TCR_Public/060916.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, September 16, 2006, Vol. 10, No. 221

                             Headlines

ACCEPTANCE INSURANCE: Posts $184,587 Net Loss in August 2006
ALLIED HOLDINGS: Posts $8.1 Million Net Loss in July 2006
CALPINE CORPORATION: Earns $92.2 Million in July 2006
DELPHI CORPORATION: Posts $534 Million Net Loss in July 2006
FOAMEX INT'L: Posts $2.2 Million Net Loss in Period Ended July 30

MERIDIAN AUTOMOTIVE: Posts $22.2 Million Net Loss in July 2006
NEWPOWER HOLDINGS: Files Monthly Report for Period Ended July 31
SILICON GRAPHICS: Posts $8.6 Mil. Net Loss in Period Ended Aug. 25
SONICBLUE INC: Files July 2006 Monthly Operating Report
THAXTON GROUP: Posts $70 Mil. Cumulative Net Loss in July 2006

                             *********

ACCEPTANCE INSURANCE: Posts $184,587 Net Loss in August 2006
------------------------------------------------------------
On September 7, 2006, Acceptance Insurance Companies Inc. filed
its monthly operating report for August 2006 with the United
States Bankruptcy Court for the District of Nebraska.

The Debtor reports a $184,587 net loss on $9,689 of total revenue
for August 2006.

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

       Total Current Assets                   $2,128,604
       Total Assets                          $32,459,587
       Total Liabilities                    $138,238,903
       Total Shareholders' Deficit         ($105,779,316)

A full-text copy of Acceptance Insurance Companies Inc.'s August
2006 Monthly Operating Report is available at no charge at
http://ResearchArchives.com/t/s?11a7

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.


ALLIED HOLDINGS: Posts $8.1 Million Net Loss in July 2006
---------------------------------------------------------

                      Allied Holdings, Inc.
               Unaudited Consolidated Balance Sheet
                       As of July 31, 2006
                         (In Thousands)

                              Assets

Current Assets:
        Cash and cash equivalents                            $347
        Receivables, net of allowances                     39,233
        Related party receivables                          17,018
        Inventories                                         5,258
        Prepayments and other current assets               28,909
                                                        ---------
           Total current assets                            90,765

Property and equipment, net                               120,557
Goodwill, net                                               3,545
Deferred income taxes                                          63
Other noncurrent assets                                    22,126
Investment in related parties                              24,176
                                                        ---------
TOTAL ASSETS                                             $261,232
                                                        =========

              Liabilities and Stockholders' Deficit

Current liabilities not subject to compromise:
         DIP facility                                    $149,245
         Canadian revolving credit facility                    71
         Accounts and notes payable                        32,571
         Deferred income taxes                                 80
         Accrued liabilities                               50,786
                                                        ---------
           Total current liabilities                      232,753

Long-term liabilities not subject to compromise
         Postretirement benefits                            4,331
         Other long term liabilities                       21,421
                                                        ---------
           Total long term liabilities                     25,752

Liabilities subject to compromise                         199,410
Stockholders deficit                                     (196,683)
                                                        ---------
        Total liabilities & stockholders deficit         $261,232
                                                        =========

                      Allied Holdings, Inc.
          Unaudited Consolidated Statement of Operations
                For the Month Ended July 31, 2006
                         (In Thousands)

Revenues                                                  $51,753

Operating Expenses
        Salaries, Wages & Fringe benefits                  27,888
        Operating supplies & expenses                      12,613
        Purchased transportation                            7,721
        Insurance and claims                                2,333
        Operating tax and licenses                          1,943
        Depreciation and amortization                       2,236
        Rents                                                 595
        Communications and utilities                          421
        Other operating expenses                              499
        Gain on disposal of operating assets, net             (19)
                                                        ---------
           Total Operating Expenses                        56,230
                                                        ---------
           Operating Income (Loss)                         (4,477)

Other Income (Expense)
        Interest expense                                   (1,807)
        Investment income                                       4
        Foreign exchange gains, net                          (472)
        Equity in earnings of subsidiaries                    349
                                                        ---------
                                                           (1,926)
                                                        ---------
Income (Loss) before reorganization items
  and income taxes                                         (6,403)

