TCR_Public/060225.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, February 25, 2006, Vol. 10, No. 48

                             Headlines

FLYI INC: Posts $1.1 Million Net Loss in December 2005
FLYI INC: Independence Posts $12.9 Mil. Net Loss in December 2005
INTEGRATED ELECTRICAL: Files December 31 Balance Sheet
INTERSTATE BAKERIES: Cubbison's Files Schedules of Assets & Debts
MCLEODUSA INC: Files Schedules of Assets and Liabilities

MCLEODUSA INC: Holdings Files Schedules of Assets and Liabilities
MCLEODUSA INC: Information Files Schedules of Assets & Liabilities
MCLEODUSA INC: Network Files Schedules of Assets and Liabilities
MCLEODUSA INC: Purchasing Files Schedules of Assets & Liabilities
MCLEODUSA INC: Telecom Files Schedules Of Assets And Liabilities

MERIDIAN AUTOMOTIVE: Posts $16.6 Million Net Loss in December 2005
SOLUTIA INC: Posts $30 Million Net Loss in December 2005
UAL CORPORATION: Posts $16 Million Net Loss in December 2005
WINN-DIXIE: Earns $1.6 Million for Period Ended January 11

                             *********

FLYI INC: Posts $1.1 Million Net Loss in December 2005
------------------------------------------------------

                               FLYi Inc.
                      Consolidated Balance Sheet
                        As of December 31, 2005

ASSETS

Current assets
     Cash                                                $175,214
     Short term investments                             1,000,000
     Net accounts receivable                          380,527,959
     IC Notes receivable                                4,252,000
                                                    -------------
     Total Current Assets                            $385,955,173
                                                    -------------
Other assets
     Restricted cash                                           $0
     Long term investments                              7,435,000
     Property and equipment, net of depreciation              250
     Intangible assets                                          0
     Debt issuance cost                                         0
     Aircraft deposits                                          0
     Long term deferred tax                                     0
     Other assets                                      14,055,412
                                                    -------------
     Total Other Assets                               $21,490,662
                                                    -------------
     TOTAL ASSETS                                    $407,445,835
                                                    =============

LIABILITIES

Liabilities not subject to compromise                          $0
Liabilities subject to compromise
     Secured debt                                               0
     Priority debt                                              0
     Unsecured debt                                   244,526,299
                                                    -------------
     Total Liabilities                               $244,526,299
                                                    -------------
Owner Equity
     Common stock                                       1,088,716
     Additional paid in capital                       158,254,512
     Treasury stock                                   (35,717,477)
     Pre-petition retained earnings                    39,858,773
     Postpetition retained earnings                      (564,988)
                                                    -------------
     Net Owners' Equity                              $162,919,536
                                                    -------------
     TOTAL LIABILITIES AND OWNER'S EQUITY            $407,445,835
                                                    =============

                               FLYi Inc.
                       Statement of Operations
                            December 2005

Revenues                                                       $0
Operating expenses
     Retirement and Restructuring charge                2,057,413
Other income and expenses
     Interest income                                     (503,407)
     Interest expense                                    (500,000)
     Other miscellaneous                                   54,909
                                                    -------------
     Net Profit(Loss)                                 ($1,108,915)
                                                    =============

Headquartered in Dulles, Virginia, FLYi, Inc., aka Atlantic Coast
Airlines Holdings, Inc. -- http://www.flyi.com/-- is the parent
of Independence Air Inc., a small airline based at Washington
Dulles International Airport.  The Debtor and its six affiliates
filed for chapter 11 protection on Nov. 7, 2005 (Bankr. D. Del.
Case Nos. 05-20011 through 05-20017).  Brendan Linehan Shannon,
Esq., M. Blake Cleary, Esq., and Matthew Barry Lunn, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in their
restructuring efforts.  As of Sept. 30, 2005, the Debtors listed
assets totaling $378,500,000 and debts totaling $455,400,000.
(FLYi Bankruptcy News, Issue No. 12; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


FLYI INC: Independence Posts $12.9 Mil. Net Loss in December 2005
-----------------------------------------------------------------

                        Independence Air Inc.
                     Consolidated Balance Sheet
                      As of December 31, 2005

ASSETS

Current assets
     Cash                                             $17,893,280
     Short term investments                            16,752,756
     Restricted cash                                   18,863,290
     Net accounts receivable                           97,767,871
     Net expandable parts and fuel                      2,509,591
     Net prepaid expenses                              14,006,544
     Deferred tax asset                                        (1)
                                                    -------------
Total current assets                                 $167,793,332
                                                    -------------
Other assets:
     Restricted cash                                  $19,685,375
     Property and equipment, net of depreciation       30,748,701
     Intangible assets                                    170,625
     Aircraft deposits                                 10,800,000
     Long term deferred tax                                     0
     Other assets                                       1,947,267
                                                    -------------
     TOTAL ASSETS                                    $231,145,300
                                                    =============

LIABILITIES

Liabilities not subject to compromise
     Accounts payable                                  $1,549,024
     Air traffic liability                             12,986,338
     Accrued liabilities                               14,859,788
     Amounts due to insiders                               20,000
                                                    -------------
Total postpetition liabilities                        $29,415,150
                                                    -------------
Liabilities subject to compromise
     Secured debt                                       3,018,410
     Priority debt                                        218,737
     Unsecured debt                                   417,663,088
     Other accruals                                    41,923,024
                                                    -------------
Total prepetition liabilities                        $462,823,258
                                                    -------------
Total Liabilities                                    $492,242,408
                                                    -------------
Owner Equity
     Common stock                                               -
     Additional paid in capital                                 -
     Treasury stock                                     7,435,000
     Owner's equity account                                     -
     Pre-petition retained earnings                  (243,575,613)
     Postpetition retained earnings                   (24,956,493)
     Adjustment to owner equity                                 -
                                                    -------------
Net Owner Equity                                    ($261,097,106)
                                                    -------------
     TOTAL LIABILITIES AND OWNER'S EQUITY            $231,145,300
                                                    =============

                        Independence Air Inc.
                       Statement of Operations
                            December 2005

Revenues
Operating Revenue
     Passenger revenue                                $22,479,142
     ID Passenger                                            (968)
     In-flight Sales                                       29,905
     Other revenue                                      1,326,074
                                                    -------------
Total operating revenues                              $23,834,153
                                                    -------------
Operating expenses
Insider compensation                                     $140,015
     Wages                                              4,599,179
     Fringes and benefits                               2,227,766
     aircraft fuel                                      9,327,603
     aircraft maintenance and materials                 2,151,393
     aircraft rentals                                   5,762,019
     traffic commissions                                  353,952
     CRS fees                                             167,239
     facilities rent                                    2,854,595
     Landing fees                                         904,337
     Depreciation and amortization                      1,422,646
     Others                                             1,019,485
     Retirement and restructuring charge                5,381,402
                                                    -------------
Total operating expense                               $36,311,631
                                                    -------------
Other income and expenses
     Interest income                                     (340,320)
     Interest expense                                    (238,119)
     Other miscellaneous                                       56
                                                    -------------
     Total other (income) expense                        (578,383)
                                                    -------------
Reorganization items
     Professional fees                                  1,056,261
     Gain from sale of equipment                              922
                                                    -------------
Net Profit (Loss)                                    ($12,976,345)
                                                    =============

Headquartered in Dulles, Virginia, FLYi, Inc., aka Atlantic Coast
Airlines Holdings, Inc. -- http://www.flyi.com/-- is the parent
of Independence Air Inc., a small airline based at Washington
Dulles International Airport.  The Debtor and its six affiliates
filed for chapter 11 protection on Nov. 7, 2005 (Bankr. D. Del.
Case Nos. 05-20011 through 05-20017).  Brendan Linehan Shannon,
Esq., M. Blake Cleary, Esq., and Matthew Barry Lunn, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in their
restructuring efforts.  As of Sept. 30, 2005, the Debtors listed
assets totaling $378,500,000 and debts totaling $455,400,000.
(FLYi Bankruptcy News, Issue No. 12; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


