TCR_Public/050806.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, August 6, 2005, Vol. 9, No. 185

                          Headlines

ADELPHIA COMMS: Posts $54.3 Million Net Loss in June 2005
ADELPHIA COMMS: Century/ML's June 2005 Monthly Operating Report
ALLIED HOLDINGS: Consolidated Balance Sheet at March 31, 2005
ATA AIRLINES: Posts $27 Million Net Loss in June 2005
CATHOLIC CHURCH: Spokane's June 2005 Monthly Operating Report

CATHOLIC CHURCH: Tucson's June 2005 Monthly Operating Report
COMMERCE ONE: Posts $576,643 Net Loss in June 2005
FIRST VIRTUAL: Posts $141,803 Net Loss in June 2005
FOOTSTAR INC: Posts $300,000 Net Loss for Period Ended July 2
FRESH CHOICE: Posts $99,523 Net Loss for Period Ended July 10

KAISER ALUMINUM: Posts $4.8 Million Net Loss in June 2005
KUSHNER-LOCKE: Releases May 2005 Monthly Operating Reports
NEWPOWER HOLDINGS: Files June 2005 Monthly Operating Report
OWENS CORNING: Posts $5.8 Million Net Loss in May 2005
SOLUTIA INC: Earns $4 Million of Net Income in June 2005

TOWER AUTOMOTIVE: Posts $124.5 Million Net Loss in June 2005
UAL CORP: Posts $1.2 Billion Net Loss in June 2005
US AIRWAYS: Earns $8.6 Million of Net Income in June 2005


                          *********

ADELPHIA COMMS: Posts $54.3 Million Net Loss in June 2005
---------------------------------------------------------

             Adelphia Communications Corporation, et al.
                 Unaudited Consolidated Balance Sheet
                        As of June 30, 2005
                       (Dollars in thousands)

                               ASSETS

Cash and cash equivalents                              $306,744
Restricted cash                                          28,185
Accounts receivables - net                              107,769
Other current assets                                    187,250
                                                    -----------
Total current assets                                    629,948

Restricted cash                                           3,079
Investments in equity affiliates                        225,696
Receivables from non-filing entities                    775,908
Property, plant and equipment - net                   4,230,192
Intangible assets - net                               7,344,925
Other noncurrent assets - net                            90,880
                                                    -----------
Total Assets                                        $13,300,628
                                                    ===========

                LIABILITIES AND STOCKHOLDERS' EQUITY

Accounts payable                                        $92,119
Subscriber advance payments and deposits                 30,494
Accrued liabilities                                     528,477
Deferred revenue                                         25,966
Current portion of parent and subsidiary debt           727,786
                                                    -----------
Total current liabilities                             1,404,842

Other liabilities                                        34,890
Deferred revenue                                         73,426
Deferred income taxes                                   864,414
                                                    -----------
Total noncurrent liabilities                            972,730

Liabilities subject to compromise                    18,465,898
                                                    -----------
Total liabilities                                    20,843,470

Minority interests                                       87,372

Stockholders' equity:
    Series preferred stock                                  397
    Class A and Class B common stock                      2,548
    Additional paid-in capital                        9,567,026
    Accumulated other comprehensive income                   28
    Accumulated deficit                             (17,172,276)
    Treasury stock, at cost                             (27,937)
                                                    -----------
Total stockholders' equity                           (7,630,214)
                                                    -----------
Total liabilities and stockholders' equity          $13,300,628
                                                    ===========

             Adelphia Communications Corporation, et al.
           Unaudited Consolidated Statements of Operations
                     Month Ended June 30, 2005
                       (Dollars in thousands)

Revenue                                                $349,899
Cost and expenses:
    Direct operating and programming                    219,059
    Selling, general and administrative                  23,981
    Investigation and re-audit fees                         771
    Depreciation and amortization                        80,786
    Impairment of long-lived and other assets                 -
    Gains on dispositions of long-lived assets                -
                                                    -----------
Operating income (loss)                                  25,302

Other income (expense):
    Interest expense                                    (39,612)
    Impairment of cost & available for sale investments      (7)
    Other expense - net                                 (21,194)
                                                    -----------
       Total other expense - net                        (60,813)
                                                    -----------
Loss from continuing operations before
reorganization expenses                                 (35,511)

Reorganization expenses due to bankruptcy                  (359)
                                                    -----------
Loss from continuing operations before income taxes     (35,870)
Income tax expense                                      (18,600)
Share of losses of equity affiliates - net                  (15)
Minority's interest in subsidiary losses - net              136
                                                    -----------
Net loss                                               ($54,349)
                                                    ===========

             Adelphia Communications Corporation, et al.
           Unaudited Consolidated Statements of Cash Flows
                     Month Ended June 30, 2005
                       (Dollars in thousands)

Cash flows from operating activities:
    Net loss                                           ($54,349)
    Adjustments to reconcile net loss to net cash
    provided by (used in) operating activities:
       Depreciation and amortization                     80,786
       Gains on dispositions of long-lived assets             -
       Amortization of debt issuance costs                  516
       Impairment of cost & available for sale investments    7
       Provision for settlements                         22,308
       Reorganization expenses due to bankruptcy            359
       Deferred tax expense (benefit)                    19,140
       Share in losses of equity affiliates - net            15
       Minority interest in losses of subsidiaries         (136)
       Other non-cash gains                              (1,396)
       Depreciation, amortization and other non-cash
          items from discontinued operations                  -
       Change in operating assets & liabilities         (35,460)
                                                    -----------
Net cash provided by operating activities before
payment of reorganization expenses                       31,790

Reorganization expenses paid during the period           (8,167)
                                                    -----------
Net cash provided by (used in) operating activities      23,623

Cash flows from investing activities:
    Expenditures for property, plant and equipment      (51,703)
    Changes in restricted cash                           (2,694)
    Other                                                (8,075)
                                                    -----------
Net cash used in investing activities                   (62,472)

Cash flows from financing activities:
    Proceeds from debt                                   19,000
    Repayments of debt                                   (1,320)
    Payment of debt issuance costs                            -
                                                    -----------
Net cash provided by financing activities                17,680

Change in cash and cash equivalents cash                (21,169)

Cash, beginning of period                               327,913
                                                    -----------
Cash, end of period                                    $306,744
                                                    ===========

Headquartered in Coudersport, Pennsylvania, Adelphia
Communications Corporation (OTC: ADELQ) is the fifth-largest cable
television company in the country.  Adelphia serves customers in
30 states and Puerto Rico, and offers analog and digital video
services, high-speed Internet access and other advanced services
over its broadband networks.  The Company and its more than 200
affiliates filed for Chapter 11 protection in the Southern
District of New York on June 25, 2002.  Those cases are jointly
administered under case number 02-41729.  Willkie Farr & Gallagher
represents the ACOM Debtors.  (Adelphia Bankruptcy News, Issue No.
101; Bankruptcy Creditors' Service, Inc., 215/945-7000)


ADELPHIA COMMS: Century/ML's June 2005 Monthly Operating Report
---------------------------------------------------------------

                      Century-ML Cable Venture
                       (Debtor-In-Possession)
                      Unaudited Balance Sheet
                        As of June 30, 2005
                       (Dollars in thousands)

                                ASSETS

Cash and cash equivalents                               $20,435
Subscriber receivables, net                                 284
Investment in Century-ML Corporation                    142,975
Related-party receivables                                   231
Other current assets                                        428
                                                       --------
Total current assets                                    164,353

Property, plant and equipment, net                        6,007
Intangible assets, net                                    1,528
                                                       --------
     Total assets                                      $171,888
                                                       ========

               LIABILITIES AND STOCKHOLDERS' EQUITY

Subscriber advance payments and deposits                    $91
Accrued expenses and other liabilities                    2,770
Intercompany payables                                     3,126
                                                       --------
Total current liabilities                                 5,987
                                                       --------

Long-term accrued and other liabilities
Deferred revenues                                           127
Deferred income taxes                                        45
                                                       --------
Total non-current liabilities                               172

Liabilities subject to compromise:
     Accrued expenses and other liabilities               1,279
     Intercompany payables                               10,690
                                                       --------
        Total liabilities subject to compromise          11,969
                                                       --------
        Total liabilities                                18,128
                                                       --------
Partners' equity:
     Partners' contributions                             56,800
     Partners' retained earnings                         96,960
                                                       --------
     Total partners' equity                             153,760
                                                       --------
     Total liabilities and partners' equity            $171,888
                                                       ========