Reorganization items                                       (1,791)
                                                        ---------
Income (Loss) before income taxes                          (8,194)
Income tax expense                                              -
                                                        ---------
NET INCOME (LOSS)                                         ($8,194)
                                                        =========

The Debtors disclose cash disbursements totaling $8,486,977
during July 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. 30;
Bankruptcy Creditors' Service, Inc. http://bankrupt.com/newsstand/
or 215/945-7000)


CALPINE CORPORATION: Earns $92.2 Million in July 2006
-----------------------------------------------------

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

                             ASSETS

Current assets:
   Cash & cash equivalents                        $877,289,000
   Accounts receivable, net                      1,043,724,000
   Margin deposits & other prepaid expense         294,486,000
   Inventories                                     169,006,000
   Restricted cash                                 479,516,000
   Current derivative assets                       329,687,000
   Current assets held for sale                    383,892,000
   Other current assets                            131,029,000
                                               ---------------
Total current assets                             3,708,629,000

   Restricted cash, net of current portion         199,458,000
   Notes receivable, net of current portion        154,261,000
   Project development costs                        26,319,000
   Investments                                      67,118,000
   Deferred financing costs                        165,545,000
   Prepaid lease, net of current portion           196,876,000
   Property, plant & equipment, net             13,932,203,000
   Goodwill                                         45,160,000
   Other intangible assets, net                     51,967,000
   Long-term derivative assets                     582,364,000
   Other assets                                    618,150,000
                                               ---------------
Total assets                                   $19,748,050,000
                                               ===============

               LIABILITIES & STOCKHOLDERS' DEFICIT

Current liabilities:
   Accounts payable                               $566,372,000
   Accrued payroll and related expense              43,311,000
   Accrued interest payable                        180,072,000
   Income taxes payable                             99,073,000
   Notes payable & other borrowings                181,833,000
   Preferred interests                               9,124,000
   Capital lease obligations                       286,209,000
   CCFC financing                                  783,528,000
   CalGen financing                              2,510,519,000
   Construction/project financing                1,997,850,000
   DIP Facility                                      3,500,000
   Current derivative liabilities                  490,625,000
   Other current liabilities                       301,012,000
                                               ---------------
Total current liabilities                        7,453,028,000

   Notes payable and other borrowings              467,362,000
   Preferred interests                             579,122,000
   Capital lease obligations                           319,000
   Construction/project financing                  420,050,000
   DIP Facility                                    994,750,000
   Deferred income taxes                           350,037,000
   Deferred revenue                                143,796,000
   Long-term derivative liabilities                735,889,000
   Other liabilities                               150,955,000
                                               ---------------
Total liabilities not subject to compromise     11,295,308,000
Liabilities subject to compromise               14,954,756,000

Minority interests                                 265,922,000
Stockholders' equity (deficit):
   Common stock                                        569,000
   Additional paid-in capital                    3,268,855,000
   Additional paid-in capital, loaned shares       258,100,000
   Additional paid-in capital, returnable shares  (258,100,000)
   Accumulated deficit                          (9,928,138,000)
   Accumulated other comprehensive loss           (109,222,000)
                                               ---------------
Total stockholders' deficit                     (6,767,936,000)
                                               ---------------
Total liabilities & stockholders' deficit      $19,748,050,000
                                               ===============


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

Revenue:
   Electricity and steam revenue                  $625,693,000
   Sales of purchased power & gas
      for hedging and optimization                 168,506,000
   Mark-to-market activities, net                  (13,825,000)
   Other revenue                                     4,334,000
                                                 -------------
Total revenue                                      784,708,000

Cost of revenue:
   Plant operating expense                          31,265,000
   Royalty expense                                   2,481,000
   Transmission purchase expense                     5,060,000
   Purchased power and gas
      for hedging and optimization                 135,110,000
   Fuel expense                                    380,872,000
   Depreciation & amortization expense              37,058,000
   Operating plant impairments
   Operating lease expense                           1,358,000
   Other cost of revenue                             2,690,000
                                                 -------------
Total cost of revenue                              595,894,000
                                                 -------------
Gross profit                                       188,814,000
Equipment, development project & other impairment      (26,000)
Project development expense                          1,864,000
Research and development expense                     1,319,000
Sales, general and administrative expense           14,118,000
                                                 -------------
Income (loss) from operations                      171,539,000
Interest expense                                    74,094,000
Interest (income)                                   (6,461,000)
Minority interest expense                            2,927,000
(Income) loss from repurchase of debt issuances
Other (income) expense, net                          2,686,000
                                                 -------------
Loss before organization items, benefit for
income taxes and cumulative effect of a change
in accounting principle                             98,293,000
Reorganization items                                 4,346,000
                                                 -------------
Loss before benefit for income taxes and
cumulative effect of a change in accounting
principle                                           93,947,000
Provision (benefit) for income taxes                 1,723,000
                                                 -------------
Net loss                                           $92,224,000
                                                 =============