INTEGRATED ELECTRICAL: Files December 31 Balance Sheet
------------------------------------------------------

       INTEGRATED ELECTRICAL SERVICES, INC. AND SUBSIDIARIES
                     CONSOLIDATED BALANCE SHEET
                       As of December 31, 2005

ASSETS
CURRENT ASSETS:
Cash and cash equivalents                            $24,879,000
Restricted cash                                       19,090,000
Accounts receivable:
Trade, net of allowance                              177,252,000
Retainage                                             41,883,000
Costs and estimated earnings
    in excess of billings
    on uncompleted contracts                          23,482,000
Inventories                                           23,300,000
Prepaid expenses and other current assets             26,403,000
Assets held for sale
     associated with discontinued operations             262,000
                                                  --------------
Total current assets                                $336,551,000
                                                  --------------
PROPERTY AND EQUIPMENT, net                           23,708,000
GOODWILL                                              24,343,000
OTHER NON-CURRENT ASSETS                              15,601,000
                                                  --------------
Total assets                                        $400,203,000
                                                  ==============

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current maturities of long-term debt                     $26,000
Accounts payable and accrued expenses                114,084,000
Billings in excess of costs and estimated
    earnings on uncompleted contracts                 32,053,000
Liabilities related to assets held for sale
    associated with discontinued operations               51,000
Senior convertible notes, net                         50,711,000
Senior subordinated notes, net                       173,115,000
                                                  --------------
Total current liabilities                           $370,040,000
                                                  --------------
LONG-TERM DEBT, net of current maturities                139,000
OTHER NON-CURRENT LIABILITIES                         15,522,000
                                                  --------------
Total liabilities                                   $385,701,000
                                                  --------------
  COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY:
Preferred stock                                                -
Common stock                                            $390,000
Restricted voting common stock                            26,000
Treasury stock, at cost                              (12,544,000)
Unearned restricted stock                                      -
Additional paid-in capital                           429,776,000
Retained deficit                                    (403,146,000)
                                                  --------------
Total stockholders' equity                           $14,502,000
                                                  --------------
Total liabilities and stockholders' equity          $400,203,000
                                                  ==============

Headquartered in Houston, Texas, Integrated Electrical Services,
Inc. -- http://www.ielectric.com/and http://www.ies-co.com/-- is
an electrical and communications service provider with national
roll-out capabilities across the U.S.  Integrated Electrical
Services offers seamless solutions and project delivery of
electrical and low-voltage services, including communications,
network, and security solutions.  The company provides everything
from system design, installation, and testing to long-term service
and maintenance on a wide array of projects.  With approximately
140 locations nationwide, the company is prepared to seamlessly
manage and deliver all your electrical, security, and
communication requirements.  The Debtor and 132 of its affiliates
filed for chapter 11 protection on Feb. 14, 2006 (Bankr. N.D. Tex.
Lead Case No. 06-30602).  Daniel C. Stewart, Esq., and Michaela C.
Crocker, Esq., at Vinson & Elkins, L.L.P., represent the Debtors
in their restructuring efforts.  As of Dec. 31, 2005, Integrated
Electrical reported assets totaling $400,827,000 and debts
totaling $385,540,000.  (Integrated Electrical Bankruptcy News,
Issue No. 1; Bankruptcy Creditors' Service, Inc., 215/945-7000)


INTERSTATE BAKERIES: Cubbison's Files Schedules of Assets & Debts
-----------------------------------------------------------------

A.     Real Property                                          $0

B.     Personal Property
B.16   Accounts receivable
           Trade receivable                            1,600,333
           Other receivable                              232,588
           Intercompany receivable                    11,143,241
B.18   Other liquidated debts owed                           747
B.30   Inventory
           Aspen Distribution                             73,961
           La Grou Distribution                           60,217
           Acme Distribution                              52,320
           Anchor Distribution                           113,041
           Lou Misterly/L & B Whse. (Brea, CA)           201,114
           Southwest Storage                              86,048
           Star Marketing Canada                          27,505
           M & W Distribution                             60,681
           United Warehouse #4                            67,716
           East Coast Warehouse                          106,024
           Empire Terminal Warehouse                     187,186
           IBC 61 Northwood Ohio                         131,664
           Plant #28 Henderson NV                        421,237
           Saddle Creek - Lakeland, FL                    32,685
           Premier Packaging                              21,010
           Commerce, CA - UPS Samples Inventory            1,775

        TOTAL SCHEDULED ASSETS                       $14,621,091
                                                    ============

C.     Property Claimed as Exempt                 Not Applicable

D.     Secured Claims                                         $0

E.     Unsecured Priority Claims                              $0

F.     Unsecured Non-Priority Claims
           Fleming Companies, Inc. (PCT)                 $23,265
           Interstate Brands Corporation               1,570,400
           Miscellaneous Customer                         20,828
           Miscellaneous Returns Accrual               1,138,479
           Public Logistics                               14,056
           Others                                         39,984

        TOTAL SCHEDULED LIABILITIES                   $2,807,012
                                                     ===========

Headquartered in Commerce, California, Mrs. Cubbison's Foods, Inc.
-- http://www.mrscubbisons.com/-- is an affiliate of Interstate  
Bakeries Corporation.  The Debtor makes stuffing, dressings, and
croutons.  The Debtor filed for chapter 11 protection on Jan. 14,
2006 (Bankr. W.D. Mo. Case No. 06-40111).  Samuel S. Ory, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, and Paul M. Hoffmann,
Esq., at Stinson Morrison Hecker LLP represent the Debtor in its
restructuring efforts.  When the Debtor filed for protection from
its creditors, it estimated assets between $10 million and $50
million and debts between $1 million and $10 million.

Headquartered in Kansas City, Missouri, Interstate Bakeries
Corporation is a wholesale baker and distributor of fresh baked
bread and sweet goods, under various national brand names,
including Wonder(R), Hostess(R), Dolly Madison(R), Baker's Inn(R),
Merita(R) and Drake's(R).  The Company employs approximately
32,000 in 54 bakeries, more than 1,000 distribution centers and
1,200 thrift stores throughout the U.S.

The Company and seven of its debtor-affiliates filed for chapter
11 protection on September 22, 2004 (Bankr. W.D. Mo. Case No.
04-45814). J. Eric Ivester, Esq., and Samuel S. Ory, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in
their restructuring efforts.  Kenneth A. Rosen, Esq., at
Lowenstein Sandler, PC, represents the Official Committee of
Unsecured Creditors.  Peter D. Wolfson, Esq., at Sonnenschein Nath
& Rosenthal, LLP, represents the Official Committee of Equity
Security Holders.  When the Debtors filed for protection from
their creditors, they listed $1,626,425,000 in total assets and
$1,321,713,000 (excluding the $100,000,000 issue of 6.0% senior
subordinated convertible notes due August 15, 2014, on August 12,
2004) in total debts.  (Interstate Bakeries Bankruptcy News, Issue
No. 36; Bankruptcy Creditors' Service, Inc., 215/945-7000)


MCLEODUSA INC: Files Schedules of Assets and Liabilities
--------------------------------------------------------

A.     Real Property
          Building in Cedar Rapids, IA:
             1st Street Ave. NE                         $36,422
             6250 C St. SW-OSP Bldg.                    817,438
          Land & building in Cedar Rapids, IA:
             6400 C St. SW, Bldg. No. 2              24,531,900

