/raid1/www/Hosts/bankrupt/TCR_Public/060401.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, April 1, 2006, Vol. 10, No. 78

                             Headlines

ADELPHIA COMMS: Incurs $10.2 Million Net Loss in February 2006
COLLINS & AIKMAN: Incurs $15.3 Million Net Loss in February 2006
FEDERAL-MOGUL: Incurs $40.1 Million Net Loss in February 2006
INTERSTATE BAKERIES: Incurs $20.8 Mil. Net Loss in February 2006
MUSICLAND HOLDING: Incurs $20.6 Million Net Loss in January 2006

MUSICLAND HOLDING: Incurs $57.3 Million Net Loss in February 2006
PERFORMANCE TRANSPORTATION: Logistics Files Schedules
PERFORMANCE TRANSPORTATION: E&L Transport Files Schedules
PERFORMANCE TRANSPORTATION: Vehicle Logistics Files Schedules
PERFORMANCE TRANSPORTATION: PLG Leasing Files Schedules

PERFORMANCE TRANSPORTATION: LAC Holdings Files Schedules
PERFORMANCE TRANSPORTATION: Automotive Logistics Files Schedules
PERFORMANCE TRANSPORTATION: Hadley Auto Transport Files Schedules
PERFORMANCE TRANSPORTATION: Hadley Computer Files Schedules

                             *********

ADELPHIA COMMS: Incurs $10.2 Million Net Loss in February 2006
--------------------------------------------------------------

            Adelphia Communications Corporation, et al.
               Unaudited Consolidated Balance Sheet
                     As of February 28, 2006
                      (Dollars in thousands)

                              ASSETS

Cash and cash equivalents                              $465,028
Restricted cash                                          25,917
Accounts receivables - net                              114,610
Receivable for securities                                10,029
Other current assets                                    195,558
                                                    -----------
Total current assets                                    811,142

Restricted cash                                         264,254
Investments in equity affiliates                          7,128
Receivables from non-filing entities                    717,915
Property and equipment - net                          4,181,172
Intangible assets - net                               7,035,222
Other noncurrent assets - net                           100,360
                                                    -----------
Total Assets                                        $13,117,193
                                                    ===========

               LIABILITIES AND STOCKHOLDERS' EQUITY

Accounts payable                                       $155,329
Subscriber advance payments and deposits                 33,323
Accrued liabilities                                     541,325
Deferred income                                          20,537
Current portion of parent and subsidiary debt           916,082
                                                    -----------
Total current liabilities                             1,666,596

Other liabilities                                        26,529
Deferred income                                          56,220
Deferred income taxes                                   749,421
                                                    -----------
Total noncurrent liabilities                            832,170

Liabilities subject to compromise                    18,415,463
                                                    -----------
Total liabilities                                    20,914,229

Minority interests in equity of subsidiary               71,124

Stockholders' equity:
   Series preferred stock                                   397
   Class A and Class B common stock                       2,548
   Additional paid-in capital                         9,567,154
   Accumulated other comprehensive income                    47
   Accumulated deficit                              (17,410,369)
   Treasury stock, at cost                              (27,937)
                                                    -----------
Total stockholders' equity                           (7,868,160)
                                                    -----------
Total liabilities and stockholders' equity          $13,117,193
                                                    ===========


            Adelphia Communications Corporation, et al.
          Unaudited Consolidated Statements of Operations
                 Month Ended February 28, 2006
                      (Dollars in thousands)

Revenue                                                $362,550
Cost and expenses:
   Direct operating and programming                     208,813
   Selling, general and administrative                   28,970
   Investigation, re-audit and sale transaction co        6,326
   Depreciation and amortization                         69,126
   Impairment of long-lived assets                            -
   Provision for uncollectible amounts from Rigases           -
   Gains on dispositions of long-lived assets            (1,104)
                                                    -----------
Operating income (loss)                                  50,419

Other income (expense):
   Interest expense                                     (49,702)
   Impairment of cost & available for sale investment         -
   Other income (expense) - net                           1,738
                                                    -----------
      Total other expense - net                         (47,964)
                                                    -----------
Loss from continuing operations before reorganization     2,455

Reorganization expenses due to bankruptcy                 7,021
                                                    -----------
Loss from continuing operations before income taxes       9,476
Income tax benefit                                            -
Share of losses of equity affiliates - net                   (9)
Minority's interest in subsidiary losses - net              744
                                                    -----------
Net loss                                                 10,211
Beneficial conversion feature                                 -
                                                    -----------
Net loss applicable to common stockholders              $10,211
                                                    ===========


            Adelphia Communications Corporation, et al.
          Unaudited Consolidated Statements of Cash Flows
             For the Month Ended February 28, 2006
                      (Dollars in thousands)

Cash flows from operating activities:
   Net loss                                             $10,211
   Adjustments to reconcile net loss to net cash
   provided by (used in) operating activities:
      Depreciation and amortization                      69,126
      Impairment of long-lived assets                         -
      Provision for uncollectible amounts from Rigases        -
      Gains on disposition of long-lived assets          (1,104)
      Amortization of debt issuance costs                   282
      Impairment of cost & available for sale investments     -
      Provision for settlements                               -
      Reorganization expenses due to bankruptcy          (7,021)
      Deferred tax expense (benefit)                          -
      Share in losses of equity affiliates - net              9
      Minority interest in losses of subsidiaries          (744)
      Other noncash gains                                     -
      Depreciation, amortization and other non-cash
         items from discontinued operations                   -
      Change in operating assets & liabilities           15,155
                                                    -----------
Net cash provided by operating activities before
payment of reorganization expenses                       85,914

Reorganization expenses paid during the period           (2,601)
                                                    -----------
Net cash provided by (used in) operating activities      83,313

