TCR_Public/061118.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, November 18, 2006, Vol. 10, No. 275

                             Headlines

ALLIED HOLDINGS: Posts $1.1 Million Net Loss in September 2006
ACCEPTANCE INSURANCE: Posts $65,404 Net Loss for October 2006
DANA CORP: Posts $298 Million Net Loss in September 2006
DANA CORP: Files Schedules of Assets and Liabilities
DANA CORP: Dana Atlantic Files Schedules of Assets and Liabilities

DANA CORP: DTF Trucking Files Schedules of Assets and Liabilities
DANA CORP: Dana IT Files Schedules of Assets and Liabilities
DANA CORP: EFMG Files Schedules of Assets and Liabilities
PERFROMANCE TRANSPORTATION: Files September 2006 Operating Report
TOWER AUTOMITIVE: Posts $111.8 Million Net Loss in September 2006

WERNER LADDER: Files Revised Sept. 2006 Monthly Operating Report

                             *********

ALLIED HOLDINGS: Posts $1.1 Million Net Loss in September 2006
--------------------------------------------------------------

                       Allied Holdings, Inc.
                Unaudited Consolidated Balance Sheet
                     As of September 30, 2006
                           (In Thousands)

                               Assets

Current Assets:
        Cash and cash equivalents                           $389
        Receivables, net of allowances                    48,155
        Related party receivables                         19,036
        Inventories                                        5,181
        Prepayments and other current assets              19,530
                                                       ---------
        Total current assets                              92,291

Property and equipment, net                              125,559
Goodwill, net                                              3,545
Deferred income taxes                                        127
Other non-current assets                                  22,842
Investment in related parties                             25,271
                                                       ---------
TOTAL ASSETS                                            $269,635
                                                       =========

               Liabilities and Stockholders' Deficit

Current liabilities not subject to compromise
         DIP facility                                   $156,172
         Accounts and notes payable                       28,695
         Deferred income taxes                               145
         Accrued liabilities                              53,545
                                                       ---------
         Total current liabilities                      $238,557

Long-term liabilities not subject to compromise
         Postretirement benefits                           4,314
         Other long-term liabilities                      23,404
                                                       ---------
         Total long-term liabilities                    27,718

Liabilities subject to compromise                        199,199
Stockholders' deficit                                   (195,839)
                                                       ---------
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT               $269,635
                                                       =========

                       Allied Holdings, Inc.
           Unaudited Consolidated Statement of Operations
               For the Month Ended September 30, 2006
                           (In Thousands)

Revenues                                                 $73,656

Operating Expenses
        Salaries, Wages & Fringe benefits                 38,025
        Operating supplies & expenses                     15,086
        Purchased transportation                           8,900
        Insurance & claims                                 4,405
        Operating tax & licenses                           2,335
        Depreciation & amortization                        2,287
        Rents                                                651
        Communications & utilities                           502
        Other operating expenses                           1,007
        Loss on disposal of operating assets, net             14
                                                       ---------
           Total Operating Expenses                       73,212
                                                       ---------
           Operating Income                                  444

Other Income (Expense)
        Interest expense                                  (1,775)
        Investment income                                      4
        Foreign exchange losses, net                        (304)
        Equity in earnings of subsidiaries                   561
                                                       ---------
                                                          (1,514)
                                                       ---------
Loss before reorganization items and income taxes         (1,070)
Reorganization items                                        (101)
                                                       ---------
Loss before income taxes                                  (1,171)
Income tax expense                                           (27)
                                                       ---------
NET LOSS                                                 ($1,198)
                                                       =========

The Debtors disclose cash disbursements totaling $5,324,478
during September 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. 34;
Bankruptcy Creditors' Service, Inc. http://bankrupt.com/newsstand/  
or 215/945-7000).


ACCEPTANCE INSURANCE: Posts $65,404 Net Loss for October 2006  
-------------------------------------------------------------
Acceptance Insurance Companies Inc. filed its monthly operating
report for October 2006 with the United States Bankruptcy Court
for the District of Nebraska on Nov. 13, 2006.

The Debtor reported $2,794,678 of net income from revenue of
$8,897 for the month ended Oct. 31, 2006.  Net loss for the month
ended Sept. 30, 2006, was $53,059.

The Company received $2,388,299 as equity in the operating
earnings of AIC.

