TCR_Public/060819.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Saturday, August 19, 2006, Vol. 10, No. 197

                             Headlines

ACCEPTANCE INSURANCE: Posts $130,532 Net Loss in July 2006
ADELPHIA COMMUNICATIONS: Posts $11.2 Million Net Loss in June 2006
ALLIED HOLDINGS: Earns $4.16 Million in June 2006
ASARCO LLC: Earns $89 Million in June 2006
CALPINE CORPORATION: Posts $274 Million Net Loss in April 2006

CALPINE CORPORATION: Posts $207 Million Net Loss in May 2006
DELTA AIR: Posts $2.162 Billion Net Loss in June 2006
PERFORMANCE TRANSPORT: Files June 2006 Monthly Operating Report
REFCO INC: Refco LLC Files June 2006 Monthly Operating Report
SILICON GRAPHICS: Posts $11 Mil. Net Loss in Period Ended July 28

WERNER LADDER: Files Schedules of Assets and Liabilities
WERNER LADDER: Holding Co. (DE) Files Schedules of Assets & Debts
WERNER LADDER: Holding Co. (PA) Files Schedules of Assets & Debts
WERNER LADDER: WIP Technology Files Schedules of Assets & Debts

                             *********

ACCEPTANCE INSURANCE: Posts $130,532 Net Loss in July 2006
----------------------------------------------------------
On August 14, 2006, Acceptance Insurance Companies Inc. filed its
monthly operating report for July 2006 with the United States
Bankruptcy Court for the District of Nebraska.

The Debtor reports a $130,532 net loss on $9,758 of total revenue
for July 2006.

At July 31, 2006, Acceptance Insurance Companies Inc.'s balance
sheet showed:

       Total Current Assets                   $2,279,221
       Total Assets                          $32,610,204
       Total Liabilities                    $138,204,933
       Total Shareholders' Deficit          $105,594,729

A full-text copy of Acceptance Insurance Companies Inc.'s July
2006 Monthly Operating Report is available at no charge at
http://ResearchArchives.com/t/s?fef

Headquartered in Council Bluffs, Iowa, Acceptance Insurance
Companies Inc. -- http://www.aicins.com/--owns, either directly
or indirectly, several companies, one of which is an insurance
company that accounts for substantially all of the business
operations and assets of the corporate groups.  The Company filed
for chapter 11 protection on Jan. 7, 2005 (Bankr. D. Nebr. Case
No. 05-80059).  The Debtor's affiliates -- Acceptance Insurance
Services, Inc., and American Agrisurance, Inc. -- filed separate
chapter 7 petitions (Bankr. D. Nebr. Case Nos. 05-80056 & 05-
80058) on Jan. 7, 2005.  John J. Jolley, Esq., at Kutak Rock LLP,
represents the Debtor in its restructuring efforts.  When the
Debtor filed for protection from its creditors, it listed
$33,069,446 in total assets and $137,120,541 in total debts.


ADELPHIA COMMUNICATIONS: Posts $11.2 Million Net Loss in June 2006
------------------------------------------------------------------

             Adelphia Communications Corporation, et al.
           Unaudited Condensed Consolidated Balance Sheet
                          At June 30, 2006
                       (Dollars in thousands)

                               ASSETS

Cash and cash equivalents                              $734,447
Restricted cash                                           3,893
Accounts receivable, less allowance
    for doubtful accounts                               108,094
Receivable for securities                                 7,167
Other current assets                                     89,222
                                                    -----------
Total current assets                                   $942,823

Noncurrent assets:
Restricted cash                                          $2,751
Property and equipment, net                           4,223,605
Intangible assets, net                                7,479,647
Other non-current assets, net                           126,741
                                                    -----------
Total assets                                        $12,775,567
                                                    ===========
                LIABILITIES AND STOCKHOLDERS' DEFICIT

Accounts payable                                       $115,871
Subscriber advance payments and deposits                 34,020
Accrued liabilities                                     543,672
Deferred revenue                                         19,115
Parent and subsidiary debt                              959,427
                                                    -----------
Total current liabilities                            $1,672,105

Non-current liabilities:
    Other liabilities                                   $32,119
    Deferred revenue                                     56,149
    Deferred income taxes                               904,135
                                                    -----------
Total non-current liabilities                           992,403

Liabilities subject to compromise                    18,423,946
                                                    -----------
Total liabilities                                   $21,088,454

Commitments and contingencies

Minority's interest                                      60,201

Stockholders' deficit:
    Series preferred stock                                  397
    Class A Common Stock                                  2,297
    Convertible Class B Common Stock                        251
    Additional paid-in capital                       12,024,695
    Accumulated other comprehensive loss, net            (2,851)
    Accumulated deficit                             (20,369,940)
    Treasury stock                                      (27,937)
                                                    -----------
Total stockholders' deficit                          (8,373,088)
                                                    -----------
Total liabilities and stockholders' deficit         $12,775,567
                                                    ===========


             Adelphia Communications Corporation, et al.
      Unaudited Condensed Consolidated Statement of Operations
                  Three Months Ended June 30, 2006
                       (Dollars in thousands)

Revenue                                              $1,198,279

Costs and expenses:
    Direct operating and programming                    704,560
    Selling, general and administrative                  90,164
    Investigation, re-audit and
       sale transaction costs                             9,626
    Depreciation                                        191,780
    Amortization                                         33,231
    Provision for uncollectible
       amounts due from the Rigas Family
       and Rigas Family Entities                              -
    Loss (gain) on disposition of
       long-lived assets                                   (394)
                                                    -----------
Total costs and expenses                              1,028,967
                                                    -----------
Operating income                                        169,312
                                                    -----------

Other income (expense), net:
    Interest expense, net                              (219,642)
    Other income (expense), net                         (34,436)
                                                    -----------
Total other income (expense), net                      (254,078)
                                                    -----------
Income (loss) before reorganization
    income (expenses), income taxes,
    share of income (losses) of equity
    affiliates and minority's interest                  (84,766)

Reorganization income (expenses), net                    84,623
                                                    -----------
Income (loss) before income taxes,
    share of income (losses) of equity
    affiliates and minority's interest                     (143)
Income tax expense                                      (21,418)
Share of income (losses) of equity
    affiliates, net                                          92
Minority's interest in loss of
    subsidiary                                           10,173
                                                    -----------
Net income (loss)                                      ($11,296)
                                                    ===========



             Adelphia Communications Corporation, et al.
      Unaudited Condensed Consolidated Statement of Cash Flows
                 Six Months Ended June 30, 2006
                       (Dollars in thousands)

Cash flows from operating activities:
    Net income (loss)                                 ($182,912)
    Adjustments to reconcile net income (loss)
    to net cash provided by operating activities:
       Depreciation                                     379,907
       Amortization                                      66,531
       Provision for uncollectible amounts due from
          the Rigas Family and Other Rigas Entities           0
       Gain on disposition of long-lived assets          (1,358)
       Settlement with the Rigas Family and Rigas
       Family Entities, net                                   0
       Impairment of receivable for securities            2,862
       Amortization/write-off of deferred
          financing costs                                 1,520
       Provision for settlements                         44,915
       Other noncash charges, net                         1,424
       Reorganization (income) expenses due to
          bankruptcy, net                               (62,639)
       Deferred income tax expense                       70,600
       Share of losses of equity affiliates, net            818
       Minority's interest in loss of subsidiary        (11,106)
       Change in operating assets and liabilities         9,205
                                                    -----------
Net cash provided by operating activities
    before payment of reorganization expenses           319,767