B.     Personal Property
B.1    Cash on hand                                           0
B.2    Checking, savings or other financial accounts
          JPMorgan Chase, Account No. 304292257       8,803,315
          JPMorgan Chase, Account No. 304291390       7,624,490
          JPMorgan Chase, Account No. 304615196       5,574,155
          US Bank, Account No. 121372734              1,166,046
          US Bank, Account No. 196631766                 69,593
          US Bank, Account No. 121376362                  7,844
          US Bank, Account No. 196455994125               5,392
B.3    Security deposits
          Lease deposits
             427 S. LaSalle                              18,813
             530 6TH ST., LLC                            13,047
             635 Remington, LLC                          14,549
             Automotive Rentals                          45,000
             Callowhill Management, Inc.                 45,307
             Capstar/Carlyle Toll Hill, LP               10,546
             Centurion Pacific LLC                       19,375
             City of Phoenix                             40,000
             CLPF-Heritage Five, LP                      13,650
             CLPF-Heritage Five, LP                      11,350
             Downtown Properties, LLC                    67,538
             Farmington Hills DPM Assoc.                 11,250
             Green Fairways, Inc.                        20,509
             Juster Associates                           24,094
             McAllen Properties, Inc.                    11,574
             Quest Software, Inc.                        41,726
             Woodlands Commercial Properties             33,313
             Others                                     108,907
B.4    Household goods and furnishings                        0
B.5    Books, pictures and other art objects                  -
B.6    Wearing apparel                                        0
B.7    Furs and jewelry                                       0
B.8    Firearms and sports, and other hobby equipment         0
B.9    Interests in insurance policies                        0
B.10   Annuities                                              0
B.11   Interest in education IRA or state tuition plan        0
B.12   Interests in pension or profit sharing plans           0
B.13   Stock and interests in businesses                      0
B.14   Interests in partnerships or joint ventures            0
B.15   Government and corporate bonds                         0
B.16   Accounts receivable
          Net Accounts Receivable                     4,041,664
          Intercompany Receivable from:
             McLeodUSA Information                  348,941,385
             McLeodUSA Network                    1,396,796,272
             McLeodUSA Purchasing                   604,882,034
             McLeodUSA Telecom                    1,502,681,025
B.17   Alimony, maintenance, support                          0
B.18   Other liquidated debts                                 0
B.19   Equitable or future interests                          0
B.20   Interests in decedent's estate                         0
B.21   Other contingent and unliquidated claims
          Oklahoma Quality Jobs Rebate                  247,500
B.22   Patents and other intellectual property
          Trademark: McLeodUSA                       37,200,000
          Trademark: Primeline                          142,965
B.23   Licenses, franchises & other intangibles               0
B.24   Customer list or other complications                   0
B.25   Automobiles, trucks, & other vehicles                  0
B.26   Boats, motors, and accessories                         0
B.27   Aircraft and accessories                               0
B.28   Office equipment, furnishings, and supplies            0
B.29   Machinery, fixtures, equipment and supplies            0
B.30   Inventory                                              0
B.31   Animals                                                0
B.32   Growing or harvested crop                              0
B.33   Farm equipment and implements                          0
B.34   Farm supplies, chemicals, and feed                     0
B.35   Other personal property
          Deferred Financing fees                     9,968,728
          Prepaid Bank fees                              60,000
          Prepaid Insurance                           5,017,100
          Prepaid Professional fees                   1,673,442

       TOTAL SCHEDULED ASSETS                    $3,960,839,258
                                                ===============

C.     Property Claimed as Exempt                Not Applicable

D.     Secured Claims
          JPMorgan Chase, as of 10/31/05           $777,277,946
             Accrued Interest, as of 10/31/05        51,105,448

E.     Unsecured Priority Claims
          Property taxes, County of Linn              1,043,168
          Sales & Use tax, State of Iowa           Unliquidated

F.     Unsecured Non-Priority Claims
          Accounts Payable
             ADP, Inc.                                    5,007
             Anderson Partners                           25,941
             Automotive Rentals Inc.                     27,002
             Deloitte & Touche, LLP                      44,055
             Dickinson, Mackaman, Tyler & Hagen           9,941
             Ernst & Young LLP                            5,833
             Eurest Dining Services                       7,800
             Human Capital Solutions                      5,771
             Moss & Barnett PA                            6,775
             QSI Consulting, Inc.                         7,070
             Schiff Hardin LLP                            7,718
             TMP Worldwide                                5,827
             Others                                      34,965
          Intercompany Payable
             McLeodUSA Holdings, Inc.               381,388,171
          Litigation & Potential Litigation        Unliquidated

       TOTAL SCHEDULED LIABILITIES               $1,211,008,438
                                                ===============

Headquartered in Cedar Rapids, Iowa, McLeodUSA Incorporated --
http://www.mcleodusa.com/-- provides integrated communications    
services, including local services in 25 Midwest, Southwest,
Northwest and Rocky Mountain states.  The Debtor and its
affiliates filed for chapter 11 protection on Oct. 28, 2005
(Bankr. N.D. Ill. Case Nos. 05-53229 through 05-63234).  Peter
Krebs, Esq., and Timothy R. Pohl, Esq., at Skadden, Arps, Slate,
Meagher and Flom, represent the Debtors in their restructuring
efforts.  As of June 30, 2005, McLeodUSA Incorporated reported
$674,000,000 in total assets and $1,011,000,000 in total debts.
Judge Squires confirmed the Debtors' Joint Prepackaged Plan of
Reorganization on Dec. 16, 2005, and that plan took effect on
Jan. 6, 2006.

McLeodUSA Inc. previously filed for chapter 11 protection on
Jan. 30, 2002 (Bankr. D. Del. Case No. 02-10288).  The Court
confirmed the Debtor's chapter 11 plan on April 5, 2003, and
that Plan took effect on April 16, 2002.  The Court formally
closed that case on May 20, 2005.  (McLeodUSA Bankruptcy News,
Issue No. 10 Bankruptcy Creditors' Service, Inc., 215/945-7000).


MCLEODUSA INC: Holdings Files Schedules of Assets and Liabilities
-----------------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.13   Stock and interests in businesses
          Shareholder
             McLeodUSA Information Services, Inc.       unknown
             McLeodUSA Telecommunications Services      unknown
B.14   Interests in partnerships or joint ventures
          Partnership
             Midwest Cellular Associates                unknown
B.15   Government and corporate bonds
          Investment in Limited Partnership
             Credit Suisse Asset Management LLC          97,466
B.16   Intercompany receivable
          McLeodUSA Incorporated                    381,388,171
          McLeodUSA Information Services, Inc.            1,038
          McLeodUSA Network Services, Inc.           28,753,212
B.22   Patents and other intellectual property
          Trademark: Key System Preferred               unknown
          Trademark: Oneline Preferred                  unknown
          Trademark: Premium Preferred                  unknown
          Trademark: Simple Preferred                   unknown
          Trademark: Starquality                        unknown
          Trademark: Value Preferred                    unknown
          Trademarks: Preferred Advantage               unknown

       TOTAL SCHEDULED ASSETS                      $410,239,887
                                                  =============

C.     Property Claimed as Exempt                Not Applicable

D.     Secured Claims
          JPMorgan Chase Bank                      Unliquidated

E.     Unsecured Priority Claims                             $0

F.     Unsecured Non-Priority Claims
          Intercompany Payables
             McLeodUSA Purchasing, L.L.C.            44,698,606
             McLeodUSA Telecommunications           188,997,846

       TOTAL SCHEDULED LIABILITIES                 $233,696,452
                                                  =============

Headquartered in Cedar Rapids, Iowa, McLeodUSA Incorporated --
http://www.mcleodusa.com/-- provides integrated communications    
services, including local services in 25 Midwest, Southwest,
Northwest and Rocky Mountain states.  The Debtor and its
affiliates filed for chapter 11 protection on Oct. 28, 2005
(Bankr. N.D. Ill. Case Nos. 05-53229 through 05-63234).  Peter
Krebs, Esq., and Timothy R. Pohl, Esq., at Skadden, Arps, Slate,
Meagher and Flom, represent the Debtors in their restructuring
efforts.  As of June 30, 2005, McLeodUSA Incorporated reported
$674,000,000 in total assets and $1,011,000,000 in total debts.
Judge Squires confirmed the Debtors' Joint Prepackaged Plan of
Reorganization on Dec. 16, 2005, and that plan took effect on
Jan. 6, 2006.

