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY          Undetermined
                                                  ==============


                  NEGT Energy Trading-Power L.P.
                    Unaudited Income Statement
           For the Period January 1 to January 31, 2004

Total Sales/Income                                      $391,238

COST OF SALES:
    Purchases of Inventory                                     0
    Purchased Services                                         0
    Other: (Identify)                                          0
       Cost of Commodities                               153,759
                                                  --------------
Total Cost of Sales                                      153,759
                                                  --------------
Gross Profit                                             237,478

OPERATING EXPENSES:
    Bank Fee Charges                                          63
    Bad Debt Expense                                           0
    Communications                                             0
    Entertainment                                              0
    Fixed Assets Depreciation                             27,316
    Indirect Allocations                               1,048,800
    Realized(Gain)/Loss on Foreign Exchange                3,477
    Unrealized(Gain)/Loss on Foreign Exchange             (2,955)
    Other                                               (100,383)
    Training                                                   0
    Travel                                                     0
                                                  --------------
Total Operating Expenses                                 976,318
                                                  --------------
Profit/Loss from Operation                              (738,839)

Other Income (Expenses):
    Interest Income                                      328,235
    Other Income(Expenses)                                     0
                                                  --------------
Total Other Income (Expenses)                            328,235
                                                  --------------
Income Before Taxes                                    ($410,604)
Income Taxes Expense (Benefit)                      Undetermined
                                                  --------------
Net Income                                          Undetermined
                                                  ==============


                  NEGT Energy Trading-Power L.P.
                    Cash Reconciliation Report
           For the Period January 1 to January 31, 2004

Cash balance from prior balance sheet                $26,972,394
Pre-tax Net income for month                           (410,604)

Expense Not Requiring Cash:
    Depreciation                                          27,316
                                                  --------------
Total Expenses Not Requiring Cash                         24,360
                                                  --------------
Total Cash from Operations                            26,586,150

Other sources/uses of cash:
    Decrease (Incr):
       Accounts Receivable Non-Affiliate                (134,213)
       Accounts Receivable Affiliate                    (279,849)
       Inventory                                               0
       Equipment                                          18,000
       Furniture & Fixtures                                    0
       Prepaids                                           12,685
       Deposits                                                0
       Other Current Assets                                    0
    Increase (Decr):
       Accounts Payable Non-Affiliates                   (33,635)
       Accounts Payable Affiliates                       821,152
       Current Deferred Liabilities                            0
       Accrued Liabilities                                     0
       Accrued Interest                                        0
       Accrued P/R Taxes                                       0
       Accrued Professional Fees                               0
       Accrued Rent                                            0
       Accrued Salaries                                        0
       Accrued Sales Tax                                       0
       Note Payable Taxes                                      0
                                                  --------------
Total Other Sources & Uses of Cash                       404,140
                                                  --------------
Ending Cash Balance                                  $26,990,290
                                                  ==============


PG&E NATIONAL: USGen January 2004 Monthly Operating Report
----------------------------------------------------------

                      USGen New England, Inc.
                      Unaudited Balance Sheet
                      As of January 31, 2004

ASSETS

Cash and Cash Equivalents                           $152,176,423
Accounts Receivable                                  144,845,609
Support Payment Receivable - Current                Undetermined
Fuel, Inventory and Supplies                          48,099,570
Prepaid Expenses                                      41,617,900
Risk Management Asset - Current                                -
                                                  --------------
Total Current Assets                                Undetermined
Property, Plant and Equipment - net                1,489,529,845
Construction Work in Progress                         20,479,633
Intangible Asset                                       7,925,187
Support Payment Receivable - Non-current            Undetermined
Risk Management Asset - Non-current                            0
Other Assets                                                   0
                                                  --------------
Total Postpetition Assets                           Undetermined

Prepetition IC Accounts Receivable                  Undetermined
Prepetition Accounts Receivable                     Undetermined
Prepetition Prepaid Expenses                        Undetermined
                                                  --------------
Total Prepetition Assets                            Undetermined
                                                  --------------
TOTAL ASSETS                                        Undetermined
                                                  ==============

