TCR_Public/070818.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Saturday, August 18, 2007, Vol. 11, No. 195

                             Headlines

ACCEPTANCE INSURANCE: Posts $7,332 Net Loss in July 2007
ADVANCED MARKETING: Posts $1,532,741 Net Loss in April 2007
CATHOLIC CHURCH: San Diego Files June 2007 Operating Report
DANA CORP: Earns $32,000,000 in Month Ended June 30, 2007
FEDERAL-MOGUL: Earns $2.6 Million in June 2007

INTERSTATE BAKERIES: Files Operating Report Ending June 30, 2007
SAINT VINCENT'S: Files June 2007 Operating Report
SEA CONTAINERS: Posts $849,219 Net Loss in June 2007

                             *********

ACCEPTANCE INSURANCE: Posts $7,332 Net Loss in July 2007
--------------------------------------------------------
Acceptance Insurance Companies Inc. filed its monthly operating
report for July 2007 with the United States Bankruptcy Court
for the District of Nebraska on Aug. 13, 2007.

The Debtor reported a net loss of $7,332 and revenue of 6,769   
for the month ended July 31, 2007.  

At July 31, 2007, Acceptance Insurance Companies Inc.'s balance
sheet showed:

        Total Current Assets                $1,558,184   
        Total Assets                        $35,003,326   
        Total Liabilities                   $138,276,493   
        Total Shareholders' Deficit         $103,273,167

A full-text copy of Acceptance Insurance Companies Inc.'s July
2007 Monthly Operating Report is available at no charge at:

              http://researcharchives.com/t/s?22ac

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. No Official Committee of Unsecured Creditors has been
appointed to date on this case. When the Debtor filed for
protection from its creditors, it listed $33,069,446 in total
assets and $137,120,541 in total debts. The Debtors' exclusive
period to file a plan expired on Aug. 9, 2007.


ADVANCED MARKETING: Posts $1,532,741 Net Loss in April 2007
-----------------------------------------------------------
Advanced Marketing Services Inc. and its debtor-affiliates filed a
copy of their Monthly Operating Report on July 25, 2007, contaning
a Balance Sheet as of April 27, 2007, and a Statement of
Operations for the month ended April 27.   

                            AMS Corp.
                          Balance Sheet
                      As of April 27, 2007

ASSETS
Current Assets
    Cash and Cash Equivalents                      $185,697
    Short-term Investments                       33,142,701
    Accounts Receivable, Net                              -
    Vendor & Misc. Receivables                   11,888,774
    Intercompany Receivables                     17,615,411

    Inventory                                    56,190,565
    Freight on Inventory                            556,522
    Inventory in Process, in Transit                      0
    Inventory Reserves                           (9,136,332)
                                                 ----------
    Inventory, Net                               47,610,756

    Deferred Income Tax                                   0
    Income Tax Receivable                                 0
    Prepaid Expenses                             10,569,741
                                                 ----------
Total Current Assets                            118,603,565

PROPERTY & EQUIPMENT
    Leasehold Improvements                                0
    Office Furniture & Equipment                          0
    Warehouse Equipment                                   0
    Autos                                                 0
                                                 ----------
Total Property & Equipment                                0

Accumulated Depreciation                                  0
                                                 ----------
Net Property & Equipment                                  0

Long-Term Investment                                 15,764
Goodwill & Other Assets                          12,926,756
                                                -----------
TOTAL ASSETS                                   $131,546,085
                                                ===========
LIABILITIES & STOCKHOLDER EQUITY
    Current Liabilities
    Accounts Payable                             $2,359,364
    Accrued Liabilities                          11,286,446
    Income Taxes Payable                            168,644
    Intercompany Payables                                 0
    Short-term Debt                                  (4,815)
                                                -----------
TOTAL CURRENT LIABILITIES                        13,809,639

    Long Term Liabilities                       168,600,491
                                                -----------
TOTAL LIABILITIES                               182,410,130

STOCKHOLDERS' EQUITY
    Common Stock @ Par Value                         23,350
    Additional Paid-in Capital                   13,368,311
    Common Stock Dividend                        (4,213,583)
    Deferred Compensation                                 0
    Retained Earnings - Prior Year              (36,367,490)
    Retained Earnings - Current Year             (1,532,744)
    Cumulative Other Comp. Income                  (585,519)
    Treasury Stock                              (21,556,370)
                                                -----------
TOTAL STOCKHOLDERS' EQUITY                      (50,864,045)
                                                -----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY     $131,546,085
                                                ===========

*** The Debtors report that for the month ended April 27,
    2007, they have $118,603,565 in Total Current Assets
    and $131,546,085 in Total Assets.  Actual computation of the
    figures, however, show that Total Current Assets aggregate
    $121,013,079, while Total Assets aggregate $133,955,599.

                            AMS Corp.
                     Statement of Operations
                    From April 1 to 27, 2007

GROSS SALES
    Invoiced Amount                                $719,226
    Stickering Revenue                                    0
    Service & Fee Revenue                             3,441
    Interco Revenue                                       0
    Total Sales Returns                          (1,177,963)
    Sales Returns Provision                               0
    Unprocessed Sales Returns                     4,873,652
                                               ------------
    Sales Less Returns Prov.                      4,418,357
                                               ------------
SALES DEDUCTIONS
    Cash Discount Provision                               0
    New Store Allowance                                   0
    Customer Rebates                                      0
    Co-op Allowance                                       0
    Misc. Allowance & Adjustment                        157
    Sales Commissions                                   128
                                               ------------
    Total Sales Deductions                              285
                                               ------------
NET SALES                                         4,418,071
                                               ------------
COST OF NET SALES
    Standard Cost of Sales                        1,379,453
    Interco Cost of Sales                                 0
    Standard Cost of Returns                     (1,513,766)
    Standard Cost of Returns Provision                    0
    Standard Cost of Returns - Unprocessed        4,062,101
    Purchase Variance, Revaluation                  375,864
    Return to Publisher Variance                     (7,142)
    Freight In Costs of Sales                        39,277
    Freight - AGL                                    20,068
    Freight Customer Returns                          4,127
    Freight -Return to Publisher                     10,649
    Freight Warehouse Transfer                        4,184
    Quantity Adjustments                         (1,463,160)
    Markdown Expense                                      0
    Publisher Incentive                                   0
    Publisher Account Settlements                         0
    Other Costs of Sales                                  0
                                               ------------
    Total Cost of Sales                           2,911,657
                                               ------------
GROSS PROFIT                                      1,506,415
                                               ------------