Cash flows from investing activities:
   Expenditures for property, plant and equipment       (40,992)
   Changes in restricted cash                            (1,922)
   Proceeds from sale of investments                      1,104
   Other                                                  2,656
                                                    -----------
Net cash used in investing activities                   (39,154)

Cash flows from financing activities:
   Proceeds from debt                                    44,000
   Repayments of debt                                    (3,529)
   Payment of debt issuance costs                             -
                                                    -----------
Net cash provided by financing activities                40,471

Change in cash and cash equivalents cash                 84,630

Cash, beginning of period                               380,398
                                                    -----------
Cash, end of period                                    $465,028
                                                    ===========

Headquartered in Coudersport, Pa., 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.  Kasowitz, Benson, Torres & Friedman, LLP, and Klee,
Tuchin, Bogdanoff & Stern LLP represent the Official Committee of
Unsecured Creditors.  (Adelphia Bankruptcy News, Issue No. 126;
Bankruptcy Creditors' Service, Inc., 215/945-7000)


COLLINS & AIKMAN: Incurs $15.3 Million Net Loss in February 2006
----------------------------------------------------------------

                   Collins & Aikman Corporation
                          Balance Sheet
                      As of February 2006

Current assets:
   Cash                                             $63,684,831
   Accounts receivable, net                         126,702,086
   Other non-trade receivables                        6,488,582
   Inventories, net                                 108,950,539
   Tooling and molding, net - current                64,314,060
   Prepaids & other current assets                   74,183,529
   Deferred tax assets - current                        (87,825)
                                                ---------------
   Total current assets                             444,235,802

Investment in subsidiaries                        2,534,708,519
Fixed assets, net                                   328,189,523
Goodwill, net                                       978,554,071
Deferred tax assets - long term                      25,938,826
Tooling and molding, net-long term                   10,221,338
Other noncurrent assets                              92,331,737
Intercompany assets                                 171,319,009
PP IC accounts receivable                           671,429,883
                                                ---------------
TOTAL ASSETS                                     $5,256,928,708
                                                ===============

                        LIABILITIES & EQUITY

Current liabilities:
   Notes payable                                             $0
   Short term borrowings                                      0
   Advance on receivables                                     0
   Current portion - long term debt                 248,825,000
   Current portion - capital leases                           0
   Accounts payable                                  41,777,794
   Accrued interest payable                           6,073,867
   Accrued & other liabilities                       86,240,146
   Income taxes payable                              (5,754,126)
                                                ---------------
   Total current liabilities                        377,162,681

Liabilities subject to compromise                 2,375,538,544
                                                ---------------
Total Liabilities                                 2,752,701,225

Total Equity                                      2,504,227,483
                                                ---------------
TOTAL LIABILITIES & EQUITY                       $5,256,928,708
                                                ===============


                   Collins & Aikman Corporation
                         Income Statement
                     Month of February 2006

Net outside sales                                  $157,857,450
I/C Net sales                                        10,840,059
                                                ---------------
Total sales                                         168,697,509

Cost of goods sold                                  157,053,957
                                                ---------------
Gross profit                                         11,643,552

Selling, general & administrative expenses           22,243,588
                                                ---------------
Operating income                                    (10,600,036)

Interest expenses                                     7,241,489
Intercompany interest, net                           (2,385,801)
Preferred stock accretion                                     0
Miscellaneous (income)/expense                                0
Corporate allocation adjustment                               0
Commission income                                      (193,601)
Commission expense                                            0
Royalty income                                         (498,305)
Royalty expense                                               0
Joint Venture (Income)/Expense                                0
Minority interest in cons net income                          0
Dividend income                                               0
Discount/Income for Carcorp.                                  0
Gain/(Loss) early extinguishments of debt                     0
Discount/Premium on hedges                                    0
(Gain)/Loss on hedges                                         0
(Gain)/Loss on swaps                                          0
NAAIS Intercompany sales profit                               0
Loss on sale of receivables                                   0
Restructuring provision                                       0
Foreign transactions - (Gain)/Loss                      444,381
Amort of discount on NPV of liabilities                       0
(Gain)/Loss on sale-leaseback transaction                     0
                                                ---------------
Income from continuing operations before taxes      (15,208,200)

Federal income tax                                            0
State income tax                                              0
Foreign income tax                                       25,813
                                                ---------------
Income from continuing operations                   (15,234,013)

Discontinued operations                                 110,035
Gain/Loss on sale of divisions                                0
Extraordinary items                                           0
Integration                                                   0
                                                ---------------
NET INCOME (LOSS)                                  ($15,344,048)
                                                ===============

Headquartered in Troy, Michigan, Collins & Aikman Corporation
-- http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a leading
supplier of instrument panels, automotive fabric, plastic-based
trim, and convertible top systems.  The Company has a workforce of
approximately 23,000 and a network of more than 100 technical
centers, sales offices and manufacturing sites in 17 countries
throughout the world.  The Company and its debtor-affiliates filed
for chapter 11 protection on May 17, 2005 (Bankr. E.D. Mich. Case
No. 05-55927).  Richard M. Cieri, Esq., at Kirkland & Ellis LLP,
represents C&A in its restructuring.  Lazard Freres & Co., LLC,
provides the Debtor with investment banking services.  Michael S.
Stammer, Esq., at Akin Gump Strauss Hauer & Feld LLP, represents
the Official Committee of Unsecured Creditors Committee.  When the
Debtors filed for protection from their creditors, they listed
$3,196,700,000 in total assets and $2,856,600,000 in total debts.
(Collins & Aikman Bankruptcy News, Issue No. 28; Bankruptcy
Creditors' Service, Inc., 215/945-7000)


FEDERAL-MOGUL: Incurs $40.1 Million Net Loss in February 2006
-------------------------------------------------------------

                Federal-Mogul Global, Inc., et al.   
                     Unaudited Balance Sheet
                      As of February 28, 2006
                          (In millions)