Reorganization expenses paid during
    the period                                          (58,680)
                                                    -----------
Net cash provided by operating activities               261,087
                                                    -----------
Investing activities:
    Capital expenditures for property &
       equipment                                       (284,621)
    Proceeds from the sale of long-lived assets
       and investments                                    1,586
    Acquisition of minority interests                         0
    Change in restricted cash                           281,532
    Other                                                (4,605)
                                                    -----------
Net cash used in investing activities                    (6,108)
                                                    -----------
Financing activities:
    Proceeds from debt                                1,023,000
    Repayments of debt                                 (932,471)
    Payments of deferred financing costs                   (900)
                                                    -----------
Net cash provided by financing activities                89,629
                                                    -----------
Increase (decrease) in cash & cash equivalents          344,608
                                                    -----------
Cash & cash equivalents at beginning of period          389,839
                                                    -----------
Cash & cash equivalents at end of period               $734,447
                                                    ===========

A full-text copy of Adelphia Communications Corporation's
quarterly report for the period ended June 30, 2006, is available
for free at http://ResearchArchives.com/t/s?fcd

Based in Coudersport, Pa., Adelphia Communications Corporation
(OTC: ADELQ) -- http://www.adelphia.com/ -- 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.  PricewaterhouseCoopers
serves as the Debtors' financial advisor.  Kasowitz, Benson,
Torres & Friedman, LLP, and Klee, Tuchin, Bogdanoff & Stern LLP
represent the Official Committee of Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas Manged Entities, are
entities that were previously held or controlled by members of the
Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision, LLC.  The RME Debtors filed for chapter 11 protection
on March 31, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10622 through
06-10642).  Their cases are jointly administered under Adelphia
Communications and its debtor-affiliates chapter 11 cases.  
(Adelphia Bankruptcy News, Issue Nos. 145; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


ALLIED HOLDINGS: Earns $4.16 Million in June 2006
-------------------------------------------------

          Allied Holdings, Inc., and its Debtor Subsidiaries
                 Unaudited Consolidated Balance Sheet
                         As of June 30, 2006
                             (In Thousands)

                                   Assets

Current Assets:
       Cash and cash equivalents                          $1,119
       Receivables, net of allowances                     52,510
       Related party receivables                          16,282
       Inventories                                         5,150
       Deferred income taxes                                   -
       Prepayments and other current assets               33,398
                                                       ---------
          Total current assets                           108,459

Property and equipment, net                             119,158
Goodwill, net                                             3,545
Deferred income taxes                                        63
Other noncurrent assets                                  21,841
Investment in related parties                            26,402
                                                       ---------
TOTAL ASSETS                                           $279,468
                                                       =========

                   Liabilities and Stockholders' Deficit

Current liabilities not subject to compromise
        Borrowings under revolving credit facility          $464
        DIP facility                                     142,401
        Accounts and notes payable                        38,627
        Deferred income taxes                                 80
        Accrued liabilities                               57,614
                                                       ---------
          Total current liabilities                      239,186

Long-term liabilities not subject to compromise
        Postretirement benefits                            4,357
        Deferred income taxes                                  -
        Other long term liabilities                       21,946
                                                       ---------
          Total long term liabilities                     26,303

Liabilities subject to compromise                       199,479
Stockholders deficit                                   (185,500)
                                                       ---------
       Total liabilities & stockholders deficit         $279,468
                                                       =========

            Allied Holdings, Inc., and its Debtor Subsidiaries
               Unaudited Consolidated Statement of Operations
                   For the Month Ended June 30, 2006
                               (In Thousands)

Revenues                                                $83,113

Operating Expenses
       Salaries, Wages & Fringe benefits                  37,626
       Operating supplies & expenses                      16,207
       Purchased transportation                           10,593
       Insurance & claims                                  3,374
       Operating tax & licenses                            2,421
       Depreciation & amortization                         2,621
       Rents                                                 552
       Communications & utilities                            472
       Other operating expenses                              780
       Gain on disposal of operating assets, net            (134)
                                                       ---------
          Total Operating Expenses                        74,512
                                                       ---------
          Operating Income (Loss)                          8,601

Other Income (Expense)
       Interest expense                                   (1,903)
       Investment income                                       5
       Foreign exchange gains, net                          (734)
                                                       ---------
                                                          (2,632)
                                                       ---------
Income before reorganization items and income taxes       5,969
Reorganization items                                     (1,788)
                                                       ---------
Income (Loss) before income taxes                         4,181
Income tax expense                                          (20)
                                                       ---------
NET INCOME (LOSS)                                        $4,161
                                                       =========

The Debtors disclose cash disbursements totaling $5,228,724
during June 2006.

Headquartered in Decatur, Georgia, Allied Holdings, Inc. --
http://www.alliedholdings.com/-- and its affiliates provide    
short-haul services for original equipment manufacturers and
provide logistical services.  The Company and 22 of its affiliates
filed for chapter 11 protection on July 31, 2005 (Bankr. N.D. Ga.
Case Nos. 05-12515 through 05-12537).  Jeffrey W. Kelley, Esq., at
Troutman Sanders, LLP, represents the Debtors in their
restructuring efforts.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor.  Anthony J. Smits,
Esq., at Bingham McCutchen LLP, provides the Official Committee of
Unsecured Creditors with legal advice and Russell A. Belinsky at
Chanin Capital Partners, LLC, provides financial advisory services
to the Committee.  When the Debtors filed for protection from
their creditors, they estimated more than $100 million in assets
and debts.  (Allied Holdings Bankruptcy News, Issue No. 27;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)   


ASARCO LLC: Earns $89 Million in June 2006
------------------------------------------

                       ASARCO LLC, et al.
                          Balance Sheet
                       As of June 30, 2006

ASSETS
     Current Assets:
     Cash                                         $210,725,000
     Accounts receivable, net                      169,782,000
     Inventory                                     232,696,000
     Prepaid expenses                               26,258,000
     Deferred income tax assets                              0
                                                --------------
Total Current Assets                               639,461,000

Net property, plant and equipment                  410,838,000
Other Assets
     Investments in subs                           110,182,000
     Prepaid pension & retirement plan              76,278,000
     Non-current deferred tax asset                 40,952,000
     Other                                         102,682,000
                                                --------------
Total assets                                    $1,380,393,000
                                                ==============

LIABILITIES
Postpetition liabilities:
     Accounts payable                               58,849,000
     Accrued liabilities                            16,037,000
     Debtor-in-possession financing                          0
                                                --------------
Total postpetition liabilities                      74,886,000

Prepetition liabilities:
     Not subject to compromise - credit                908,000
     Not subject to compromise - other             126,803,000
     Subject to compromise                         905,228,000
                                                --------------
Total prepetition liabilities                    1,032,939,000
                                                --------------
Total liabilities                               $1,107,825,000
                                                ==============