VARIABLE EXPENSES
    Freight Sales Shipments                          36,181
    Freight - Special Shipments                           0
    Shipping Supplies and Service                    87,572
    Payroll DC operations                           377,767
    Distribution Fees                                     0
                                               ------------
    Total Variable Expenses                         501,520
                                               ------------
VARIABLE PROFIT MARGIN                            1,004,895
                                               ------------

FIXED EXPENSE
    Payroll (excl. DC Oper.)                        712,990
    Travel & Entertainment                            7,076
    Professional Services                             3,150
    Information Services                             20,739
    Office Equipment & Supplies                      22,457
    Telephone Expense                                 3,732
    Facility Occupancy                              438,718
    General Insurance                                     0
    Depreciation                                          0
    Uncollectible Accounts                                0
    Customer Service                                    365
    Promotion Expense                                   221
    Express Mail & Postage                            1,720
    Training & Education                                  0
    Exchange Gain/Loss                                    0
    Miscellaneous Expense                           113,855
    Shareholder's Relations                           2,029
    Co-op Advertising Exp/Inc                             0
    Miscellaneous Income                            (24,637)
    Warehouse Equipment                              13,674
                                               ------------
    Total Fixed Expenses                          1,316,087
                                               ------------

OPERATING INCOME:                                  (311,192)

Interest Expense                                          7
Interest Income                                    (117,254)
Equity in Inc/Loss of Affiliates                          0
Other Non-operating Expenses                      1,338,796
                                               ------------
NON-OPERATING INCOME                              1,221,549
                                               ------------
INCOME BEFORE INC TAX                            (1,532,741)

Tax Provision                                            00
                                               ------------
NET INCOME                                      ($1,532,741)
                                               ============

Based in San Diego, Calif., Advanced Marketing Services, Inc.
-- http://www.advmkt.com/-- provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry.  The company has operations in the
U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group Incorporated
and Publishers Group West Incorporated filed for chapter 11
protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos. 06-11480
through 06-11482).  Suzzanne S. Uhland, Esq., Austin K. Barron,
Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers, LLP,
represent the Debtors as Lead Counsel.  Chun I. Jang, Esq., Mark
D. Collins, Esq., and Paul Noble Heath, Esq., at Richards, Layton
& Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  When the Debtors filed for protection from
their creditors, they listed estimated assets and debts of more
than $100 million.

The Debtors have until Sept. 26, 2007 to exclusively file a plan.
(Advanced Marketing Bankruptcy News, Issue No. 15 Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or   
215/945-7000).


CATHOLIC CHURCH: San Diego Files June 2007 Operating Report
-----------------------------------------------------------

                      Diocese of San Diego
                 Statement of Financial Position
                       As of June 30, 2007

ASSETS

Cash and cash equivalents                            $21,174,239
Funds on deposit with administrative offices:
   Perpetual Care Funds                                        -
   Funds on deposit                                            -
   Other funds on deposit                                      -
Marketable securities                                 39,695,004
Accounts receivable, net of allowance
   Parishes and School                                 1,048,425
   PSDL Trust                                            598,788
   Diocesan Admin Office for Mater Dei                    65,120
   Cemetery trade                                      4,290,157
   Tuition, fees and others                              185,173
   Juan Diego Trust                                      127,206
Notes and other receivables                               74,307
Pooled Income Funds                                    1,659,419
Planned gifts receivable                                 354,650
Prepaid expenses                                          37,099
Inventory                                                 18,788
Loan to parishes, net                                          -
Pledges receivable $102,719 allowance                  1,951,665
Demand note receivable - CSE                                   -
Revisionary Interest in CSE                           65,000,000
Property and equipment, net                           21,334,241
Other land and buildings, net
   Cemetery inventory - graves, crypts & niches        6,605,634
   Cemetery undeveloped land & outside property        1,544,557
   Mater Dei land and land improvements               13,819,408
   Mater Dei buildings                                52,938,154
   Oceanside land and land improvements                5,551,042
Other assets                                                   -
                                                  --------------
Total Assets                                        $238,073,074
                                                  ==============

LIABILITIES AND NET ASSETS

Liabilities:
   Accounts payable and accrued liabilities           $3,575,119
   Special collections                                    53,053
   Accrued vacation                                      341,140
   Accrued Chapter 11 Fees                             2,010,604
   Construction loan - ALSAM Foundation               38,620,000
   Payable to PSDL Trust                              23,396,735
   Funds on deposit:
      Parish and school funds & endowments             1,171,839
      Perpetual Care Funds                                     -
      Restricted funds on deposit                              -
      Other diocesan entities funds                       33,383
   Reserve for worker's compensation claims            1,604,473
   Priest retirement plan liability                    1,952,635
   Annuity Payment Liability                             609,614
   Liability under Unitrust Agreement                    205,044
   Planned gifts liability                                     -
   Deferred revenue:
      Annual Catholic Appeal                                   -
      Discount on Future Interest                        106,875
      Cemetery                                         3,244,156
      Tuition and other fees                             853,909
      Other                                                6,621
                                                  --------------
   Total liabilities                                  77,785,199
                                                  --------------
Net Assets:
   Unrestricted:
      Undesignated                                   112,958,184
      Insurance reserve funds                          7,194,102
      Bishop's burse                                   1,322,357
      Designated funds                                   319,936
      Property and equipment                          16,607,981
                                                  --------------
   Total unrestricted                                138,402,561