McLeodUSA Inc. previously filed for chapter 11 protection on
Jan. 30, 2002 (Bankr. D. Del. Case No. 02-10288).  The Court
confirmed the Debtor's chapter 11 plan on April 5, 2003, and
that Plan took effect on April 16, 2002.  The Court formally
closed that case on May 20, 2005.  (McLeodUSA Bankruptcy News,
Issue No. 10 Bankruptcy Creditors' Service, Inc., 215/945-7000).


MCLEODUSA INC: Information Files Schedules of Assets & Liabilities
------------------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.16   Accounts Receivable
          Intercompany receivables
             McLeodUSA Network Services, Inc.        30,051,464
             McLeodUSA Purchasing, LLC              126,450,795
             McLeodUSA Telecommunication Services       758,517
B.28   Office equipment, furnishings and supplies
          Furniture                                      34,661
          Leasehold improvement                           6,471
          Office Equipment                                3,986

       TOTAL SCHEDULED ASSETS                      $157,305,894
                                                  =============

C.     Property Claimed as Exempt                Not Applicable

D.     Secured Claims
          JPMorgan Chase Bank                      Unliquidated

E.     Unsecured Priority Claims
          Personal Property Taxes
             Aldine ISD                            Unliquidated
             County of Harris                      Unliquidated
             County of Montgomery                        $9,214
             County of Tulsa                                  2
             Woodlands Metro Center MUD                     890

F.     Unsecured Non-Priority Claims
          Accounts Payable
             Callowhill Management Inc.                  36,665
             Downtown Properties LLC                     52,606
             Others                                       7,614
          Intercompany Payable
             McLeodUSA Holdings, Inc.                     1,038
             McLeodUSA Incorporated                 348,941,385

       TOTAL SCHEDULED LIABILITIES                 $349,049,415
                                                  =============

Headquartered in Cedar Rapids, Iowa, McLeodUSA Incorporated --
http://www.mcleodusa.com/-- provides integrated communications    
services, including local services in 25 Midwest, Southwest,
Northwest and Rocky Mountain states.  The Debtor and its
affiliates filed for chapter 11 protection on Oct. 28, 2005
(Bankr. N.D. Ill. Case Nos. 05-53229 through 05-63234).  Peter
Krebs, Esq., and Timothy R. Pohl, Esq., at Skadden, Arps, Slate,
Meagher and Flom, represent the Debtors in their restructuring
efforts.  As of June 30, 2005, McLeodUSA Incorporated reported
$674,000,000 in total assets and $1,011,000,000 in total debts.
Judge Squires confirmed the Debtors' Joint Prepackaged Plan of
Reorganization on Dec. 16, 2005, and that plan took effect on
Jan. 6, 2006.

McLeodUSA Inc. previously filed for chapter 11 protection on
Jan. 30, 2002 (Bankr. D. Del. Case No. 02-10288).  The Court
confirmed the Debtor's chapter 11 plan on April 5, 2003, and
that Plan took effect on April 16, 2002.  The Court formally
closed that case on May 20, 2005.  (McLeodUSA Bankruptcy News,
Issue No. 10 Bankruptcy Creditors' Service, Inc., 215/945-7000).


MCLEODUSA INC: Network Files Schedules of Assets and Liabilities
----------------------------------------------------------------

A.     Real Property
          Land owned located in:
             1201 Patton St., Sulphur, LA               $38,727
             1400 FM 440, Killeen, TX                    63,624
             1780 Jet Stream Drive, Colorado Springs    218,534
             1864 Dallas Drive, Baton Rouge, LA          29,875
             3501 Digital Drive, Dubuque, IA            188,105
             502 Guy Drive, Temple, TX                  163,209
             5617 West Locust Street, Davenport, IA     273,768
             Others                                     242,935

B.     Personal Property
B.2    Bank Account
          US Bank                                       274,087
B.3    Security deposits
          Lease deposits
             APS Business Center                         22,870
             US Signal                                  399,960
B.13   Stock and interests in businesses
             Membership Interest
                McLeodUSA Purchasing, LLC               unknown
B.16   Accounts receivable
          Accounts receivable
             McLeodUSA Network Services, Inc.           483,911
          Intercompany receivable
             McLeodUSA Telecommunication            518,675,705
B.27   Aircraft and accessories                       
          Falcon 50 (N750MC)                          3,062,500
B.28   Office equipment, furnishings and supplies
          Communication equipment                        92,560
          Computer equipment                              5,081
          Furniture                                      35,613
          Leasehold improvement                         133,549
          Office equipment                                4,357
          Software                                    1,121,566
B.29   Machinery, fixtures, equipment & supplies
          Central office equipment                   37,290,278
          Fiber                                     185,796,133
          Integrated access device                    2,037,819
          Land huts                                   5,197,302
          Land improvement                            5,933,563
          Switch equipment                           31,994,158
          Technical equipment                           781,112
          Testing equipment                             123,129
B.35   Other personal property
          Prepaid maintenance                           495,202
          Prepaid rents                                 476,399

       TOTAL SCHEDULED ASSETS                      $795,655,631
                                                  =============

C.     Property Claimed as Exempt                Not Applicable

D.     Secured Claims
          JP Morgan Chase Bank                     unliquidated

E.     Unsecured Priority Claims
          Personal Property Taxes
             City of Grambling                           $2,290
             City of Lafayette                            2,530
             City of Shreveport                           2,745
             City of St. Louis                           29,020
             County of Albany                             2,669
             County of Barton                            14,188
             County of Bates                             26,634
             County of Bernalillo                        44,532
             County of Bexar                             29,332
             County of Brazos                             1,602
             County of Cache                              1,136
             County of Cass                              15,696
             County of Christian                         23,879
             County of Clackamas                          5,021
             County of Clark                              8,297
             County of Cleveland                          5,215
             County of Comanche                           7,393
             County of Cotton                             5,955
             County of Cuyahoga                          74,229
             County of Dearborn                          11,332
             County of Franklin                          14,926
             County of Grady                              8,364
             County of Grant                             18,021
             County of Greene                            24,696
             County of Jackson                           28,635
             County of Jasper                            20,923
             County of Lake                              55,870
             County of Lawrence                          16,792
             County of Los Angeles                       10,464
             County of Montgomery                        41,277
             County of Multnomah                         34,488
             County of Muskogee                          14,477
             County of Oklahoma                           9,564
             County of Salt Lake                         72,395
             County of Santa Fe                           1,735
             County of Sequoyah                           8,882
             County of Shawnee                            5,592
             County of St. Louis                         30,463
             County of Travis                            21,566
             County of Tulsa                             21,801
             County of Utah                               5,273
             County of Vernon                            27,859
             County of Victoria                           3,132
             County of Wyandotte                          4,020
             East Baton Rouge Parish                      7,917
             Lafayette Parish                            16,863
             Lampasas County Appraisal District           2,766
             Lincoln Parish                               5,388
             Midland County Appraisal District            2,301
             Ouachita Parish                              7,042
             San Saba County Appraisal District           6,148
             St. John the Baptist Parish                  6,840
             State of Wisconsin                         336,258
             Tangipahoa Parish                            3,536
             Woodlands Metro Center MUD                   3,786
             Others                                     114,334
          Sales & Use Taxes
             State of Iowa                         Unliquidated

F.     Unsecured Non-Priority Claims
          Accounts Payable
             Alliant Energy                               4,107
             Ameritech                                    2,750
             Central Iowa Power Coop                      9,280
             Dash Properties                              9,688
             Future Telecom Inc.                          5,600
             Monfox LLC                                   3,099
             Nuvox Communications, Inc.                   6,694
             Qwest                                       42,682
             Robert Half Technology                       3,431
             Southwestern Bell Telephone                  2,389
             Others                                      22,024
          Intercompany Payables
             McLeodUSA Holdings, Inc.                28,753,212
             McLeodUSA Incorporated               1,396,796,272
             McLeodUSA Information                   30,051,464
             McLeodUSA Purchasing                   601,468,040

       TOTAL SCHEDULED LIABILITIES               $2,058,498,758
                                                ===============

Headquartered in Cedar Rapids, Iowa, McLeodUSA Incorporated --
http://www.mcleodusa.com/-- provides integrated communications    
services, including local services in 25 Midwest, Southwest,
Northwest and Rocky Mountain states.  The Debtor and its
affiliates filed for chapter 11 protection on Oct. 28, 2005
(Bankr. N.D. Ill. Case Nos. 05-53229 through 05-63234).  Peter
Krebs, Esq., and Timothy R. Pohl, Esq., at Skadden, Arps, Slate,
Meagher and Flom, represent the Debtors in their restructuring
efforts.  As of June 30, 2005, McLeodUSA Incorporated reported
$674,000,000 in total assets and $1,011,000,000 in total debts.
Judge Squires confirmed the Debtors' Joint Prepackaged Plan of
Reorganization on Dec. 16, 2005, and that plan took effect on
Jan. 6, 2006.