OWNERS' EQUITY (DEFICIT)
Common stock                                       508,325,000
Additional paid-in capital                         104,578,000
Other comprehensive income                        (138,035,000)
Retained earnings: filing date                    (536,691,000)
                                                --------------
Total prepetition owners' equity                   (61,823,000)
(61,824,000)
Retained earnings: post-filing date                334,392,000
                                                --------------
Total owners' equity (net worth)                   272,569,000

Total liabilities and owners' equity            $1,380,394,000
                                                ==============


                       ASARCO LLC, et al.
              Consolidated Statement of Operations
                   Month Ending June 30, 2006

Sales                                             $132,154,000
Cost of products and services                       85,801,000
                                                --------------
Gross profit                                        46,353,000

Operating expenses:
Selling and general & admin expenses                11,035,000
Depreciation & amortization                          2,008,000
Provision accretion expense of asset
retirement obligation                                 143,000
                                                --------------
Operating income                                    33,167,000

Interest expense                                        47,000
Interest income                                     (1,104,000)
Reorganization expenses                              2,011,000
Other miscellaneous (income) expenses              (60,216,000)
                                                --------------
Income (loss) before taxes                          92,429,000
Income taxes                                         3,349,000
                                                --------------
Net income                                         $89,080,000
                                                ==============

                       ASARCO LLC, et al.
           Consolidated Cash Receipts & Disbursements
                   Month Ending June 30, 2006

Receipts                                          $200,920,000
Disbursements:
Inventory material                                  26,160,000
Operating disbursements                             47,883,000
Capital expenditures                                 7,523,000
                                                --------------
Total disbursements                                 81,566,000

Operating cash flow                                119,354,000
Reorganization disbursements                         1,664,000
                                                --------------
Net cash flow                                      117,690,000
Net payments to secured Lenders                              0
                                                --------------
Net change in cash                                 117,690,000
Beginning cash balance                              93,035,000
                                                --------------
Ending cash balances                              $210,725,000
                                                ==============

Headquartered in Tucson, Arizona, ASARCO LLC --
http://www.asarco.com/-- is an integrated copper mining,
smelting and refining company.  Grupo Mexico S.A. de C.V. is
ASARCO's ultimate parent.  The Company filed for chapter 11
protection on Aug. 9, 2005 (Bankr. S.D. Tex. Case No. 05-21207).
James R. Prince, Esq., Jack L. Kinzie, Esq., and Eric A.
Soderlund, Esq., at Baker Botts L.L.P., and Nathaniel Peter
Holzer, Esq., Shelby A. Jordan, Esq., and Harlin C. Womble, Esq.,
at Jordan, Hyden, Womble & Culbreth, P.C., represent the Debtor
in its restructuring efforts.  Lehman Brothers Inc. provides the
ASARCO with financial advisory services and investment banking
services.  Paul M. Singer, Esq., James C. McCarroll, Esq., and
Derek J. Baker, Esq., at Reed Smith LLP give legal advice to
the Official Committee of Unsecured Creditors and David J.
Beckman at FTI Consulting, Inc., gives financial advisory
services to the Committee.  When the Debtor filed for protection
from its creditors, it listed $600 million in total assets and
$1 billion in total debts.

The Debtor has five affiliates that filed for chapter 11
protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos. 05-20521
through 05-20525).  They are Lac d'Amiante Du Quebec Ltee, CAPCO
Pipe Company, Inc., Cement Asbestos Products Company, Lake
Asbestos of Quebec, Ltd., and LAQ Canada, Ltd.  Details about
their asbestos-driven chapter 11 filings have appeared in the
Troubled Company Reporter since Apr. 18, 2005.

Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle,
Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No.
05-21346) also filed for chapter 11 protection, and ASARCO has
asked that the three subsidiary cases be jointly administered
with its chapter 11 case.  On Oct. 24, 2005, Encycle/Texas' case
was converted to a Chapter 7 liquidation proceeding. The Court
appointed Michael Boudloche as Encycle/Texas, Inc.'s Chapter 7
Trustee.  Michael B. Schmidt, Esq., and John Vardeman, Esq., at
Law Offices of Michael B. Schmidt represent the Chapter 7
Trustee. (ASARCO Bankruptcy News, Issue No. 27; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or  
215/945-7000)


CALPINE CORPORATION: Posts $274 Million Net Loss in April 2006
--------------------------------------------------------------

                       Calpine Corporation
              Condensed Consolidating Balance Sheet
                      As of April 30, 2006

                             ASSETS

Current assets:
   Cash & cash equivalents                       $1,222,784,000
   Accounts receivable, net                         880,159,000
   Margin deposits & other prepaid expense          337,107,000
   Inventories                                      159,214,000
   Restricted cash                                  762,475,000
   Current derivative assets                        295,818,000
   Current assets held for sale                      39,542,000
   Other current assets                              65,752,000
                                                ---------------
Total current assets                              3,762,851,000

   Restricted cash, net of current portion          196,309,000
   Notes receivable, net of current portion         160,100,000
   Project development costs                         24,247,000
   Investments                                       52,021,000
   Deferred financing costs                         194,280,000
   Prepaid lease, net of current portion            352,917,000
   Property, plant & equipment, net              14,437,693,000
   Goodwill                                          45,160,000
   Other intangible assets, net                      52,874,000
   Long-term derivative assets                      615,603,000
   Other assets                                     608,969,000
                                                ---------------
Total assets                                    $20,503,024,000
                                                ===============

               LIABILITIES & STOCKHOLDERS' DEFICIT

Current liabilities:
   Accounts payable                                $492,630,000
   Accrued payroll and related expense               43,463,000
   Accrued interest payable                         145,042,000
   Income taxes payable                              99,073,000
   Notes payable & other borrowings                 187,135,000
   Preferred interests                                8,877,000
   Capital lease obligations                        284,932,000
   CCFC financing                                   783,125,000
   CalGen financing                               2,508,997,000
   Construction/project financing                 2,194,220,000
   Senior notes and term loans                      641,819,000
   DIP Facility                                       3,500,000
   Current derivative liabilities                   443,472,000
   Other current liabilities                        304,080,000
                                                ---------------
Total current liabilities                         8,140,365,000

   Notes payable and other borrowings               468,558,000
   Preferred interests                              579,519,000
   Capital lease obligations                          2,908,000
   Construction/project financing                   189,748,000
   DIP Facility                                     995,625,000
   Deferred income taxes                            375,161,000
   Deferred revenue                                 137,964,000
   Long-term derivative liabilities                 799,053,000
   Other liabilities                                138,267,000
                                                ---------------
Total liabilities not subject to compromise      11,827,168,000
Liabilities subject to compromise                14,738,734,000

Minority interests                                  273,934,000

Stockholders' equity (deficit):
   Common stock                                         569,000
   Additional paid-in capital                     3,267,413,000
   Additional paid-in capital, loaned shares        258,100,000
   Additional paid-in capital, returnable shares   (258,100,000)
   Accumulated deficit                           (9,476,826,000)
   Accumulated other comprehensive loss            (127,968,000)
                                                ---------------
Total stockholders' deficit                      (6,336,812,000)
                                                ---------------
Total liabilities & stockholders' deficit       $20,503,024,000
                                                ===============

                       Calpine Corporation
         Condensed Consolidating Statement of Operations
                For period ending April 30, 2006