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

        Total Current Assets                   $1,993,096
        Total Assets                          $35,184,161
        Total Liabilities                    $138,221,858
        Total Shareholders' Deficit         ($103,037,697)

A full-text copy of Acceptance Insurance Companies Inc.'s October
2006 Monthly Operating Report is available at no charge at
http://ResearchArchives.com/t/s?1554

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 and

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.


DANA CORP: Posts $298 Million Net Loss in September 2006
--------------------------------------------------------

                         Dana Corporation
                 Unaudited Condensed Balance Sheet
                       At September 30, 2006

ASSETS

CURRENT ASSETS
    Cash and cash equivalent assets                 $722,000,000
    Accounts receivable
       Trade                                       1,266,000,000
       Other                                         224,000,000
    Inventories                                      732,000,000
    Assets of discontinued operations                458,000,000
    Other current assets                             138,000,000
                                                  --------------
       Total current assets                        3,540,000,000

Investments and other assets                       1,309,000,000
Investments in equity affiliates                     669,000,000
Net property, plant and equipment                  1,789,000,000
                                                  --------------
TOTAL ASSETS                                      $7,307,000,000
                                                  ==============

LIABILITY AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES
    Notes payable, including current portion
       of long-term debt                             $24,000,000
    Accounts payable                                 861,000,000
    Liabilities of discontinued operations           210,000,000
    Other accrued liabilities                        720,000,000
                                                  --------------
Total current liabilities                          1,815,000,000

Liabilities subject to compromise                  4,307,000,000
Deferred employee benefits and other
    non-current liabilities                          265,000,000
Long-term debt                                        16,000,000
DIP financing                                        700,000,000
Minority interest in consolidate subsidiaries         82,000,000
Shareholder' equity                                  123,000,000
                                                  --------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY        $7,307,000,000
                                                  ==============

                         Dana Corporation
            Unaudited Condensed Statement of Operations
              For the Month Ending September 30, 2006

Net Sales                                           $696,000,000
Costs and expenses
    Costs of sales                                   678,000,000
    Selling, general & administrative expenses        14,000,000
    Impairment of goodwill                            46,000,000
    Other income, net                                 11,000,000
                                                  --------------
Income (loss) from operations                        (31,000,000)
Interest expense                                       5,000,000
Reorganization charges                                10,000,000
                                                  --------------
Income (loss) before income taxes                    (46,000,000)
Income tax (expense) benefit                         (71,000,000)
Minority interest                                     (1,000,000)
Equity in earnings of affiliates                    (110,000,000)
                                                  --------------
Income (loss) before continuing operations          (228,000,000)
Income (loss) from discontinued operations           (70,000,000)
                                                  --------------
Net income (loss)                                  ($298,000,000)
                                                  ==============

                         Dana Corporation
             Unaudited Condensed Statement of Cash Flow
               For the Month Ended September 30, 2006

OPERATING ACTIVITIES
Net income (loss)                                  ($298,000,000)
Depreciation and amortization                         23,000,000
Charges related to divestitures & asset sales        (69,000,000)
Reorganization charges                                11,000,000
Payment of reorganization charges                    (13,000,000)
Working capital                                       30,000,000
Other                                                174,000,000
                                                  --------------
Net cash flow used for operating activities           (4,000,000)

INVESTING ACTIVITIES
Purchases of property, plant and equipment           (22,000,000)
Proceeds from sale of assets                           5,000,000
Other                                                 22,000,000
                                                  --------------
Net cash flow provided by operating activities         5,000,000

FINANCING ACTIVITIES
Net change in short-term debt                         (1,000,000)
Payments of long-term debt                             1,000,000
Proceeds from DIP facility                                     -
Increase (decrease) in long-term                               -
                                                  --------------
Net cash flow provided by financing activities                 0
Net increase in cash equivalents                       1,000,000
                                                  --------------
Cash and cash equivalents, beginning of period       721,000,000
                                                  --------------
Cash and cash equivalents, end of period            $722,000,000