   Temporarily restricted                             13,534,960
   Permanently restricted                              8,350,355
                                                  --------------
   Total net assets                                  160,287,875
                                                  --------------
   Total liabilities and net assets                 $238,073,074
                                                  ==============


                      Diocese of San Diego
                     Statement of Activities
               For the month ending June 30, 2007

Support and revenue:
   Parish assessments                                   $621,687
   Donations and fund-raising                          2,465,033
   Investment income                                    (501,058)
   Interest and other income                              37,304
   Parish & employee insurance reserve funds, net              -
   Rental income                                          15,745
   Administrative fees                                   (71,290)
   Gain on sale of property                                    -
   Cemetery sales                                        263,666
   Tuition, net of tuition assistance                    664,711
   Student and other fees                                  3,736
   San Juan Diego English language center                199,925
   Concessions/food service                               11,732
   Change in value of split-interest agreements           39,090
   Other                                                  96,766
                                                  --------------
Total support and revenue                              3,847,047

Expenses:
   Administrative fees                                   198,393
   Programs                                              611,132
   Annual Catholic Appeal                                 42,067
   Distribution of restricted donations                  183,903
   Cemetery cost of sales                                 44,252
   San Juan Diego English language center                    156
   General:
      Contributions and charitable programs               41,696
      Schools dept. - support for schools                184,914
      Interest expense
         Funds on deposit                                  5,930
         Other                                            (4,624)
      Depreciation                                       (31,705)
      Bad debt expense                                         -
      Recruiting, advertising & public relations           4,543
      Student related expenses                            65,047
      Concessions/food service                            13,727
      Athletics                                            8,313
      Development/special events                               -
      Operating expenses                                 514,423
      Chaplaincies and ministries                         62,030
      Assessments                                         18,294
      Professional fees                                3,919,963
      Chapter 11 fees
         Legal fees                                            -
         UST fees                                              -
         Accounting fees                                       -
      Insurance                                          165,957
      Other                                                 (670)
                                                  --------------
Total Expenses                                         6,075,954

   Funds released from restricted funds                   31,283
   Net change in designated funds                         (3,070)
                                                  --------------
                                                          28,213
                                                  --------------
Increase (decrease) in net assets                     (2,228,907)
                                                  --------------
Net assets:
   Beginning of month                                162,516,782
                                                  --------------
   End of month                                     $160,287,875
                                                  ==============


                      Diocese of San Diego
                 Cash Receipts and Disbursement
               For the month ending June 30, 2007

Beginning balance, 02/28/2007                        $13,418,282

Total receipts - prior general account reports        18,086,437
Less: total disbursements                              9,547,958
                                                  --------------
Beginning balance, 05/31/2007                         21,956,760

Receipts during current period:
   Transfers from main account                            50,000
   Transfers from Vincent memorial savings                     -
   Accounts receivable - pre-filing                      215,985
   Accounts receivable - post-filing                          78
   Accounts receivable - assessments pre-filing            2,488
   Accounts receivable - assessments post-filing         603,140
   Other receivables                                       3,305
   Planned gifts collection                              343,929
   Receipts - health premiums                            874,766
   Annual Catholic Appeal                                166,937
   Interest                                                6,199
   Dividends                                                 185
   Stock Clearing                                         12,000
   Workers' compensation premium                         163,813
   ACA through AR                                          1,000
   Miscellaneous                                           1,043
   Tribunal income                                         8,010
   Southern Cross income                                  29,022
   Programs and ministries                               447,830
   Registration and tuitions                             590,384
   Insurance                                              77,087
   Realized gains                                          7,950
   Receipts \u2013 medical reimbursements                223,000
   Parish and school funds & endowments                  267,302
   Other Diocesan locations' deposits                    393,711
   Mater Dei Owners' contingency reserve                  51,905
   Stock processing                                       88,872
   Special collections                                    10,221
   Athletics                                               1,362
   Concessions and store sales                             9,126
   Restricted account receipts                             1,115
   Donations                                             209,944
                                                  --------------
Total receipts                                         5,001,720

Balance                                               26,958,480

Less: Total disbursements during current period
   Transfers to Pastoral Services Main Checking          228,614
   Transfers to Priest Health Account                     50,000
   Transfers to payroll account                          359,558
   Transfers to Vincent Memorial Checking                152,000
   Administrative                                         13,932
   A/R CES                                                   663
   Athletics                                               5,247
   Bank fees and charges                                   6,538
   Stock                                                 367,393
   Conferences                                           104,564
   Utility Deposits                                        1,794
   Dues/Fees                                               8,184
   Education expenses                                    149,516
   Employee benefits                                       4,800
   FF&E                                                  493,634
   Health insurance and benefits                          53,359
   Health insurance claims paid                           77,225
   Health insurance premiums paid                        922,265
   Lay salaries and wages                                410,767
   Loan payments                                          80,000
   Liability insurance                                     4,813
   Maintenance/Repairs                                    16,748
   Medical reimbursements                                 12,472
   Ministries                                             49,035
   Miscellaneous                                          29,922
   Supplies                                               21,702
   Operations                                            193,204
   Payroll                                                65,110
   Postage                                                 3,562
   Professional fees                                     703,143
   Printing                                               26,234
   Rent                                                   12,120
   Restricted                                            212,086
   Workers' comp - prefunds and losses                   110,223
   Special collections                                   344,467
   Unemployment insurance program                         44,403
   Stipends/Services                                      62,457
   Withdrawal from funds on deposit                        4,750
   Utilities                                              14,282
   Voids                                                    (745)
                                                  --------------
                                                       5,420,058
                                                  --------------
Ending balance                                       $21,538,422
                                                  ==============

*** San Diego reports that for the month ended June 30, 2007,  
    the Diocese's total receipts aggregate $5,001,720.  Actual
    computation of the figures, however, show that Total Receipts
    aggregate $4,861,720.