                      Century-ML Cable Venture
                       (Debtor-In-Possession)
                 Unaudited Statement of Operations
                  For the Month Ended June 30, 2005
                       (Dollars in thousands)

Revenue                                                  $1,110

Cost and expenses:
     Direct operating and programming                       548
     Selling, general and administrative                     33
     Management fees                                         59
     Non-recurring professional fees                          -
     Depreciation                                            55
                                                       --------
     Operating income before reorganization
        expenses due to bankruptcy                          415

Reorganization expenses due to bankruptcy                    92
                                                       --------
Operating income                                            323
     Interest income, net                                    31
     Equity in net income of Century-ML Cable
        Corporation, net of taxes                           975
                                                       --------
Income before income taxes                                1,329
     Income tax expense                                    (103)
                                                       --------
Net income                                               $1,226
                                                       ========

                      Century-ML Cable Venture
                       (Debtor-In-Possession)
                  Unaudited Statement of Cash Flows
                  For the Month Ended June 30, 2005
                       (Dollars in thousands)

Cash flow from operating activities:
Net income                                               $1,226
     Adjustments to reconcile net income
         to net cash provided by (used in)
         operating activities:
     Depreciation                                            55
     Reorganization expenses due to bankruptcy               92
     Non-recurring professional fees                          -
     Equity in net income of Century-ML Cable
        Corp., net of taxes                                (975)
     Change in assets and liabilities:
        Subscriber receivables, net                          71
        Prepaid expenses and other assets, net              (38)
        Accounts payable                                      -
        Subscriber advance payments and deposits              -
        Accrued expenses and other liabilities              (41)
        Intercompany receivables and payables - net         249
                                                       --------
Net cash provided by operating activities                   639
                                                       --------
Cash flows from investing activities:
     Expenditures from property, plant and equipment        (51)
                                                       --------
Net cash used in investing activities                       (51)
                                                       --------
Change in cash and cash equivalents                         588
Cash and cash equivalents, beginning of period           19,847
                                                       --------
Cash and cash equivalents, end of period                $20,435
                                                       ========

Headquartered in Coudersport, Pennsylvania, Adelphia
Communications Corporation (OTC: ADELQ) is the fifth-largest cable
television company in the country.  Adelphia serves customers in
30 states and Puerto Rico, and offers analog and digital video
services, high-speed Internet access and other advanced services
over its broadband networks.  The Company and its more than 200
affiliates filed for Chapter 11 protection in the Southern
District of New York on June 25, 2002.  Those cases are jointly
administered under case number 02-41729.  Willkie Farr & Gallagher
represents the ACOM Debtors.  (Adelphia Bankruptcy News, Issue No.
101; Bankruptcy Creditors' Service, Inc., 215/945-7000)


ALLIED HOLDINGS: Consolidated Balance Sheet at March 31, 2005
-------------------------------------------------------------

              Allied Holdings, Inc., and Subsidiaries
              Consolidated Balance Sheets (Unaudited)
                        At March 31, 2005

ASSETS

Current assets:
Cash and cash equivalents                            $3,922,000
Restricted cash and cash equivalents                 30,799,000
Receivables, net of allowances                       56,255,000
Inventories                                           4,797,000
Deferred income taxes                                 4,775,000
Prepayments and other current assets                 24,175,000
                                                   ------------
Total current assets                                124,723,000
                                                   ------------
Property & equipment,
   net of accumulated depreciation                  131,697,000
Goodwill, net                                        83,680,000

Other assets:
Restricted cash and cash equivalents                 62,434,000
Other noncurrent assets                              36,515,000
                                                   ------------
   Total other assets                                98,949,000
                                                   ------------
Total assets                                       $439,049,000
                                                   ============

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities:
Current maturities of long-term debt                $13,500,000
Borrowings under revolving credit facilities         16,815,000
Accounts and notes payable                           38,778,000
Accrued liabilities                                  99,254,000
                                                   ------------
Total current liabilities                           168,347,000
                                                   ------------
Long-term debt, less current maturities             230,601,000
Postretirement benefits other than pensions           4,868,000
Deferred income taxes                                16,214,000
Other long-term liabilities                          70,888,000
Commitments and contingencies                                 -

Stockholders' deficit:
Preferred stock, no par value                                 -
Common stock, no par value                                    -
Additional paid-in capital                           48,464,000
Treasury stock, 139 shares at cost                     (707,000)
Accumulated deficit                                 (98,965,000)
Accumulated other comprehensive loss, net of tax       (661,000)

Total stockholders' deficit                         (51,869,000)
                                                   ------------
Total liabilities and stockholders' deficit        $439,049,000
                                                   ============

Headquartered in Decatur, Georgia, Allied Holdings, Inc. --
http://www.alliedholdings.com/-- and its affiliates provide
short-haul services for original equipment manufacturers and
provide logistical services.  The Company and 22 of its affiliates
filed for chapter 11 protection on July 31, 2005 (Bankr. N.D. Ga.
Case Nos. 05-12515 through 05-12537).  Jeffrey W. Kelley, Esq., at
Troutman Sanders, LLP, represents the Debtors in their
restructuring efforts.  When the Debtors filed for protection from
their creditors, they estimated more than $100 million in assets
and debts. (Allied Holdings Bankruptcy News, Issue No. 01;
Bankruptcy Creditors' Service, Inc., 215/945-7000)


ATA AIRLINES: Posts $27 Million Net Loss in June 2005
-----------------------------------------------------

               ATA Holdings Corp. and Subsidiaries
                     Unaudited Balance Sheet
                      As of June 30, 2005

ASSETS

Current assets:
   Cash and cash equivalents                        $80,944,000
   Receivables,
     net of allowance for doubtful accounts         136,171,000
   Inventories, net                                  36,317,000
   Assets held for sale                               2,000,000
   Prepaid expenses and other current assets         38,065,000
                                                 --------------
      TOTAL CURRENT ASSETS                          293,497,000

Property and equipment:
   Flight equipment                                 174,035,000
   Facilities and ground equipment                  142,159,000
   Accumulated depreciation                        (170,850,000)
                                                 --------------
TOTAL PROPERTY AND EQUIPMENT                        145,344,000

   Restricted cash                                   31,072,000
   Goodwill                                           6,987,000
   Prepaid aircraft rent                                179,000
   Investment in BATA                                 6,005,000
   Deposits and other assets                         25,272,000
                                                 --------------
      TOTAL ASSETS                                 $508,356,000
                                                 ==============

LIABILITIES AND SHAREHOLDERS' DEFICIT

Current liabilities:
   Short-term debt                                   41,000,000
   Accounts payable                                   4,410,000
   Air traffic liabilities                           89,714,000
   Accrued expenses                                 131,763,000
                                                 --------------
Total current liabilities                           266,887,000

Deferred items                                       32,817,000
Liabilities subject to compromise                 1,516,689,000

Commitments and contingencies

Convertible redeemable preferred stock               30,000,000

Shareholders' deficit:
   Preferred stock; authorized 9,999,200 shares               -
   Common stock, without par value; authorized       66,013,000
   Treasury stock;                                  (24,778,000)
   Additional paid-in capital                        18,166,000
   Accumulated deficit                           (1,397,438,000)
                                                 --------------
      TOTAL SHAREHOLDERS' DEFICIT                (1,338,037,000)
                                                 --------------
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT        $508,356,000
                                                 ==============

                ATA Holdings Corp. and Subsidiaries
                    Unaudited Income Statement
                 For the Month Ended June 30, 2005

Operating revenues:
   Scheduled service                                $62,666,000
   Charter                                           32,585,000
   Ground package                                     1,342,000
   Other                                              3,378,000
                                                 --------------
      Total operating revenues                       99,971,000

Operating expenses:
   Salaries, wages and benefits                      21,698,000
   Fuel and oil                                      26,918,000
   Aircraft rentals                                  12,500,000
   Handling, landing and navigation fees              7,762,000
   Aircraft maintenance, materials and repairs        2,255,000
   Crew and other employee travel                     3,362,000
   Depreciation and amortization                      2,474,000
   Passenger service                                  2,773,000
   Other selling expenses                             2,731,000
   Commissions                                        2,034,000
   Facilities and other rentals                       1,835,000
   Insurance                                           (200,000)
   Ground package cost                                1,073,000
   Advertising                                          644,000
   Aircraft impairments and retirements                       0
   Other                                              3,874,000
                                                 --------------
      TOTAL OPERATING EXPENSES                       91,733,000