Revenue:
   Electricity and steam revenue                   $349,455,000
   Transmission sales revenue                            33,000
   Sales of purchased power & gas
      for hedging and optimization                  125,007,000
   Mark-to-market activities, net                     3,123,000
   Other revenue                                      6,590,000
                                                ---------------
Total revenue                                       484,208,000

Cost of revenue:
   Plant operating expense                           54,455,000
   Royalty expense                                    1,797,000
   Transmission purchase expense                      5,430,000
   Purchased power and gas
      for hedging and optimization                  105,265,000
   Fuel expense                                     218,312,000
   Depreciation & amortization expense               37,341,000
   Operating lease expense                            6,615,000
   Other cost of revenue                              5,100,000
                                                ---------------
Total cost of revenue                               434,315,000
                                                ---------------
Gross profit                                         49,893,000
Project development expense                             995,000
Research and development expense                      1,087,000
Sales, general and administrative expense            12,685,000
                                                ---------------
Income (loss) from operations                        35,126,000
Interest expense                                    102,891,000
Interest (income)                                    (9,095,000)
Minority interest expense                              (139,000)
Other (income) expense, net                         (10,581,000)
                                                ---------------
Loss before organization items, benefit for
income taxes and cumulative effect of a change
in accounting principle                             (47,950,000)

Reorganization items                                223,425,000
                                                ---------------
Loss before benefit for income taxes and
cumulative effect of a change in accounting
principle                                          (271,375,000)

Provision (benefit) for income taxes                  2,849,000
                                                ---------------
Net loss                                          ($274,224,000)
                                                ===============

Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants.  Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces.  Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services.

The Company filed for chapter 11 protection on Dec. 20, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard M. Cieri, Esq.,
Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G.
Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their
restructuring efforts.  Michael S. Stamer, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  As of Dec. 19, 2005, the Debtors listed
$26,628,755,663 in total assets and $22,535,577,121 in total
liabilities.  (Calpine Bankruptcy News, Issue No. 24; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or   
215/945-7000)


CALPINE CORPORATION: Posts $207 Million Net Loss in May 2006
------------------------------------------------------------

                       Calpine Corporation
              Condensed Consolidating Balance Sheet
                       As of May 31, 2006

                             ASSETS

Current assets:
   Cash & cash equivalents                         $919,875,000
   Accounts receivable, net                         965,334,000
   Margin deposits & other prepaid expense          327,687,000
   Inventories                                      151,904,000
   Restricted cash                                  374,962,000
   Current derivative assets                        255,611,000
   Current assets held for sale                      39,542,000
   Other current assets                              85,178,000
                                                ---------------
Total current assets                              3,120,093,000

   Restricted cash, net of current portion          193,539,000
   Notes receivable, net of current portion         159,024,000
   Project development costs                         24,247,000
   Investments                                       52,957,000
   Deferred financing costs                         176,655,000
   Prepaid lease, net of current portion            352,179,000
   Property, plant & equipment, net              14,420,259,000
   Goodwill                                          45,160,000
   Other intangible assets, net                      52,507,000
   Long-term derivative assets                      475,148,000
   Other assets                                     601,416,000
                                                ---------------
Total assets                                    $19,673,184,000
                                                ===============

               LIABILITIES & STOCKHOLDERS' DEFICIT

Current liabilities:
   Accounts payable                                 469,056,000
   Accrued payroll and related expense               50,306,000
   Accrued interest payable                         200,533,000
   Income taxes payable                              99,073,000
   Notes payable & other borrowings                 187,366,000
   Preferred interests                                9,124,000
   Capital lease obligations                        284,932,000
   CCFC financing                                   783,259,000
   CalGen financing                               2,509,201,000
   Construction/project financing                 2,188,527,000
   Senior notes and term loans                          848,000
   DIP Facility                                       3,500,000
   Current derivative liabilities                   405,592,000
   Other current liabilities                        370,795,000
                                                ---------------
Total current liabilities                         7,562,112,000

   Notes payable and other borrowings               468,208,000
   Preferred interests                              579,122,000
   Capital lease obligations                          3,578,000
   Construction/project financing                   202,179,000
   DIP Facility                                     995,625,000
   Deferred income taxes                            375,426,000
   Deferred revenue                                 138,319,000
   Long-term derivative liabilities                 644,460,000
   Other liabilities                                133,863,000
                                                ---------------
Total liabilities not subject to compromise      11,102,892,000
Liabilities subject to compromise                14,842,744,000

Minority interests                                  274,811,000

Stockholders' equity (deficit):
   Common stock                                         569,000
   Additional paid-in capital                     3,267,885,000
   Additional paid-in capital, loaned shares        258,100,000
   Additional paid-in capital, returnable shares   (258,100,000)
   Accumulated deficit                           (9,684,020,000)
   Accumulated other comprehensive loss            (131,697,000)
                                                ---------------
Total stockholders' deficit                      (6,547,263,000)
                                                ---------------
Total liabilities & stockholders' deficit       $19,673,184,000
                                                ===============


                       Calpine Corporation
         Condensed Consolidating Statement of Operations
                 For period ending May 31, 2006

Revenue:
   Electricity and steam revenue                   $397,485,000
   Transmission sales revenue                           182,000
   Sales of purchased power & gas
      for hedging and optimization                  132,037,000
   Mark-to-market activities, net                    (6,450,000)
   Other revenue                                     10,047,000
                                                ---------------
Total revenue                                       533,301,000

Cost of revenue:
   Plant operating expense                           70,292,000
   Royalty expense                                      946,000
   Transmission purchase expense                      5,166,000
   Purchased power and gas
      for hedging and optimization                  154,752,000
   Fuel expense                                     207,264,000
   Depreciation & amortization expense               42,404,000
   Operating plant impairments                           (4,000)
   Operating lease expense                            6,274,000
   Other cost of revenue                              7,270,000
                                                ---------------
Total cost of revenue                               494,364,000
                                                ---------------
Gross profit                                         38,937,000
Equipment, development project & other impairments     (841,000)
Project development expense                           1,436,000
Research and development expense                      1,303,000
Sales, general and administrative expense            16,146,000
                                                ---------------
Income (loss) from operations                        20,893,000
Interest expense                                    100,565,000
Interest (income)                                    (7,765,000)
Minority interest expense                               876,000
(Income) loss from repurchase
   of various debt issuances                         18,107,000
Other (income) expense, net                            (715,000)
                                                ---------------
Loss before organization items, benefit for
income taxes and cumulative effect of a change
in accounting principle                             (90,175,000)

Reorganization items                                114,867,000
                                                ---------------
Loss before benefit for income taxes and
cumulative effect of a change in accounting
principle                                          (205,042,000)

Provision (benefit) for income taxes                  2,152,000
                                                ---------------
Net loss                                          ($207,194,000)
                                                ===============

The Company filed for chapter 11 protection on Dec. 20, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard M. Cieri, Esq.,
Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G.
Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their
restructuring efforts.  Michael S. Stamer, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  As of Dec. 19, 2005, the Debtors listed
$26,628,755,663 in total assets and $22,535,577,121 in total
liabilities.  (Calpine Bankruptcy News, Issue No. 24; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or   
215/945-7000)


