/raid1/www/Hosts/bankrupt/TCR_Public/080628.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, June 28, 2008, Vol. 12, No. 153

                             Headlines

AMERICAN LAFRANCE: Submits Report for Month Ended May 2, 2008
AMERICAN LAFRANCE: Submits Report for Month Ended May 31, 2008
FEDDERS CORP: Posts Net Loss of $5,994,000 in April 2008
FEDERAL-MOGUL: Posts $315.6 Million March 2008 Earnings
KIMBALL HILL: Nevada Unit Files Schedules of Assets and Debts

KIMBALL HILL: California Unit Files Schedules of Assets and Debts
KIMBALL HILL: 11 Affiliates File Schedules of Assets and Debts
KIMBALL HILL: Submits Report for Period April 24 to May 31
LEVITZ FURNITURE: Has $1,095,000 Net Loss in May 5 - June 1, 2008  
PLASTECH ENGINEERED: Amends Schedule of Assets and Liabilities

WELLMAN INC: Incurs $1,100,000 Net Loss in May 2008
ZIFF DAVIS: Delivers May 2008 Monthly Operating Report

                             *********

AMERICAN LAFRANCE: Submits Report for Month Ended May 2, 2008
-------------------------------------------------------------

                    American LaFrance, LLC
                    Unaudited Balance Sheet
                      As of May 2, 2008

   Petty Cash                                          $7,000
   Cash                                            28,565,322
                                               --------------
      Total Cash                                   28,572,322
                                               --------------
   Accounts Receivable
      Trade                                        18,348,182
      Other                                         1,552,301
      Reserves                                       (619,386)
                                               --------------
      Net Accounts Receivable                      19,281,097
                                               --------------
   Prepaids                                        23,567,347

   Inventory                                       70,287,187

   Property, Plant and Equipment at cost           29,389,438

   Accumulated Depreciation                        (6,183,477)
                                               --------------
        Total Assets                             $164,913,914
                                               ==============
   Accounts Payable  Trade
     Postpetition                                  (2,677,851)
     Prepetition                                  (61,883,668)
     Other                                        (10,935,357)

   Accruals                                       (30,328,564)

   Notes Payable
    2003 Notes Payable - Short Term                (4,892,000)
    23010 Preferred Stock - Short Term             (1,305,044)
    23020 Notes Payable - Short Term                  847,443
    23030 Note Payable - Patriarch DIP            (33,200,000)
                                               --------------
      Total Cash                                  (38,549,601)
                                               --------------
   Long Term Debt                                (142,083,932)
                                               --------------
   Total Liabilities                            ($286,458,973)
                                               ==============

   Retained Earnings
    27000 Negative Goodwill                             ($150)
    29300 Retained Earnings                        86,108,422
                                               --------------
    Total Retained Earnings                        86,108,272
                                               --------------
    Total Equity                                   86,108,272
                                               --------------
    Total Profit                                  $35,436,636
                                               ==============
    
                      American LaFrance, LLC
                 Cash Receipts and Disbursements
                   From April 5 to May 2, 2008

   Beginning Cash Book Balance                     $4,958,550
    (excluding Restricted Cash)

   Receipts:
   Accounts Receivable                              2,439,033
   Borrowing Under DIP Facility                    13,200,033
                                               --------------
      Total Receipts                               15,639,066
                                               --------------
   Disbursements:
      Admin                                           261,929
      Out-bound freight                                83,672
      Taxes                                             1,702
      Employee Expense                                 19,101
      Equipment Rental                                152,389
      Insurance                                       313,702
      Marketing                                        41,037
      Occupancy                                       340,619
      Payroll                                       2,491,290
      Employee Benefits & Contractors               1,011,707
      Audit/Tax                                        18,565
      Supplies                                        362,448
      Travel                                              800
      Utilities                                       146,032
      Inventory & Material                          6,653,495
      Utility Deposits                                      -
      PPMG                                            216,703
      DIP Interest                                          -
      A -- Professional Fee Escrow                    860,000
      B -- Payments on Prepetition Debt             2,236,412
                                               --------------
       Total Disbursements                         15,211,603
                                               --------------
      Net Cash Flow                                   427,430
                                               --------------
      Ending Cash Book Balance                     $5,385,980
                                               ==============