LIABILITIES AND EQUITY

Accounts Payable                                     $32,489,695
Accrued Liabilities                                   81,975,879
Risk Management Liability - Current                            -
                                                  --------------
Total Current Liabilities                            114,465,574

Deferred Income Taxes                                 61,415,614
Risk Management Liability - Non-current                        -
Other Liabilities                                      8,256,805
                                                  --------------
Total Postpetition Liabilities                       184,137,993

Prepetition Accounts Payable                        Undetermined
Prepetition IC Accounts Payable                     Undetermined
Prepetition Market Accounts Payable                 Undetermined
Current Debt                                          84,770,293
Out of Market Liabilities - Current                   34,339,340
Out of Market Liabilities - Non-current              227,057,101
                                                  --------------
Total Prepetition Liabilities                       Undetermined
                                                  --------------
Total Liabilities                                   Undetermined

Shareholder's Equity
    Common Stock, Additional Paid-In Capital       1,347,736,929
    Other Comprehensive Income                        (3,413,754)
    Retained Earnings                               (261,007,492)
                                                  --------------
Total Shareholder's Equity                         1,083,315,683
                                                  --------------
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY          Undetermined
                                                  ==============


                     USGen New England, Inc.
                    Unaudited Income Statement
           For the Period January 1 to January 31, 2004

REVENUE:
    Contract Revenue                                 $61,741,988
    Market Energy                                     15,017,460
    Ancillary Products                                   408,316
    Market Capacity                                       62,050
    Power Hedges                                      (3,087,142)
    Other Revenue                                     (1,859,742)
                                                  --------------
Total Revenue                                         72,282,931

FUEL COSTS:
    Contract Expense                                   9,640,489
    Fuel Expense                                      26,885,167
    Fuel Hedges                                          (65,482)
                                                  --------------
Total Fuel Costs                                      36,460,174
                                                  --------------
Gross Profit                                          35,822,757

OPERATING EXPENSES:
    Direct Services                                    6,613,295
    Direct Materials                                   1,275,883
    Direct Subcontractor Services                        581,059
    Other Operating                                      188,093
    Bonus Accrual, Union and non-union                   422,462
    Ash Disposal                                       1,218,571
                                                  --------------
Total Station Operating Expenses                      10,299,362

Corporate Expense:
    Corporate Services                                   641,245
    Bonus                                                334,321
    Travel and Entertainment                               5,192
    Insurance                                            389,122
    Professional Services                              3,304,054
    Other General Administrative                         261,175
                                                  --------------
Total Corporate Expenses                               4,935,108

General Expenses:
    Property Taxes                                     3,266,040
    Interconnect Cost                                    110,735
    Amortization                                               -
    Depreciation                                       5,570,468
                                                  --------------
Total General Expenses                                 8,947,243
                                                  --------------
Total Operating Expenses                              24,181,713
                                                  --------------
Total Operating Income                                11,641,044

Other Income (Expenses):
    Lease Expense                                       (225,000)
    Interest Income - NEES Receivable                  2,062,438
    Income - Other                                       121,933
    Expense - Other                                          (52)
    Bank and LC Fees                                     (61,110)
                                                  --------------
Total Other Income (Expenses)                          1,898,210
                                                  --------------
Income Before Tax                                     13,539,254
Income Taxes                                           5,553,042
                                                  --------------
Net Income                                            $7,986,212
                                                  ==============


                     USGen New England, Inc.
                  Unaudited Cash Flow Statement
           For the Period January 1 to January 31, 2004

CASH FLOWS FROM OPERATING ACTIVITIES:
    Net Income                                        $7,986,212

Adjustments to reconcile net income to net
    cash provided by operating activities:
    Depreciation                                       5,570,468
    Amortization                                         747,374
    Loss on disposal of fixed assets                           -
    Unrealized gain/loss - net                                 -
    Unrecognizable hedge settlement                            -
    Amortization of out-of-market
       contractual obligations                        (3,700,954)
    Deferred Income taxes                            (13,786,054)