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- designs  
and manufactures products for every major vehicle producer in the
world, and supplies drivetrain, chassis, structural, and engine
technologies to those companies.  Dana employs 46,000 people in 28
countries.  Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.  The
company and its affiliates filed for chapter 11 protection on
Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  Corinne Ball,
Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and
Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black,
Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio,
represent the Debtors.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor and investment
banker.  Ted Stenger from AlixPartners serves as Dana's Chief
Restructuring Officer.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, represents the Official Committee of
Unsecured Creditors.  Fried, Frank, Harris, Shriver & Jacobson,
LLP serves as counsel to the Official Committee of Equity Security
Holders.  Stahl Cowen Crowley, LLC serves as counsel to the
Official Committee of Non-Union Retirees.  When the Debtors filed
for protection from their creditors, they listed $7.9 billion in
assets and $6.8 billion in liabilities as of Sept. 30, 2005.
(Dana Corporation Bankruptcy News, Issue No. 26; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


DANA CORP: Files Schedules of Assets and Liabilities
----------------------------------------------------

A.     Real Property                                $138,201,203

B.     Personal Property
B.1    Cash on hand                                      532,152
B.2    Bank Accounts                                 164,200,790
B.3    Security Deposits                                 652,152
B.4    Household goods                              Undetermined
B.5    Collectibles                                    1,257,355
B.6    Wearing apparel                              Undetermined
B.9    Interests in Insurance Policies                24,620,973
B.13   Business Interests and stocks                Undetermined
B.14   Interests in partnerships                    Undetermined
B.15   Government and Corporate Bonds                137,403,142
B.16   Accounts Receivable                           586,098,300
B.18   Other Liquidated Debts                         44,491,830
B.20   Other Contingent & Unliquidated Claims             86,870
B.21   Intellectual Property                        Undetermined
B.25   Vehicles                                           58,950
B.28   Office equipment, furnishings and supplies     11,535,839
B.29   Machinery                                     276,161,317
B.30   Inventory                                     240,325,929
B.35   Other Personal Property
            Other personal property not listed        51,895,210
            Vendors with Debit Balances               41,260,006
            Intercompany Receivables
                CA Danaven                            47,713,839
                Dana Australia (Holdings), Ltd.       48,843,544
                Dana Heavy Axle Mexico                10,196,951
                Torque-Traction Manufacturing         60,035,482
                Torque-Traction Technologies          17,816,281
                Others                                39,454,447

        TOTAL SCHEDULED ASSETS                   [$1,942,842,562]

C.   Property Claimed as Exempt
D.   Secured Claim
E.   Unsecured Priority Claims
F.   Unsecured Non-priority Claims
        Accounts Payable                             184,201,246
        Intercompany-Debtor                          275,493,037
        Intercompany-Nondebtor
             Dana Canada Corporation                  12,919,282
             Dana Canada Holding Company              10,219,883
             Dana Credit Corporation                 293,832,715
             Dana Credit Corporation                  47,359,199
             Danaven                                  41,128,480
             Others                                   50,933,290
        Unsecured Funded Debt                      1,633,993,211

        TOTAL SCHEDULED LIABILITIES               $2,550,080,343

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- designs  
and manufactures products for every major vehicle producer in the
world, and supplies drivetrain, chassis, structural, and engine
technologies to those companies.  Dana employs 46,000 people in 28
countries.  Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.  The
company and its affiliates filed for chapter 11 protection on
Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  Corinne Ball,
Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and
Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black,
Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio,
represent the Debtors.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor and investment
banker.  Ted Stenger from AlixPartners serves as Dana's Chief
Restructuring Officer.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, represents the Official Committee of
Unsecured Creditors.  Fried, Frank, Harris, Shriver & Jacobson,
LLP serves as counsel to the Official Committee of Equity Security
Holders.  Stahl Cowen Crowley, LLC serves as counsel to the
Official Committee of Non-Union Retirees.  When the Debtors filed
for protection from their creditors, they listed $7.9 billion in
assets and $6.8 billion in liabilities as of Sept. 30, 2005.
(Dana Corporation Bankruptcy News, Issue No. 26; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


DANA CORP: Dana Atlantic Files Schedules of Assets and Liabilities
------------------------------------------------------------------

A.     Real Property                                  $3,193,198
B.     Personal Property
B.1    Cash on hand                                          310
B.2    Bank Accounts                                     485,882
B.9    Interests in Insurance Policies                    92,547
B.14   Interests in partnerships                    Undetermined
B.16   Accounts Receivable                             3,952,566
B.25   Vehicles                                                0
B.28   Office equipment, furnishings and supplies         70,806
B.29   Machinery                                      12,144,410
B.30   Inventory                                       3,227,772
B.35   Other Personal Property
            Other personal property not listed            10,877
            Vendors with Debit Balances                      431
            Intercompany Receivables
                Dana Corporation                         860,642