                   About American LaFrance

Headquartered in Summerville, South Carolina, American LaFrance
LLC -- http://www.americanlafrance.com/-- is one of the
oldest fire apparatus manufacturers and one of the top six
suppliers of emergency vehicles in North America.  The company
filed for Chapter 11 protection on Jan. 28, 2008 (Bankr. D. Del.
Case No. 08-10178).  Ian T. Peck, Esq., and Abigail W. Ottmers,
Esq., at Haynes and Boone LLP, are the Debtor's proposed Lead
Counsel. Christopher A. Ward, Esq., at Klehr, Harrison, Harvey,
Branzburg & Ellers LLP, are the Debtor's proposed local counsel.  
Pepper Hamilton, LLP is the proposed counsel of the Official
Committee of Unsecured Creditors. In its schedules of assets and
debts filed Feb. 4, 2008, the Debtor disclosed $188,990,680 in
total assets and $89,065,038 in total debts.

(American LaFrance Bankruptcy News, Issue No. 17; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


AMERICAN LAFRANCE: Submits Report for Month Ended May 31, 2008
--------------------------------------------------------------

                    American LaFrance, LLC
                    Unaudited Balance Sheet
                    Month Ended May 31, 2008

   Assets
      Cash                                         $2,401,901
      Restricted Cash                              24,851,830
      Bankruptcy Restricted Cash                    3,318,544
                                              ---------------
         Total Cash                                30,572,275
                                              ---------------
      Accounts Receivable
         Trade                                     18,701,296
         Reserves                                    (619,386)
                                              ---------------
            Net Accounts Receivable                18,081,910
                                              ---------------
      Account Receivable Other                         59,509
      Prepaids                                     26,600,576
      Inventory
         Stores                                    49,129,919
         Finished Goods                            (3,963,716)
         Demo Truck (Net)                           5,542,018
         Work in Progress                          28,207,052
                                              ---------------
            Total Inventory                        78,915,273
                                              ---------------
      Property, Plant and Equipment at cost        29,464,461
                                              ---------------
      Accumulated Depreciation                     (6,558,323)
                                              ---------------
         TOTAL ASSETS                            $177,176,182
                                              ===============

   Liabilities
      Accounts Payable Trade - Postpetition        $1,607,596
      Accounts Payable Trade Prepetition           52,687,860
      Accounts Payable Trade - Other               (1,431,526)
      Freightliner Accounts Payable Postpetition    9,799,354
                                              ---------------
         Total Accounts Payable Trade              62,663,284
                                              ---------------
      Other Accounts Payable                        1,243,348
      Customer Deposits                            10,449,888
      Accrued Interest                              8,761,476
      Accrued Employee Costs                       13,384,564
      Accrued Other                                12,171,443

      Penalty Reserve- Fire                         3,466,100
      Backlog Reserve- Fire                         1,800,115
      Backlog Reserve- Condor                       2,058,956
                                              ---------------
         Total Penalty and Backlog Reserve          7,325,170
                                              ---------------
      Reserves - Other                                257,472
      Warranty - Basic                              5,778,757
      Warranty - Extended                            (348,342)
      Warranty - Policy                               357,944
      Def Income Ext Warranty                       1,771,672
                                              ---------------
         Total Warranty                             7,560,031
                                              ---------------
      Accrued Litigation - Freightliner             2,200,000

      Notes Payable
      Notes Payable - Short Term                    4,892,000
      Preferred Stock - Short Term                  1,305,044
      Notes Payable - Other                          (847,443)
      Short Term Liabilities                        5,349,601
      Notes Payable - Long Term                      (266,754)
      Other Long-term Payables                      9,064,760
      Restructuring Costs                                   0

      Note Payable - Patriarch DIP                 47,000,000
      Note Payable - Patriarch                    122,364,219
                                              ---------------
         Total Patriarch Debt                     169,364,219
                                              ---------------
         Total Liabilities                       $309,528,502
                                              ---------------

   Equity
   Negative Goodwill                                        0
   Unrealized Gain/Loss on Investment                       0
   Retained Earnings/(Loss)                       (93,227,713)
   Current Year Income/(Loss)                     (39,124,607)
                                              ---------------       
      Total Equity                               (132,352,320)
                                              ---------------
         TOTAL LIABILITIES AND EQUITY            $177,176,182
                                              ===============

                      American LaFrance, LLC
                 Cash Receipts and Disbursements
           For the Period from May 1 to May 31, 2008