McLeodUSA Inc. previously filed for chapter 11 protection on
Jan. 30, 2002 (Bankr. D. Del. Case No. 02-10288).  The Court
confirmed the Debtor's chapter 11 plan on April 5, 2003, and
that Plan took effect on April 16, 2002.  The Court formally
closed that case on May 20, 2005.  (McLeodUSA Bankruptcy News,
Issue No. 10 Bankruptcy Creditors' Service, Inc., 215/945-7000).


MCLEODUSA INC: Purchasing Files Schedules of Assets & Liabilities
-----------------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.16   Accounts receivable
          McLeodUSA Purchasing, LLC                      72,979
          Intercompany receivable
             McLeodUSA Holdings                      44,735,636
             McLeodUSA Network Services             584,909,756
             McLeodUSA Telecommunications            50,140,421
B.28   Office equipment, furnishings and supplies
          Communication Equipment                       150,410
          Computer Equipment                             49,318
          Furniture                                      24,582
          Leasehold Improvement                          15,493
          Office Equipment                                4,980
          Software                                       47,745
          Software Development                           35,747
B.29   Machinery, fixtures, equipment & supplies
          Central Office Equipment                   19,945,724
          Fiber                                      16,434,410
          Integrated Access Device                       78,524
          Land Huts                                      40,683
          Land improvement                            1,483,140
          Spare parts                                12,769,289
          Switch equipment                            7,546,611
          Technical equipment                            31,165
          Testing equipment                                 219
B.35   Other personal property
          Prepaid Network Equipment                     112,535

       TOTAL SCHEDULED ASSETS                      $738,629,365
                                                  =============

C.     Property Claimed as Exempt                Not Applicable

D.     Secured Claims
          JPMorgan Chase Bank                      Unliquidated

E.     Unsecured Priority Claims
          Personal Property Taxes
             County of Bexar                            $61,440
             County of Brazos                            10,045
             County of Gregg                              6,458
             County of Hidalgo                            3,212
             County of Jackson                            3,885
             County of Jefferson                          3,769
             County of Kenedy                             2,837
             County of Mobile                             6,050
             County of Montgomery                        34,159
             County of Refugio                            4,992
             County of Smith                              5,315
             County of Tarrant                           12,421
             County of Travis                            59,984
             County of Victoria                          19,536
             County of Wharton                            4,148
             County of Zapata                             4,338
             Laredo ISD                                   4,275
             Lubbock County Appraisal District            2,206
             Post ISD                                     3,529
             Swisher County Appraisal District            3,308
             Tom Green County Appraisal District          6,714
             Woodlands Metro Center MUD                   3,133
             Others                                      60,961

F.     Unsecured Non-Priority Claims
          Accounts Payables
             ABM Janitorial Services                     27,951
             Acterna                                      7,303
             Air force one, inc.                         14,181
             Communication & Electrical                   5,665
             Communication Technologies, Inc.            39,977
             Computer Translations, Inc.                 13,050
             Galaxy Communications                       15,500
             Graybar Electric Company                     6,113
             Great Lakes Wire & Cable, Inc.               3,619
             Ikon Office Solutions                        8,158
             Iowa One Call                                9,407
             Klaasmeyer Construction Co., Inc.           25,798
             Koch's Telecommunications                    2,160
             Linderlake Corporation                       4,385
             Lucent Technologies                         83,498
             MP Nexlevel LLC                              8,004
             Nave Communications Company                 12,507
             Nortel Networks, Inc.                        5,901
             Orius Telecommunication SRVC                28,132
             Precision Communications                     6,813
             Robert Half Technology                       4,500
             Southwestern Battery Supply Co.              9,393
             Texus Telecommunications                     8,738
             Turn-Key Network Solutions                  12,487
             United Parcel Service                        6,720
             Walker & Associates, Inc.                   12,874
             Wisconsin Public Service                     9,198
             Others                                      95,606
          Intercompany Payables
             McLeodUSA Incorporated                 604,882,034
             McLeodUSA Information Services         126,450,795

       TOTAL SCHEDULED LIABILITIES                 $732,147,184
                                                  =============

Headquartered in Cedar Rapids, Iowa, McLeodUSA Incorporated --
http://www.mcleodusa.com/-- provides integrated communications    
services, including local services in 25 Midwest, Southwest,
Northwest and Rocky Mountain states.  The Debtor and its
affiliates filed for chapter 11 protection on Oct. 28, 2005
(Bankr. N.D. Ill. Case Nos. 05-53229 through 05-63234).  Peter
Krebs, Esq., and Timothy R. Pohl, Esq., at Skadden, Arps, Slate,
Meagher and Flom, represent the Debtors in their restructuring
efforts.  As of June 30, 2005, McLeodUSA Incorporated reported
$674,000,000 in total assets and $1,011,000,000 in total debts.
Judge Squires confirmed the Debtors' Joint Prepackaged Plan of
Reorganization on Dec. 16, 2005, and that plan took effect on
Jan. 6, 2006.

McLeodUSA Inc. previously filed for chapter 11 protection on
Jan. 30, 2002 (Bankr. D. Del. Case No. 02-10288).  The Court
confirmed the Debtor's chapter 11 plan on April 5, 2003, and
that Plan took effect on April 16, 2002.  The Court formally
closed that case on May 20, 2005.  (McLeodUSA Bankruptcy News,
Issue No. 10 Bankruptcy Creditors' Service, Inc., 215/945-7000).


MCLEODUSA INC: Telecom Files Schedules Of Assets And Liabilities
----------------------------------------------------------------

A.     Real Property
          Land and Land Improvements
             309 Commerce Drive, Norman, OK             $88,520
             14 Highway 38 South, Widener, AR            27,663
             214 Telegraph Road, Prichard, AL            43,593
             2425 US Highway 287, Decatur, TX            41,494
             2700 Eanes Road, N. Little Rock, AR         30,429
             3101 Wilson Avenue, Cedar Rapids, IA        24,783
             4074 South Linden Road, Flint, MI          354,080
             4074 South Linden Road, Flint, MI           55,096
             501 Washington Street, Laredo, TX           30,429
             508 East Airline Highway, La Place, LA      52,559
             6400 C Street-SW-Bldg #2, Cedar Rapids   1,637,729
             899 Baker Road, Haughton, LA                49,793
             900 1/2 Beech Street, McAllen, TX           30,429
             American Road, Toledo, OH                   27,663
             IH-35 and Exit 55, Tornillo, TX             30,429
             Others                                     439,162