Change in assets and liabilities:
    Accounts receivable                              (15,004,249)
    Current tax receivable                                     -
    Fuel, inventory and supplies                      (1,557,681)
    Prepaid expenses and other assets                (14,146,400)
    Accounts payable and accrued liabilities          10,703,230
    Deferred revenue and other liabilities                73,018
    Prepetition accounts receivable                      381,961
    Prepetition accounts payable                      (1,994,761)
    PRM Assets and Liabilities                                 -
    Change in OCI - net                               18,469,628
                                                  --------------
Net cash (used in) provided by
    operating activities                              (6,258,209)

CASH FLOWS FROM INVESTING ACTIVITIES:
    Cash paid for capital expenditures                  (987,696)
    Support payments received - principal only         5,540,912
                                                  --------------
Net cash used in investing activities                  4,553,216

CASH FLOWS FROM FINANCING ACTIVITIES:
    Distributions to shareholders                              -
    (Decrease) Increase in Debt                                -
                                                  --------------
Net cash used in financing activities                          -
                                                  --------------
NET INCREASE IN CASH AND CASH EQUIVALENTS             (1,704,993)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD       153,881,415
                                                  --------------
CASH AND CASH EQUIVALENTS, END OF PERIOD            $152,176,423
                                                  ==============


PILLOWTEX CORP: Monthly Operating Report for April 2004
-------------------------------------------------------

                        Pillowtex, et al.
                        Actual Cash Flow
                  For the Month of April 2004
                         (In Thousands)

Accounts Receivable Collections                             $351
Brown & Joseph Fees                                            0
Brown & Joseph Personnel                                     (31)
Inventory Bulk Sales                                          (2)
Property Tax Related to Asset Sale                           (51)
Property(Net)                                                 (2)
Miscellaneous Proceeds                                         0
                                                      ----------
Total Proceeds                                               265

Prepetition Cure Cost of Capital Leases                        0
Balance of 2003 Personal Property Tax                          0
Alliance Street Production                                     0
Interest Expense(Term and Revolver)                            0
Idle Facility Cost                                           136
Electric Demand Charge                                         0
Retail Store Operating Costs                                   0
Warehousing, Shipping & Billing                                9
Freight & Duty                                                 0
Manufacturing                                                  0
Inventory Clean-up                                             0
Accrued Employee Expenses                                      0
Critical Vendor Payments                                       0
Continuing Medical                                             1
Terminated Medical                                             0
Workers' Compensation/Other Insurance                          0
Corporate                                                    150
Severance/Retention                                            0
Warehouse Vacation Pay                                         0
SB Capital Estate Charge Back                                  0
Early Termination Fee                                          0
DIP Fees                                                       0
Professional Fees                                            376
Miscellaneous Expenses                                        44
                                                      ----------
Total Expenses                                               716
                                                      ----------
Net Proceeds                                               ($451)
                                                      ==========


                        Pillowtex, et al.
                       Disbursement Report
                For the Month Ended April 30, 2004

Net Payroll & Payroll Taxes Paid                        $254,081
Sales, Use & Other Taxes Paid                              1,667
Inventory Purchases                                            0
Interest on Long Term Debt                                     0
Secured/Rental/Lease                                       1,270
Utilities                                                 19,095
Insurance                                                    974
Administrative                                             4,312
Professional Fees                                        372,961
U.S. Trustee's Fees                                       13,750
Others                                                   239,796
                                                     -----------
Total for U.S. Trustee Fees                             $907,906
                                                     ===========