                             Assets

Cash and equivalents                                     $782.7
Accounts receivable                                       571.4
Inventories                                               458.4
Deferred taxes                                             95.3
Prepaid expenses and other current assets                  91.4
                                                     ----------
Total current assets                                    1,999.3
   
Summary of Unpaid Postpetition Debits                     (51.1)
Intercompany Loans Receivable (Payable)                 2,097.0
                                                     ----------
Intercompany Balances                                   2,045.9
   
Property, plant and equipment                             878.7
Goodwill                                                  945.9
Other intangible assets                                   407.4
Insurance recoverable                                     783.9
Other non-current assets                                  964.7
                                                     ----------
Total Assets                                           $8,025.7
                                                     ==========
   
               Liabilities and Shareholders' Equity   
   
Short-term debt                                          $572.0
Accounts payable                                          221.7
Accrued compensation                                       64.0
Restructuring and rationalization reserves                 20.0
Current portion of asbestos liability                         -
Interest payable                                            4.6
Other accrued liabilities                                 233.3
                                                     ----------
Total current liabilities                               1,115.5
   
Long-term debt                                                -
Post-employment benefits                                1,913.9
Other accrued liabilities                                 810.2
Liabilities subject to compromise                       5,993.7

Shareholders' equity:   
   Preferred stock                                      1,050.6
   Common stock                                           565.8
   Additional paid-in capital                           8,053.8
   Accumulated deficit                                (10,231.3)
   Accumulated other comprehensive income              (1,246.4)
   Other                                                      -
                                                     ----------
Total Shareholders' Equity                             (1,807.5)
                                                     ----------
Total Liabilities and Shareholders' Equity             $8,025.7
                                                     ==========
   
   
                Federal-Mogul Global, Inc., et al.   
                Unaudited Statement of Operations   
              For the month ended February 28, 2006   
                          (In millions)   
   
Net sales                                                $256.4
Cost of products sold                                     221.8
                                                     ----------
Gross margin                                               34.6
   
Selling, general & administrative expenses                (50.2)
Amortization                                               (1.2)
Reorganization items                                       (7.1)
Interest income (expense), net                            (12.5)
Other income (expense), net                                (3.4)
                                                     ----------
Earnings before Income Taxes                              (39.8)
   
Income Tax (Expense) Benefit                               (0.4)
                                                     ----------
Earnings before effect of change in acctg principle       (40.1)
Cumulative effect of change in acctg principle                -
                                                     ----------
Net Earnings (loss)                                      ($40.1)
                                                     ==========
   
   
                Federal-Mogul Global, Inc., et al.   
                Unaudited Statement of Cash Flows   
              For the month ended February 28, 2006   
                          (In millions)   
   
Cash Provided From (Used By) Operating Activities:   
   Net earnings (loss)                                   ($40.1)
Adjustments to reconcile net earnings (loss):   
   Depreciation and amortization                           12.8
   Adjustments of assets held for sale to fair value          -
   Asbestos Charge                                            -
   Summary of unpaid postpetition debits                      -
   Cumulative effect of change in acctg principle             -
   Change in post-employment benefits                       4.7
   Decrease/(increase) in accounts receivable              (1.5)
   Decrease/(increase) in inventories                      (5.0)
   Increase/(decrease) in accounts payable                 10.1
   Change in other assets and other liabilities           (19.1)
   Change in restructuring charge                          12.4
   Refunds (payments) against asbestos liability              -
                                                     ----------
Net Cash Provided From Operating Activities               (25.7)
   
Cash Provided From (Used By) Investing Activities:   
   Expenditures for property, plant & equipment            (3.8)
   Proceeds from sale of property, plant & equipment          -
   Proceeds from sale of businesses                           -
   Business acquisitions, net of cash acquired                -
   Other                                                      -
                                                     ----------
Net Cash Provided From (Used By) Investing Activities      (3.8)
   
Cash Provided From (Used By) Financing Activities:   
   Increase (decrease) in debt                             48.4
   Sale of accounts receivable under securitization           -
   Dividends                                                  -
   Other                                                   (9.3)
                                                     ----------
Net Cash Provided From Financing Activities                39.1
   
Increase (Decrease) in Cash and Equivalents                 9.7
   
Cash and equivalents at beginning of period               773.1
                                                     ----------
Cash and equivalents at end of period                    $782.7
                                                     ==========

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is one of the world's largest
automotive parts companies with worldwide revenue of some US$6
billion.  The Company filed for chapter 11 protection on Oct. 1,
2001 (Bankr. Del. Case No. 01-10582).  Lawrence J. Nyhan Esq.,
James F. Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin
Brown & Wood, and Laura Davis Jones Esq., at Pachulski, Stang,
Ziehl, Young, Jones & Weintraub, P.C., represent the Debtors in
their restructuring efforts.  When the Debtors filed for
protection from their creditors, they listed US$10.15 billion in
assets and US$8.86 billion in liabilities.  At Dec. 31, 2004,
Federal-Mogul's balance sheet showed a US$1.925 billion
stockholders' deficit.  At Nov. 30, 2005, Federal-Mogul's balance
sheet showed a US$1,450.4 billion stockholders' deficit, compared
to a US$1.926 billion deficit at Dec. 31, 2004.  Federal-Mogul
Corp.'s U.K. affiliate, Turner & Newall, is based at Dudley Hill,
Bradford.  (Federal-Mogul Bankruptcy News, Issue No. 105;
Bankruptcy Creditors' Service, Inc., 215/945-7000)


INTERSTATE BAKERIES: Incurs $20.8 Mil. Net Loss in February 2006
----------------------------------------------------------------

           Interstate Bakeries Corporation and Subsidiaries
            Unaudited Consolidated Monthly Operating Report
                  Four Weeks Ended February 4, 2006