                  About the San Diego Diocese

The Roman Catholic Diocese of San Diego in California --
http://www.diocese-sdiego.org/-- employs approximately
3,000 people in various areas of work.  The Diocese filed for
Chapter 11 protection just before commencement of the first of
court proceedings for 140 sexual abuse lawsuits filed against the
Diocese.  Authorities of the San Diego Diocese said they were not
in favor of litigating their cases.

The San Diego Diocese filed for chapter 11 protection on Feb. 27,
2007 (Bankr. S.D. Calif. Case No. 07-00939).  Gerald P. Kennedy,
Esq., at Procopio, Cory, Hargreaves and Savitch LLP, represents
the Diocese.  In its schedules of assets and liabilities, the
Diocese listed total assets of $152,510,888 and total liabilities
of $72,754,092.  On March 27, 2007, the Debtor filed its plan and
disclosure statement.  (Catholic Church Bankruptcy News, Issue
No. 99; Bankruptcy Creditors' Service Inc.
http://bankrupt.com/newsstand/or 215/945-7000).


DANA CORP: Earns $32,000,000 in Month Ended June 30, 2007
---------------------------------------------------------

                          Dana Corporation
                 Unaudited Condensed Balance Sheet
                          At June 30, 2007

ASSETS

CURRENT ASSETS
   Cash and cash equivalent assets               $1,001,000,000
   Accounts receivable
      Trade                                       1,411,000,000
      Other                                         297,000,000
   Inventories                                      773,000,000
   Assets of discontinued operations                194,000,000
   Other current assets                             141,000,000
                                               ----------------
      Total current assets                        3,817,000,000
                                               ----------------
Investments and other assets                      1,006,000,000
Investments in equity affiliates                    433,000,000
Net property, plant and equipment                 1,731,000,000
                                               ----------------
TOTAL ASSETS                                     $6,987,000,000
                                               ================

LIABILITY AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES
   DIP Financing                                   $900,000,000
   Notes payable, including current portion
      of long-term debt                              36,000,000
   Accounts payable                               1,145,000,000
   Liabilities of discontinued operations            96,000,000
   Other accrued liabilities                        830,000,000
                                               ----------------
Total current liabilities                         3,007,000,000
                                               ----------------
Liabilities subject to compromise                 3,978,000,000
Deferred employee benefits and other
   non-current liabilities                          472,000,000
Long-term debt                                       13,000,000
Minority interest in consolidated subsidiaries       92,000,000
Shareholder' equity (deficit)                      (575,000,000)
                                               ----------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY       $6,987,000,000
                                               ================


                          Dana Corporation
             Unaudited Condensed Statement of Operations
                 For the Month Ended June 30, 2007

Net Sales                                          $793,000,000
Costs and expenses
   Costs of sales                                   732,000,000
   Selling, general and administrative expenses      29,000,000
   Realignment charges                              (14,000,000)
   Other income, net                                 (8,000,000)
                                               ----------------
Income (loss) from operations                        38,000,000
Interest expense                                      7,000,000
Reorganization charges                               16,000,000
                                               ----------------
Income (loss) before income taxes                    15,000,000
Income tax (expense) benefit                        (26,000,000)
Minority interest                                     1,000,000
Equity in earnings of affiliates                      6,000,000
                                               ----------------
Income (loss) before continuing operations           46,000,000
Income (loss) from discontinued operations          (14,000,000)
                                               ----------------
Net income (loss)                                   $32,000,000
                                               ================


                          Dana Corporation
             Unaudited Condensed Statement of Cash Flow
                 For the Month Ended June 30, 2007

OPERATING ACTIVITIES
Net income (loss)                                   $32,000,000
Depreciation and amortization                        22,000,000
Loss on sale of business                             10,000,000
Non-cash portion of U.K. pension charge              (8,000,000)
Decrease (increase) in working capital              (16,000,000)
Unremitted equity earnings in affiliates             (7,000,000)
Other                                               (48,000,000)
                                               ----------------
Net cash flow provided by
(used for) operating activities                     (15,000,000)

INVESTING ACTIVITIES
Purchases of property, plant and equipment          (26,000,000)
Proceeds from sale of assets                          2,000,000
Other                                                (9,000,000)
                                               ----------------
Net cash flow provided by
(used for) operating activities                     (33,000,000)

FINANCING ACTIVITIES
Net change in short-term debt                       (11,000,000)
Proceeds from DIP facility                                    -
                                               ----------------
Net cash flow provided by
(used for) financing activities                     (11,000,000)

Net increase in cash equivalents                    (59,000,000)
                                               ----------------
Cash and cash equivalents, beginning of period    1,060,000,000
                                               ----------------
Cash and cash equivalents, end of period         $1,001,000,000
                                               ================

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- (OTC
Bulletin Board: DCNAQ) 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).  As of Sept. 30,
2005, the Debtors listed $7,900,000,000 in total assets and
$6,800,000,000 in total debts.

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.