Headquartered in Dallas, Texas, Pillowtex Corporation --
http://www.pillowtex.com/-- sells top-of-the-bed products to  
virtually every major retailer in the U.S. and Canada. The Company
filed for Chapter 11 protection on November 14, 2000 (Bankr. Del.
Case No. 00-4211).  David G. Heiman, Esq., at Jones, Day, Reavis &
Poque represents the Debtors in their restructuring efforts.  On
July 30, 2003, the Company listed $548,003,000 in assets and
$475,859,000 in debts. (Pillowtex Bankruptcy News, Issue No. 65;
Bankruptcy Creditors' Service, Inc., 215/945-7000)    


RCN CORP: Hot Spots Productions' Schedules of Assets & Liabilities
------------------------------------------------------------------

A.     Real Property                                          $0

B.     Personal Property
B.17   Other liquidated debts owed                         8,250

       TOTAL SCHEDULED ASSETS                             $8,250
        ========================================================

C.     Property Claimed as Exempt                Not Applicable

D.     Secured Claims
          JP Morgan Chase                             15,000,000
          JP Morgan Chase                            439,610,424

E.     Unsecured Priority Claims                               0

F.     Unsecured Non-Priority Claims                       6,143

       TOTAL SCHEDULED LIABILITIES                  $454,616,567
        ========================================================


RCN CORP: RCN Corp.'s Schedules of Assets and Liabilities
---------------------------------------------------------

A.     Real Property                                          $0

B.     Personal Property
B.1    Cash on Hand                                            0
B.2    Bank Accounts
          Merrill Lynch                                  774,636
          Other Checking Accounts                            180
B.3    Security Deposits                                       0
B.4    Household goods                                         0
B.5    Books, art work & collectibles                          0
B.6    Wearing apparel                                         0
B.7    Furs and jewelry                                        0
B.8    Firearms and sporting goods                             0
B.9    Interests in insurance policies                         0
B.10   Annuities                                               0
B.11   Interests in retirement plans                           0
B.12   Stock interests                                         0
B.13   Interests in Partnerships                               0
B.14   Bonds                                                   0
B.15   Accounts receivable                                     0
B.16   Alimony                                                 0
B.17   Other liquidated debts owed  
          RCN-BecoCom, LLC                               287,369
          RLH Property Corporation                     4,058,599
          RCN Entertainment, Inc.                        557,190
          RCN Finance, LLC                             2,289,911
          RFM 2, LLC                                  29,558,554
          ON TV, Inc.                                         44
B.18   Equitable and future interests                          0
B.19   Contingent interests                                    0
B.20   Other contingent & unliquidated claim s                 0
B.21   Patents, copyrights & trademarks                        0
B.22   Other intangibles                                       0
B.23   Automobiles                                             0
B.24   Boats                                                   0
B.25   Aircraft                                                0
B.26   Office equipment and supplies                           0
B.27   Machinery, furniture and fixtures                       0
B.28   Inventory                                               0
B.29   Animals                                                 0
B.30   Crops                                                   0
B.31   Farming equipment                                       0
B.32   Farm supplies                                           0
B.33   Other personal property                                 0

       TOTAL SCHEDULED ASSETS                        $37,526,483
        ========================================================

C.     Property Claimed as Exempt                 Not Applicable

D.     Secured Claims
          Evergreen Investment Mgt. Co., LLC         $27,520,442
          JP Morgan Chase                             15,000,000
          JP Morgan Chase                            439,610,424

E.     Unsecured Priority Claims                               0

F.     Unsecured Non-Priority Claims
          Debt
             HSBC Bank USA,                        1,183,498,503
          Undrawn Letters of Credit
             JP Morgan Chase - Reimbursement          11,857,987
          Accounts Payable
             Affinitas Corporation                     1,569,658
             Other Accounts Payable                        1,326
          Intercompany Liabilities
             RCN Entertainment, Inc.                     961,944
             RCN Finance, LLC                        677,478,041
             RCN Financial Mgt., Inc.                    289,366
             RCN-BecoCom, LLC                         72,662,917
             Others                                      104,628

       TOTAL SCHEDULED LIABILITIES                $2,430,555,236
        ========================================================


RCN CORP: RCN Finance, LLC's Schedules of Assets & Liabilities
--------------------------------------------------------------