REVENUE

Gross Income                                       $225,020,634
Less Cost of Goods Sold
   Ingredients, Packaging, & Outside Purchasing      56,902,158
   Direct & Indirect Labor                           43,213,194
   Overhead & Production Administration              13,703,090
                                                   ------------
      Total Cost of Goods Sold                      113,818,442
                                                   ------------
         Gross Profit                              $111,202,192
                                                   ------------

OPERATING EXPENSES

Owner-Draws/Salaries                                          -
Selling & Delivery Employee Salaries                $57,538,430
Advertising and Marketing                             4,130,328
Insurance (Property, Casualty, & Medical)            12,620,649
Payroll Taxes                                         4,628,951
Lease and Rent                                        3,730,507
Telephone and Utilities                               1,973,669
Corporate Expense (Including Salaries)                6,768,500
Other Expenses                                       31,265,186
                                                   ------------
    Total Operating Expenses                       $122,656,220
                                                   ------------
EBITDA                                             ($11,454,028)

Restructuring & Reorganization Charges                  142,250
Depreciation and Amortization                         5,721,442
Other Income                                             (1,904)
Gain/Loss Sale of Property                                    -
Interest Expense                                      3,960,768
                                                   ------------
Operating Income (Loss)                             (21,276,584)

Income Tax Expense (Benefit)                           (423,057)
                                                   ------------
Net Income (Loss)                                  ($20,853,527)
                                                   ============

CURRENT ASSETS
   Accounts Receivable at end of period            $149,487,595
   Increase (Dec.) in Accounts Receivable             2,587,805
   Inventory at end of period                        58,359,078
   Increase (Decrease) in Inventory for period          530,970
   Cash at end of period                             93,308,486
   Increase (Decrease) in Cash for period           (16,861,286)
   Restricted Cash                                   74,370,798
   Increase (Dec.) in Restricted Cash for period      5,183,929

LIABILITIES
   Increase (Decrease) in Liabilities
      Not Subject to Compromise                       8,394,478
   Increase (Decrease) in Liabilities
      Subject to Compromise                             498,923
   Taxes payable:
      Federal Payroll Taxes                          10,423,260
      State/Local Payroll Taxes                       6,880,476
      State Sales Taxes                                 719,302
      Real Estate and Personal Property Taxes        15,214,083
      Other                                           6,730,440
                                                   ------------
      Total Taxes Payable                           $39,967,561
                                                   ============

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


MUSICLAND HOLDING: Incurs $20.6 Million Net Loss in January 2006
----------------------------------------------------------------

                     Musicland Holding Corp.
                    Consolidated Balance Sheet
                      As of January 31, 2006

ASSETS
Current assets
   Cash                                              $5,149,000
   Inventories                                      236,931,000
   Other                                             24,013,000
Fixed assets                                         43,182,000
Other assets                                            191,000
                                                  -------------
   TOTAL ASSETS                                    $309,466,000
                                                  =============

LIABILITIES & SHAREHOLDERS DEFICIT
Current liabilities
   Accounts payable                                   7,997,000
   Other accrued liabilities                         34,015,000
   Gift Card liabilities                                540,000

DIP financing                                        41,236,000
Other LT liabilities                                 13,872,000
Liabilities subject to compromise                   370,119,000
Shareholders' deficit                              (158,314,000)
                                                  -------------
   TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT       $309,465,000
                                                  =============


                     Musicland Holding Corp.
                     Statement of Operations
               Period from January 13 to 31, 2006

Merchandise revenue                                 $27,911,000
Non-merchandise revenue                                 506,000
Cost of goods sold                                  (22,317,000)
                                                  -------------
   Gross profit                                       6,100,000
                                                  -------------
Store operating expenses
   Payroll                                            3,038,000
   Occupancy                                          6,047,000
   Others                                               934,000

Other operating expenses
   Net advertising expense                             (484,000)
   Logistics                                          1,740,000
   Field administration & others                        760,000

General & administrative expenses                     1,139,000
   EBITDA (Loss)                                     (7,074,000)

   Media Play wind down                             (11,795,000)
   Depreciation & amortization                         (725,000)
                                                  -------------
      Operating income (Loss)                       (19,594,000)
                                                  -------------

   Interest expense                                    (208,000)
   DIP financing fees                                  (750,000)
   Other non-operating charges                          (54,000)
   Income Tax                                            (2,000)
                                                  -------------
      Net Earnings (Loss)                          ($20,608,000)
                                                  =============


                     Musicland Holding Corp.
                     Statements of Cash Flow
               Period from January 13 to 31, 2006

Operating activities
   Net earnings (Loss)                             ($20,608,000)
   Depreciation                                         744,000
   Inventory                                         33,152,000
   Other current assets                             (16,262,000)
   Accounts payable                                (305,532,000)
   Other operating liabilities                      (50,374,000)
   Gift card liability                              (24,235,000)
   Liabilities subject to compromise
      Prepetition accounts payable                  309,593,000
      Accrued liabilities                            56,193,000
      Property and other taxes                        4,333,000
                                                  -------------
   Net Cash provided by (used in)
      operating activities                          (12,996,000)
                                                  -------------
Investing activities
   Change in other long term asset/liabilities         (507,000)
   Retirement of fixed assets                           791,000
                                                  -------------
   Net Cash provided by (used in)
      Investing activities                              284,000
                                                  -------------
Financing Activities
   Revolver borrowings                               10,741,000
                                                  -------------
Increase (Decrease) in Cash
   Cash at beginning of period                        7,119,000
                                                  -------------
   Cash at end of Period                             $5,149,000
                                                  =============