The Debtors' exclusive period to file a plan expires on Sept. 3,
2007.  They have until Nov. 2, 2007, to solicit acceptances of
that plan.  (Dana Corporation Bankruptcy News, Issue No. 49;
Bankruptcy Creditors' Service, Inc., 215/945-7000).


FEDERAL-MOGUL: Earns $2.6 Million in June 2007
----------------------------------------------

                Federal-Mogul Global, Inc., et al.
                     Unaudited Balance Sheet
                       As of June 30, 2007
                          (In millions)

                              Assets

Cash and equivalents                                      $79.8
Accounts receivable                                       651.1
Inventories                                               401.4
Deferred taxes                                            192.3
Prepaid expenses and other current assets                 103.4
                                                       --------
Total current assets                                    1,428.0

Summary of Unpaid Postpetition Debits                     (48.0)
Intercompany Loans Receivable (Payable)                 1,678.9
                                                       --------
Intercompany Balances                                   1,630.9

Property, plant and equipment                             776.6
Goodwill                                                  930.4
Other intangible assets                                   341.4
Insurance recoverable                                     873.7
Other non-current assets                                  521.2
                                                       --------
Total Assets                                           $6,502.2
                                                       ========

               Liabilities and Shareholders' Equity

Short-term debt                                          $693.0
Accounts payable                                          259.9
Accrued compensation                                       56.6
Restructuring and rationalization reserves                 17.6
Current portion of asbestos liability                         -
Interest payable                                            3.8
Other accrued liabilities                                 285.0
                                                       --------
Total current liabilities                               1,315.9

Long-term debt                                                -
Post-employment benefits                                  734.5
Other accrued liabilities                                 546.5
Liabilities subject to compromise                       5,452.6

Shareholders' equity:
   Preferred stock                                      1,050.6
   Common stock                                           662.1
   Additional paid-in capital                           8,026.0
   Accumulated deficit                                (11,442.8)
   Accumulated other comprehensive income                 156.8
   Other                                                      -
                                                       --------
Total Shareholders' Equity                             (1,547.2)
                                                       --------
Total Liabilities and Shareholders' Equity             $6,502.2
                                                       ========


                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Operations
                For the Month Ended June 30, 2007
                          (In millions)

Net sales                                                $275.5
Cost of products sold                                     214.1
                                                       --------
Gross margin                                               61.3

Selling, general & administrative expenses                (41.5)
Amortization                                               (1.2)
Reorganization items                                       (6.4)
Interest income (expense), net                            (14.9)
Other income (expense), net                                 5.6
                                                       --------
Earnings before Income Taxes                                3.0

Income Tax (Expense) Benefit                               (0.4)
                                                       --------
Earnings before cumulative effect of change
   in accounting principle                                  2.6
                                                       --------
Net Earnings (loss)                                        $2.6
                                                       ========


                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Cash Flows
                For the month ended June 30, 2007
                          (In millions)

Cash Provided From (Used By) Operating Activities:
   Net earning (loss)                                      $2.6
Adjustments to reconcile net earnings (loss) to net cash:
   Depreciation and amortization                           12.5
   Adjustment of assets held for sale and
      other long-lived assets to fair value                   -
   Asbestos charge                                            -
   Summary of unpaid postpetition debits                      -
   Cumulative effect of change in acctg. principle            -
   Change in post-employment benefits                      (1.5)
   Decrease (increase) in accounts receivable               4.1
   Decrease (increase) in inventories                       6.9
   Increase (decrease) in accounts payable                 22.0
   Change in other assets & other liabilities              25.2
   Change in restructuring charge                             -
   Refunds (payments) against asbestos liability              -
                                                       --------
Net Cash Provided From Operating Activities                71.7

Cash Provided From (Used By) Investing Activities:
   Expenditures for property, plant & equipment            (5.4)
   Proceeds from sale of property, plant & equipment          -
   Proceeds from sale of businesses                           -
   Business acquisitions, net of cash acquired                -
   Other                                                      -
                                                       --------
Net Cash Provided From (Used By) Investing Activities      (5.4)

Cash Provided From (Used By) Financing Activities:
   Increase (decrease) in debt                            (54.0)
   Sale of accounts receivable under securitization           -
   Dividends                                                  -
   Other                                                    0.6
                                                       --------
Net Cash Provided From Financing Activities               (53.4)

Increase (Decrease) in Cash and Equivalents                12.9

Cash and equivalents at beginning of period                66.8
                                                       --------
Cash and equivalents at end of period                     $79.8
                                                       ========

Headquartered in Southfield, Mich., Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is an automotive parts company   
with worldwide revenue of some $6 billion.  Federal-Mogul also has
operations in Mexico and the Asia Pacific Region, which includes,
Malaysia, Australia, China, India, Japan, Korea, and Thailand.

The Company filed for chapter 11 protection on Oct. 1, 2001
(Bankr. Del. Case No. 01-10582).  Lawrence J. Nyhan Esq., James F.
Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin Brown &
Wood, and Laura Davis Jones Esq., at Pachulski, Stang, Ziehl,
Young, Jones & Weintraub, P.C., represent the Debtors in their
restructuring efforts.  When the Debtors filed for protection from
their creditors, they listed $10.15 billion in assets and
$8.86 billion in liabilities.  Federal-Mogul Corp.'s U.K.
affiliate, Turner & Newall, is based at Dudley Hill, Bradford.
Peter D. Wolfson, Esq., at Sonnenschein Nath & Rosenthal; and
Charlene D. Davis, Esq., Ashley B. Stitzer, Esq., and Eric M.
Sutty, Esq., at The Bayard Firm represent the Official Committee
of Unsecured Creditors.