DELTA AIR: Posts $2.162 Billion Net Loss in June 2006
-----------------------------------------------------

                     DELTA AIR LINES, INC.
             Unaudited Consolidated Balance Sheets
                       As of June 30, 2006

                             ASSETS

CURRENT ASSETS:
Cash and cash equivalents                        $2,431,000,000
Short-term investments                              464,000,000
Restricted cash                                   1,046,000,000
Accounts receivable, net of an allowance for
   uncollectible accounts of $37                  1,030,000,000
Expendable parts and supplies inventories, net
   of an allowance for obsolescence of $207         172,000,000
Prepaid expenses and other                          759,000,000
                                                ---------------
Total current assets                              5,902,000,000

PROPERTY AND EQUIPMENT:
Flight equipment                                 17,982,000,000
Accumulated depreciation                         (6,605,000,000)
                                                ---------------
Flight equipment, net                            11,377,000,000

Ground property and equipment                     4,648,000,000
Accumulated depreciation                         (2,823,000,000)
                                                ---------------
Ground property and equipment, net                1,825,000,000

Flight and ground equipment
   under capital leases                             523,000,000
Accumulated amortization                           (154,000,000)
                                                ---------------
Flight and ground equipment
   under capital leases, net                        369,000,000
                                                ---------------


Advance payments for equipment                       44,000,000
                                               ---------------
Total property and equipment, net                13,615,000,000

OTHER ASSETS:
Goodwill                                            227,000,000
Operating rights and other intangibles,
   net of accumulated amortization of $193           70,000,000
Other noncurrent assets                             923,000,000
                                                ---------------
Total other assets                                1,220,000,000
                                                ---------------
Total assets                                    $20,737,000,000
                                                ===============

             LIABILITIES AND SHAREOWNERS' DEFICIT

CURRENT LIABILITIES:
Current maturities of long-term debt
   and capital leases                            $1,399,000,000
Accounts payable, deferred credits
   and other accrued liabilities                  1,570,000,000
Air traffic liability                             2,470,000,000
Taxes payable                                       641,000,000
Accrued salaries and related benefits               390,000,000
                                                ---------------
Total current liabilities                         6,470,000,000

NONCURRENT LIABILITIES:
Long-term debt and capital leases                 6,508,000,000
Deferred revenue and other credits                  294,000,000
Other                                               342,000,000
                                                ---------------
Total noncurrent liabilities                      7,144,000,000

LIABILITIES SUBJECT TO COMPROMISE                20,989,000,000

COMMITMENTS AND CONTINGENCIES

SHAREOWNERS' DEFICIT:
Common stock:
$0.01 par value; 900,000,000 shares
   authorized; 202,081,648 shares issued              2,000,000
Additional paid-in capital                        1,561,000,000
Accumulated deficit                             (12,485,000,000)
Accumulated other comprehensive loss             (2,720,000,000)
Treasury stock at cost, 4,745,710 shares           (224,000,000)
                                                ---------------
Total shareowners' deficit                      (13,866,000,000)
                                                ---------------
Total liabilities and shareowners' deficit      $20,737,000,000
                                                ===============


                     DELTA AIR LINES, INC.
          Unaudited Consolidated Statement of Operations
               For the Month Ended June 30, 2006

OPERATING REVENUES:
Passenger:
   Mainline                                      $1,188,000,000
   Regional affiliates                              371,000,000
   Cargo                                             43,000,000
   Other, net                                       104,000,000
                                                ---------------
Total operating revenues                          1,706,000,000

OPERATING EXPENSES:
Aircraft fuel                                       405,000,000
Salaries and related costs                          337,000,000
Contract carrier arrangements                       227,000,000
Depreciation and amortization                       120,000,000
Contracted services                                  84,000,000
Passenger commissions and
   other selling expenses                            82,000,000
Landing fees and other rents                         66,000,000
Aircraft maintenance materials and
   outside repairs                                   59,000,000
Passenger service                                    27,000,000
Aircraft rent                                        25,000,000
Restructuring, asset writedowns, pension
   settlements and related items, net                 8,000,000
Other                                                59,000,000
                                                ---------------
Total operating expenses                          1,499,000,000
                                                ---------------
OPERATING INCOME                                    207,000,000
                                                ---------------
OTHER INCOME (EXPENSE):
Interest expense (contractual interest
   expense equals $100 for the month ended
   June 30, 2006)                                   (73,000,000)
Interest income                                       7,000,000
Miscellaneous, net                                    8,000,000
                                                ---------------
Total other expense, net                            (58,000,000)
                                                ---------------
INCOME BEFORE REORGANIZATION ITEMS, NET             149,000,000

REORGANIZATION ITEMS, NET                        (2,307,000,000)
                                                ---------------
LOSS BEFORE INCOME TAXES                         (2,158,000,000)

INCOME TAX PROVISION                                 (4,000,000)
                                                ---------------
NET LOSS                                        ($2,162,000,000)
                                                ===============


                     DELTA AIR LINES, INC.
         Unaudited Consolidated Statements of Cash Flows
                For the Month ended June 30, 2006

CASH FLOWS FROM OPERATING ACTIVITIES               $214,000,000

CASH FLOWS FROM INVESTING ACTIVITIES:
Property and equipment additions:
   Flight equipment, including
      advance payments                               (8,000,000)
   Ground property and equipment                    (13,000,000)
Proceeds from sale of flight equipment                3,000,000
Increase in restricted cash                          (2,000,000)
Other, net                                            1,000,000
                                                ---------------
Net cash provided by investing activities           (19,000,000)

CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on long-term debt and
   capital lease obligations                        (24,000,000)
                                                ---------------
Net cash used by financing activities               (24,000,000)
                                                ---------------
Net increase in cash and cash equivalents           171,000,000

Cash & cash equivalents at beginning of period    2,260,000,000

Cash & cash equivalents at end of period         $2,431,000,000
                                                ===============

Headquartered in Atlanta, Georgia, Delta Air Lines --
http://www.delta.com/-- is the world's second-largest airline in
terms of passengers carried and the leading U.S. carrier across
the Atlantic, offering daily flights to 502 destinations in 88
countries on Delta, Song, Delta Shuttle, the Delta Connection
carriers and its worldwide partners.  The Company and 18
affiliates filed for chapter 11 protection on Sept. 14, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-17923).  Marshall S. Huebner,
Esq., at Davis Polk & Wardwell, represents the Debtors in their
restructuring efforts.  Timothy R. Coleman at The Blackstone Group
L.P. provides the Debtors with financial advice.  Daniel H.
Golden, Esq., and Lisa G. Beckerman, Esq., at Akin Gump Strauss
Hauer & Feld LLP, provide the Official Committee of Unsecured
Creditors with legal advice.  John McKenna, Jr., at Houlihan Lokey
Howard & Zukin Capital and James S. Feltman at Mesirow Financial
Consulting, LLC, serve as the Committee's financial advisors.  As
of June 30, 2005, the Company's balance sheet showed $21.5 billion
in assets and $28.5 billion in liabilities. (Delta Air Lines
Bankruptcy News, Issue No. 40; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


PERFORMANCE TRANSPORT: Files June 2006 Monthly Operating Report
---------------------------------------------------------------
Performance Transportation Services, Inc., and its debtor-
affiliates filed with the U.S. Bankruptcy Court for the Western
District of New York their Monthly Operating Statement for the
period from June 1, 2006, to June 30, 2006.