Headquartered in New York, New York, Musicland Holding Corp., is
a specialty retailer of music, movies and entertainment-related
products.  The Debtor and 14 of its affiliates filed for chapter
11 protection on Jan. 12, 2006 (Bankr. S.D.N.Y. Lead Case No.
06-10064).  James H.M. Sprayregen, Esq., at Kirkland & Ellis,
represents the Debtors in their restructuring efforts.   Mark T.
Power, Esq., at Hahn & Hessen LLP, represents the Official
Committee of Unsecured Creditors.  When the Debtors filed for
protection from their creditors, they estimated more than $100
million in assets and debts.  (Musicland Bankruptcy News, Issue
No. 8; Bankruptcy Creditors' Service, Inc., 215/945-7000)


MUSICLAND HOLDING: Incurs $57.3 Million Net Loss in February 2006
-----------------------------------------------------------------

                     Musicland Holding Corp.
                   Consolidated Balance Sheet
                     As of February 28, 2006

ASSETS
Current assets
   Cash                                             $14,721,000
   Inventories                                      149,512,000
   Other                                             30,350,000
Fixed assets                                         35,467,000
Other assets                                          4,085,000
                                                  -------------
   TOTAL ASSETS                                    $234,135,000
                                                  =============

LIABILITIES & SHAREHOLDERS' DEFICIT
Current liabilities
   Accounts payable                                   1,467,000
   Other accrued liabilities                         33,405,000
   Gift Card liabilities                                443,000
                                                  -------------
   Total                                             35,315,000

DIP financing                                        17,752,000
Other LT Liabilities                                 13,981,000
Liabilities subject to compromise                   382,799,000
Shareholders' deficit                              (215,712,000)
                                                  -------------
   TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT       $234,135,000
                                                  =============


                     Musicland Holding Corp.
                     Statement of Operations
               Period from February 1 to 28, 2006

Merchandise revenue                                 $29,463,000
Non-merchandise revenue                                 743,000
Cost of good sold                                   (23,372,000)
                                                  -------------
   Gross Profit                                       6,834,000
                                                  -------------
Store operating expenses
   Payroll                                            4,186,000
   Occupancy                                          2,590,000
   Other                                                965,000

Other operating expenses
   Net advertising expense                             (701,000)
   Logistics                                          1,933,000
   Field administration & others                        682,000

General & administrative                              1,824,000
   EBITDA (Loss)                                     (4,724,000)

   Media Play wind down                              (1,399,000)
   Chapter 11 & related charges
      Legal Fees                                      1,713,000
      Severance                                       2,260,000
   GOB expenses
      Proceeds from HILCO                           (44,705,000)
      Book value of assets                           96,755,000
   Depreciation & amortization                       (2,291,000)
                                                  -------------
      Operating income (Loss)                       (57,057,000)
                                                  -------------
   Interest expense                                    (136,000)
   DIP financing fees
   Other non-operating charges                          (88,000)
   Income tax                                          (118,000)
                                                  -------------
      Net earnings (Loss)                          ($57,399,000)
                                                  =============


                     Musicland Holding Corp.
                     Statements of Cash Flow
               Period from February 1 to 28, 2006

Operating activities
   Net earnings (Loss)                             ($57,398,000)
   Depreciation                                         706,000
   Inventory                                         87,419,000
   Other current assets                              (6,337,000)
   Accounts payable                                  (6,530,000)
   Other operating liabilities                         (610,000)
   Gift card liability                                  (97,000)
   Liabilities subject to compromise                 12,679,000
                                                  -------------
   Net cash provided by (used in)
      operating activities                           29,832,000
                                                  -------------
Investing activities
   Change in other long term asset/liabilities       (3,785,000)
   Retirement of fixed assets                         7,008,000
                                                  -------------
   Net cash provided by (used in)
      investing activities                            3,223,000
                                                  -------------
Financing activities
   Revolver borrowings                              (23,485,000)
                                                  -------------
Increase (decrease) in cash
   Cash at the beginning of Period                    5,149,000
                                                  -------------
   Cash at the end of Period                        $14,721,000
                                                  =============

Headquartered in New York, New York, Musicland Holding Corp., is
a specialty retailer of music, movies and entertainment-related
products.  The Debtor and 14 of its affiliates filed for chapter
11 protection on Jan. 12, 2006 (Bankr. S.D.N.Y. Lead Case No.
06-10064).  James H.M. Sprayregen, Esq., at Kirkland & Ellis,
represents the Debtors in their restructuring efforts.   Mark T.
Power, Esq., at Hahn & Hessen LLP, represents the Official
Committee of Unsecured Creditors.  When the Debtors filed for
protection from their creditors, they estimated more than $100
million in assets and debts.  (Musicland Bankruptcy News, Issue
No. 8; Bankruptcy Creditors' Service, Inc., 215/945-7000)


PERFORMANCE TRANSPORTATION: Logistics Files Schedules
-----------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.1    Cash on hand                                       6,184
B.13   Stock and interests in businesses
          100% Common stock
             Automotive Logistics Corp.                 unknown
             Performance Transportation Services, Inc.  unknown
             PLG Leasing                                unknown
B.16   Accounts Receivable                              193,356
B.22   Intellectual property
          Trademark licensed dated March 24, 2006,
          between Penske Logistics LLC and Performance
          Logistics Group, Inc.                         unknown
B.35   Other Personal Property
          Accrued interest receivable                     8,512
          Deferred debits                             2,459,551
          Intercompany receivables                   11,893,073
          Investment in subsidiary                    5,576,000

       TOTAL SCHEDULED ASSETS                       $20,136,676
                                                   ============

C.     Property Claimed as Exempt                not applicable

D.     Secured Claim
          Credit Suisse First Boston                    unknown
          De Lage Landen Financial Service              unknown
          Great America Leasing Corp.                   unknown
          Relational Funding Corp.                      unknown
          U.S. Bancorp                                  unknown
          Wells Fargo Bank, N.A.                        unknown

E.     Unsecured Priority Claims                             $0

F.     Unsecured Non-priority Claims
          Hadley Auto Transport                      16,222,330
          HFS Investments Inc.                          920,727
          Hidden Creek Industries                       701,182
          Performance Transportation Services        78,309,692
          Others                                         91,098

       TOTAL SCHEDULED LIABILITIES                  $96,245,029
                                                   ============

Headquartered in Wayne, Michigan, Performance Logistics Group
Inc., through subsidiary Performance Transportation Services Inc.,
is a motor carrier of automobiles and light trucks in North
America.  It was formed with the acquisition of Hadley Auto
Transport in 1999 and subsequent purchase of E. & L. Transport Co.
LLC in 2000.  It delivers almost 4 million vehicles annually to
dealership locations from rail terminals, port facilities and
assembly plants.