On March 7, 2003, the Debtors filed their Joint Chapter 11 Plan.
They submitted a Disclosure Statement explaining that plan on
April 21, 2003.  They submitted several amendments and on June 6,
2004, the Bankruptcy Court approved the Third Amended Disclosure
Statement for their Third Amended Plan.  On July 28, 2004, the
District Court approved the Disclosure Statement.  The estimation
hearing began on June 14, 2005.  They then submitted a Fourth
Amended Plan and Disclosure Statement on Nov. 21, 2006, and the
Bankruptcy Court approved that Disclosure Statement on Feb. 6,
2007.  The confirmation hearing on the Plan is set to conclude on
Oct. 1, 2007.  (Federal-Mogul Bankruptcy News, Issue No. 145;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000).


INTERSTATE BAKERIES: Files Operating Report Ending June 30, 2007
----------------------------------------------------------------

        Interstate Bakeries Corporation and Subsidiaries
         Unaudited Consolidated Monthly Operating Report
                 Four Weeks Ended June 30, 2007

REVENUE

Gross Income                                        $237,073,331
Less Cost of Goods Sold
   Ingredients, Packaging & Outside Purchasing        58,631,493
   Direct & Indirect Labor                            41,282,066
   Overhead & Production Administration               12,350,799
                                                   -------------
      Total Cost of Goods Sold                       112,264,358
                                                   -------------
          Gross Profit                               124,808,973
                                                   -------------
OPERATING EXPENSES

Owner-Draws/Salaries                                           -
Selling & Delivery Employee Salaries                  53,481,654
Advertising and Marketing                              2,726,255
Insurance (Property, Casualty, & Medical)             12,266,408
Payroll Taxes                                          4,599,731
Lease and Rent                                         3,117,976
Telephone and Utilities                                  999,136
Corporate Expense (Including Salaries)                 6,312,700
Other Expenses                                        29,460,579
                                                   -------------
     Total Operating Expenses                        112,964,439
                                                   -------------
EBITDA                                               112,964,439

Restructuring & Reorganization Charges                 1,783,987
Depreciation and Amortization                          5,239,532
Abandonment                                                    -
Other( Income)/Expense                                     8,456
Gain/Loss Sale of Property                                     -
Interest Expense                                       3,732,318
                                                   -------------
     Operating Income (Loss)                           1,080,241
Income Tax Expense (Benefit)                              28,086
                                                   -------------
NET Income (Loss)                                     $1,052,155
                                                   =============

CURRENT ASSETS
   Accounts Receivable at end of period             $150,209,734
   Increase (Dec.) in Accounts Receivable             (1,964,971)
   Inventory at end of period                         66,274,121
   Increase (Decrease) in Inventory for period           591,611
   Cash at end of period                              63,629,571
   Increase (Decrease) in Cash for period              3,582,410
   Restricted Cash                                    15,085,316
   Increase (Dec.) in Restricted Cash for period               -

LIABILITIES
   Increase (Decrease) in Liabilities
      Not Subject to Compromise                       (7,789,150)
   Increase (Decrease) in Liabilities
      Subject to Compromise                              186,787
   Taxes payable:
      Federal Payroll Taxes                            5,029,289
      State/Local Payroll Taxes                        2,477,676
      State Sales Taxes                                  692,618
      Real Estate and Personal Property Taxes          7,650,529
      Other                                            3,792,666
                                                   -------------
      Total Taxes Payable                            $19,642,778
                                                   =============

Headquartered in Kansas City, Missouri, Interstate Bakeries
Corporation is a wholesale baker and distributor of fresh-baked
bread and sweet goods, under various national brand names,
including Wonder(R), Baker's Inn(R), Merita(R), Hostess(R) and
Drake's(R).  Currently, IBC employs more than 25,000 people and
operates 45 bakeries, as well as approximately 800 distribution
centers and approximately 800 bakery outlets throughout the
country.

The company and seven of its debtor-affiliates filed for
chapter 11 protection on Sept. 22, 2004 (Bankr. W.D. Mo. Case No.
04-45814).  J. Eric Ivester, Esq., and Samuel S. Ory, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP represent the Debtors in
their restructuring efforts.  When the Debtors filed for
protection from their creditors, they listed $1,626,425,000 in
total assets and $1,321,713,000 (excluding the $100,000,000 issue
of 6.0% senior subordinated convertible notes due August 15, 2014)
in total debts.  

The Debtors' exclusive period to file a chapter 11 plan expires on
Oct. 5, 2007.  (Interstate Bakeries Bankruptcy News, Issue No. 65;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/  
or 215/945-7000).


SAINT VINCENT'S: Files June 2007 Operating Report
-------------------------------------------------

                          SVCMC Debtors
              Unaudited Consolidated Balance Sheet
                       As of June 30, 2007

ASSETS
Cash & Cash Equivalents                             $6,304,821
Investments                                                  -
Patients Accounts Receivable, less allowance
   for doubtful accounts                            61,691,255
Accounts Receivable                                 39,694,932
Other Current Assets                                21,722,973
Assets Held for Sale                                11,162,322
                                                --------------
   Total Current Assets                            140,576,303

Depreciation Reserve Funds & Collaterized Assets     7,451,269
Assets Designated for Self-Insurance
   Investments at Market                            48,963,203
Assets whose use is limited -
   Investments at Market                            59,228,172
Other Non-Current Assets                            14,299,271

Land, Buildings & Equipment, net of
   Accumulated Depreciation                        118,346,084
                                                --------------
    Total Assets                                  $388,864,302
                                                ==============

LIABILITIES AND NET ASSETS
Liabilities Not Subject to Compromise:
   Long-term Debt                                  $88,719,621
   Long-term Debt (GE)                              85,852,842
   Accounts Payables & Accrued Expenses            134,520,084
   Accrued Salaries & Payroll Taxes Withheld        34,419,683
   Estimated Retroactive Payables                   86,872,962
   Other Non-current Liabilities                    62,236,747
                                                 -------------
   Total Liabilities Not Subject to Compromise     492,621,939