Operating loss                                        8,238,000

Other income (expense):
   Interest income                                      289,000
   Interest expense                                    (511,000)
   Reorganization expenses                          (35,185,000)
   Other                                                129,000
                                                 --------------
   TOTAL OTHER EXPENSE                              (35,278,000)
                                                 --------------
Loss before income taxes                            (27,040,000)

   Income taxes                                               -
                                                 --------------
Net loss                                           ($27,040,000)
                                                 ==============

               ATA Holdings Corp. and Subsidiaries
                         Cash Flow Report
                 For the Month Ended June 30, 2005

Cash Flows from Operating Activities:
Net income before reorganization expenses            $8,145,000

Adjustments to reconcile net income:
   Depreciation and amortization                      2,474,000
   Other non-cash items                                 554,000

Changes in operating assets and liabilities:
   Receivables                                       (9,124,000)
   Inventories                                       (2,253,000)
   Prepaid expenses                                  (6,705,000)
   Accounts payable                                    (544,000)
   Air traffic liabilities                            3,616,000
   Liabilities subject to compromise                 (2,854,000)
   Accrued expenses                                   6,496,000
                                                 --------------
NET CASH (USED IN) OPERATING ACTIVITIES                (195,000)

Cash Flows from Reorganization activities:
   Reorganization items , net                       (35,185,000)
   Prepaid expenses                                     197,000
   Liabilities subject to compromise                 34,452,000
   Accrued expenses                                    (622,000)
   Impairment loss                                     (131,000)
   Assets held for sale                               1,250,000
   Receivables                                         (140,000)
   Other non-cash items                                (438,000)
                                                 --------------
NET CASH (USED IN) REORGANIZATION ACTIVITIES           (617,000)

Cash Flows from Investing Activities:
   Capital expenditures                              (1,547,000)
   Noncurrent prepaid aircraft rent                       8,000
   Reductions to other assets                           149,000
   Proceeds from sales of property and equipment        504,000
                                                 --------------
NET CASH (USED IN) INVESTING ACTIVITIES                (886,000)

Cash Flows from Financing Activities:
   Decrease in restricted cash                          989,000
                                                 --------------
NET CASH PROVIDED BY FINANCING ACTIVITIES               989,000
                                                 --------------
Decrease in cash and cash equivalents                  (709,000)

Cash and cash equivalents, beginning of period       81,653,000
                                                 --------------
Cash and cash equivalents, end of period            $80,944,000
                                                 ==============

Headquartered in Indianapolis, Indiana, ATA Airlines, owned by ATA
Holdings Corp. -- http://www.ata.com/-- is the nation's 10th
largest passenger carrier (based on revenue passenger miles) and
one of the nation's largest low-fare carriers.  ATA has one of the
youngest, most fuel-efficient fleets among the major carriers,
featuring the new Boeing 737-800 and 757-300 aircraft.  The
airline operates significant scheduled service from Chicago-
Midway, Hawaii, Indianapolis, New York and San Francisco to over
40 business and vacation destinations.  Stock of parent company,
ATA Holdings Corp., is traded on the Nasdaq Stock Exchange.  The
Company and its debtor-affiliates filed for chapter 11 protection
on Oct. 26, 2004 (Bankr. S.D. Ind. Case Nos. 04-19866, 04-19868
through 04-19874).  Terry E. Hall, Esq., at Baker & Daniels,
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
$745,159,000 in total assets and $940,521,000 in total debts.
(ATA Airlines Bankruptcy News, Issue No. 30; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


CATHOLIC CHURCH: Spokane's June 2005 Monthly Operating Report
-------------------------------------------------------------

                   Catholic Diocese of Spokane
                          Balance Sheet
                       As of June 30, 2005

ASSETS
   Total Cash Accounts                               $3,694,239
   Total Investments                                  3,910,757
   Total Property                                       495,004
   Total Loans Receivable                             3,033,553
   Total Interfund Loan Receivable                      396,887
   Total Accounts Receivable                             59,176
   Total Land and Buildings & Equip                   2,272,137
   Total Prepaid Expenses                                37,880
                                                 --------------
Total Assets                                        $13,899,633
                                                 ==============

LIABILITIES AND NET ASSETS

Liabilities
   Total Deposits Payable                             5,516,111
   Total Interest Payable                                     0
   Total Accounts Payable                               (48,023)

Net Assets
   Total Unrestricted - Fund Balance                 (4,360,480)
   Total Unrestricted Net Assets                     (4,360,480)
   T.R. - Guse Grant Funds                              221,825
   T.R. - Bishop's School Grants Funds                    2,077
   Total Replacement Fund                             9,852,993
   Total Diocesan D&L Funding                         2,176,115
   Total Guatemala Funds                                617,670
   Temporarily Restricted                               145,247
                                                 --------------
Total liabilities & net assets                      $13,899,633
                                                 ==============

                   Catholic Diocese of Spokane
                  Income and Expense Statement
               For the month ending June 30, 2005

Total Income                                           $566,334
Total Expenses                                          828,479
                                                 --------------
Net Excess or Deficit                                  $262,145
                                                 ==============

                     Catholic Diocese of Spokane
           Statement of Cash Receipts and Disbursements
                    June 1, 2005 to June 30, 2005

Total Cash Receipts                                    $885,333
Total Cash Disbursements                              ($796,868)


A full-text copy of the Diocese of Spokane's June 2005 monthly
operating report is available for free at:

         http://bankrupt.com/misc/spokane_june_MOR.pdf

The Roman Catholic Church of the Diocese of Spokane filed for
chapter 11 protection (Bankr. E.D. Wash. Case No. 04-08822) on
Dec. 6, 2004.  Michael J. Paukert, Esq., at Paine, Hamblen,
Coffin, Brooke & Miller, LLP, represents the Spokane Diocese in
its restructuring efforts.  When the Debtor filed for protection
from its creditors, it listed $11,162,938 in total assets and
$81,364,055 in total debts. (Catholic Church Bankruptcy News,
Issue No. 36; Bankruptcy Creditors' Service, Inc., 215/945-7000)


CATHOLIC CHURCH: Tucson's June 2005 Monthly Operating Report
------------------------------------------------------------

        The Roman Catholic Church of the Diocese of Tucson
                   an Arizona Corporation Sole
           (Unaudited) Statement of Financial Condition
                      As of June 30, 2005

ASSETS                                    Total   Diocese-Owned
                                          -----   -------------
Cash on hand                             $1,500          $1,500
Cash in Banks                           546,586         443,391
Cash Equivalents                      2,633,822       1,904,206
Accounts receivable, net              5,512,806       5,512,806
Allowance for doubtful accounts      (1,212,406)     (1,212,406)
Grants receivable                       251,500         251,500
Pledges receivable                        6,000           6,000
A/R held in trust for others             65,446               0
Due from administered funds              61,580          61,580
Prepaid expenses & other assets          48,517          48,517
Investments in businesses             6,248,123       5,673,067
Corp. & Gov't. bond investments         765,383         440,383
Investment in BPIC                       80,850          80,850
Notes receivable, net                 2,070,886         290,817
Allowance for doubtful
   notes receivable                    (323,878)              0
Assets securing 2002 settlement       3,000,000       3,000,000
Construction in progress                 48,867          48,867
Land, buildings, and equipment          295,155         295,155
Assets held for sale                     10,900          10,900
Land held for future parish sites       339,801         339,801
                                 --------------  --------------
                                    $20,453,438     $17,196,934
                                 ==============  ==============

LIABILITIES AND NET ASSETS

Liabilities:
   Accounts payable - post            1,342,976       1,342,976
   Accounts payable - pre                43,255          43,255
   Accrued expenses - post              596,036         596,036
   Accrued expenses - pre               157,682         157,682
   Interfunds payable                    61,580               0
   Accrued insurance claims             266,889         266,889
   Deferred revenue                       1,500           1,500
   Unsecured long-term debt - pre     2,061,455       2,061,455
   Unsecured long-term debt - post      100,000         100,000
   Unrestricted parish deposits       6,963,934       6,962,867
   Restricted parish deposits         2,710,800               0
   Secured long-term debt             2,674,888       2,674,888
   Custodial funds                      483,057               0
                                 --------------  --------------
      Total Liabilities              17,464,052      14,207,548
                                 --------------  --------------