Headquartered in San Jose, California, Calpine Corporation (OTC
Pink Sheets: CPNLQ) -- 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. 26; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DELPHI CORPORATION: Posts $534 Million Net Loss in July 2006
------------------------------------------------------------

                    Delphi Corporation, et al.
               Unaudited Consolidated Balance Sheet
                       As of July 31, 2006
                          (In Millions)

                              ASSETS

Current assets:         
   Cash and cash equivalents                               $933
   Restricted cash                                           76
   Accounts receivable, net
      General Motors and affiliates                       1,428
      Other third parties                                 1,395
      Non-Debtor subsidiaries                               333
   Notes receivable from non-Debtor subsidiaries            355
   Inventories, net
      Productive material, work-in-process and supplies     967
      Finished goods                                        332
   Prepaid expenses and other                               292
                                                       --------
      TOTAL CURRENT ASSETS                                6,111

Long-term assets:
   Property, net                                          2,575
   Investment in affiliates                                 379
   Investments in non-Debtor subsidiaries                 3,454
   Goodwill                                                 152
   Other intangible assets                                   39
   Pension intangible assets                                678
   Other                                                    336
                                                       --------
TOTAL ASSETS                                            $13,724
                                                       ========


              LIABILITIES AND STOCKHOLDERS' DEFICIT         

Current liabilities not subject to compromise:
   Secured debt in default                                2,496
   Accounts payable                                       1,089
   Accounts payable to non-Debtor subsidiaries              349
   Accrued liabilities                                    1,155
                                                       --------
   TOTAL CURRENT LIABILITIES                              5,098

Long-term liabilities not subject to compromise:
   Debtor-in-possession financing                           250
   Employee benefit plan obligations and other              750
                                                       --------
   TOTAL LONG-TERM LIABILITIES                            1,000

Liabilities subject to compromise                        15,966
                                                       --------
   TOTAL LIABILITIES                                     22,064
          
Stockholders' deficit:         
   Common stock                                               6
   Additional paid-in capital                             2,758
   Accumulated deficit                                   (9,601)
   Minimum pension liability                             (1,451)
   Treasury stock, at cost (3.2 million shares)             (52)
                                                       --------
   TOTAL STOCKHOLDERS' DEFICIT                           (8,340)
                                                       --------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT             $13,724
                                                       ========


                    Delphi Corporation, et al.
          Unaudited Consolidated Statement of Operations
                    Month Ended July 31, 2006
                          (In Millions)

Net sales:                  
   General Motors and affiliates                           $450
   Other customers                                          391
   Intercompany non-Debtor subsidiaries                      53
                                                       --------
Total net sales                                             894
                                                       --------
Operating expenses:                  
   Cost of sales                                          1,076
   U.S. employee special attrition program charges          184
   Selling, general and administrative                       87
   Depreciation and amortization                             52
   Goodwill and long-lived asset impairment charges           -
                                                       --------
Total operating expenses                                  1,399
                                                       --------
Operating loss                                             (505)

Interest expense                                            (32)
Other expense, net                                            1

Reorganization items                                          -
Income tax benefit (expense)                                 (1)
Equity income from non-consolidated subsidiaries              2
Equity income from non-Debtor subsidiaries, net of tax        3
Cumulative effect of accounting charge, net of tax            -
                                                       --------
NET LOSS                                                  ($534)
                                                       ========


                    Delphi Corporation, et al.
          Unaudited Consolidated Statement of Cash Flows
                    Month Ended July 31, 2006
                           (In Millions)