Liabilities Subject to Compromise:
   Liabilities Subject to Compromise               454,886,760
                                                --------------
   Total Liabilities Subject to Compromise         454,886,760
                                                --------------
   Total Liabilities                               947,508,699

Net Assets:
   Unrestricted                                   (617,584,535)
   Temporarily Restricted                           34,220,509
   Permanently Restricted                           24,719,629
                                                --------------
   Total Net Assets                               (558,644,397)
                                                --------------
   Total Liabilities & Net Assets                 $388,864,302
                                                ==============


                          SVCMC Debtors
             Unaudited Consolidated Income Statement
                     From June 1 to 30, 2007

Operating Revenue
   Inpatient                                       $32,056,544
   Outpatient                                       20,261,801
                                                --------------
      Patient Service Revenue                       52,318,345
                                                --------------
   Less Provision for Bad Debt                       2,469,087
                                                --------------
      Net Patient Service Revenue                   49,849,258
                                                --------------
   Pool Revenue                                      1,498,655
   Capitation                                        8,010,851
   Other                                             8,138,633
                                                --------------
   Total Operating Revenue                          67,497,397

Operating Expenses:
   Salaries and Wages                               24,853,109
   Fringe Benefits                                   6,810,614
   Supplies and Other                               26,775,611
   Insurance                                         1,494,234
                                                --------------
   Total Direct Operating Costs                     59,933,568

   Salaries and Wages                                        0
   Fringe Benefits                                           0
   Supplies and Other                                        0
                                                --------------
   Total Corporate Allocated                         1,644,957
                                                --------------
   Total Operating Expense                          61,578,525
                                                --------------
Interest                                             1,389,967
Depreciation                                         1,532,231
                                                --------------
   Operating Gain (Loss) Before
      Non-Recurring and/or Unusual Items             2,996,674

Non-Recurring and/or Unusual Items:
   Discontinued Operations (St. Mary's)                      0
   St. Mary's Op Pac Rate Adjustment                         0
   ZBEC/HFE Recoveries                                       0
   Restructuring & Bankruptcy Related Costs         (3,026,566)
   Estimated Close-out of St. Mary's                         0
   Hanys Investment Income (SFS INS)                         0
   Prior Period Ambulance Revenue                            0
   Transfer of Equity Foundation                             0
                                                --------------
   Total Non-Recurring and/or Unusual Items         (3,026,566)
                                                --------------
   Operating Gain (Loss) After
      Non-Recurring and/or Unusual Items               (29,892)
                                                --------------
Non-Operating Revenue                               (2,614,950)
Change in Temporary Restricted Net Assets             (250,204)
                                                --------------
   Change in Net Assets                            ($2,895,046)
                                                --------------
   EBITDA                                           $5,918,872
                                                ==============

                          SVCMC Debtors
                Unaudited Statement of Cash Flows
                      From June 1 to 30, 2007

Cash Flows from Operation Activities:
   Changes in Net Assets                           ($2,895,046)

Adjustments to Reconcile Changes in Net Assets
   to Net Cash Provided by Operating Activities:
   Depreciation & Amortization                       1,532,231
   Change in Unrealized Gains & Losses               3,157,069
   Change in Patient's Accounts Receivable            (941,285)
   Change in Accounts Receivables, Other               102,758
   Change in Prepaid Expenses & Other                 (278,774)
   Change in Other Non-Current Assets                1,670,864
   Change in Accounts Payable & Accrued
      Expenses - Prepetition                                 -
   Change in Accounts Payable & Accrued
      Expenses - Postpetition                       12,534,981
   Change in Accrued Salaries & P/R Taxes           (2,921,385)
   Change in Est. Retro rec/pay
      from/to third parties                          1,834,810
   Change in Est. Liability for self-insurance               -
   Change in Other Non-Current Liabilities          (2,271,244)
                                                --------------
   Net Cash Provided by Operating Activities        11,524,979

Cash flows From Investment Activities:
   Sale of Investments, Net                            (20,463)
   Sale of Assets Whose Use is Limited               1,127,524
   Acquisition/Sale of Land, Building,
      & Equipment                                   (2,893,184)
                                                --------------
   Net Cash Provided by Investing Activities        (1,786,123)

Cash flows From Financing Activities:
   Proceeds/Repayment From/of Working Capital Loa            0
   Proceed from issuance of Long-term debt                   0
   Repayment of Long-term debt                      (9,605,271)
                                                --------------
   Net Cash (Used) in Financing Activities          (9,605,271)

   Net Increase (Decrease)
      in Cash & Cash Equivalents                       133,585

   Cash & Cash Equivalents at Beginning of Month     6,171,236
                                                --------------
   Cash & Cash Equivalents at End of the Month      $6,304,821
                                                ==============

Based in New York City, Saint Vincent's Catholic Medical Centers
of New York -- http://www.svcmc.org/-- the healthcare provider in
New York State, operates hospitals, health centers, nursing homes
and a home health agency.  The hospital group consists of seven
hospitals located throughout Brooklyn, Queens, Manhattan, and
Staten Island, along with four nursing homes and a home health
care agency.