Net Assets:
   Unrestricted/temporarily
     restricted                       1,080,498       1,080,498
   Permanently restricted             1,908,888       1,908,888
                                 --------------  --------------
Total liabilities & net assets      $20,453,438     $17,196,934
                                 ==============  ==============

        The Roman Catholic Church of the Diocese of Tucson
                   an Arizona Corporation Sole
        Statement of Operations and Charges in Net Assets
               June 1, 2005 through June 30, 2005

Revenues
   Contributions, grants and bequests                     $(943)
   Chancery assessment                                  250,522
   Priests salary subsidy                                35,806
   Fees for services                                     14,420
   Advertising revenue                                    5,892
   Retreat fees                                               0
   Rental Income                                          4,397
   Insurance                                           (265,430)
   Investment Income                                     53,083
   Gain on sale of land                               2,829,305
   Miscellaneous                                          1,213
                                                 --------------
   Total Support & Revenue                            2,928,265

Expense
   Program Services:
      Archives                                            1,582
      Catholic Commitments & Social Services              1,083
      Evangelization & Hispanic Ministry                  6,803
      Catechesis Office                                   8,471
      Formation Office                                    5,301
      Department of Catholic Schools                     25,479
      Clergy, religious & seminarian advancement         17,592
      Parish Assistance                                  21,610
      Catholic Social Mission                             5,378

   Supporting Services:
      Offices of the Bishop, et al.                      38,412
      Office of Women Religious                           2,352
      General & Administrative                            5,540
      Fiscal & Employee Services                         52,355
      Office of Child, Adolescent, et al. Protection     19,750
      Communications & Community Relations                9,688
      Property Management                                34,247
      Insurance Administration                            3,577
      Reorganization                                    574,970

Imputed interest on settlement                           14,095
Provision for doubtful accounts                           5,833
Depreciation                                              3,737
                                                 --------------
   Total Expenses                                       857,855
                                                 --------------
Excess (deficiency) of revenues over expenses        $2,070,410
                                                 ==============

        The Roman Catholic Church of the Diocese of Tucson
                   an Arizona Corporation Sole
            Current Month's Receipts and Disbursements
                 June 1, 2005 through June 30, 2005

Cash and Bank Balance:
   Beginning of Month                                  $448,748

Receipts
   Cash Sales                                            36,077
   Accounts Receivable -- Prepetition                    18,685
   Accounts Receivable -- Postpetition                  451,021
   Loans and Advances                                         0
   Sale of Assets                                             0
   Transfers in from other accounts                     171,844
   Other -- Custodial Funds                                 382
   Other -- Payroll Reimbursements                            0
   Credit Adjustments                                       541
                                                 --------------
   Total Receipts                                       678,550

Disbursements:
   Business -- Ordinary Operations                      301,800
   Capital Improvements                                       0
   Prepetition Debt                                           0
   Transfers to other DIP Accounts                      171,844
   Other -- Custodial Funds                               5,229
   Other -- TRF to Wells Fargo Investment                     0
   Other -- Payroll Reimbursement                             0

Reorganization Expenses:
   Attorney Fees                                        196,806
   Accountant Fees                                        8,228
   Other Professional Fees                                    0
   Other (Advertising)                                        0
   U.S. Trustee Quarterly Fee                                 0
   Court Costs                                                0
                                                 --------------
   Total Disbursements                                  683,908
                                                 --------------
Cash & Bank Balance -- End of Month                    $443,391
                                                 ==============

The Roman Catholic Church of the Diocese of Tucson filed for
chapter 11 protection (Bankr. D. Ariz. Case No. 04-04721) on
September 20, 2004, and delivered a plan of reorganization to the
Court on the same day.  Susan G. Boswell, Esq., Kasey C. Nye,
Esq., at Quarles & Brady Streich Lang LLP, represent the Tucson
Diocese.  (Catholic Church Bankruptcy News, Issue No. 36;
Bankruptcy Creditors' Service, Inc., 215/945-7000)


COMMERCE ONE: Posts $576,643 Net Loss in June 2005
--------------------------------------------------
On August 2, 2005, Commerce One, Inc. (n/k/a CO Liquidation, Inc.)
filed its monthly operating report for the month ending June 30,
2005, with the United States Bankruptcy Court for the Northern
District of California.

The Company posted a $576,643 net loss on zero sales for June
2005.

At June 30, 2005, Commerce One's balance sheet showed:

      Current Assets                $14,018,950
      Total Assets                   14,018,950
      Current Liabilities               200,625
      Total Liabilities               7,036,649
      Total Stockholder's Equity      6,982,301

A full-text copy of Commerce One's June 2005 Monthly Operating
Report is available at no charge at:

            http://ResearchArchives.com/t/s?a8

Headquartered in San Francisco, California, Commerce One, Inc.
(n/k/a CO Liquidation, Inc.) -- http://www.commerceone.com/--  
provides software services that enable businesses to conduct
commerce over the Internet.  Commerce One, Inc., and its wholly
owned subsidiary, Commerce One Operations, Inc., filed for chapter
11 protection on Oct. 6, 2004 (Bankr. N.D. Calif. Case Nos. 04-
32820 and 04-32821).  Doris A. Kaelin, Esq., and Lovee Sarenas,
Esq., at Murray and Murray, represent the Debtors in their
restructuring efforts.  When the Debtors filed for bankruptcy,
they listed $14,531,000 in total assets and $12,442,000 in total
debts.  As of December 2, 2004, Commerce One estimates that its
liabilities owed to creditors total approximately $9.7 million,
including approximately $5.1 million owed to ComVest.  The Company
expects that total liabilities will continue to increase over
time.


FIRST VIRTUAL: Posts $141,803 Net Loss in June 2005
---------------------------------------------------
On July 26, 2005, First Virtual Communications, Inc., and its
debtor-affiliate, CUseeMe Networks, Inc., filed their monthly
operating report for the month of June 2005 with the U.S.
Bankruptcy Court for the Northern District of California.

The Debtors reported a $141,803 net loss on zero net sales for
June 2005.  The Debtors also reported a cumulative net profit of
$4,187,563 on $1,984,925 of net sales from Jan. 20, 2005, through
June 30, 2005.

At June 30, 2005, First Virtual's consolidated balance sheet
showed:

      Total Current Assets                       $2,285,507
      Total Assets                                2,285,507
      Current Liabilities                           261,105
      Total Liabilities                           2,333,378
      Shareholders' Deficit                         $47,871

A full-text copy of First Virtual's June 2005 Monthly Operating
Report is available at no charge at:

             http://ResearchArchives.com/t/s?a9

Headquartered in Redwood City, California, First Virtual
Communications, Inc. -- http://www.fvc.com/-- delivers integrated
software technologies for rich media web conferencing and
collaboration solutions.  The Company and its affiliate - CUseeMe
Networks, Inc. -- filed for chapter 11 protection on Jan. 20, 2005
(Bankr. N.D. Calif. Case No. 05-30145).  Kurt E. Ramlo, Esq., at
Skadden, Arps, Slate, Meagher & Flom represents the Debtors in
their restructuring efforts.  When the Debtor filed for protection
from its creditors, it listed $7,485,867 in total assets and
$13,567,985 in total debts.


FOOTSTAR INC: Posts $300,000 Net Loss for Period Ended July 2
-------------------------------------------------------------
On July 29, 2005, Footstar, Inc., and its debtor-affiliates filed
their monthly operating report for the period from May 29, 2005,
to July 2, 2005, with the U.S. Bankruptcy Court for the Southern
District of New York.

The Debtors reported a $300,000 net loss on $75,300,000 of net
sales for the period from May 29, 2005, to July 2, 2005.  The
Debtors also reported a cumulative net loss of $41,800,000 on
$1,063,500,000 of net sales from March 3, 2004, through July 2,
2005.