Cash flows from operating activities:         
   Net loss                                               ($534)
   Adjustments to reconcile net loss
    to net cash provided by operating activities:         
    Depreciation and amortization                            52
    Pension and other postretirement benefit expenses       124
    Equity income from unconsolidated subsidiaries, net      (2)
    Equity income from non-Debtor subsidiaries, net of tax   (3)
    Reorganization items                                      -
    U.S. employee attrition program charges                 184
   Changes in operating assets and liabilities:         
    Accounts receivable, net                                752
    Inventories, net                                        (84)
    Prepaid expenses and other                              (37)
    Accounts payable, accrued and other long-term debts    (340)
    Pension contributions                                   (60)
    Other postretirement benefit payments                   (20)
    Receipts (payments) for reorganization items, net       (10)
    Other                                                    83
                                                       --------
Net cash used in operating activities                      (105)
        
Cash flows from investing activities:
   Capital expenditures                                     (32)
   Increase in restricted cash                                -
   Proceeds from sale of property                             -
   Other                                                     12
                                                       --------
Net cash used in investing activities                       (20)

Cash flows from financing activities:
   Repayments under cash overdraft                           (1)
   Repayments of borrowings under other debt                 (1)
                                                       --------
Net cash used in financing activities                        (2)
                                                       --------
Increase in cash and cash equivalents                        83
Cash and cash equivalents at beginning of period            850
                                                       --------
Cash and cash equivalents at end of period                 $933
                                                       ========

Based in Troy, Mich., Delphi Corporation -- http://www.delphi.com/
-- is the single largest global supplier of vehicle electronics,
transportation components, integrated systems and modules, and
other electronic technology.  The Company's technology and
products are present in more than 75 million vehicles on the road
worldwide.  The Company filed for chapter 11 protection on Oct. 8,
2005 (Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler
Jr., Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in
their restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell
A. Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins
LLP, represents the Official Committee of Unsecured Creditors.
As of Aug. 31, 2005, the Debtors' balance sheet showed
$17,098,734,530 in total assets and $22,166,280,476 in total
debts.  (Delphi Bankruptcy News, Issue No. 40; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


FOAMEX INT'L: Posts $2.2 Million Net Loss in Period Ended July 30
-----------------------------------------------------------------

             Foamex International, et al., as Debtors
                    Consolidated Balance Sheet
                      As of July 30, 2006

                              ASSETS

Current Assets
      Cash                                            $2,979,000
      Accounts Receivable, net                       172,093,000
      Inventory                                      106,311,000
      Other current assets                            21,013,000
                                                    ------------
Total current assets                                 302,395,000

Land & land improvements                               4,918,000
Buildings                                             86,635,000
Leasehold improvement                                  6,058,000
Machinery & Equipment                                202,146,000
Furniture & Fixtures                                   5,126,000
Auto equipment                                         7,761,000
Computer equipment                                     8,381,000
Construction in progress                               3,247,000
Accumulated depreciation                            (229,174,000)
                                                    ------------
Total property plant & equipment, net                 95,099,000
        
Goodwill, net                                         86,191,000
Debt Issuance costs, net                               2,921,000
Investment in subsidiaries                            14,919,000
Long-term intercompany receivable                      4,850,000
Other Assets                                          50,698,000
                                                    ------------
Total Assets                                        $557,074,000
                                                    ============

              LIABILITIES & STOCKHOLDERS' DEFICIENCY

Current Liabilities
      Revolver borrowings                            $63,729,000
      Current portion of long-term debt               86,228,000
      Accounts payable                                89,285,000
      Intercompany                                       (44,000)
      Accrued employee costs                          17,201,000
      Accrued rebates                                  6,536,000
      Accrued interest                                 4,430,000
      Other current liabilities                       22,110,000
                                                    ------------
Total current liabilities                            289,475,000

Long-term debt                                           251,000
Intercompany debt                                              -
Liability Subject to Compromise                      657,957,000
Other liabilities                                     24,546,000
                                                    ------------
Total Long-Term Liabilities                          682,753,000
                                                    ------------
Total Liabilities                                    972,228,000