        TOTAL SCHEDULED ASSETS                       $24,039,441

C.     Property Claimed as Exempt
D.     Secured Claim
E.     Unsecured Priority Claims
F.     Unsecured Non-priority Claims                  $4,317,742

        TOTAL SCHEDULED LIABILITIES                   $4,317,742

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- designs  
and manufactures products for every major vehicle producer in the
world, and supplies drivetrain, chassis, structural, and engine
technologies to those companies.  Dana employs 46,000 people in 28
countries.  Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.  The
company and its affiliates filed for chapter 11 protection on
Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  Corinne Ball,
Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and
Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black,
Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio,
represent the Debtors.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor and investment
banker.  Ted Stenger from AlixPartners serves as Dana's Chief
Restructuring Officer.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, represents the Official Committee of
Unsecured Creditors.  Fried, Frank, Harris, Shriver & Jacobson,
LLP serves as counsel to the Official Committee of Equity Security
Holders.  Stahl Cowen Crowley, LLC serves as counsel to the
Official Committee of Non-Union Retirees.  When the Debtors filed
for protection from their creditors, they listed $7.9 billion in
assets and $6.8 billion in liabilities as of Sept. 30, 2005.
(Dana Corporation Bankruptcy News, Issue No. 26; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


DANA CORP: DTF Trucking Files Schedules of Assets and Liabilities
-----------------------------------------------------------------

A.     Real Property                                  $1,918,817
B.     Personal Property
B.1    Cash on hand                                          537
B.2    Bank Accounts                                           0
B.9    Interests in Insurance Policies                   414,566
B.14   Interests in partnerships                    Undetermined
B.16   Accounts Receivable                             3,749,914
B.25   Vehicles                                            6,594
B.28   Office equipment, furnishings and supplies         17,194
B.29   Machinery                                           1,030
B.35   Other Personal Property
            Other personal property not listed            25,199
            Vendors with Debit Balances                  407,301
            Intercompany Receivables
                Coupled Products, Inc.                 1,073,563
                Dana Canada Corporation                  981,889
                Hose & Tubing Products, Inc.             152,799
                Spicer Heavy Axle & Brake, Inc.          109,209
                Torque-Traction Integration            3,965,132
                Torque-Traction Manufacturing          2,856,376
                Torque-Traction Technologies             262,299
                Others                                   449,579

        TOTAL SCHEDULED ASSETS                       $16,391,998

C.     Property Claimed as Exempt
D.     Secured Claim
E.     Unsecured Priority Claims
F.     Unsecured Non-priority Claims                 $19,639,737

        TOTAL SCHEDULED LIABILITIES                  $19,639,737

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- designs  
and manufactures products for every major vehicle producer in the
world, and supplies drivetrain, chassis, structural, and engine
technologies to those companies.  Dana employs 46,000 people in 28
countries.  Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.  The
company and its affiliates filed for chapter 11 protection on
Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  Corinne Ball,
Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and
Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black,
Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio,
represent the Debtors.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor and investment
banker.  Ted Stenger from AlixPartners serves as Dana's Chief
Restructuring Officer.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, represents the Official Committee of
Unsecured Creditors.  Fried, Frank, Harris, Shriver & Jacobson,
LLP serves as counsel to the Official Committee of Equity Security
Holders.  Stahl Cowen Crowley, LLC serves as counsel to the
Official Committee of Non-Union Retirees.  When the Debtors filed
for protection from their creditors, they listed $7.9 billion in
assets and $6.8 billion in liabilities as of Sept. 30, 2005.
(Dana Corporation Bankruptcy News, Issue No. 26; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


DANA CORP: Dana IT Files Schedules of Assets and Liabilities
------------------------------------------------------------