Headquartered in Wayne, Michigan, Performance Transportation
Services, Inc. -- http://www.pts-inc.biz/-- is the second largest    
transporter of new automobiles, sport-utility vehicles and light
trucks in North America.  The Company provides transit stability,
cargo damage elimination and proactive customer relations that are
second to none in the finished vehicle market segment.  The
company's chapter 11 case is administered jointly under Leaseway
Motorcar Transport Company.

Headquartered in Niagara Falls, New York, Leaseway Motorcar
Transport Company Debtor and 13 affiliates filed for chapter 11
protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Case No. 06-00107).
James A. Stempel, Esq., James W. Kapp, III, Esq., and Jocelyn A.
Hirsch, Esq., at Kirkland & Ellis, LLP, and Garry M. Graber, Esq.,
at Hodgson Russ LLP represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated assets between $10 million and $50
million and more than $100 million in debts.  (Performance
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Service, Inc.,
215/945-7000)

PERFORMANCE TRANSPORTATION: E&L Transport Files Schedules
---------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property                         
B.1    Cash on hand
          Petty cash funds                               76,158
B.2    Bank Accounts                                     30,891
B.3    Security Deposits
          Miscellaneous special deposits                 50,960
B.16   Accounts Receivable
          Accounts receivable - customers             5,696,172
          Accounts receivable - other                   120,952
          Allowance for doubtful accounts              (246,363)
B.21   Other Contingent & Unliquidated Claims            15,867
B.25   Vehicles
          Trucks, trailers and upgrades               3,571,990
          Accumulated depreciation                   (1,508,813)
B.28   Office Equipment
          Other equipment                            10,118,005
          Accumulated depreciation                   (3,652,287)
B.30   Inventory
          Materials and supplies                        530,174
B.35   Other Personal Property
          Deferred debits                                 4,918
          Intercompany receivables                   27,970,626
          Prepaid items                               1,553,178

       TOTAL SCHEDULED ASSETS                       $44,332,428
                                                   ============

C.     Property Claimed as Exempt                not applicable

D.     Secured Claim
          BCL Capital                                   unknown
          Credit Suisse First Boston                    unknown
          EMC Corporation                               unknown
          Ervin Leasing Company                         unknown
          Fleet National Bank                           unknown
          Florida Leasco Company LLC                    unknown
          IBM Credit Corporation                        unknown
          New Court Communications Finance Corp.        unknown
          Safeco Credit Company Inc.                    unknown
          Wells Fargo Bank, N.A.                        unknown

E.     Unsecured Priority Claims                             $0

F.     Unsecured Non-priority Claims
          Florida Leasco Co. LLC                      1,791,141
          Leaseway Motorcar Transport Co.             1,792,139
          Performance Logistics GRP                  11,868,073
          PLG Leasing Corp.                           2,516,875
          Others                                      2,299,105

       TOTAL SCHEDULED LIABILITIES                  $20,267,333
                                                   ============

E&L Transport Co. provides haulaway at seven assembly plants,
three rail ramps and one border transfer site in the states of
Illinois, Michigan, Ohio and New York.  It serves 13 customer
operations.

Headquartered in Wayne, Michigan, Performance Transportation
Services, Inc. -- http://www.pts-inc.biz/-- is the second largest    
transporter of new automobiles, sport-utility vehicles and light
trucks in North America.  The Company provides transit stability,
cargo damage elimination and proactive customer relations that are
second to none in the finished vehicle market segment.  The
company's chapter 11 case is administered jointly under Leaseway
Motorcar Transport Company.

Headquartered in Niagara Falls, New York, Leaseway Motorcar
Transport Company Debtor and 13 affiliates filed for chapter 11
protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Case No. 06-00107).
James A. Stempel, Esq., James W. Kapp, III, Esq., and Jocelyn A.
Hirsch, Esq., at Kirkland & Ellis, LLP, and Garry M. Graber, Esq.,
at Hodgson Russ LLP represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated assets between $10 million and $50
million and more than $100 million in debts.  (Performance
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


PERFORMANCE TRANSPORTATION: Vehicle Logistics Files Schedules
-------------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.35   Other Personal Property
          Intercompany receivables                      507,345

       TOTAL SCHEDULED ASSETS                          $507,345
                                                      =========

C.     Property Claimed as Exempt                Not applicable

D.     Secured Claim
          Credit Suisse First Boston                    unknown
          Wells Fargo Bank, N.A.                        unknown

E.     Unsecured Priority Claims                             $0

F.     Unsecured Non-priority Claims                          0

       TOTAL SCHEDULED LIABILITIES                           $0
                                                           ====

Headquartered in Wayne, Michigan, Performance Transportation
Services, Inc. -- http://www.pts-inc.biz/-- is the second largest    
transporter of new automobiles, sport-utility vehicles and light
trucks in North America.  The Company provides transit stability,
cargo damage elimination and proactive customer relations that are
second to none in the finished vehicle market segment.  The
company's chapter 11 case is administered jointly under Leaseway
Motorcar Transport Company.