Common stock                                             281,000
Preferred stock                                           15,000
Additional paid-in capital                           103,337,000
Treasury stock                                       (27,780,000)
Partners' capital                                              -
Other comprehensive income (loss)                    (38,437,000)
Shareholder loans                                     (9,221,000)
Accumulated deficit                                 (443,350,000)
                                                    ------------
Stockholders' deficiency                            (415,155,000)
                                                    ------------
Total Liabilities & Stockholders Deficiency         $557,074,000
                                                    ============


             Foamex International, et al., as Debtors
                  Consolidated Income Statement
                    July 3 to July 30, 2006

Gross Sales                                          $94,824,000
Rebates, Discount & Sale Allowance                    (5,024,000)
                                                    ------------
Net Sales                                             89,799,000

Material                                              56,977,000
Labor                                                  3,442,000
Overhead                                              12,308,000
Asset Impairments                                              -
Freight/Shipping                                       4,120,000
                                                    ------------
Cost of Sales                                         76,847,000
                                                    ------------
Gross Profit                                          12,952,000

Labor Expense                                          4,595,000
Indirect Materials & Samples                              77,000
Equipment & Maintenance Expense                           42,000
Facility Expense                                         173,000
Travel & Entertainment                                   211,000
Technology                                               189,000
Professional Fees & Services                           1,551,000
Other Miscellaneous Expense                              238,000
Insurance & Tax                                          171,000
Bad debt expense                                        (554,000)
Bank/Collection Costs                                     50,000
Transportation Cost                                       12,000
Depreciation/Amortization                                317,000
Corp. Cost to COS                                       (685,000)
                                                    ------------
Selling, general & admin expenses                      6,388,000
Loss (gain) on sale of assets                           (293,000)
Restructuring & Impairment Charges                        50,000
                                                    ------------
Income from operations                                 6,807,000

Interest Expense                                       6,673,000
Equity in earnings of JV & non-debtor subs              (921,000)
Other Income & (Expense)                                  (8,000)
Professional Fees                                      1,464,000
Provision/(Gains) - Rejected Contracts                         -
Bankruptcy Filing Fees                                         -
Other Expense (Income)                                    67,000
Debt Adjustment Gain/Loss                                      -
                                                    ------------
Reorganization Expense (Income)                        1,531,000
                                                    ------------
Income before Tax                                     (2,327,000)
Tax Provision                                            (80,000)
                                                    ------------
Net Income                                           ($2,247,000)
                                                    ============

Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of        
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets.  The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries.  The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).  
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts.  Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders.  Kenneth A. Rosen,
Esq., and Sharon L. Levine, Esq., at Lowenstein Sandler PC and
Donald J. Detweiler, Esq., at Saul Ewings, LP, represent the
Official Committee of Unsecured Creditors.  As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts.  (Foamex International Bankruptcy
News, Issue No. 26; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


MERIDIAN AUTOMOTIVE: Posts $22.2 Million Net Loss in July 2006
--------------------------------------------------------------

             Meridian Automotive Systems - Composites
                 Operations, Inc. and Subsidiaries
               Unaudited Consolidated Balance Sheet
                       As of July 31, 2006
                         (In Thousands)

CURRENT ASSETS:
    Cash                                                      -
    Accounts receivable, net                            $75,937
    Intercompany receivable                              15,152
    Inventories                                          65,056
    Tooling costs in excess of billings and others       31,716
                                                     ----------
       TOTAL CURRENT ASSETS                             187,861
                                                     ----------
    Property, plant and equipment, net                  216,341
    Intangible assets                                    15,230
    Investment in subsidiaries                           23,863
    Other assets                                         11,568
                                                     ----------
       TOTAL ASSETS                                    $454,863
                                                     ==========

CURRENT LIABILITIES NOT SUBJECT TO COMPROMISE:
    Current portion of long term debt                  $343,389
    Accounts payable                                     46,164
    Accrued expenses                                     43,168
    Tooling billings in excess of costs                   5,725
                                                     ----------
       TOTAL CURRENT LIABILITIES                        438,446
                                                     ----------

    Liabilities subject to compromise                   492,641

    Non-Current Liabilities Not Subject to Compromise:
       Other long-term liabilities                        8,934
       Accumulated post-retirement benefit obligation    23,600
                                                     ----------
       TOTAL LIABILITIES                                963,621
       SHAREHOLDERS' EQUITY                            (508,758)
                                                     ----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY             $454,863
                                                     ==========