A.     Real Property                                           0
B.     Personal Property
B.1    Cash on hand                                         $861
B.14   Interests in partnerships                    Undetermined
B.16   Accounts Receivable                             9,794,978
B.25   Vehicles                                                0
B.28   Office equipment, furnishings and supplies        879,178
B.29   Machinery                                         390,336
B.35   Other Personal Property
            Other personal property not listed         2,445,007
            Vendors with Debit Balances                    2,344
            Intercompany Receivables
                CA Danaven                                 1,405
                Spicer India Limited                       3,724
                Fujian Spicer Drivetrain Systems           1,348
                Spicer Ejes Pesatos                        8,984
                Others                                     1,409

        TOTAL SCHEDULED ASSETS                       $13,529,574

C.     Property Claimed as Exempt
D.     Secured Claim
E.     Unsecured Priority Claims
F.     Unsecured Non-priority Claims                  $4,317,742

        TOTAL SCHEDULED LIABILITIES                   $4,317,742

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- designs  
and manufactures products for every major vehicle producer in the
world, and supplies drivetrain, chassis, structural, and engine
technologies to those companies.  Dana employs 46,000 people in 28
countries.  Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.  The
company and its affiliates filed for chapter 11 protection on
Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  Corinne Ball,
Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and
Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black,
Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio,
represent the Debtors.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor and investment
banker.  Ted Stenger from AlixPartners serves as Dana's Chief
Restructuring Officer.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, represents the Official Committee of
Unsecured Creditors.  Fried, Frank, Harris, Shriver & Jacobson,
LLP serves as counsel to the Official Committee of Equity Security
Holders.  Stahl Cowen Crowley, LLC serves as counsel to the
Official Committee of Non-Union Retirees.  When the Debtors filed
for protection from their creditors, they listed $7.9 billion in
assets and $6.8 billion in liabilities as of Sept. 30, 2005.
(Dana Corporation Bankruptcy News, Issue No. 26; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


DANA CORP: EFMG Files Schedules of Assets and Liabilities
---------------------------------------------------------

A.     Real Property                                    $291,056
B.     Personal Property
B.1    Cash on hand                                          451
B.2    Bank Accounts                                           0
B.9    Interests in Insurance Policies                    30,581
B.13   Business Interests and stocks                Undetermined
B.14   Interests in partnerships                    Undetermined
B.16   Accounts Receivable                               919,616
B.18   Other Liquidated Debts                         57,983,553
B.25   Vehicles                                                0
B.28   Office equipment, furnishings and supplies              0
B.29   Machinery                                         915,141
B.35   Other Personal Property
            Other personal property not listed         6,530,588
            Vendors with Debit Balances                   10,983
            Intercompany Receivables
                Coupled Products, Inc.                15,202,311
                Dana Corporation                       1,645,891
                Echlin-Ponce, Inc.                     1,207,300
                Hose & Tubing Products, Inc.             979,368
                Others                                   129,045

        TOTAL SCHEDULED ASSETS                       $85,845,884

C.     Property Claimed as Exempt
D.     Secured Claim
E.     Unsecured Priority Claims
F.     Unsecured Non-priority Claims
            Accounts Payable                          $1,385,582
            Intercompany - Debtor                        490,492
            Intercompany - Nondebtor                      61,929

        TOTAL SCHEDULED LIABILITIES                   $1,938,003

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- designs  
and manufactures products for every major vehicle producer in the
world, and supplies drivetrain, chassis, structural, and engine
technologies to those companies.  Dana employs 46,000 people in 28
countries.  Dana is focused on being an essential partner to
automotive, commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.  The
company and its affiliates filed for chapter 11 protection on
Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  Corinne Ball,
Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and
Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black,
Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio,
represent the Debtors.  Henry S. Miller at Miller Buckfire & Co.,
LLC, serves as the Debtors' financial advisor and investment
banker.  Ted Stenger from AlixPartners serves as Dana's Chief
Restructuring Officer.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel LLP, represents the Official Committee of
Unsecured Creditors.  Fried, Frank, Harris, Shriver & Jacobson,
LLP serves as counsel to the Official Committee of Equity Security
Holders.  Stahl Cowen Crowley, LLC serves as counsel to the
Official Committee of Non-Union Retirees.  When the Debtors filed
for protection from their creditors, they listed $7.9 billion in
assets and $6.8 billion in liabilities as of Sept. 30, 2005.
(Dana Corporation Bankruptcy News, Issue No. 26; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


PERFROMANCE TRANSPORTATION: Files September 2006 Operating Report
-----------------------------------------------------------------