At July 2, 2005, Footstar, Inc.'s consolidated balance sheet
showed:

      Total Current Assets                      $371,600,000
      Total Assets                               416,300,000
      Current Liabilities Subject to Compromise  176,700,000
      Total Liabilities                          353,000,000
      Total Shareholders' Equity                 $63,300,000

A full-text copy of Footstar, Inc.'s Monthly Operating Report for
the period from May 29, 2005, to July 2, 2005, is available at no
charge at:

              http://ResearchArchives.com/t/s?a5

Headquartered in West Nyack, New York, Footstar Inc., retails
family and athletic footwear.  As of August 28, 2004, the Company
operated 2,373 Meldisco licensed footwear departments nationwide
in Kmart, Rite Aid and Federated Department Stores.  The Company
also distributes its own Thom McAn brand of quality leather
footwear through Kmart, Wal-Mart and Shoe Zone stores.  The
Company and its debtor-affiliates filed for chapter 11 protection
on March 3, 2004 (Bankr. S.D.N.Y. Case No. 04-22350).  Paul M.
Basta, Esq., at Weil Gotshal & Manges represents the Debtors in
their restructuring efforts.  When the Debtor filed for chapter 11
protection, it listed $762,500,000 in total assets and
$302,200,000 in total debts.


FRESH CHOICE: Posts $99,523 Net Loss for Period Ended July 10
-------------------------------------------------------------
On July 27, 2005, Fresh Choice, Inc., filed its monthly operating
report for the four-week period ended July 10, 2005, with the
United States Bankruptcy Court for the Northern District of
California.

The Company reported a $99,523 net loss in $4,363,243 of gross
sales for the four-week period ended July 10, 2005.

At July 10, 2005, Fresh Choice, Inc.'s balance sheet shows:

      Current Assets                         $3,478,907
      Total Assets                           17,612,632
      Current Liabilities                     6,667,484
      Total Prepetition Liabilities          10,946,442
      Total Liabilities                      19,127,922
      Total Stockholders' Equity Deficit    ($1,515,289)

A full-text copy of Fresh Choice, Inc.'s Monthly Operating Report
for the period ended July 10, 2005, is available at no charge at:

               http://ResearchArchives.com/t/s?a4

Headquartered in Morgan Hill, California, Fresh Choice, Inc. --
http://www.freshchoice.com/-- owns and operates a chain of more
than 40 salad bar eateries, mostly located in California.  The
company filed for chapter 11 protection on July 12, 2004 (Bankr.
N.D. Calif. Case No. 04-54318).  Debra I. Grassgreen, Esq., at
Pachulski, Stang, Ziehl, Young, Jones & Weintraub P.C. represents
the Debtor in its restructuring efforts.  When the Debtor filed
for protection from its creditors, it listed $29,651,000 in total
assets and $14,348,000 in total debts.


KAISER ALUMINUM: Posts $4.8 Million Net Loss in June 2005
---------------------------------------------------------

           Kaiser Aluminum Corporation -- All Debtors
                    Unaudited Balance Sheets
                       As of June 30, 2005
                         (In Thousands)

                             ASSETS

Cash                                                    $54,750

Receivables:
   Trade                                                 96,168
   Other                                                 11,590
                                                      ---------
Total Receivables                                       107,758

Inventories                                             115,173
Prepaid expenses and other current assets                12,892
                                                      ---------
Total current assets                                    290,573

Investments in and advances to subsidiaries              18,058
Intercompany receivables/payables, net                   (4,406)
Property, plant, and equipment - net                    212,993
Deferred income taxes                                         -
Restricted proceeds from sale of commodity interests    674,997
Other assets                                          1,013,319
                                                      ---------
Total Assets                                         $2,205,534
                                                      =========

               LIABILITIES & STOCKHOLDERS' EQUITY

Liabilities not subject to compromise:
   Accounts Payable                                     $54,075
   Accrued interest                                         872
   Accrued salaries, wages and related expenses          53,008
   Accrued post retirement benefit - current                  -
   Other accrued liabilities                             83,849
   Payable to affiliates                                 11,978
   Long term debt - current portion                       1,187
                                                      ---------
Total current liabilities                               204,969

Long-term liabilities                                    34,170
Accrued postretirement benefit obligation                     -
Long-term debt                                            1,212
Liabilities subject to compromise                     3,976,830
Minority interests                                          655

Stockholders' equity:
   Preference stock                                           -
   Common stock                                             789
   Additional capital                                   538,009
Accumulated deficit - As of filing date                (946,931)
Accumulated deficit - Post filing date               (1,595,182)
Accumulated other comprehensive income (loss)            (8,987)
Note receivable from parent                                   -
                                                      ---------
Total Liabilities & Stockholders' Equity             $2,205,534
                                                      =========

            Kaiser Aluminum Corporation -- All Debtors
               Unaudited Statements of Operations
               For the Month Ending June 30, 2005
                         (In Thousands)

Net Sales                                               $89,787

Costs and expenses:
   Cost of products sold                                 84,059
   Depreciation & amortization                            1,676
   Selling, administrative, R&D and general               6,387
   Other operating charges (benefits), net                    -
                                                      ---------
Total costs and expenses                                 92,122
                                                      ---------
Operating income (loss)                                  (2,335)

Other income (expense):
   Interest expenses, net                                  (385)
   Reorganization items                                  (5,111)
   Other-net                                              2,152
                                                      ---------
Income (loss) before
   income taxes and minority interest                    (5,679)
(Provision) benefit for income taxes                      1,266
Minority interests                                            -
Equity in income (loss) of subsidiaries                    (406)
                                                      ---------
Net income (loss)                                       ($4,819)
                                                      =========

            Kaiser Aluminum Corporation -- All Debtors
    Schedule of Consolidated Cash Receipts and Disbursements
               For the Month Ending June 30, 2005
                        (In Thousands)

Receipts:
   Trade Receivables
      KACC Receivables                                  $61,745
      KAII Receivables                                   32,355
                                                      ---------
   Total Trade Receivables                               94,100

   Proceeds from Asset Sales                                 44
   Return of collateral for B of A Letters of Credit      1,282
   Asbestos insurance recoveries                            866
   COBRA receipts                                         1,354
   Proceeds from Hedging Settlement                           -
                                                      ---------
Total Receipts                                           97,646

Disbursements:
   Inventory/Raw Materials                               43,130
   Capital Expenditures                                   1,546
   Maintenance, Materials, etc.                           3,911
   Freight                                                5,884
   Utilities/Energy                                       4,687
   Hourly Payroll                                         7,306
   Salaried Payroll                                       4,854
   Hedging Activities                                     3,239
   VEBA Advances                                          1,900
   Medical - Current Employees                            2,545
   Workmen's Compensation                                   833
   Corporate General and Administrative                     507
   JV Fundings - Alumina                                  4,663
   JV Fundings - Primary, Net of Minority Interest       12,181
   Other Disbursements                                    7,589
                                                      ---------
Total Operating and G&A Disbursements                   104,775

Reorganization Items                                      1,574
                                                      ---------
Total Disbursements                                     106,349
                                                      ---------
Net Cash Flow                                            (8,703)

Beginning Bank Cash Balances                             63,769
                                                      ---------
Ending Bank Cash Balances                                55,066

Reconciling Items                                          (316)
                                                      ---------
Ending Book Cash Balances                               $54,750
                                                      =========

Headquartered in Foothill Ranch, California, Kaiser Aluminum
Corporation -- http://www.kaiseraluminum.com/-- is a leading
producer of fabricated aluminum products for aerospace and high-
strength, general engineering, automotive, and custom industrial
applications.  The Company filed for chapter 11 protection on
February 12, 2002 (Bankr. Del. Case No. 02-10429), and has sold
off a number of its commodity businesses during course of its
cases.  Corinne Ball, Esq., at Jones Day, represents the Debtors
in their restructuring efforts.  On June 30, 2004, the Debtors
listed $1.619 billion in assets and $3.396 billion in debts.
(Kaiser Bankruptcy News, Issue No. 74; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


KUSHNER-LOCKE: Releases May 2005 Monthly Operating Reports
----------------------------------------------------------
On July 28, 2005, The Kushner-Locke Company and its debtor-
affiliates filed their unaudited May 2005 Monthly Operating
Reports with the U.S. Bankruptcy Court for the Central District of
California.