B.     Personal Property
B.1    Cash on hand                                         500
B.2    Bank Accounts
          US Bank                                     7,742,122
          Wells Fargo                                   220,761
B.13   Stock and interests in businesses
          Shareholder
             McLeodUSA Network Services, Inc.           unknown
B.16   Accounts receivable
          Net Accounts Receivable
             McLeodUSA Telecommunications            41,842,420
          Intercompany Receivable
             McLeodUSA Holdings, Inc.               188,997,846
B.22   Patents and other intellectual property
          Patent Application No. 09/540,195             unknown
B.23   Licenses, franchises & other intangibles
          Franchise Agreement for Cable Operations      unknown
B.25   Automobiles, trucks, and other vehicles           86,606
B.28   Office equipment, furnishings and supplies
          Communication Equipment                       887,416
          Computer Equipment                             23,951
          Furniture                                   1,846,092
          Leased Equipment                               11,008
          Leasehold Improvement                       1,043,672
          Office Equipment                              198,875
          Signs and Billboards                           23,353
          Software                                       89,876
          Software Development                       11,126,697
B.29   Machinery, fixtures, equipment & supplies     
          Central Office Equipment                      330,332
          Fiber                                      20,036,486
          Land Improvement                            2,592,362
          Switch Equipment                              299,639
          Technical Equipment                           191,102
          Testing Equipment                              15,630
          Tower                                          22,468
B.35   Other personal property
           Customer Lists                             7,000,000
           Deferred Customer Acquisition Costs          415,267
           Deferred Customer Installation Costs         884,893
           Deferred Line Installation Charges        39,933,279
           Prepaid Advertising Expense                   63,340
           Prepaid Line Costs                         4,534,375
           Prepaid Postage Expense                      103,281
           Prepaid Software Maintenance Contracts     1,325,561
           Prepaid Universal Service Fund                76,740

       TOTAL SCHEDULED ASSETS                      $334,929,799
                                                  =============

C.     Property Claimed as Exempt                Not Applicable

D.     Secured Claims
          JPMorgan Chase Bank                      Unliquidated

E.     Unsecured Priority Claims
          Personal Property Taxes
             Aspermont ISD                                5,257
             Bell County Tax Appraisal District          12,307
             Bossier Parish                               6,124
             Brownsboro ISD                               7,491
             Caddo Parish                                37,229
             City of Harlingen & ISD                      7,637
             City of Shreveport                          11,659
             County of Bexar                             39,557
             County of Brazos                             5,474
             County and City of El Paso                  17,645
             County of Gray                               5,443
             County of Guadalupe                          9,466
             County of Henderson                          7,669
             County of Hidalgo                            7,347
             County of Jackson                            9,523
             County of Jefferson                         12,090
             County of Kenedy                             7,609
             County of Liberty                            6,255
             County of McLennan                          20,363
             County of Midland                            1,420
             County of Montague                           1,158
             County of Montgomery                         1,042
             County of Multnomah                          9,735
             County of Muskogee                           4,242
             County of Oklahoma                           5,144
             County of Orange                             5,522
             County of Refugio                            4,750
             County of Robertson                          1,256
             County of San Patricio                       3,116
             County of Sequoyah                           3,617
             County of Smith                             10,940
             County of St. Charles                       18,336
             County of Starr                              5,259
             County of Stonewall                          5,602
             County of Swisher                            1,383
             County of Travis                            29,251
             County of Tulsa                             34,753
             County of Tyler                              6,623
             County of Victoria                          18,508
             County of Waller                             2,768
             County of Ward                               3,451
             County of Washington                         6,536
             County of Webb                               3,687
             County of Wharton                           11,813
             County of Wichita                            8,060
             County of Wise                               9,612
             County of Zapata                            10,505
             Eustace ISD                                  1,206
             Fayette County Appraisal District            2,422
             Frio Cad-Dilley                              1,399
             Frio County Appraisal District               4,192
             Hale County Appraisal District               3,077
             Hardin-Jefferson ISD                         1,300
             Harrison CAD                                10,181
             Haskell County Appraisal District            9,847
             Hill County Appraisal District               1,882
             Jack County Appraisal District               3,631
             Jefferson Davis Parish                       1,952
             Lafayette Parish                             9,749
             LaFourche Parish                             1,079
             Lampasas County Appraisal District           5,260
             Laredo ISD                                   4,250
             Lasalle County Appraisal District            4,360
             Lincoln Parish                               2,733
             Livingston Parish                            1,131
             Lubbock County Appraisal District           10,147
             McCulloch County Appraisal District          3,944
             Midland County Appraisal District            2,664
             Montague County Appraisal District           3,310
             Nacogdoches County                           4,079
             Ouachita Parish                              5,391
             Parker County Appraisal District             2,879
             Pecos-Barstow-Toyah ISD                      5,016
             Pine Tree ISD                                2,622
             Post ISD                                     2,525
             Roma ISD                                     4,520
             San Saba County Appraisal District           4,126
             Southland ISD                                1,031
             St. Charles Parish                           1,163
             St. Mary Parish                              1,635
             Swisher County Appraisal District            3,813
             Taylor County Central                        1,562
             Throckmorton County                          7,474
             Tom Green County Appraisal District          7,774
             United ISD                                   8,845
             Wise County Appraisal District               8,737
             Others                                     149,970
          Sales and Use Tax
             City of Omaha                               11,725
             City of Phoenix                              8,423
             City of Plano                                2,378
             City of Port Orchard                         1,127
             City of Pueblo                               5,759
             City of Renton                               1,339
             City of Richardson                           1,955
             City of San Angelo                           1,342
             City of San Antonio                         24,921
             City of Seattle                              5,919
             City of Spokane                              3,925
             City of Springfield                          4,769
             City of St. Charles                          1,821
             City of St. Louis                            8,903
             City of Tacoma                               4,157
             City of Tucson                               4,400
             City of Vancouver                            2,375
             City of Victoria                             2,368
             City of Waco                                 2,181
             Federal Excise Tax-720                     823,627
             South Dakota Department                     20,760
             State of Arizona                            48,864
             State of Arkansas                            3,498
             State of Colorado                          108,528
             State of Florida                             5,810
             State of Indiana                           101,637
             State of Kansas                             13,545
             State of Minnesota                         191,812
             State of Missouri                           69,264
             State of Montana                            11,624
             State of Nebraska                           21,875
             State of New Mexico                         38,265
             State of New York                            1,266
             State of New York                            2,648
             State of North Dakota                       21,410
             State of Ohio                               39,155
             State of Oklahoma                           10,288
             State of Pennsylvania                        4,836
             State of Texas                              75,147
             State of Texas                              13,335
             State of Utah                               54,620
             State of Utah                               31,692
             State of Washington                         81,201
             State of Wisconsin                          93,762
             State of Wyoming                            24,035
             Telecommunications Excise Tax               25,539
             Others                                     238,648

F.     Unsecured Non-Priority Claims
          Accounts Payable
             Ameritech                                  544,284
             Ameritech Pagesplus                         82,961
             Ameritech-Cabs                           5,509,801
             Ameritech-Lec Services                     143,310
             AT&T Wireless                               36,598
             AT&T Wireless Services, Inc.                45,688
             Bell South                                  22,803
             Centurytel                                  27,294
             Centurytel of the Midwest Wisconsin         22,308
             Centurytel of Washington                    52,190
             Citizens Communications                     30,138
             Consolidated Communications                 42,832
             Cricket Communications                      36,906
             Emeritus Communications                    211,912
             Global Crossing                             77,867
             Grande Communications Networks             124,178
             IBM Corporation                            246,755
             Iowa Telecom                                39,660
             Protocol Services Inc.                      28,174
             Qwest                                    6,857,256
             Southwestern Bell Telephone                570,409
             U.S. Postmaster                             25,500
             Universal Service                          401,522
             US West Communications                     201,192
             Verizon                                    167,158
             Voicestream Wireless Corp.                  63,929
             Others                                     483,202

          Intercompany Payable
             McLeodUSA Incorporated               1,502,680,989
             McLeodUSA Information                      758,517
             McLeodUSA Network                      518,675,705
             McLeodUSA Purchasing                    33,619,166

       TOTAL SCHEDULED LIABILITIES               $2,074,883,797
                                                ===============

Headquartered in Cedar Rapids, Iowa, McLeodUSA Incorporated --
http://www.mcleodusa.com/-- provides integrated communications    
services, including local services in 25 Midwest, Southwest,
Northwest and Rocky Mountain states.  The Debtor and its
affiliates filed for chapter 11 protection on Oct. 28, 2005
(Bankr. N.D. Ill. Case Nos. 05-53229 through 05-63234).  Peter
Krebs, Esq., and Timothy R. Pohl, Esq., at Skadden, Arps, Slate,
Meagher and Flom, represent the Debtors in their restructuring
efforts.  As of June 30, 2005, McLeodUSA Incorporated reported
$674,000,000 in total assets and $1,011,000,000 in total debts.
Judge Squires confirmed the Debtors' Joint Prepackaged Plan of
Reorganization on Dec. 16, 2005, and that plan took effect on
Jan. 6, 2006.