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

Book balance:
   Opening book balance, 09/01/06                    $4,327,399
                                                    -----------

Receipts
   Customers                                         23,825,222
   Miscellaneous receipts                             3,061,532
                                                    -----------
   Total receipts                                    26,886,754
                                                    -----------

Disbursements
   Payroll, payroll taxes & fringe benefits          13,500,782
   Insurance & cargo losses                           1,379,085
   Fuel and fuel taxes                                3,169,759
   Parts, tires, other operating supplies & expenses  2,655,477
   Licenses, permits & tolls                          1,117,906
   Tractor, trailer lease payments                      205,718
   Building, land, service vehicles and other rents     649,535
   Interest & bank fee payments                         285,387
   Income, franchise & property taxes                    86,345
   Misc/DIP Line (Draw) / Repayments                          -
   Capital expenditures                                  19,858
   Professional Fees                                    287,692
                                                    -----------
   Total Disbursements                               23,357,544
                                                    -----------
Closing Book Balance, End of Month                   $7,856,609

The Debtors filed with the Court their Monthly Operating
Statement for the period September 1 to 30, 2006.

The Operating Statements do not include a Balance Sheet or
Statement of Operations.  The Debtors, however, disclosed a
$3,028,200 operating net loss for the period.

A full-text copy of the Debtors' September 2006 Operating
Statements is available for free at:

http://ResearchArchives.com/t/s?14ea

Headquartered in Niagara Falls, New York, Leaseway Motorcar
Transport Company -- http://www.pts-inc.biz/-- is the second   
largest North American transporter of new light vehicles.  The
Debtors also established a short-haul vehicle receiving service.  
The Debtors have also developed software and support services to
conduct their hauling services more efficiently and have created
derivative applications of those software to assist other
businesses in tracking their inventory.  The Debtor and 13
affiliates filed for chapter 11 protection on Jan. 25, 2006
(Bankr. W.D.N.Y. Case No. 06-00107).  Garry M. Graber, Esq., at
Hodgson Russ LLP represent the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they estimated assets between $10 million and $50
million and more than $100 million in debts.


TOWER AUTOMITIVE: Posts $111.8 Million Net Loss in September 2006
-----------------------------------------------------------------

             Tower Automotive, Inc., and Subsidiaries
               Unaudited Consolidated Balance Sheet
                     As of September 30, 2006
                          (In Thousands)

Cash and cash equivalents                                $34,491
Accounts receivable                                      146,119
Inventories                                               62,244
Prepaid tooling and other                                 17,115
                                                    ------------
TOTAL CURRENT ASSETS                                     259,969
                                                    ------------
Property, plant and equipment, net                       507,427
Investment in and advances to affiliates                 775,008
Other assets, net                                         45,899
                                                    ------------
TOTAL ASSETS                                          $1,588,303
                                                    ============

CURRENT LIABILITIES NOT SUBJECT TO COMPROMISE:
Current maturities of L-T debt and capital lease         $15,156
  obligations
Current maturities of DIP borrowings                     650,000
Accounts payable                                         110,057
Accrued liabilities                                      102,036
                                                    ------------
    TOTAL CURRENT LIABILITIES                            877,249
                                                    ------------
Liabilities subject to comprise:                       1,399,758

Non-Current Liabilities Not Subject to
  Compromise:
Long-term debt, net of current maturities                 84,751
Other non-current liabilities                             19,283
                                                    ------------
TOTAL LIABILITIES                                      2,381,041
                                                    ------------
STOCKHOLDERS' DEFICIT:                                  (792,738)
                                                    ------------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT:          $1,588,303
                                                    ============

             Tower Automotive, Inc., and Subsidiaries
                Unaudited Statement of Operations
                     September 1 to 30, 2006
                          (In Thousands)

Revenues                                                $119,112
Cost of sales                                            116,251
                                                    ------------
Gross profit                                               2,861

Selling, general and administrative expenses               6,452
Restructuring & asset impairment charges, net             10,021
Other operating income                                      (275)
                                                    ------------
Operating income (loss)                                  (13,337)

Interest expense                                           7,523
Interest income                                              (87)
Intercompany interest (income)/expense                    (2,502)
Chapter 11 and related reorganization items               93,386
                                                    ------------
Income (loss) before provision for income taxes,        (111,657)
  equity in eanings of joint ventures, and
  minority interest