              Meridian Automotive Systems - Composite
                 Operations, Inc. and Subsidiaries
                 Unaudited Statement of Operations
                         July 1 to 31, 2006
                           (In Thousands)

Net sales                                               $42,156
Cost of sales                                            48,486
                                                     ----------
Gross profit                                             (6,330)

Selling, general and administrative expenses              2,445
Restructuring charges                                     2,189
                                                     ----------
Operating income (loss)                                 (10,964)

Interest expense, net                                     8,976
Other (expense) income                                       (2)
Chapter 11 and related reorganization items               2,295
                                                     ----------
Loss before provision for income taxes                  (22,233)
(Benefit) Provision for income taxes                         14
                                                     ----------
NET LOSS                                               ($22,247)
                                                     ==========


              Meridian Automotive Systems - Composite
                 Operations, Inc. and Subsidiaries
                 Unaudited Statement of Cash Flows
                         July 1 to 31, 2006
                           (In Thousands)

OPERATING ACTIVITIES:
    Net loss                                           ($22,247)
    Adjustments required to reconcile net loss to net
     cash provided by (used in) operating activities:
       Depreciation, amortization, and impairment         4,441
       Change in working capital and other operating
        items                                             2,445
                                                     ----------
     Net cash provided by (used for) operating
      activities before reorganization items            (15,361)
                                                     ----------
     Operating cash flows from reorganization items:
        Chapter 11 and related reorganization items       2,295
        Payments on Chapter 11 and related reorg items     (856)
                                                     ----------
     Net cash provided by Chapter 11 and related
      reorg items                                         1,439

     Net cash provided by (used for) operating
      activities                                        (13,922)

INVESTING ACTIVITIES:
    Additions to property and equipment                  (1,678)
    Proceeds from sale or property and equipment              -
                                                     ----------
    Net cash used for investing activities               (1,678)
                                                     ----------

FINANCING ACTIVITIES:
    Proceeds from prepetition borrowings                      -
    Repayments of prepetition borrowings                      -
    Proceeds from DIP credit facility                    37,400
    Repayments of DIP credit facility                   (21,600)
    Repayments on prepetition long-term debt                  -
    Deferred financing costs capitalized                   (200)
                                                     ----------
Net cash (used for) provided by financing activities     15,600
                                                     ----------
Net increase (decrease) in cash                               -
                                                     ----------
Cash and Cash Equivalents, beginning of period                -

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

Headquartered in Dearborn, Mich., Meridian Automotive Systems,
Inc. -- http://www.meridianautosystems.com/-- supplies
technologically advanced front and rear end modules, lighting,
exterior composites, console modules, instrument panels and other
interior systems to automobile and truck manufacturers.  Meridian
operates 22 plants in the United States, Canada and Mexico,
supplying Original Equipment Manufacturers and major Tier One
parts suppliers.  The Company and its debtor-affiliates filed for
chapter 11 protection on April 26, 2005 (Bankr. D. Del. Case Nos.
05-11168 through 05-11176).  James F. Conlan, Esq., Larry J.
Nyhan, Esq., Paul S. Caruso, Esq., and Bojan Guzina, Esq., at
Sidley Austin Brown & Wood LLP, and Robert S. Brady, Esq., Edmon
L. Morton, Esq., Edward J. Kosmowski, Esq., and Ian S. Fredericks,
Esq., at Young Conaway Stargatt & Taylor, LLP, represent the
Debtors in their restructuring efforts.  Eric E. Sagerman, Esq.,
at Winston & Strawn LLP represents the Official Committee of
Unsecured Creditors.  The Committee also hired Ian Connor
Bifferato, Esq., at Bifferato, Gentilotti, Biden & Balick, P.A.,
to prosecute an adversary proceeding against Meridian's First Lien
Lenders and Second Lien Lenders to invalidate their liens.  When
the Debtors filed for protection from their creditors, they listed
$530 million in total assets and approximately $815 million in
total liabilities.  (Meridian Bankruptcy News, Issue No. 38;
Bankruptcy Creditors' Service, Inc. http://bankrupt.com/newsstand/
or 215/945-7000).