McLeodUSA Inc. previously filed for chapter 11 protection on
Jan. 30, 2002 (Bankr. D. Del. Case No. 02-10288).  The Court
confirmed the Debtor's chapter 11 plan on April 5, 2003, and
that Plan took effect on April 16, 2002.  The Court formally
closed that case on May 20, 2005.  (McLeodUSA Bankruptcy News,
Issue No. 10 Bankruptcy Creditors' Service, Inc., 215/945-7000).


MERIDIAN AUTOMOTIVE: Posts $16.6 Million Net Loss in December 2005
------------------------------------------------------------------

               Meridian Automotive Systems - Composites
                  Operations, Inc. and Subsidiaries
                Unaudited Consolidated Balance Sheet
                       As of December 31, 2005
                            (In Thousands)

CURRENT ASSETS:
     Cash                                                      -
     Accounts receivable, net                            $97,884
     Intercompany receivable                              14,099
     Inventories                                          77,100
     Tooling costs in excess of billings and others       22,851
                                                      ----------
        TOTAL CURRENT ASSETS                             211,934
                                                      ----------
     Property, plant and equipment, net                  233,064
     Intangible assets                                    15,346
     Investment in subsidiaries                           23,863
     Other assets                                         19,167
                                                      ----------
        TOTAL ASSETS                                    $503,374
                                                      ==========

CURRENT LIABILITIES NOT SUBJECT TO COMPRISE:
     Current portion of long term debt                  $324,088
     Accounts payable                                     45,121
     Accrued expenses                                     43,864
     Tooling billings in excess of costs                   5,840
                                                      ----------
        TOTAL CURENT LIABILITIES                         418,913
                                                      ----------

     Liabilities subject to comprise                     463,535
     Non-Current Liabilities Not Subject to Compromise:
        Other long-term liabilities                       17,196
        Accumulated post-retirement benefit obligation    17,127
                                                      ----------
        TOTAL LIABILITIES                                916,771
        STOCKHOLDERS' EQUITY                            (413,397)
                                                      ----------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT             $503,374
                                                      ==========

               Meridian Automotive Systems - Composite
                  Operations, Inc. and Subsidiaries
                  Unaudited Statement of Operations
                        December 1 to 31, 2005
                            (In Thousands)

Net sales                                                $58,057
Cost of sales                                             62,250
                                                      ----------
Gross profit                                              (4,193)
Selling, general and administrative expenses               4,188
Restructuring charges                                      3,013
                                                      ----------
Operating income (loss)                                  (11,394)
Interest expense, net                                      6,055
Other (expense) income                                        60
Chapter 11 and related reorganization items                 (642)
                                                      ----------
Loss before provision for income taxes                   (16,747)
(Benefit) Provision for income taxes                         (51)
                                                      ----------
NET LOSS                                                ($16,696)
                                                      ==========

               Meridian Automotive Systems - Composite
                  Operations, Inc. and Subsidiaries
                  Unaudited Statement of Cash Flows
                        December 1 to 31, 2005
                            (In Thousands)

OPERATING ACTIVITIES:
     Net loss                                           ($16,696)
     Adjustments required to reconcile net loss to net
        cash provided by (used in) operating activities:
        Depreciation, amortization, and impairment         3,580
        Change in working capital and other operating
        items                                             22,883
                                                      ----------
        Net cash provided by (used for) operating
           activities before reorganization items          9,767
                                                      ----------
     Operating cash flows from reorganization items:
        Chapter 11 and related reorganization items         (642)
        Payments on Chapter 11 and related reorg items    (2,980)
                                                      ----------
        Net cash provided by Chapter 11 and related
           reorg items                                    (3,622)

        Net cash provided by (used for) operating
           activities                                      6,145

INVESTING ACTIVITIES:
     Additions to property and equipment                  (5,805)
     Proceeds from sale or property and equipment             60
                                                      ----------
        Net cash used for investing activities            (5,745)
                                                      ----------

FINANCING ACTIVITIES:
     Proceeds from prepetition borrowings                      -
     Repayments of prepetition borrowings                      -
     Proceeds from DIP credit facility                    29,000
     Repayments of DIP credit facility                   (29,400)
     Repayments on prepetition long-term debt                  -
     Deferred financing costs capitalized                      -
                                                      ----------
Net cash (used for) provided by financing activities       (400)
                                                      ----------
Net increase (decrease) in cash                                -
                                                      ----------
Cash and Cash Equivalents, beginning of period                 -

Cash and Cash Equivalents, end of period                       -
                                                      ==========

Headquartered in Dearborn, Mich., Meridian Automotive Systems,
Inc. -- http://www.meridianautosystems.com/-- supplies   
technologically advanced front and rear end modules, lighting,
exterior composites, console modules, instrument panels and other
interior systems to automobile and truck manufacturers.  Meridian
operates 22 plants in the United States, Canada and Mexico,
supplying Original Equipment Manufacturers and major Tier One
parts suppliers.  The Company and its debtor-affiliates filed for
chapter 11 protection on April 26, 2005 (Bankr. D. Del. Case Nos.
05-11168 through 05-11176).  James F. Conlan, Esq., Larry J.
Nyhan, Esq., Paul S. Caruso, Esq., and Bojan Guzina, Esq., at
Sidley Austin Brown & Wood LLP, and Robert S. Brady, Esq., Edmon
L. Morton, Esq., Edward J. Kosmowski, Esq., and Ian S. Fredericks,
Esq., at Young Conaway Stargatt & Taylor, LLP, represent the
Debtors in their restructuring efforts.  When the Debtors filed
for protection from their creditors, they listed $530 million in
total assets and approximately $815 million in total liabilities.
(Meridian Bankruptcy News, Issue No. 22; Bankruptcy Creditors'
Service, Inc., 215/945-7000).


SOLUTIA INC: Posts $30 Million Net Loss in December 2005
--------------------------------------------------------

                     Solutia Chapter 11 Debtors
       Unaudited Statement of Consolidated Financial Position
                       As of December 31, 2005

                               Assets

Current Assets:
    Cash                                             $18,000,000
    Trade Receivables, net                           125,000,000
    Account Receivables-Unconsolidated Subsidiaries   41,000,000
    Inventories                                      174,000,000
    Other Current Assets                              89,000,000
                                                  --------------
Total Current Assets                                 447,000,000

Property, Plant and Equipment, net                   674,000,000
Investments in Subsidiaries and Affiliates           538,000,000
Intangible Assets, net                               100,000,000
Other Assets                                          61,000,000
                                                  --------------
TOTAL ASSETS                                      $1,820,000,000
                                                  ==============

                Liabilities and Shareholders' Deficit

Current Liabilities:
    Accounts Payable                                $175,000,000
    Short Term Debt                                  300,000,000
    Other Current Liabilities                        168,000,000
                                                  --------------
Total Current Liabilities                            643,000,000

Other Long-Term Liabilities                          201,000,000
                                                  --------------
Total Liabilities not Subject to Compromise          844,000,000
Liabilities Subject to Compromise                  2,280,000,000

Shareholders' Deficit                             (1,304,000,000)
                                                  --------------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT         $1,820,000,000
                                                  ==============

                     Solutia Chapter 11 Debtors
           Unaudited Consolidated Statement of Operations
                For the Month Ended December 31, 2005

Total Net Sales                                     $181,000,000
Total Cost Of Goods Sold                             180,000,000
                                                  --------------
Gross Profit                                           1,000,000
Total MAT Expense                                     22,000,000
                                                  --------------
Operating Loss                                       (21,000,000)