For the month ending May 31, 2005, The Kushner-Locke Company's
Profit & Loss Statement shows:

      Gross Profit                           $0
      Total Operating Expenses           74,600
      Total Non-Operating Expenses       73,019
      Net Income (Loss)               ($147,619)

For the period from May 1, 2005 through May 31, 2005, The Kushner-
Locke Company's Cash Receipts and Disbursements Report shows:

                              Collateral    Concentration
                                Account        Account
                              ----------    -------------
      Beginning Balance       $1,705,677         $168,064
      Total Receipts             306,894           40,000
      Total Disbursements         40,000          147,619
      Ending Balance          $1,972,571          $60,445

Full-text copies of The Kushner-Locke Company's May 2005
Monthly Operating Reports are available at no charge at:

Profit & Loss Statement:

               http://ResearchArchives.com/t/s?ab

Cash Receipts and Disbursements Report:

               http://ResearchArchives.com/t/s?aa

Headquartered in Los Angeles, California, The Kushner-Locke
Company is a low-budget movie production studio.  The Company,
along with its debtor-affiliates filed for chapter 11 protection
on Nov. 21, 2001 in the U.S. Bankruptcy Court for the Central
District of California.  The cases are jointly administered under
case number 01-44828.


NEWPOWER HOLDINGS: Files June 2005 Monthly Operating Report
-----------------------------------------------------------
On July 25, 2005, NewPower Holdings, Inc., filed its June 2005
Monthly Operating Report for the period from May 31, 2005, to
June 30, 2005, with the U.S. Bankruptcy Court for the Northern
District of Georgia, Newnan Division.  The company reports an
opening cash balance of $52,461,000 and a closing cash balance of
$52,307,000.

A full-text copy of NewPower Holdings, Inc.'s Monthly Operating
Report for the period from May 31, 2005, to June 30, 2005,is
available at no charge at:

            http://ResearchArchives.com/t/s?a3

NewPower Holdings, Inc., and its debtor-affiliates filed for
chapter 11 protection on June 11, 2002 (Bankr. N.D. Ga. 02-10836).
Paul K. Ferdinands, Esq., at King & Spalding and William M.
Goldman, Esq., at Sidley Austin Brown & Wood LLP represent the
Debtors.  When the Debtors filed for chapter 11 protection, they
reported $231,837,000 in assets and $87,936,000 in debts.

On Aug. 15, 2003, the United States Bankruptcy Court for the
Northern District of Georgia, Newnan Division, confirmed the
Second Amended Chapter 11 Plan with respect to NewPower Holdings,
Inc., and TNPC Holdings, Inc., a wholly owned subsidiary of the
Company.  On February 28, 2003, the Bankruptcy Court previously
confirmed the Plan, and the Plan has been effective as of
March 11, 2003, with respect to The New Power Company, a wholly
owned subsidiary of the Company.  The Plan became effective on
Oct. 9, 2003, with respect to the Company and TNPC.


OWENS CORNING: Posts $5.8 Million Net Loss in May 2005
------------------------------------------------------

                            Owens Corning
                            Balance Sheet
                         As of May 31, 2005
                           (In Thousands)


Current Assets:
    Cash and cash equivalents                           $631,390
    Receivables                                          412,852
    Receivables-Inter-company                            984,235
    Inventories                                          237,127
    Insurance for Asbestos Litigation Claims                   0
    Deferred Income Taxes                                    484
    Income Tax Receivable                                  3,325
    Other Current Assets                                  23,084
                                                     -----------
Total Current Assets                                  $2,292,497

Other Assets:
    Insurance for Asbestos Litigation Claims               4,220
    Restricted Cash                                      188,320
    Restricted cash and securities - Fibreboard                0
    Deferred Income Taxes                                967,908
    Goodwill                                              48,568
    Investment in Affiliates                              30,260
    Investment in Subsidiaries                         2,022,050
    Notes Receivable - Intercompany                        5,270
    Other Non-current Assets                             477,554
                                                     -----------
Total Other Assets                                     3,744,150

Plant & Equipment:
    Land                                                  35,164
    Buildings & Leasehold Improvements                   550,576
    Machinery & Equipment                              2,167,114
    Construction in Progress                             126,058
    Less: Accumulated Depreciation                     1,595,737
                                                     -----------
Net Plant and Equipment                                1,283,175
                                                     -----------
TOTAL ASSETS                                          $7,319,822
                                                     ===========

Liabilities not Subject to Compromise:
    Accounts Payable & Accrued Liabilities               491,659
    Inter-company Liabilities                            960,656
    Short-term debt                                            0
    Long-term debt - current portion                       1,367
                                                     -----------
Total Current Liabilities                              1,453,682

Long-Term Debt                                             9,734

Other:
Other Employee Benefits Liability                        218,712
Pension Plan Liability                                   617,801
Other Liability                                          152,628
                                                     -----------
Total Non-Current Liabilities                            989,141
                                                     -----------
Total Postpetition Liabilities                         2,452,557

Prepetition Liabilities:
    Accounts Payable and Accrued Liabilities             261,694
    Other Employee Benefits Liability                    199,738
    Pension Plan Liability                                     0
    Debt-US Bank Credit Facility                       1,450,986
    Debt-Bonds & Other                                 1,503,855
    Asbestos-Related Liability                         6,166,734
    Inter-company                                      2,452,666
    Other                                                      0
                                                     -----------
Total Prepetition Liabilities                         12,035,673

Total Liabilities                                     14,488,230

Minority Interest                                              0

Stockholder's Equity:
    Common Stock                                         697,298
    Retained Earnings (Deficit)                       (7,514,534)
    Accumulated Comprehensive Income (Loss)               (5,580)
    Other                                               (345,592)
                                                     -----------
Net Stockholder's Equity                              (7,168,408)
                                                     -----------
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY              $7,319,822
                                                     ===========

                           Owens Corning
                      Statement of Operations
                  For the Month Ended May 31, 2005
                           (In Thousands)

Net sales                                               $356,996
Cost of Sales                                            287,179
                                                     -----------
Gross Margin                                              69,817

Operating Expenses:
    Marketing and Administrative Expenses                 32,904
    Science and Technology Expenses                        2,832
    Provision for Asbestos Litigation Claims                   0
    Insider Compensation                                     810
    Restructure Costs                                          0
    Other Expenses                                        11,650
                                                     -----------
Income (Loss) from Operations                             21,621

Other Expenses:
    Cost of Borrowed Funds                                   110
    Other                                                      0
                                                     -----------
Income (Loss) Before Reorganization Items                 21,511


Reorganization Items:
    Professional Fees                                      2,433
    U.S. Trustee Quarterly Fees                                2
    Interest Earned on Accumulated Cash from Chapter 11   (1,091)
    (Gain) Loss from sale of equipment                         0
    (Gain) Loss from Settlement of Liabilities                 0
    Other Reorganization Expenses                          2,836
                                                     -----------
Total Reorganization Expenses                              4,181
                                                     -----------
Income (Loss) Before Income Taxes                         17,330

Provision (credit) for Income Tax                         23,135
                                                     -----------
Income (Loss) Before Minority Interest and
    Equity in Net Income (Loss) of Affiliates             (5,805)
Minority interest                                              0
Equity in net income (loss) of affiliates                    (18)
                                                     -----------
Net Income (Loss)                                        ($5,823)
                                                     ===========

                           Owens Corning
             Statement of Cash Receipts & Disbursements
                 For the Month Ended May 31, 2005
                           (In Thousands)

Cash, Beginning of Month                                $584,594


Receipts:
    Customer Receipts                                    363,636
    Inter-company Sales                                    5,213
    Loans and Advances                                         0
    Sale of Assets                                             0
    Other Receipts                                         6,420
    Inter-company Transfers                              102,073
    Transfers from DIP                                   269,274
                                                     -----------
Total Receipts                                          $746,616

Disbursements:
    Net Payroll                                           34,751
    Payroll Taxes                                             47
    Sales Use & Other Taxes                                5,918
    Inventory Purchases                                  130,410
    Insurance                                              2,539
    Administrative & Selling                              71,877
    Other                                                 96,131
    Inter-company Transfers                               82,248
    Transfers to DIP                                     269,274
    Professional Fees                                      6,624
    U.S. Trustee Quarterly Fees                                0
    Court costs                                                0
    Adjustment                                                 0
                                                     -----------
Total Disbursements                                     $699,820