A.     Real Property                                          $0

B.     Personal Property
B.17   Other liquidated debts owed
          RCN Financial Mgt., Inc.                   145,101,652
          RCN Corporation                            677,478,041


       TOTAL SCHEDULED ASSETS                       $822,579,693
        ========================================================

C.     Property Claimed as Exempt                 Not Applicable

D.     Secured Claims                                          0

E.     Unsecured Priority Claims                               0

F.     Unsecured Non-Priority Claims
          Intercompany Liabilities
             RCN Corporation                           2,298,911
             RCN Financial Mgt., Inc.                498,709,966
             RCN Telecom Services, Inc.                  280,777

       TOTAL SCHEDULED LIABILITIES                  $501,289,654
        ========================================================


RCN CORP: RLH Property's Schedules of Assets & Liabilities
----------------------------------------------------------

A.     Real Property                                          $0

B.     Personal Property
B.17   Other liquidated debts owed
          RCN Telecom Services, Inc.                      47,054
          RCN Telecom Services of Philadelphia            38,186
          RCN Financial Mgt., Inc.                    57,780,287
          RCN Corporation                                 55,795

       TOTAL SCHEDULED ASSETS                        $57,921,323
        ========================================================

C.     Property Claimed as Exempt                 Not Applicable

D.     Secured Claims                                          0

E.     Unsecured Priority Claims                               0

F.     Unsecured Non-Priority Claims
          Intercompany Liabilities
             RCN Corporation                           4,058,599
             RCN Financial Mgt., Inc.                  1,022,093
             RCN Telecom Services of Philadelphia      1,862,817
             RCN Telecom Services, LLC                43,539,403


       TOTAL SCHEDULED LIABILITIES                   $50,482,913
        ========================================================


RCN CORP: TEC Air's Schedules of Assets & Liabilities
-----------------------------------------------------

A.     Real Property                                          $0

B.     Personal Property
B.15   Accounts receivable                                58,048
B.17   Other liquidated debts owed                        99,108


       TOTAL SCHEDULED ASSETS                           $157,156
        ========================================================

C.     Property Claimed as Exempt                 Not Applicable

D.     Secured Claims
          JP Morgan Chase                             15,000,000
          JP Morgan Chase                            439,610,424

E.     Unsecured Priority Claims                               0

F.     Unsecured Non-Priority Claims
          Accounts Payable
             Bombardier, Inc.                            194,126
          Intercompany Liabilities
             RCN Entertainment, Inc.                         947
             RCN Financial Mgt., Inc.                  1,738,692
             RCN Financial Mgt., Inc.                     15,571
             RCN Telecom Services, Inc.                      967

       TOTAL SCHEDULED LIABILITIES                  $456,560,727
        ========================================================


SPIEGEL GROUP: Reports $109,300,000 Net Sales for May 2004
-----------------------------------------------------------------
The Spiegel Group reported net sales of $109.3 million for the
four weeks ended May 29, 2004, a 28 percent decrease compared to
net sales of $150.9 million for the four weeks ended May 24, 2003.

For the 21 weeks ended May 29, 2004, total sales declined 21
percent to $536.1 million from $680.0 million in the same period
last year.

The company also reported that comparable-store sales for its
Eddie Bauer division decreased 7 percent for the four-week period
and 2 percent for the 21-week period ended May 29, 2004, compared
to the same periods last year.

In 2003, net sales for May included $25.5 million in liquidation
sales resulting from the sale and transfer of inventory to an
independent liquidator in conjunction with the closing of 81
stores.  Excluding the liquidation sales, the Group's net sales
from retail and outlet stores fell 18 percent for the month
compared to the same period last year, reflecting a decline in
comparable-store sales and fewer stores compared to last year.

The Group's direct net sales (catalog and e-commerce) decreased 7
percent for the month compared to the same period last year,
primarily due to a planned reduction in catalog circulation.