NEWPOWER HOLDINGS: Files Monthly Report for Period Ended July 31
----------------------------------------------------------------
On Sept. 11, 2006, NewPower Holdings, Inc., filed its Monthly
Operating Report for the period from June 30, 2006, to July 31,
2006, with the U.S. Bankruptcy Court for the Northern District of
Georgia, Newnan Division.  The company reports an opening cash
balance of $50,948,000 and a closing cash balance of $50,778,000.

A full-text copy of NewPower Holdings, Inc.'s Monthly Operating
Report for the period from June 30, 2006, to July 31, 2006, is
available at no charge at http://ResearchArchives.com/t/s?11ac

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

On Aug. 15, 2003, the United States Bankruptcy Court for the
Northern District of Georgia, Newnan Division, confirmed the
Second Amended Chapter 11 Plan with respect to NewPower Holdings,
Inc., and TNPC Holdings, Inc., a wholly owned subsidiary of the
Company.  That Plan became effective on Oct. 9, 2003, with respect
to the Company and TNPC.

On Feb. 28, 2003, the Bankruptcy Court confirmed The New Power
Company's Plan, and that Plan has been effective as of March 11,
2003 with respect to New Power.  The New Power Company is a wholly
owned subsidiary of the Company.  


SILICON GRAPHICS: Posts $8.6 Mil. Net Loss in Period Ended Aug. 25
------------------------------------------------------------------


                      Silicon Graphics, Inc.
               Unaudited Consolidated Balance Sheet
                      As of August 25, 2006
                          (In Thousands)

                              Assets

Current assets:
    Cash and cash equivalents                            $26,837
    Short-term marketable investments                        255
    Short-term restricted investments                     50,428
    Accounts receivable, net                              43,628
    Inventories                                           65,884
    Prepaid expenses                                      12,696
    Other current assets                                  28,197
                                                        --------
       Total current assets                              227,925

Restricted investments                                      290
Property and equipment, net of
  accumulated depreciation and amortization               25,957
Other non-current assets                                  81,444
                                                        --------
TOTAL ASSETS                                            $335,616
                                                        ========

           Liabilities and Stockholders' Deficit

Liabilities not subject to compromise
Current liabilities:
    Accounts payable                                     $22,330
    Accrued compensation                                  20,488
    Income taxes payable                                     964
    Other current liabilities                             35,614
    Current portion of deferred revenue                   77,984
    Current portion of restructuring liability             8,762
    Current portion of long-term debt                    103,138
                                                        --------
       Total current liabilities                         269,280

Long-term debt                                               348
Non-current portion of deferred revenue                   43,886
Other non-current liabilities                             28,056
                                                        --------
    Total liabilities not subject to compromise          341,570

Liabilities subject to compromise                        316,762
                                                        --------
    Total liabilities                                    658,332
                                                        --------
Stockholders' deficit
    Common stock and additional paid-in capital        1,564,504
    Accumulated deficit                               (1,860,464)
    Treasury stock                                        (6,760)
    Accumulated other comprehensive loss                 (19,996)
                                                        --------
       Total stockholders' deficit                      (322,716)
                                                        --------
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT               $335,616
                                                        ========

                      Silicon Graphics, Inc.
          Unaudited Consolidated Statement of Operations
                      As of August 25, 2006
                          (In Thousands)

Revenue:
    Product and other revenue                            $10,017
    Product revenue from related party                     5,331
    Service revenue                                       17,395
                                                        --------
       Total revenue                                      32,743

Costs and expenses:
    Cost of product and other revenue                     12,223
    Cost of service revenue                                8,595
    Research and development                               4,207
    Selling, general, and administrative                  10,500
    Other operating expenses, net                            940
                                                        --------
       Total costs and expenses                           36,465

Operating loss                                            (3,722)

Interest expense                                          (2,187)
Interest and other income (expense), net                     173
                                                        --------
Loss before reorganization items and income taxes         (5,736)
Reorganization items                                     (2,828)
                                                         --------
       Loss before income taxes                           (8,564)

Income tax provision                                          98
                                                        --------
Net loss                                                 ($8,662)
                                                        ========

                      Silicon Graphics, Inc.
          Unaudited Consolidated Statement of Cash Flows
                      As of August 25, 2006
                          (In Thousands)

Cash Flows from Operation Activities:
Net loss                                                 ($8,662)