Provision (benefit) for income taxes                         201
Income (loss) before equity in earnings of              (111,858)
  joint ventures
Equity in earnings of joint ventures, net of tax              (3)
                                                    ------------
NET INCOME/(LOSS)                                      ($111,861)
                                                    ============

             Tower Automotive, Inc., and Subsidiaries
                Unaudited Statement of Cash Flows
                     September 1 to 30, 2006
                          (In Thousands)

OPERATING ACTIVITIES:
Net loss                                               ($111,861)

Adjustments required to reconcile net loss
  to net cash provided by (used in)
  operating activities:

Chapter 11 & related reorganization items, net            90,363
Restructuring and asset impairment, net                    3,030
Depreciation                                               7,468
Equity in earnings of joint ventures, net                      3
Change in working capital & other operating items         14,190
                                                    ------------
Net cash provided by (used in) operating                   3,193
    activities:

INVESTING ACTIVITIES:
Cash disbursed for purchase of property,                  (4,931)
plant and equipment
                                                    ------------
Net cash used for investing activities                    (4,931)

FINANCING ACTIVITIES:
Proceeds from non-DIP borrowings                               -
Repayments of non-DIP borrowings                              (1)
Borrowings from DIP credit facility                       56,000
Repayments of borrowings from DIP facility               (32,500)
                                                    ------------
Net cash provided by (used in)
    financing activities                                  23,499
                                                    ------------
Net change in cash and cash equivalents                   21,761
                                                    ------------
Cash and Cash Equivalents, beginning of period            12,730
                                                    ------------
Cash and Cash Equivalents, end of period                 $34,491

Headquartered in Grand Rapids, Michigan, Tower Automotive, Inc.
-- http://www.towerautomotive.com/-- is a global designer and   
producer of vehicle structural components and assemblies used by
every major automotive original equipment manufacturer, including
BMW, DaimlerChrysler, Fiat, Ford, GM, Honda, Hyundai/Kia, Nissan,
Toyota, Volkswagen and Volvo.  Products include body structures
and assemblies, lower vehicle frames and structures, chassis
modules and systems, and suspension components.  The Company and
25 of its debtor-affiliates filed voluntary chapter 11 petitions
on Feb. 2, 2005 (Bankr. S.D.N.Y. Case No. 05-10576 through
05-10601).  James H.M. Sprayregen, Esq., Ryan B. Bennett, Esq.,
Anup Sathy, Esq., Jason D. Horwitz, Esq., and Ross M. Kwasteniet,
Esq., at Kirkland & Ellis, LLP, represent the Debtors in their
restructuring efforts.  Ira S. Dizengoff, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  When the Debtors filed for protection from
their creditors, they listed $787,948,000 in total assets and
$1,306,949,000 in total debts.  (Tower Automotive Bankruptcy News,
Issue No. 48; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


WERNER LADDER: Files Revised Sept. 2006 Monthly Operating Report
----------------------------------------------------------------
Werner Holding Co. Inc. and its Debtor-subsidiaries filed
with the U.S. Bankruptcy Court for the District of Delaware their
amended monthly operating report for September 2006.

The Debtors' MOR, submitted to the Court on Oct. 20, 2006,
has been revised to reflect an additional non-cash expense of
$1,082,000 related to an increase in the estimated liability for
workers' compensation claims incurred prior to June 12, 2006,
which was only identified after October 20.  The additional
estimated liability was recorded on the books of Werner Co.,
the Debtors' operating subsidiary.

The $1,082,000 additional non-cash expense affected these items
in the Consolidated Balance Sheet:

    -- reserve for product liability and workers' compensation
       claims increased by $1,082,000;

    -- total liabilities increased to $577,157,000;

    -- retained earnings/(deficit) increased to a deficit of
       $418,433,000; and

    -- shareholders' deficit increased to $414,478,000.

Revisions in the Consolidated Statement of Operations resulting
from the additional non-cash expense include:

     * costs of sales increased to $23,871,000,

     * operating loss increased to $4,663,000, and

     * consolidated net income reduced to $4,090,000.

The additional non-cash expense did not impact the previously
filed Consolidated Statement of Cash Flows.