Net Cash Flow                                             46,796
                                                     -----------
Cash -- End of Month                                    $631,390
                                                     ===========

Headquartered in Toledo, Ohio, Owens Corning --
http://www.owenscorning.com/-- manufactures fiberglass
insulation, roofing materials, vinyl windows and siding, patio
doors, rain gutters and downspouts.  The Company filed for chapter
11 protection on October 5, 2000 (Bankr. Del. Case. No. 00-03837).
Mark S. Chehi, Esq., at Skadden, Arps, Slate, Meagher & Flom,
represents the Debtors in their restructuring efforts.  At Sept.
30, 2004, the Company's balance sheet shows $7.5 billion in assets
and a $4.2 billion stockholders' deficit.  The company reported
$132 million of net income in the nine-month period ending
Sept. 30, 2004.  (Owens Corning Bankruptcy News, Issue No. 113;
Bankruptcy Creditors' Service, Inc., 215/945-7000)


SOLUTIA INC: Earns $4 Million of Net Income in June 2005
--------------------------------------------------------

                   Solutia Chapter 11 Debtors
      Unaudited Statement of Consolidated Financial Position
                       As of June 30, 2005

                              ASSETS

Current Assets
   Cash                                             $12,000,000
   Trade Receivables, net                           153,000,000
   Account Receivables-Unconsolidated Subsidiaries   50,000,000
   Inventories                                      150,000,000
   Other Current Assets                              69,000,000
                                                 --------------
   Total Current Assets                             434,000,000

Property, Plant and Equipment, net                  677,000,000
Investments in Subsidiaries and Affiliates          528,000,000
Intangible Assets, net                              101,000,000
Other Assets                                         85,000,000
                                                 --------------
TOTAL ASSETS                                     $1,825,000,000
                                                 ==============

              LIABILITIES AND SHAREHOLDERS' DEFICIT

Current Liabilities
   Accounts Payable                                $137,000,000
   Short Term Debt                                  300,000,000
   Other Current Liabilities                        156,000,000
                                                 --------------
   Total Current Liabilities                        593,000,000

Other Long-Term Liabilities                         208,000,000
Total Liabilities not Subject to Compromise         801,000,000
Liabilities Subject to Compromise                 2,271,000,000
Shareholders' Deficit                            (1,247,000,000)
                                                 --------------
Total Liabilities & Shareholders' Deficit        $1,825,000,000
                                                 ==============

                    Solutia Chapter 11 Debtors
         Unaudited Consolidated Statement of Operations
                For the Month Ended June 30, 2005

Total Net Sales                                    $196,000,000
Total Cost Of Goods Sold                            171,000,000
                                                 --------------
Gross Profit                                         25,000,000
Total MAT Expense                                    19,000,000
                                                 --------------
Operating Income                                      6,000,000

Equity Earnings from Affiliates                       6,000,000
Interest Expense, net                                (5,000,000)
Other Income, net                                     3,000,000

Reorganization Items:
   Professional fees                                 (4,000,000)
   Employee severance and retention costs                     -
   Adjustment to allowed claim amounts                        -
   Settlements of prepetition claims                          -
   Other                                             (1,000,000)
                                                 --------------
   Total reorganization items                        (5,000,000)

Income Before Taxes                                   5,000,000
Income Taxes                                          1,000,000
                                                 --------------
Net Income                                           $4,000,000
                                                 ==============

Headquartered in St. Louis, Missouri, Solutia, Inc. --
http://www.solutia.com/-- with its subsidiaries, make and sell a
variety of high-performance chemical-based materials used in a
broad range of consumer and industrial applications.  The Company
filed for chapter 11 protection on December 17, 2003 (Bankr.
S.D.N.Y. Case No. 03-17949).  When the Debtors filed for
protection from their creditors, they listed $2,854,000,000 in
assets and $3,223,000,000 in debts.  Solutia is represented by
Richard M. Cieri, Esq., at Kirkland & Ellis. (Solutia Bankruptcy
News, Issue No. 44; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


TOWER AUTOMOTIVE: Posts $124.5 Million Net Loss in June 2005
------------------------------------------------------------

              Tower Automotive, Inc. and Subsidiaries
               Unaudited Consolidated Balance Sheets
                       As of June 30, 2005
                          (In Thousands)

CURRENT ASSETS:
   Cash and cash equivalents                             $5,756
   Accounts receivable, net                             304,423
   Inventories                                           68,684
   Prepaid tooling and other                             43,836
                                                     ----------
      TOTAL CURRENT ASSETS                              422,699
                                                     ----------

   Property, plant and equipment, net                   593,933
   Investment in joint ventures                               -
   Investment in subsidiaries                           346,782
   Inter-company receivables                            404,984
   Other assets, net                                     92,771
                                                     ----------
      TOTAL ASSETS                                   $1,861,169
                                                     ==========

CURRENT LIABILITIES NOT SUBJECT TO COMPRISE:
   Current maturities of long-term debt & capital       $15,682
      lease obligations
   Accounts payable                                     114,896
   Accrued liabilities                                  200,380
                                                     ----------
      TOTAL CURENT LIABILITIES                          330,958
                                                     ----------

   Liabilities subject to comprise                    1,221,956
   Non-Current Liabilities Not Subject to Compromise:
      Long-term debt, net of current maturities          43,774
      DIP borrowings, net of current maturities         533,286
      Other non-current liabilities                     184,540
                                                     ----------
      TOTAL LIABILITIES                               2,314,514
      STOCKHOLDERS' EQUITY                             (453,345)
                                                     ----------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT          $1,861,169
                                                     ==========

              Tower Automotive, Inc. and Subsidiaries
                 Unaudited Statement of Operations
                         June 1 to 30, 2005
                          (In Thousands)

Revenues                                               $188,010
Cost of sales                                           168,910
                                                     ----------
Gross profit                                             19,100
Selling, general and administrative expenses              7,154
Restructuring and asset impairment charges, net          37,163
                                                     ----------
Operating income (loss)                                 (25,217)
Interest expense                                          5,960
Interest income                                          (1,848)
Chapter 11 and related reorganization items              94,994
                                                     ----------
Income (loss) before provision for income taxes,
   equity in earnings of joint ventures and
   minority interest                                   (124,323)
Provision (benefit) for income taxes                        254
Income (loss) before equity in earnings of joint
   ventures and minority interest                      (124,577)
Equity in earnings of joint ventures, net of tax            113
                                                     ----------
NET LOSS                                              ($124,464)
                                                     ==========

              Tower Automotive, Inc. and Subsidiaries
                 Unaudited Statement of Cash Flows
                         June 1 to 30, 2005
                          (In Thousands)

OPERATING ACTIVITIES:
   Net loss                                           ($124,464)
   Adjustments required to reconcile net loss to net
      cash provided by (used in) operating activities:
      Chapter 11 & related reorganization expenses       94,994
      Payments of Chapter 11 and related reorganization
         expenses                                        (1,955)
      Restructuring and asset impairment, net            36,713
      Depreciation                                        9,855
      Deferred compensation                                  74
      Equity in earnings of joint ventures, net            (113)
      Change in working capital and other operating
         items                                          (23,912)
                                                     ----------
      Net cash provided by operating activities          (8,808)
                                                     ----------
INVESTING ACTIVITIES:
   Capital expenditures                                  (2,500)
                                                     ----------
      Net cash used in investing activities              (2,500)
                                                     ----------

FINANCING ACTIVITIES:
   Proceeds from prepetition borrowings                       -
   Repayments of prepetition borrowings                    (794)
   Borrowings from DIP credit facility                   85,000
   Repayments of borrowings from DIP credit facility    (70,000)
   Net proceeds from issuance of common stock                 -
                                                     ----------
      Net cash provided by financing activities          14,206
                                                     ----------
Net Change in cash and cash equivalents                   2,898
                                                     ----------
Cash and Cash Equivalents, beginning of period            2,858

Cash and Cash Equivalents, end of period                 $5,756
                                                     ==========