Adjustments to Reconcile Net Loss to
Net Cash Used in Operating Activities:
    Depreciation & amortization                            3,477
    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                                                   (251)

Changes in operating assets and liabilities:
    Accounts receivable                                    7,824
    Inventories                                           (9,943)
    Accounts payable                                      10,186
    Accrued compensation                                  (3,053)
    Deferred revenue                                      (8,249)
    Other assets and liabilities                          (2,821)
                                                        --------
       Total adjustments                                  (2,830)
                                                        --------
    Net Cash Used in Operating Activities                (11,492)

Cash flows From Investment Activities:
    Purchases of marketable investments                        -
    Proceeds from the maturities
     of marketable investments                                54
    Restricted investments:
       Purchases                                          (1,261)
       Maturities                                          1,065
    Purchases of property and equipment                     (143)
    Increase in other assets                              (1,047)
                                                        --------
       Net Cash Used in Investing Activities              (1,332)

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              (12,857)

    Cash & Cash Equivalents at Beginning of Month         39,694
                                                        --------
    Cash & Cash Equivalents at End of the Month          $26,837
                                                        ========

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.  The Debtors' exclusive plan-filing
period will expire on Dec. 29, 2006, and its exclusive
solicitation period will expire on Feb. 28, 2007.  (Silicon
Graphics Bankruptcy News, Issue No. 17; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


SONICBLUE INC: Files July 2006 Monthly Operating Report
-------------------------------------------------------
On Sept. 10, 2006, SONICblue Incorporated reports that it is
sitting on $78,352,897 of cash, has accrued $711,521 in
postpetition liabilities and faces a $236,604,166 mountain of
prepetition debts.

A full-text copy of SONICblue Inc.'s July 2006 Operating
Report is available at no charge at:

             http://ResearchArchives.com/t/s?11aa

                        About SONICBlue

Headquartered in Santa Clara, California, SONICblue Incorporated
is involved in the converging Internet, digital media,
entertainment and consumer electronics markets.  The Company,
together with three of its wholly owned subsidiaries, Diamond
Multimedia Systems, Inc., ReplayTV, Inc., and Sensory Science
Corporation, filed for chapter 11 protection on Mar. 21, 2003
(Bankr. N.D. Calif. Case Nos. 03-51775 to 03-51778).  Craig A.
Barbarosh, Esq., at the Law Offices of Pillsbury Winthrop,
represents the Debtors in their restructuring efforts.
Craig M. Rankin, Esq. at Levene, Neale, Bender, Rankin and Brill,
represents the Official Committee of Unsecured Creditors.  When
the Debtors filed for protection from their creditors, they listed
assets totaling $342,871,000 and debts totaling $335,473,000.


THAXTON GROUP: Posts $70 Mil. Cumulative Net Loss in July 2006
--------------------------------------------------------------
The Thaxton Group filed its monthly operating report for the month
of July 2006 with the U.S. Bankruptcy Court for the District of
Delaware.

The company reported a cumulative net loss of $70,033,336 on
$147,384,039 of revenue for the period from Oct. 17, 2003 thru
July 31, 2006.

At July 31, 2006, the Company's balance sheet reflects:

          Total Assets                     $99,581,470
          Total Liabilities               $180,067,440
          Stockholders' Equity (Deficit)  ($80,485,970)

A full-text copy of Thaxton Group's July 2006 Monthly
Operating Report is available for free at:

               http://ResearchArchives.com/t/s?11a5

Headquartered in Lancaster, South Carolina, The Thaxton Group,
Inc., is a diversified consumer financial services company.
The Company filed for Chapter 11 protection on October 17, 2003
(Bankr. Del. Case No. 03-13183).  Daniel B. Butz, Esq.,
Michael G. Busenkell, Esq., and Robert J. Dehney, Esq., at
Morris, Nichols, Arsht & Tunnell, represent the Debtors in their
restructuring efforts.  Alan Kolod, Esq., at Moses & Singer LLP,
represents the Offical Committee of Unsecured Creditors.  As of
Dec. 31, 2005, the Debtors reported assets totaling $98,889,297
and debts totaling $175,693,613.

                             *********

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
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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
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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,
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Cherry A. Soriano-Baaclo, Christian Q. Salta, Jason A. Nieva,
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Peter A. Chapman, Editors.

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

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