The Operating Statements do not include a Balance Sheet or
Statement of Operations.  The Debtors, however, disclose a
$2,090,600 operating net loss for the period.

                 Performance Logistics Group, Inc.
         In re. Leaseway Motorcar Transport Company, et al.
                    U.S. Operations Cash Flow
                For the Month Ended June 30, 2006

Book balance:
   Opening book balance, 06/01/06                    $7,630,275
                                                    -----------

Receipts  
   Customers                                         29,132,025
   Miscellaneous receipts                             1,554,550
                                                    -----------
   Total receipts                                    30,686,575
                                                    -----------

Disbursements
   Payroll, payroll taxes & fringe benefits          16,546,903
   Insurance & cargo losses                           2,319,791
   Fuel and fuel taxes                                4,212,378
   Parts, tires, other operating supplies & expenses  3,407,421
   Licenses, permits & tolls                            565,312
   Tractor, trailer lease payments                      129,160
   Building, land, service vehicles and other rents     458,008
   Interest & bank fee payments                         536,075
   Income, franchise & property taxes                    85,232
   Misc/DIP Line (Draw) / Repayments     
   Capital expenditures                                  27,372
   Professional Fees                                    524,645
                                                    -----------
   Total Disbursements                               28,812,297
                                                    -----------
Closing Book Balance, End of Month                   $9,504,553
                                                    ===========

A full-text copy of the Debtors' June 2006 Operating Statements
is available for free at http://ResearchArchives.com/t/s?fe8

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.  David Neier, Esq., at Winston & Strawn LLP, represents
the Official Committee of Unsecured Creditors.  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. 12; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or  
215/945-7000)


REFCO INC: Refco LLC Files June 2006 Monthly Operating Report
-------------------------------------------------------------
Albert Togut, the Chapter 7 trustee appointed to oversee the
liquidation of Refco, LLC's estate, filed with the Bankruptcy
Court a monthly statement of cash receipts and disbursements for
the period from June 1 to 30, 2006.

The Chapter 7 Trustee reports that Refco LLC's beginning balance
as of June 1 totals $774,221,000.  The Debtor's beginning  
purchase price account balance totals $61,626,000 and its  
beginning capital account "A" balance totals $712,595,000.

The purchase price account includes activity related to Man
Financial sale proceeds and related disbursements.  Capital
account "A" includes activity related to collection of excess
capital.

Refco LLC received $6,016,000 in cash and disbursed $1,984,000.
The Debtor held $778,253,000 at the end of the period.

Refco LLC reimbursed Refco Capital LLC, for $120,000 in gross
payroll costs allocated to the Debtor's estate for time spent by
employees of other Refco, Inc. entities.

The Chapter 7 Trustee prepared the Statement of Receipts and
Disbursements in lieu of comprehensive financial statements.

A full-text copy of Refco LLC's June 2006 Monthly Statement is
available at no charge at http://ResearchArchives.com/t/s?fee

Based in New York, Refco Inc. -- http://www.refco.com/-- is a
diversified financial services organization with operations in
14 countries and an extensive global institutional and retail
client base.  Refco's worldwide subsidiaries are members of
principal U.S. and international exchanges, and are among the most
active members of futures exchanges in Chicago, New York, London
and Singapore.  In addition to its futures brokerage activities,
Refco is a major broker of cash market products, including foreign
exchange, foreign exchange options, government securities,
domestic and international equities, emerging market debt, and OTC
financial and commodity products.  Refco is one of the largest
global clearing firms for derivatives.

The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts.  Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors.  Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.

Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134).  Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada.  Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.  Albert Togut, the chapter 7
trustee, is represented by Togut, Segal & Segal LLP.

On April 13, 2006, the Court appointed Marc S. Kirschner as Refco
Capital Markets Ltd.'s chapter 11 trustee.  Mr. Kirschner is
represented by Bingham McCutchen LLP.  RCM is Refco's operating
subsidiary based in Bermuda.

Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262).  (Refco Bankruptcy News, Issue
No. 35; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


SILICON GRAPHICS: Posts $11 Mil. Net Loss in Period Ended July 28
-----------------------------------------------------------------

                      Silicon Graphics, Inc.
               Unaudited Consolidated Balance Sheet
                        As of July 28, 2006
                          (In Thousands)

                              Assets

Current Assets:
    Cash and cash equivalents                            $39,694
    Short-term marketable investments                        309
    Short-term restricted investments                     49,903
    Accounts receivable, net                              51,452
    Inventories                                           57,112
    Prepaid expenses                                       9,635
    Other current assets                                  33,885
                                                       ---------
       Total current assets                              241,990

Restricted investments                                       290
Property and equipment, net                               26,884
Other non-current assets                                  83,816
                                                       ---------
TOTAL ASSETS                                            $352,980
                                                       =========

              Liabilities and Stockholders' Deficit

Liabilities not subject to compromise
Current liabilities:
    Accounts payable                                     $11,345
    Accrued compensation                                  23,281
    Income taxes payable                                     883
    Other current liabilities                             41,659
    Current portion of deferred revenue                   87,282
    Current portion of restructuring liability             5,454
    Current portion of long-term debt                    103,133
                                                       ---------
       Total current liabilities                         273,037

Long-term debt                                               373
Non-current portion of deferred revenue                   43,886
Other non-current liabilities                             27,874
                                                       ---------
    Total liabilities not subject to compromise          345,170

Liabilities subject to compromise                        317,088
                                                       ---------
    Total Liabilities                                    662,258
                                                       ---------
Stockholders deficit
    Common stock and additional paid-in capital        1,560,159
    Accumulated deficit                               (1,849,759)
    Treasury stock                                        (6,760)
    Accumulated other comprehensive loss                 (12,918)
                                                       ---------
       Total stockholders' deficit                      (309,278)
                                                       ---------
TOTAL LIABILITIES & STOCKHOLDERS DEFICIT                $352,980
                                                       =========


                      Silicon Graphics, Inc.
          Unaudited Consolidated Statement of Operations
                 For the Month Ended July 28, 2006
                          (In Thousands)

Revenue:
    Product and other revenue                             $7,090
    Product revenue from related party                       917
    Service revenue                                       14,087
                                                       ---------
       Total revenue                                      22,094

Costs and expenses:
    Cost of product and other revenue                      5,221
    Cost of service revenue                                8,272
    Research and development                               5,124
    Selling, general, and administrative                   7,924
    Other operating expenses, net                          1,464
                                                       ---------
       Total Costs and Expenses                           28,005

Operating Loss                                            (5,911)

Interest expense                                          (2,196)
Interest and other income (expense), net                    (234)
                                                       ---------
Loss before reorganization items and income taxes         (8,341)
Reorganization items                                      (2,585)
                                                       ---------
    Loss before income taxes                             (10,926)

Income tax provision                                          95
                                                       ---------
NET LOSS                                                ($11,021)
                                                       =========


                      Silicon Graphics, Inc.
          Unaudited Consolidated Statement of Cash Flows
                 For the Month Ended July 28, 2006
                          (In Thousands)