Headquartered in Grand Rapids, Michigan, Tower Automotive, Inc.
-- http://www.towerautomotive.com/-- is a global designer and
producer of vehicle structural components and assemblies used by
every major automotive original equipment manufacturer, including
BMW, DaimlerChrysler, Fiat, Ford, GM, Honda, Hyundai/Kia, Nissan,
Toyota, Volkswagen and Volvo.  Products include body structures
and assemblies, lower vehicle frames and structures, chassis
modules and systems, and suspension components.  The Company and
25 of its debtor-affiliates filed voluntary chapter 11 petitions
on Feb. 2, 2005 (Bankr. S.D.N.Y. Case No. 05-10576 through
05-10601).  James H.M. Sprayregen, Esq., Ryan B. Bennett, Esq.,
Anup Sathy, Esq., Jason D. Horwitz, Esq., and Ross M. Kwasteniet,
Esq., at Kirkland & Ellis, LLP, represent the Debtors in their
restructuring efforts.  When the Debtors filed for protection from
their creditors, they listed $787,948,000 in total assets and
$1,306,949,000 in total debts.  (Tower Automotive Bankruptcy News,
Issue No. 16; Bankruptcy Creditors' Service, Inc., 215/945-7000)


UAL CORP: Posts $1.2 Billion Net Loss in June 2005
--------------------------------------------------

             UAL Corporation and Subsidiary Companies
         Condensed Consolidating Statement of Operations
                 For The Month Ended June 30, 2005
                         (In Thousands)

Total operating revenues                             $1,722,288

Total operating expenses                              1,589,762

Earnings (loss) from operations                         132,526

Non-operating income (expenses):
   Net interest expense                                 (43,999)
   Other income (expenses), net                          35,563
                                                     ----------
Total non-operating income (expenses)                    (8,436)

Net Earnings (loss) before Reorganization items         124,090

Reorganization items                                 (1,321,797)
                                                     ----------
Net earnings (loss)                                 ($1,197,707)
                                                     ==========

A full-text copy of UAL Corporation's June 2005 Operating Report
is available for free at the Securities and Exchange Commission at
http://ResearchArchives.com/t/s?a0

Headquartered in Chicago, Illinois, UAL Corporation --
http://www.united.com/-- through United Air Lines, Inc., is the
holding company for United Airlines -- the world's second largest
air carrier.  The Company filed for chapter 11 protection on
December 9, 2002 (Bankr. N.D. Ill. Case No. 02-48191).  James H.M.
Sprayregen, Esq., Marc Kieselstein, Esq., David R. Seligman, Esq.,
and Steven R. Kotarba, Esq., at Kirkland & Ellis, represent the
Debtors in their restructuring efforts.  When the Debtors filed
for protection from their creditors, they listed $24,190,000,000
in assets and $22,787,000,000 in debts.  (United Airlines
Bankruptcy News, Issue No. 95; Bankruptcy Creditors' Service,
Inc., 215/945-7000)


US AIRWAYS: Earns $8.6 Million of Net Income in June 2005
---------------------------------------------------------

                      US Airways Group, Inc.
                    Consolidated Balance Sheet
                         At June 30, 2005
                          (in thousands)

Current Assets:
   Cash and cash equivalents                           $556,620
   Restricted cash                                      132,895
   Receivables, net                                     311,335
   Materials and supplies, net                          175,881
   Prepaid expenses and other                           169,727
                                                   ------------
      Total Current Assets                            1,346,458

Property and Equipment:
   Flight equipment                                   2,743,330
   Ground property and equipment                        365,648
   Less accumulated depreciation and amortization      (374,012)
                                                   ------------
                                                      2,734,966
   Purchase deposits for flight equipment                72,494
                                                   ------------
      Total Property and Equipment                    2,807,460

Other Assets:
   Goodwill                                           2,489,638
   Other intangibles, net                               517,396
   Restricted cash                                      660,109
   Other assets, net                                     81,105
                                                   ------------
      Total Other Assets                              3,748,248
                                                   ------------
Total Assets                                         $7,902,166
                                                   ============

Current Liabilities:
   Current maturities of long-term debt
   and capital lease obligations                       $856,654
   Accounts payable                                     437,952
   Traffic balances payable and unused tickets        1,065,267
   Accrued aircraft rent                                 48,993
   Accrued salaries, wages and vacation                 176,248
   Other accrued expenses                               344,240
                                                   ------------
      Total Current Liabilities                       2,929,354

Noncurrent Liabilities and Deferred Credits:
   Long-term debt and capital lease
   obligations, net of current maturities                76,232
   Deferred gains and credits, net                      162,768
   Postretirement benefits other than pensions            1,906
   Employee benefit liabilities and other               243,102
                                                   ------------
Total Noncurrent Liabilities and Deferred Credits       484,008

Liabilities Subject to Compromise                     5,150,292

Commitments and Contingencies

Stockholders' Equity:
   Class A Common Stock                                  50,616
   Class B Common Stock                                   5,000
   Paid-in capital                                      410,339
   Accumulated deficit                               (1,128,518)
   Common stock held in treasury, at cost                (2,815)
   Deferred compensation                                 (6,784)
   Accumulated other comprehensive income                10,674
                                                   ------------
Total Stockholders' Deficit                            (661,488)
                                                   ------------
Total Liabilities & Stockholders' Equity             $7,902,166
                                                   ============

                      US Airways Group, Inc.
               Consolidated Statement of Operations
                     Month ended June 30, 2005
                          (in thousands)

Operating Revenues:
   Passenger transportation                            $621,311
   Cargo and freight                                      8,260
   Other                                                 48,379
                                                   ------------
Total Operating Revenues                                677,950

Operating Expenses:
   Personnel costs                                      126,417
   Aviation fuel                                        156,421
   US Airways Express capacity purchases                 74,203
   Aircraft rent                                         38,833
   Other rent and landing fees                           41,293
   Selling expenses                                      31,524
   Aircraft maintenance                                  35,284
   Depreciation and amortization                         27,459
   Other                                                101,567
                                                   ------------
Total Operating Expenses                                633,001

Operating Income                                         44,949

Other Income (Expense):
   Interest income                                        3,616
   Interest expense, net                                (27,706)
   Reorganization items, net                            (11,912)
   Other, net                                            (2,248)
                                                   ------------
      Other Income (Expense), Net                       (38,250)

Loss Before Income Taxes                                  6,699
   Income Tax Benefit                                     1,882
                                                   ------------
Net Income (Loss)                                        $8,581
                                                   ============

                      US Airways Group, Inc.
               Consolidated Statement of Cash Flows
                    Month ended June 30, 2005
                          (in thousands)

Net cash from operating activities
   before reorganization items                          $68,142
Reorganization items, net                               (26,128)
                                                   ------------
      Net cash provided by operating activities          42,014

Cash flows from investing activities:
   Capital expenditures and purchase deposits
   for flight equipment, net                             (1,834)
   Proceeds from dispositions of property                   155
   Increase in restricted cash                          (50,696)
                                                   ------------
      Net cash provided by investing activities         (52,375)

Cash flows from financing activities:
   Proceeds from issuance of long-term debt              13,559
   Proceeds from DIP Financing                                0
   Principal payments on long-term debt
   and capital lease obligations                         (5,863)
                                                   ------------
      Net cash provided by financing activities           7,696

Net increase in Cash and cash equivalents                (2,665)
                                                   ------------
Cash and cash equivalents at beginning of period        559,285
                                                   ------------
Cash and cash equivalents at end of period             $556,620
                                                   ============

US Airways and its subsidiaries filed another chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represent the Debtors
in their restructuring efforts.  In the Company's second
bankruptcy filing, it lists $8,805,972,000 in total assets and
$8,702,437,000 in total debts.  (US Airways Bankruptcy News, Issue
No. 100; Bankruptcy Creditors' Service, Inc., 215/945-7000)


                          *********

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
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Each Friday's edition of the TCR includes a review about a book of
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available at your local bookstore or through Amazon.com. Go to
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Monthly Operating Reports are summarized in every Saturday edition
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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. Yvonne L.
Metzler, Emi Rose S.R. Parcon, Rizande B. Delos Santos, Jazel P.
Laureno, Cherry Soriano-Baaclo, Marjorie Sabijon, Terence Patrick
F. Casquejo, Jason A. Nieva, Christian Q. Salta, Lucilo Junior M.
Pinili and Peter A. Chapman, Editors.

Copyright 2005.  All rights reserved.  ISSN: 1520-9474.

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                    *** End of Transmission ***