The company and six of its affiliates filed for chapter 11
protection on July 5, 2005 (Bankr. S.D.N.Y. Case No. 05-14945
through 05-14951).  Gary Ravert, Esq., and Stephen B. Selbst,
Esq., at McDermott Will & Emery, LLP, filed the Debtors' chapter
11 cases.  On Sept. 12, 2005, John J. Rapisardi, Esq., at Weil,
Gotshal & Manges LLP took over representing the Debtors in their
restructuring efforts.  Martin G. Bunin, Esq., at Thelen Reid &
Priest LLP, represents the Official Committee of Unsecured
Creditors.  As of Apr. 30, 2005, the Debtors listed $972 million
in total assets and $1 billion in total debts.  The Debtors filed
their Chapter 11 Plan of Reorganization accompanying a disclosure
statement explaining that Plan on Feb. 9, 2007.  On June 1, 2007,
the Debtors filed an Amended Plan & Disclosure Statement.  The
Court confirmed the Debtors' Amended Plan on July 27, 2007.  
(Saint Vincent Bankruptcy News, Issue No. 61  Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or   
215/945-7000).


SEA CONTAINERS: Posts $849,219 Net Loss in June 2007
----------------------------------------------------

                      Sea Containers, Ltd.
                    Unaudited Balance Sheet
                      As of June 30, 2007

                           Assets

Current Assets
   Cash and cash equivalents                    $21,917,537
   Trade receivables, less allowances
     for doubtful accounts                                -
   Due from related parties                       7,887,164
   Prepaid expenses and other current assets      1,816,838
                                                -----------
      Total current assets                      $31,621,539

Fixed assets, net                                         -

Long-term equipment sales receivable, net                 -
Investments in group companies                            -
Intercompany receivables                                  -
Investment in equity ownership interests        221,500,710
Other assets                                      2,851,462
                                               ------------
Total assets                                   $255,973,711
                                               ============

           Liabilities and Shareholders' Equity

Current Liabilities
   Accounts payable                              $1,811,626
   Accrued expenses                              51,316,736
   Current portion of long-term debt             25,855,028
   Current portion of senior notes              385,266,750
                                               ------------
      Total current liabilities                 464,210,140

Total shareholders' equity                     (208,276,429)
                                               ------------
Total liabilities and shareholders' equity     $255,973,711
                                               ============


                     Sea Containers, Ltd.
               Unaudited Statement of Operations
               For the Month Ended June 30, 2007

Revenue                                          $2,844,000

Costs and expenses:
   Operating costs                                   27,199
   Selling, general and
     administrative expenses                     (2,770,759)
   Professional fees                               (427,740)
   Charges to provide against
     intercompany accounts                        2,584,215
   Depreciation and amortization                          -
                                               ------------
Total costs and expense                           (587,085)
                                               ------------

Gain or (Loss) on sale of assets                     30,000
                                               ------------
Operating income (loss)                           2,286,915

Other income (expense)
   Interest income                                   82,868
Foreign exchange gains or (losses)                  16,942
Interest expense, net                           (3,135,944)
                                               ------------
Income (Loss) before taxes                         (749,219)
Income tax expense                                 (100,000)
                                               ------------
Net (Loss)                                        ($849,219)
                                               ============


                    Sea Containers Services
                    Unaudited Balance Sheet
                     As of June 30, 2007

                            Assets

Current Assets
   Cash and cash equivalents                       ($18,088)
   Trade receivables                                 23,332
   Due from related parties                       5,288,953
   Prepaid expenses and other current assets      5,860,975
                                               ------------
      Total current assets                       11,155,172

Fixed assets, net                                 2,591,250

Investments                                       2,704,278
Intercompany receivables                         45,681,103
Other assets                                      3,738,600
                                               ------------
Total assets                                    $65,870,403
                                               ============


             Liabilities and Shareholders' Equity

Current Liabilities
   Accounts payable                              $2,547,530
Accrued expenses                                 2,559,074
Current portion of long-term debt                1,681,003
                                               ------------
      Total current liabilities                   6,787,607

Total shareholders' equity                       59,082,796
                                               ------------
Total liabilities and shareholders' equity      $65,870,403
                                               ============


                     Sea Containers Services
                 Unaudited Statement of Operations
                 For the Month Ended June 30, 2007

Revenue                                          $2,511,839

Costs and expenses:
   Operating costs                                       -
   Selling, general and
     administrative expenses                     (1,799,312)
   Professional Fees                               (364,256)
   Other charges                                          0
Depreciation and amortization                     (106,719)
                                               ------------
      Total costs and expenses                   (2,270,287)
                                               ------------

Gains on sale of assets                                   0
                                               ------------
Operating income (loss)                             241,552

Other income (expense)
   Interest income                                       34
   Foreign exchange gains (losses)                   (1,302)
   Interest expense, net                            (13,815)
                                               ------------
Income (Loss) before taxes                          226,469
Income tax credit                                         0
                                               ------------
Net Income                                         $226,469
                                               ============

Sea Containers Carribean, Inc., reported zero assets and accounts
payable of $3,530,094, as its sole liabilities in its June 2007
balance sheet.  

Based in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.

In its schedules filed with the Court, Sea Containers Ltd.
disclosed total assets of $62,400,718 and total liabilities of
$1,545,384,083.

The Court extended the Debtors' exclusive period to file a Plan
of Reorganization to Sept. 28, 2007.  (Sea Containers Bankruptcy
News, Issue No. 24; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

                              *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
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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,
USA.  Marie Therese V. Profetana, Shimero R. Jainga, Ronald C. Sy,
Joel Anthony G. Lopez, Cecil R. Villacampa, Jason A. Nieva,
Melanie C. Pador, Ludivino Q. Climaco, Jr., Loyda I. Nartatez,
Tara Marie A. Martin, John Paul C. Canonigo, Sheena Jusay, and
Peter A. Chapman, Editors.

Copyright 2007.  All rights reserved.  ISSN: 1520-9474.

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

The TCR subscription rate is $775 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same firm
for the term of the initial subscription or balance thereof are
$25 each.  For subscription information, contact Christopher Beard
at 240/629-3300.

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