Cash Flows from Operation Activities:
Net Loss                                                ($11,021)

Adjustments to Reconcile Net loss to
Net Cash Used In Operating Activities:
    Depreciation & Amortization                            3,242
    Amortization and discount on L-T debt, net                 -
    Write-off of unamortized premium
     and discount on L-T debt subject to compromise            -
    Write-off of unamortized loan cost on
     payoff of term loan                                       -
    Other                                                   (695)

Changes in operating assets and liabilities:
    Accounts receivable                                    8,199
    Inventories                                           (7,099)
    Accounts payable                                       2,140
    Accrued compensation                                     880
    Deferred revenue                                      (7,676)
    Other assets and liabilities                          (1,842)
                                                       ---------
       Total adjustments                                  (2,851)
                                                       ---------
    Net Cash Used in Operating Activities                (13,872)

Cash flows From Investment Activities:
    Purchases of marketable investments                     (108)
    Proceeds from the maturities
     of marketable investments                                 -
    Restricted investments:
       Purchases                                          (3,419)
       Maturities                                          2,389
    Purchases of property and equipment                      (44)
    Decrease in other assets                               1,429
                                                       ---------
       Net Cash Provided by Investing Activities             247

Cash flows From Financing Activities:
    Payments of debt principal                                 -
    Proceeds from debt financing                               -
    Net proceeds from (reductions in)
     financing arrangements                                  (33)
    Proceeds from employee stock plans                         -
                                                       ---------
       Net Cash Used in Financing Activities                 (33)

     Net Decrease in Cash & Cash Equivalents             (13,658)

     Cash & Cash Equivalents at Beginning of Month        53,352
                                                       ---------
     Cash & Cash Equivalents at End of the Month         $39,694
                                                       =========

Headquartered in Mountain View, California, Silicon Graphics, Inc.
(OTC: SGID) -- http://www.sgi.com/-- offers high-performance
computing.  SGI helps customers solve their computing challenges,
whether it's sharing images to aid in brain surgery, finding oil
more efficiently, studying global climate, providing technologies
for homeland security and defense, enabling the transition from
analog to digital broadcasting, or helping enterprises manage
large data.  The Debtor and 13 of its affiliates filed for chapter
11 protection on May 8, 2006 (Bankr. S.D.N.Y. Case Nos. 06-10977
through 06-10990).  Gary Holtzer, Esq., and Shai Y. Waisman, Esq.,
at Weil Gotshal & Manges LLP, represent the Debtors in their
restructuring efforts.  When the Debtors filed for protection from
their creditors, they listed total assets of $369,416,815 and
total debts of $664,268,602.  (Silicon Graphics Bankruptcy News,
Issue No. 14; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


WERNER LADDER: Files Schedules of Assets and Liabilities
--------------------------------------------------------

A.     Real Property
          Land                                       $2,890,079
          Land Improvements                             132,945
          Buildings                                   9,181,984
          Building Equipment                            466,001

B.     Personal Property
B.1    Cash on hand                                      12,041
B.2    Bank accounts                                  6,187,378
B.3    Security deposits                                952,072
B.4    Household goods                                     None
B.5    Book, art work & collectibles                       None
B.6    Wearing apparel                                     None
B.7    Furs and jewelry                                    None
B.8    Firearms and sporting goods                         None
B.9    Interests in insurance policies                     None
B.10   Annuities                                           None
B.11   Interests in retirement plans                       None
B.12   Stock and interests                                 None
B.13   Interests in partnerships                           None
          100% Ownership of Werner Funding Corp.        Unknown
          100% Ownership of WIP Technologies, Inc.      Unknown
B.14   Bonds                                               None
B.15   Government and corporate bonds                      None
B.16   Accounts receivable
          Trade receivables                          77,453,127
          Note receivables                              169,286
          Travel advances to employees                   91,700
          Intercompany receivable:
             Werner Funding Corp.                    23,277,689
             Werner Holding Co. (PA), Inc.              690,466

B.17   Alimony                                             None
B.18   Other liquidated debts owed                      120,230
B.19   Equitable and future interests                      None
B.20   Contingent interests                                None
B.21   Other contingent & unliquidated claims           Unknown
B.22   Patents, copyrights & trademarks                 Unknown
B.23   Licenses, franchises & other intangibles            None
B.24   Customer lists or other compilations                None
B.25   Automobiles                                        3,430
B.26   Boats                                               None
B.27   Aircraft and accessories                            None
B.28   Office equipment                               9,701,244
B.29   Machinery                                     28,415,039
B.30   Inventory
          Finished Goods                             44,672,000
          WIP                                        12,275,000
          Raw Materials                               8,370,000
          Supplies                                    3,503,000
          Total Reserves                             (6,145,000)
B.31   Animals                                             None
B.32   Crops                                               None
B.33   Farming equipment                                   None
B.34   Farm supplies, chemicals and feed                   None
B.35   Other personal property
          C1 Main Cylinder Housing Repl                 150,732
          El Paso Warehousing & Communications           43,806
          El Paso Warehouse Equipment                    44,435
          Erlanger-Subproject-IT Related                195,855
          Erlanger-Subproject-Whse Equipment            101,688
          JuarezIII Expans. Cap. Lease Improvements     198,780
          Juarez Expansion-IT Equipment                  85,845
          JIII Stepladder Hand Ass'y Relocation         103,885
          Others                                        521,186

       TOTAL SCHEDULED ASSETS                      $223,865,924
                                                  =============

C.     Property Claimed as Exempt                          None

D.     Secured Claims
          JPMorgan Chase                            $79,370,636
          Credit Suisse First Boston                103,024,894
          JPMorgan Chase, Trustee for Rate Demand
          Industrial Bldg Revenue Bonds               5,006,427

E.     Unsecured Priority Claims
          Carroll County Tax Collector                   11,164
          Cook County Tax Assessor                      566,796
          Others                                         40,950

F.     Unsecured Non-Priority Claims
          American Screw & Rivet                        106,774
          Axel                                           74,494
          Babcock                                       120,415
          Bayloff Die & Machine                         357,744
          BOARDMAN MOLDED PRODUCTS INC                   78,316
          Century Industries Inc.                       237,482
          Clear Cast Technologies Inc.                   76,750
          Coinco Inc.                                   265,505
          Comor Inc.                                    192,266
          Constellation New Energy                      141,423
          Egli W J Company Inc.                          85,176
          El Paso Tool & Die                            129,204
          EPI Printers Inc.                             227,219
          Goshen Stamping Co. Inc.                      191,974
          Grupo American Industries                      99,144
          Hollinee Glass Fibers                         267,518
          ILS                                           226,358
          Internal Revenue Service                      124,443
          Owens Corning Fiberglass                      763,109
          Saint-Gobain Vetrotex America Inc.          1,002,830
          Signature Aluminum (LOG)                      431,906
          Signature Aluminum (PS3)                      568,094
          Southwest Tape & Label, Inc.                   98,651
          Sutecki, Richard P.                           102,000
          Transpacific Inc.                             108,492
          Venture Plastics Inc.                         123,901
          Werner Holding Co. (DE), Inc.             231,814,450
          Werner Holding Co. (PA), Inc.                  18,601
          WIP Technologies, Inc.                      7,777,097
          Yellow Freight                                181,545
          Others                                     23,382,159
          Others                                   Unliquidated