THAXTON GROUP: Stockholders' Deficit is $15.6 Million at Apr 30
---------------------------------------------------------------
On May 28, 2004, The Thaxton Group filed its Monthly Operating
Report for April 2004 with the U.S. Bankruptcy Court for the
District of Delaware.  The company reports a cumulative net loss
of $19,058,512 on $40,157,204 revenue for the period from October
17, 2003 thru April 30, 2004.  At April 30, 2004, the Company's
balance sheet reflects:   

         Total Assets             $205,049,105   
         Total Liabilities         220,700,586
         Stockholders' Deficit      15,651,482

Thaxton reports $129,021.22 in post-petition debts.  

A full-text copy of Thaxton Group's March 2004 Monthly Operating
Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1001430/000119312504102149/dex991.htm


TWINLAB CORPORATION: Files May 2004 Monthly Operating Reports
-------------------------------------------------------------
On June 15, 2004, Twinlab Corporation (n/k/a TL Administration
Corporation ), Twin Laboratories Inc. (n/k/a TL Administration
Inc.) and Twin Laboratories (UK) Ltd. (n/k/a TL Administration
(UK) Ltd.) filed its Monthly Operating Reports for the month ended
May 31, 2004 with the Securities and Exchange Commission.  

At May 31, 2004, Twinlab Corporation (n/k/a TL Administration
Corporation) reports that it has no independent means of
generating revenue due to its non-operation.  As a holding
company, Twinlab's internal sources of funds to meet its cash
needs, including the payment of expenses, are dividends and other
permitted payments from its direct and indirect subsidiaries.

A full-text copy of Twinlab Corporation's May 2004 Monthly
Operating Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1015868/000095012304007402/0000950123-04-007402-index.htm


On September 4, 2003, Twinlab Corporation, Twin Laboratories Inc.
and Twin Laboratories (UK) Ltd. commenced voluntary cases under
chapter 11 of title 11 of the United States Code in the United
States Bankruptcy Court for the Southern District of New York.
These chapter 11 cases are being jointly administered under
chapter 11 case number 03-15564 (CB) and are pending before the
Honorable Cornelius Blackshear.

In addition, on September 4, 2003, the Companies entered into that
certain asset purchase agreement with IdeaSphere, Inc. of Grand
Rapids, Michigan, pursuant to which the Companies sold
substantially all of their assets. The sale closed on December 19,
2003, effective as of December 9, 2003. In connection with the
sale, the Debtors obtained an order from the Court authorizing
them to change their names. Twinlab Corporation changed its name
to TL Administration Corporation, Twin Laboratories Inc. changed
its name to TL Administration Inc. and Twin Laboratories (UK) Ltd.
changed its name to TL Administration (UK) Ltd.

The Debtors continue to operate as debtors-in-possession pursuant
to sections 1107(a) and 1108 of the Bankruptcy Code.


UAL CORP: Reports Highest-Ever May 2004 Passenger Load Factor
-------------------------------------------------------------
United Airlines (OTC BB: UALAQ.OB) reported its traffic results
for May 2004. For the second month in a row, United broke its
load-factor record for the month.  At 80.1%, United reached its
highest-ever May passenger load factor, up 2.9 points over May
2003 and 0.2 points above April 2004.  United's total scheduled
revenue passenger miles (RPMs) increased in May 2004 by 21.6% on a
capacity increase of 17.2% available seat miles (ASMs) vs. the
same period in 2003.

                                 2004          2003      Percent
                                 May           May       Change
                                 --------      --------  -------
Scheduled Service Only:
   Revenue Plane Miles         66,070,000    58,545,000    12.9
   Number Of Departures            51,344        48,082     6.8
   Revenue Passengers           5,995,000     5,360,000    11.8

Revenue Passenger Miles (000):
   North America                6,192,363     5,549,533    11.6
   Pacific                      1,872,658     1,005,775    86.2
   Atlantic                     1,318,121     1,078,969    22.2
   Latin America                  247,921       286,220   -13.4
   System                       9,631,063     7,920,497    21.6