Headquartered in Niagara Falls, New York, Leaseway Motorcar
Transport Company Debtor and 13 affiliates filed for chapter 11
protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Case No. 06-00107).
James A. Stempel, Esq., James W. Kapp, III, Esq., and Jocelyn A.
Hirsch, Esq., at Kirkland & Ellis, LLP, and Garry M. Graber, Esq.,
at Hodgson Russ LLP represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated assets between $10 million and $50
million and more than $100 million in debts.  (Performance
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


PERFORMANCE TRANSPORTATION: PLG Leasing Files Schedules
-------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.13   Stock and interests in businesses
          100% Common stock in:
             Florida Leasco Co., LLC                    unknown
             HFS Investments, Inc.                      unknown
B.25   Vehicles
          Trucks and trailers                        20,553,519
          Accumulated depreciation                   (5,091,804)
B.35   Other Personal Property
          Intercompany receivables                    3,857,348

       TOTAL SCHEDULED ASSETS                       $19,319,063
                                                   ============

C.     Property Claimed as Exempt                Not applicable

D.     Secured Claim
          Credit Suisse First Boston                    unknown
          Wells Fargo Bank, N.A.                        unknown

E.     Unsecured Priority Claims                             $0

F.     Unsecured Non-priority Claims
          Florida Leasco Co. LLC                     16,822,496
          HGS Investments Inc.                        1,157,393
          Leaseway Motorcar Transport Co.               104,015
          Performance Transportation Services         1,227,588

       TOTAL SCHEDULED LIABILITIES                  $19,311,492
                                                   ============

Headquartered in Wayne, Michigan, Performance Transportation
Services, Inc. -- http://www.pts-inc.biz/-- is the second largest    
transporter of new automobiles, sport-utility vehicles and light
trucks in North America.  The Company provides transit stability,
cargo damage elimination and proactive customer relations that are
second to none in the finished vehicle market segment.  The
company's chapter 11 case is administered jointly under Leaseway
Motorcar Transport Company.

Headquartered in Niagara Falls, New York, Leaseway Motorcar
Transport Company Debtor and 13 affiliates filed for chapter 11
protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Case No. 06-00107).
James A. Stempel, Esq., James W. Kapp, III, Esq., and Jocelyn A.
Hirsch, Esq., at Kirkland & Ellis, LLP, and Garry M. Graber, Esq.,
at Hodgson Russ LLP represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated assets between $10 million and $50
million and more than $100 million in debts.  (Performance
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


PERFORMANCE TRANSPORTATION: LAC Holdings Files Schedules
--------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.35   Other Personal Property
          Investment in subsidiary                  $49,213,765

       TOTAL SCHEDULED ASSETS                       $49,213,765
                                                   ============

C.     Property Claimed as Exempt                Not applicable

D.     Secured Claim
          Credit Suisse First Boston                    Unknown
          Wells Fargo Bank N.A.                         Unknown

E.     Unsecured Priority Claims                              0

F.     Unsecured Non-priority Claims
          Performance Transportation Svcs           $27,475,732

       TOTAL SCHEDULED LIABILITIES                  $27,475,732
                                                   ============

With terminals in the East and Midwest, Leaseway Auto Carriers
serves seven assembly plants, three rail ramps, one border
crossing location and six import operations.  Additionally, its
three terminal sites in the Canadian province of Ontario handle
five assembly plants.  Lastly, its import operation handles
vehicle deliveries in the U.S. territory of Puerto Rico.

Headquartered in Wayne, Michigan, Performance Transportation
Services, Inc. -- http://www.pts-inc.biz/-- is the second largest    
transporter of new automobiles, sport-utility vehicles and light
trucks in North America.  The Company provides transit stability,
cargo damage elimination and proactive customer relations that are
second to none in the finished vehicle market segment.  The
company's chapter 11 case is administered jointly under Leaseway
Motorcar Transport Company.

Headquartered in Niagara Falls, New York, Leaseway Motorcar
Transport Company Debtor and 13 affiliates filed for chapter 11
protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Case No. 06-00107).
James A. Stempel, Esq., James W. Kapp, III, Esq., and Jocelyn A.
Hirsch, Esq., at Kirkland & Ellis, LLP, and Garry M. Graber, Esq.,
at Hodgson Russ LLP represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated assets between $10 million and $50
million and more than $100 million in debts.  (Performance
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


PERFORMANCE TRANSPORTATION: Automotive Logistics Files Schedules
----------------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.13   Stock and interests in businesses                Unknown
          100% Common Stock in:
             Hadley Computer Services
             Logistics Computer Services, Inc.
             Vehicle Logistics Associates, LLC
B.35   Other Personal Property
          Intercompany receivables                       81,309

       TOTAL SCHEDULED ASSETS                           $81,309
                                                       ========

C.     Property Claimed as Exempt                Not applicable

D.     Secured Claim
          Credit Suisse First Boston                    Unknown
          Wells Fargo Bank N.A.                         Unknown

E.     Unsecured Priority Claims                             $0

F.     Unsecured Non-priority Claims
          Hadley Auto Transport                          58,613

       TOTAL SCHEDULED LIABILITIES                      $58,613
                                                       ========

Automotive Logistics Corp., is the parent of and holds 100% of the
stock of Logistics Computer Services, Inc., and 100% of the units
of Vehicle Logistics Associates, L.L.C.  In turn, Logistics
Computer Services, Inc., holds 100% of the stock of Hadley
Computer Services.

Headquartered in Wayne, Michigan, Performance Transportation
Services, Inc. -- http://www.pts-inc.biz/-- is the second largest    
transporter of new automobiles, sport-utility vehicles and light
trucks in North America.  The Company provides transit stability,
cargo damage elimination and proactive customer relations that are
second to none in the finished vehicle market segment.  The
company's chapter 11 case is administered jointly under Leaseway
Motorcar Transport Company.