        Werner Holding Co. (PA), Inc., and Subsidiaries
            Unaudited Consolidated Balance Sheet
                   As of September 30, 2006

ASSETS
Current Assets:
Cash and cash equivalents                            $18,643,000
Receivables, net                                      72,215,000
Income taxes receivable (payable)                        838,000
Inventories, net                                      67,656,000
Prepaid insurance and other                           10,794,000
                                                    ------------
Total current assets                                 170,146,000

Property, Plant & Equipment, Net                      75,377,000
Other assets:
Deferred financing fess, net                          11,328,000
Investment in subsidiaries                                     -
Other noncurrent assets                                7,510,000
                                                    ------------
Total other assets                                    18,838,000
                                                    ------------
TOTAL ASSETS                                        $264,361,000
                                                    ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable                                     $19,580,000
Accrued liabilities                                   31,965,000
Intercompany payable (receivables)                             -
First lien revolving credit facility                  39,101,000
Current maturities of long-term debt                 182,215,000
                                                    ------------
Total current liabilities                            272,861,000

Long-Term Liabilities:
Long-term debt                                        89,619,000
Reserve for product liability and
   workers' compensation claims                        7,018,000
Other long-term obligations                            2,409,000
Liabilities subject to compromise                    205,250,000
                                                    ------------
Total Liabilities                                    577,157,000

Convertible preferred stock                           99,518,000

Shareholders' Deficit:
Common stock                                               1,000
Additional paid-in-capital                            18,091,000
Retained earnings (deficit)                         (418,433,000)
Accumulated other comprehensive income (loss)        (11,776,000)
N/R arising from stock loan plan                        (197,000)
                                                    ------------
Total Shareholders Deficit                          (412,314,000)
                                                    ------------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT           $264,361,000
                                                    ============

        Werner Holding Co. (PA), Inc., and Subsidiaries
       Unaudited Consolidated Statement of Operations
                 September 1 to 30, 2006

Net sales                                            $29,054,000
Total cost of sales                                   23,871,000
                                                    ------------
Gross profit                                           5,183,000

Total operating expenses                               9,846,000
                                                    ------------
Operating income (loss)                               (4,663,000)

Equity in net income (loss) of subsidiaries                    -
Other income (expense), net                               (4,000)
                                                    ------------
Income (loss) before interest,
reorganization items and taxes                       (4,667,000)

Reorganization Items:
  Gain on Termination of Benefit Plan                 13,706,000
  (Restructuring Process Fees)                        (1,184,000)
  Interest Income                                         87,000
                                                    ------------
Reorganization Items, Net                             12,609,000
                                                    ------------
Interest (loss) before interest and taxes              7,942,000

Inter-company interest expense                                -
Interest expense                                       3,750,000
                                                    ------------
Income (loss) before income taxes                      4,192,000

Provision (benefit) for income taxes                     102,000
                                                    ------------
Net Income (Loss)                                     $4,090,000
                                                    ============

        Werner Holding Co. (PA), Inc., and Subsidiaries
          Unaudited Consolidated Statement of Cash Flows
                  September 1 to 30, 2006

Cash flows provided (used) by
  operating activities                               ($6,943,000)

Cash Flows From Investing Activities:
Capital expenditures, net                               (330,000)
Proceeds from sale of property                                 -
                                                    ------------
Net cash used in investing activities                   (330,000)

Cash Flows From Financing Activities:
Borrowings of long-term debt                                   -
Repayments of long-term debt                                   -
Capital lease payments                                         -
Net borrowings under first lien revolving
  credit facility                                              -
Debt issuance costs                                            -
                                                    ------------
Net cash provided (used) by financing activities               -
                                                    ------------

Net increase (decrease) in cash and equivalents       (7,273,000)

Cash and equivalents at September 1, 2006             25,916,000
                                                    ------------
Cash and equivalents at September 30, 2006           $18,643,000

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.  Greenberg
Traurig LLP is counsel to the Official Committee of Unsecured
Creditors.  Jefferies & Co serves as the Committee's 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. 12; 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
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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
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Monthly Operating Reports are summarized in every Saturday edition
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For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                             *********

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

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
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B. Delos Santos, Cherry A. Soriano-Baaclo, Ronald C. Sy, Jason A.
Nieva, Lucilo M. Pinili, Jr., Tara Marie A. Martin, and Peter A.
Chapman, Editors.

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

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