Available Seat Miles (000):
   North America                7,915,569     7,084,049    11.7
   Pacific                      2,203,232     1,458,331    51.1
   Atlantic                     1,572,120     1,312,287    19.8
   Latin America                  333,008       406,439   -18.1
   System                      12,023,929    10,261,106    17.2

   Passenger Load Factor (Percent):
   North America                     78.2          78.3    -0.1
   Pacific                           85.0          69.0    16.0
   Atlantic                          83.8          82.2     1.6
   Latin America                     74.4          70.4     4.0
   System                            80.1          77.2     2.9

Cargo Ton Miles (000):
   Freight                        135,588       118,575    14.3
   Mail                            29,843        31,189    -6.8
   System                         165,431       149,764    10.5

Total System Inc Charter (000):
   Revenue Passenger Miles      9,635,895     8,017,415    20.2
   Available Seat Miles        12,035,566    10,377,390    16.0
   Revenue Psgr. Km.           15,507,046    12,902,426    20.2
   Available Seat Km.          19,368,836    16,700,334    16.0
   Total Revenue Ton Miles      1,129,020       951,503    18.7
   Total Avail. Ton Miles       1,898,895     1,614,595    17.6
   Total Rev. Ton Km.           1,637,163     1,379,873    18.7
   Total Avail. Ton Km.         2,772,387     2,357,309    17.6


                                      Year To Date
                                -----------------------  Percent
                                  2004           2003    Change
                                --------       --------  -------

Scheduled Service Only:
   Revenue Plane Miles        321,625,000   305,906,000     5.1
   Number Of Departures           250,389       246,045     1.8
   Revenue Passengers          27,789,000    26,132,000     6.3

Revenue Passenger Miles (000):
   North America               28,415,670    26,451,044     7.4
   Pacific                      9,178,684     6,975,046    31.6
   Atlantic                     5,942,526     5,056,655    17.5
   Latin America                1,535,356     1,561,076    -1.6
   System                      45,072,236    40,043,821    12.6

Available Seat Miles (000):
   North America               37,947,590    35,992,793     5.4
   Pacific                     10,945,148     9,994,318     9.5
   Atlantic                     7,525,099     6,918,296   -10.5
   Latin America                2,002,391     2,236,711   -10.5
   System                      58,420,228    55,142,118     5.9

Passenger Load Factor (Percent):
   North America                     74.9          73.5     1.4
   Pacific                           83.9          69.8    14.1
   Atlantic                          79.0          73.1     5.9
   Latin America                     76.7          69.8     6.9
   System                            77.2          72.6     4.6

Cargo Ton Miles (000):
   Freight                        604,997       671,646    -9.9
   Mail                           154,007       157,548    -2.2
   System                         759,004       829,194    -8.5

Total System Inc Charter (000):
   Revenue Passenger Miles     45,365,773    40,442,093    12.2
   Available Seat Miles        58,778,694    55,621,763     5.7
   Revenue Psgr. Km.           73,007,138    65,083,460    12.2
   Available Seat Km.          94,592,552    89,512,103     8.7
   Total Revenue Ton Miles      5,295,604     4,873,690     8.7
   Total Avail. Ton Miles       9,276,825     8,784,985     5.6
   Total Rev. Ton Km.           7,678,786     7,068,134     8.7
   Total Avail. Ton Km.        13,544,165    12,826,078     5.6


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

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.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

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., Fairless Hills, Pennsylvania,
USA, and Beard Group, Inc., Frederick, Maryland USA.  The TCR is
published every Monday through Saturday except on New Year's Day,
Good Friday, Christmas Eve, Christmas Day and New Year's Eve.  
Yvonne L. Metzler, Bernadette C. de Roda, Rizande B. Delos Santos,
Paulo Jose A. Solana, Jazel P. Laureno, Aileen M. Quijano and
Peter A. Chapman, Editors.

Copyright 2004.  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
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The TCR subscription rate is $675 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 240/629-3300.

                    *** End of Transmission ***