       TOTAL SCHEDULED LIABILITIES                 $457,395,906
                                                  =============

Headquartered in Greenville, Pennsylvania, Werner Co. --
http://www.wernerladder.com/-- manufactures and distributes
ladders, climbing equipment and ladder accessories.  The company
and three of its affiliates filed for chapter 11 protection on
June 12, 2006 (Bankr. D. Del. Case No. 06-10578).  The firm of
Willkie Farr & Gallagher LLP serves as the Debtors' counsel.  Kara
Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and Robert S.
Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP, represents
the Debtors as its co-counsel.  The Debtors have retained
Rothschild Inc. as their financial advisor.  At March 31, 2006,
the Debtors reported total assets of $201,042,000 and total debts
of $473,447,000.  (Werner Ladder Bankruptcy News, Issue No. 7;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


WERNER LADDER: Holding Co. (DE) Files Schedules of Assets & Debts
-----------------------------------------------------------------

A.     Real Property                                       None

B.     Personal Property
B.2    Bank account
          Wilmington Trust Company (Account No. 4354)     3,439
B.13   Stock interests                                 
          100% Ownership of Werner Co.                  Unknown
B.16   Accounts receivable
          Intercompany - Werner Co.                 231,814,450
B.28   Office equipment                                     409

       TOTAL SCHEDULED ASSETS                      $231,818,298
                                                  =============

C.     Property Claimed as Exempt                          None

D.     Secured Claims
         JPMorgan Chase                             $79,370,636
         Credit Suisse First Boston                 103,024,894
         JPMorgan Chase                               5,108,905

E.     Unsecured Priority Claims                           None

F.     Unsecured Non-Priority Claims
          PNC Advisors as Trustee for Werner
             Holding Co. (DE)'s Retirement Plan    Unliquidated
          BNY as Indenture Trustee                  142,725,000
          Werner Holding Co. (PA), Inc.               2,070,437
          Werner Holding Co. (DE)'s
             Supplemental Pension Plan A & B       Unliquidated
          Various Employees (Nonqualified SERP)    Unliquidated

       TOTAL SCHEDULED LIABILITIES                 $332,299,873
                                                  =============

Headquartered in Greenville, Pennsylvania, Werner Co. --
http://www.wernerladder.com/-- manufactures and distributes
ladders, climbing equipment and ladder accessories.  The company
and three of its affiliates filed for chapter 11 protection on
June 12, 2006 (Bankr. D. Del. Case No. 06-10578).  The firm of
Willkie Farr & Gallagher LLP serves as the Debtors' counsel.  Kara
Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and Robert S.
Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP, represents
the Debtors as its co-counsel.  The Debtors have retained
Rothschild Inc. as their financial advisor.  At March 31, 2006,
the Debtors reported total assets of $201,042,000 and total debts
of $473,447,000.  (Werner Ladder Bankruptcy News, Issue No. 7;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


WERNER LADDER: Holding Co. (PA) Files Schedules of Assets & Debts
-----------------------------------------------------------------

A.     Real Property                                       None

B.     Personal Property
B.2    Bank account
          PNC Bank (Account No. 9209)                        $0
B.13   Stock interests
          100% Ownership of Werner Co.                  Unknown
B.16   Accounts receivable
          Werner Co.                                 18,601,063
          Werner Holding Co. (DE), Inc.               2,070,437
          Others                                        254,169
B.18   Other liquidated debts owed                        6,728
B.21   Other contingent and unliquidated claims       1,034,000

       TOTAL SCHEDULED ASSETS                       $21,966,397
                                                   ============

C.     Property Claimed as Exempt                          None

D.     Secured Claims
          JPMorgan Chase                            $79,370,636
          Credit Suisse First Boston                103,024,894

E.     Unsecured Priority Claims
          Internal Revenue Service
             12/31/1995                               3,000,000
             12/31/2003                               3,000,000
             12/31/2005                               3,000,000
          Pa Department of Revenue                       62,521

F.     Unsecured Non-priority Claims
          Werner Co.                                    690,466

       TOTAL SCHEDULED LIABILITIES                 $192,148,517
                                                  =============

Headquartered in Greenville, Pennsylvania, Werner Co. --
http://www.wernerladder.com/-- manufactures and distributes
ladders, climbing equipment and ladder accessories.  The company
and three of its affiliates filed for chapter 11 protection on
June 12, 2006 (Bankr. D. Del. Case No. 06-10578).  The firm of
Willkie Farr & Gallagher LLP serves as the Debtors' counsel.  Kara
Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and Robert S.
Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP, represents
the Debtors as its co-counsel.  The Debtors have retained
Rothschild Inc. as their financial advisor.  At March 31, 2006,
the Debtors reported total assets of $201,042,000 and total debts
of $473,447,000.  (Werner Ladder Bankruptcy News, Issue No. 7;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


WERNER LADDER: WIP Technology Files Schedules of Assets & Debts
---------------------------------------------------------------

A.     Real Property                                       None

B.     Personal Property
B.2    Bank account
          Wilmington Trust Company (Account No. 8729)    $3,925
B.16   Accounts receivable
          Intercompany - Werner Co.                   7,777,097
B.22   Intellectual property
          Patent or trademark names                     Unknown

       TOTAL SCHEDULED ASSETS                        $7,781,022
                                                    ===========

C.     Property Claimed as Exempt                          None

D.     Secured Claims
          JPMorgan Chase                            $79,370,636
          Credit Suisse First Boston                103,024,894

E.     Unsecured Priority Claims                           None

F.     Unsecured Non-Priority Claims                       None

       TOTAL SCHEDULED LIABILITIES                 $182,395,531
                                                  =============

Headquartered in Greenville, Pennsylvania, Werner Co. --
http://www.wernerladder.com/-- manufactures and distributes
ladders, climbing equipment and ladder accessories.  The company
and three of its affiliates filed for chapter 11 protection on
June 12, 2006 (Bankr. D. Del. Case No. 06-10578).  The firm of
Willkie Farr & Gallagher LLP serves as the Debtors' counsel.  Kara
Hammond Coyle, Esq., Matthew Barry Lunn, Esq., and Robert S.
Brady, Esq., Young, Conaway, Stargatt & Taylor, LLP, represents
the Debtors as its co-counsel.  The Debtors have retained
Rothschild Inc. as their financial advisor.  At March 31, 2006,
the Debtors reported total assets of $201,042,000 and total debts
of $473,447,000.  (Werner Ladder Bankruptcy News, Issue No. 7;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 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/

On Thursdays, the TCR delivers a list of recently filed chapter 11
cases involving less than $1,000,000 in assets and liabilities
delivered to nation's bankruptcy courts.  The list includes links
to freely downloadable images of these small-dollar petitions in
Acrobat PDF format.

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.  Rizande B.
Delos Santos, Shimero Jainga, Joel Anthony G. Lopez, Tara Marie A.
Martin, Jason A. Nieva, Emi Rose S.R. Parcon, Lucilo M. Pinili,
Jr., Marie Therese V. Profetana, Robert Max Quiblat, Christian Q.
Salta, Cherry A. Soriano-Baaclo, 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.


                    *** End of Transmission ***