Headquartered in Niagara Falls, New York, Leaseway Motorcar
Transport Company Debtor and 13 affiliates filed for chapter 11
protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Case No. 06-00107).
James A. Stempel, Esq., James W. Kapp, III, Esq., and Jocelyn A.
Hirsch, Esq., at Kirkland & Ellis, LLP, and Garry M. Graber, Esq.,
at Hodgson Russ LLP represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated assets between $10 million and $50
million and more than $100 million in debts.  (Performance
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


PERFORMANCE TRANSPORTATION: Hadley Auto Transport Files Schedules
-----------------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.1    Cash on hand                                      34,650
B.2    Bank Accounts                                    577,298
B.3    Security Deposits                                 12,600
B.9    Interests in insurance policies                  169,974
B.16   Accounts Receivable
          Customers                                   3,807,182
          Others                                      1,131,115
          Allowance for doubtful accounts               (49,002)
B.21   Other Contingent & Unliquidated Claims            37,151
B.25   Vehicles
          Trucks, Trailers and Upgrades               3,031,473
          Accumulated depreciation                   (1,777,923)
B.28   Office Equipment
          Other equipment                             1,704,250
           Accumulated depreciation                  (1,436,122)
B.35   Other Personal Property
          Deferred debits                                 1,764
          Intercompany receivables                   60,230,507
          Prepaid items                               1,604,656

       TOTAL SCHEDULED ASSETS                       $69,656,969
                                                   ============

C.     Property Claimed as Exempt                Not applicable

D.     Secured Claim
          BCL CAPITAL                                   unknown
          Credit Suisse First Boston                    unknown
          De Lage Landen Financial Service              unknown
          Deere & Company                               unknown
          Ervin Leasing Company                         unknown
          Florida Leasco Company LLC                    unknown
          Honda Leasco Company, L.L.C.                  unknown
          Northwest Financial Leasing, Inc.             unknown
          Pitney Bowes                                  unknown
          US Bank National Association                  unknown
          Wells Fargo Bank N.A.                         unknown

E.     Unsecured Priority Claims                              0

F.     Unsecured Non-priority Claims
          E & L Transport Company LLC                 1,560,781
          Florida Leasco                                476,088
          Florida Leasco                              1,311,747
          Hadley Auto Transport                         426,008
          HFS Investments                             2,934,069
          HFS Investments                               695,192
          Performance Transportation Svc                421,422
          PLG Leasing                                 1,340,780
          Vehicle Logistics                             500,000
          Consolidated Waste Ind.                       205,288
          Others                                      1,829,967

       TOTAL SCHEDULED LIABILITIES                  $11,701,342
                                                   ============

Hadley Auto Transport serves 17 seventeen customers at 10 rail
ramps, seven customers at three ports and one through a border
crossing point throughout the West and Southwest.

Headquartered in Wayne, Michigan, Performance Transportation
Services, Inc. -- http://www.pts-inc.biz/-- is the second largest    
transporter of new automobiles, sport-utility vehicles and light
trucks in North America.  The Company provides transit stability,
cargo damage elimination and proactive customer relations that are
second to none in the finished vehicle market segment.  The
company's chapter 11 case is administered jointly under Leaseway
Motorcar Transport Company.

Headquartered in Niagara Falls, New York, Leaseway Motorcar
Transport Company Debtor and 13 affiliates filed for chapter 11
protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Case No. 06-00107).
James A. Stempel, Esq., James W. Kapp, III, Esq., and Jocelyn A.
Hirsch, Esq., at Kirkland & Ellis, LLP, and Garry M. Graber, Esq.,
at Hodgson Russ LLP represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated assets between $10 million and $50
million and more than $100 million in debts.  (Performance
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


PERFORMANCE TRANSPORTATION: Hadley Computer Files Schedules
-----------------------------------------------------------

A.     Real Property                                         $0

B.     Personal Property
B.35   Other Personal Property
          Intercompany receivables                      426,007

       TOTAL SCHEDULED ASSETS                          $426,007
                                                      =========

C.     Property Claimed as Exempt                Not applicable

D.     Secured Claim
          Credit Suisse First Boston                    unknown
          Unisys                                        unknown
          Wells Fargo Bank, N.A.                        unknown

E.     Unsecured Priority Claims                              0

F.     Unsecured Non-priority Claims                          0

       TOTAL SCHEDULED LIABILITIES                           $0
                                                          =====

Headquartered in Wayne, Michigan, Performance Transportation
Services, Inc. -- http://www.pts-inc.biz/-- is the second largest    
transporter of new automobiles, sport-utility vehicles and light
trucks in North America.  The Company provides transit stability,
cargo damage elimination and proactive customer relations that are
second to none in the finished vehicle market segment.  The
company's chapter 11 case is administered jointly under Leaseway
Motorcar Transport Company.

Headquartered in Niagara Falls, New York, Leaseway Motorcar
Transport Company Debtor and 13 affiliates filed for chapter 11
protection on Jan. 25, 2006 (Bankr. W.D.N.Y. Case No. 06-00107).
James A. Stempel, Esq., James W. Kapp, III, Esq., and Jocelyn A.
Hirsch, Esq., at Kirkland & Ellis, LLP, and Garry M. Graber, Esq.,
at Hodgson Russ LLP represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated assets between $10 million and $50
million and more than $100 million in debts.  (Performance
Bankruptcy News, Issue No. 6; 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
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

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

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

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

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

                             *********

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

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marie Therese V. Profetana, Shimero Jainga, Emi Rose S.R.
Parcon, Rizande B. Delos Santos, Cherry A. Soriano-Baaclo, Terence
Patrick F. Casquejo, Christian Q. Salta, Jason A. Nieva, Lucilo
Junior M. Pinili, Tara Marie A. Martin and Peter A. Chapman,
Editors.

Copyright 2006.  All rights reserved.  ISSN: 1520-9474.

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

The TCR subscription rate is $725 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same firm
for the term of the initial subscription or balance thereof are
$25 each.  For subscription information, contact Christopher Beard
at 240/629-3300.


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