Equity Earnings from Affiliates                       (2,000,000)
Interest Expense, net                                 (5,000,000)
Other Income, net                                      3,000,000
Reorganization Items:
    Professional fees                                 (4,000,000)
    Employee severance and retention costs                     -
    Settlements of prepetition claims                  4,000,000
    Other                                             (1,000,000)
                                                  --------------
Total Reorganization Items                            (1,000,000)
                                                  --------------
Income Before Taxes                                  (28,000,000)
Income Taxes                                           2,000,000
                                                  --------------
NET LOSS                                            ($30,000,000)
                                                  ==============

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. 55; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


UAL CORPORATION: Posts $16 Million Net Loss in December 2005
------------------------------------------------------------

             UAL Corporation and Subsidiary Companies
         Condensed Consolidating Statement of Operations
              For The Month Ended December 31, 2005
                         (In Thousands)

Total operating revenues                             $1,490,513

Total operating expenses                              1,612,470
                                                     ----------
Earnings (loss) from operations                        (121,957)

Non-operating income (expenses):
   Net interest expense                                 (55,772)
   Other income (expenses), net:                         17,274
                                                     ----------
Total non-operating income (expenses):                  (38,498)
                                                     ----------
Net Earnings (loss) before Reorganization items        (160,455)

Reorganization Expenses                             (15,863,774)
                                                     ----------
Net earnings (loss)                                ($16,024,229)
                                                     ==========

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.  Judge Wedoff confirmed
the Debtors' Second Amended Plan on Jan. 20, 2006. The Company
emerged from bankruptcy protection on February 1, 2006.  (United
Airlines Bankruptcy News, Issue Nos. 118; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


WINN-DIXIE: Earns $1.6 Million for Period Ended January 11
----------------------------------------------------------

                   Winn-Dixie Stores, Inc., et al.
                Unaudited Consolidated Balance Sheet
                        At January 11, 2006
                           (In thousands)

                               Assets

Current assets:
    Cash and cash equivalents                            $81,842
    Marketable securities                                 13,254
    Trade and other receivables, net                     166,098
    Insurance claims receivable                           73,187
    Income tax receivable                                 30,283
    Merchandise inventories, net                         523,778
    Prepaid expenses and other current assets             64,475
                                                    ------------
Total current assets                                     952,917

Property, plant and equipment, net                       548,314
Other assets, net                                        125,681
                                                    ------------
Total assets                                          $1,626,912
                                                    ============

               Liabilities and Shareholders' Deficit

Current liabilities:
    Current portion of long-term debt                       $223
    Current obligations under capital leases               4,073
    Accounts payable                                     246,311
    Reserve for self-insurance liabilities                86,099
    Accrued wages and salaries                            77,140
    Accrued rent                                          32,729
    Accrued expenses                                     109,258
                                                    ------------
Total current liabilities                                555,833

Reserve for self-insurance liabilities                   142,527
Long-term debt                                               263
Long-term borrowings under DIP Credit Facility            40,000
Obligations under capital leases                           5,134
Other liabilities                                         17,335
                                                    ------------
Total liabilities not subject to compromise              761,092

Liabilities subject to compromise                      1,122,996
                                                    ------------
Total liabilities                                      1,884,088

Shareholders' deficit:
    Common stock                                         141,682
    Additional paid-in-capital                            32,087
    Accumulated deficit                                 (395,388)
    Accumulated other comprehensive loss                 (35,557)
                                                    ------------
Total shareholders' deficit                             (257,176)
                                                    ------------
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT           $1,626,912
                                                    ============

                  Winn-Dixie Stores, Inc., et al.
           Unaudited Consolidated Statement of Operations
                 Four Weeks Ended January 11, 2006
                           (In thousands)

Net sales                                               $630,335
Cost of sales                                            470,879
                                                    ------------
Gross profit on sales                                    159,456

Other operating and administrative expenses              157,962
Impairment charges                                         1,888
Restructuring gains                                       (9,723)
                                                    ------------
Operating income                                           9,329

Interest expense, net                                        822
                                                    ------------
Earnings before reorganization items and
    income taxes                                           8,507
Reorganization items, net                                  3,542
Income tax expense                                             -
                                                    ------------
Net earnings from continuing operations                    4,965

Discontinued operations:
    Loss from discontinued operations                     (4,104)
    Gain on disposal of discontinued operations              746
    Income tax expense                                         -
                                                    ------------
Net loss from discontinued operations                     (3,358)
                                                    ------------
Net income                                                $1,607
                                                    ============

                  Winn-Dixie Stores, Inc., et al.
           Unaudited Consolidated Statement of Cash Flows
                 Four Weeks Ended January 11, 2006
                           (In thousands)

Cash flows from operating activities:
    Net income                                            $1,607
    Adjustments to reconcile net loss to
     net cash provided by operating activities:
       Gain on sales of assets, net                       (5,707)
       Reorganization items, net                           3,542
       Depreciation and amortization                       7,923
       Stock compensation plans                              711
       Change in operating assets and liabilities:
          Trade and other receivables                      8,639
          Merchandise inventories                         32,133
          Prepaid expenses and other current assets       (1,617)
          Accounts payable                               (19,310)
          Reserve for self-insurance liabilities         (10,502)
          Lease liability on closed facilities            (1,590)
          Income taxes payable                                16
          Defined benefit plan                              (156)
          Other accrued expenses                           4,263
                                                    ------------
       Net cash provided by operating
        activities before reorganization items            21,840
       Cash effect of reorganization items                  (628)
                                                    ------------
Net cash provided by operating activities                 21,212

Cash flows from investing activities:
    Purchases of property, plant and equipment            (2,612)
    Increase in investments and other assets                (550)
    Proceeds from sales of assets                          8,230
    Purchases of marketable securities                      (298)
    Sales of marketable securities                           268
    Other                                                    879
                                                    ------------
Net cash provided by investing activities                  5,917

Cash flows from financing activities:
    Gross borrowings on DIP Credit Facility               37,819
    Gross payments on DIP Credit Facility                (37,843)
    Principal payments on long-term debt                     (18)
    Principal payments on capital lease obligations         (119)
    Other                                                    219
                                                    ------------
Net cash provided by financing activities                     58
                                                    ------------
Decrease in cash and cash equivalents                     27,187
Cash and cash equivalents at beginning of period          54,655
                                                    ------------
Cash and cash equivalents at end of period               $81,842
                                                    ============

Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers.  The Company operates stores across the
Southeastern United States and in the Bahamas and employs
approximately 90,000 people.  The Company, along with 23 of its
U.S. subsidiaries, filed for chapter 11 protection on Feb. 21,
2005 (Bankr. S.D.N.Y. Case No. 05-11063, transferred Apr. 14,
2005, to Bankr. M.D. Fla. Case Nos. 05-03817 through 05-03840).
D.J. Baker, Esq., at Skadden Arps Slate Meagher & Flom LLP, and
Sarah Robinson Borders, Esq., and Brian C. Walsh, Esq., at King &
Spalding LLP, represent the Debtors in their restructuring
efforts.  Paul P. Huffard at The Blackstone Group, LP, gives
financial advisory services to the Debtors.  Dennis F. Dunne,
Esq., at Milbank, Tweed, Hadley & McCloy, LLP, and John B.
Macdonald, Esq., at Akerman Senterfitt give legal advice to the
Official Committee of Unsecured Creditors.  Houlihan Lokey &
Zukin Capital gives financial advisory services to the
Committee.  When the Debtors filed for protection from their
creditors, they listed $2,235,557,000 in total assets and
$1,870,785,000 in total debts.  (Winn-Dixie Bankruptcy News,
Issue No. 33; 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,
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Nothing in the TCR constitutes an offer or solicitation to buy or
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Each Tuesday edition of the TCR contains a list of companies with
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of Delaware, contact Ken Troubh at Nationwide Research &
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                             *********

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  
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