   Beginning Cash Book Balance                     $5,385,980
      (excluding Restricted Cash)

   Receipts:
      Accounts Receivable                           8,410,879
      Borrowing Under DIP Facility                  8,800,000
                                              ---------------
      Total Receipts                               17,210,879
                                              ---------------
   Disbursements:
      Admin                                           136,588
      Out-bound freight                               100,803
      Taxes                                                 -
      Warranty                                         40,000
      Employee Expense                                  7,756
      Equipment Rental                                137,085
      Insurance                                       313,702
      Marketing                                         5,116
      Occupancy                                       300,625
      Payroll                                       2,714,882
      Employee Benefits & Contractors               1,023,367
      Audit/Tax                                        88,612
      Supplies                                        256,749
      Travel                                                -
      Utilities                                       163,324
      Inventory & Material                          4,841,231
      Utility Deposits                                      -
      PPMG                                                  -
      DIP Interest                                    243,731
       A -- Professional Fee Escrow                   860,000
       B -- Payments on Prepetition Debt            8,410,879
                                              ---------------
      Total Disbursements                          19,644,450
                                              ---------------
   Net Cash Flow                                   (2,433,571)
                                              ---------------
   Ending Cash Book Balance                        $2,952,409
                                              ===============

                   About American LaFrance

Headquartered in Summerville, South Carolina, American LaFrance
LLC -- http://www.americanlafrance.com/-- is one of the
oldest fire apparatus manufacturers and one of the top six
suppliers of emergency vehicles in North America.  The company
filed for Chapter 11 protection on Jan. 28, 2008 (Bankr. D. Del.
Case No. 08-10178).  Ian T. Peck, Esq., and Abigail W. Ottmers,
Esq., at Haynes and Boone LLP, are the Debtor's proposed Lead
Counsel. Christopher A. Ward, Esq., at Klehr, Harrison, Harvey,
Branzburg & Ellers LLP, are the Debtor's proposed local counsel.  
Pepper Hamilton, LLP is the proposed counsel of the Official
Committee of Unsecured Creditors. In its schedules of assets and
debts filed Feb. 4, 2008, the Debtor disclosed $188,990,680 in
total assets and $89,065,038 in total debts.

(American LaFrance Bankruptcy News, Issue No. 17; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


FEDDERS CORP: Posts Net Loss of $5,994,000 in April 2008
--------------------------------------------------------
Fedders Corporation and its debtor-affiliates filed their monthly
operating report for the period ending April 30, 2008.

For April 2008, the Debtors generated $2,798,000 in total gross
sales and incurred a net loss of $5,994,000.

As of April 30, 2008, the Debtors had total assets of $104,000,100,
total liabilities of $320,862,000, and total stockholders' deficit
of $216,762,000.

A full-text copy of the Debtors' April 2008 monthly report is
available for free at http://ResearchArchives.com/t/s?2ed0

                   About Fedders Corporation

Based in Liberty Corner, New Jersey, Fedders Corporation --
http://www.fedders.com/-- manufactures and markets air
treatment products, including air conditioners, air cleaners,
dehumidifiers, and humidifiers.

The company and several affiliates filed for Chapter 11
protection on Aug. 22, 2007, (Bankr. D. Del. Lead Case No. 07-
11182).  The law firm of Cole, Schotz, Meisel, Forman & Leonard
P.A.; and Norman L. Pernick, Esq., Irving E. Walker, Esq., and
Adam H. Isenberg, Esq., at Saul Ewing LLP, represent the Debtors
in their restructuring efforts.  The Debtors have selected Logan
& Company Inc. as claims and noticing agent.  The Official
Committee of Unsecured Creditors is represented by Brown Rudnick
Berlack Israels LLP.  When the Debtors filed for protection from
its creditors, it listed total assets of $186,300,000 and total
debts of $322,000,000.

The Debtors' non-North American subsidiaries, which include
operations in China, India, the Philippines, Germany, and the
United Kingdom, were not included in the filing.

The Debtors has filed their chapter 11 plan of liquidation and
disclosure statement.  The Court fixed July 8, 2008, as the date
for the disclosure statement hearing.


FEDERAL-MOGUL: Earns $315.6 Million in Month Ended March 31
-----------------------------------------------------------

                Federal-Mogul Global, Inc., et al.
                     Unaudited Balance Sheet
                       As of March 31, 2008
                            (In millions)

                               Assets

Cash and equivalents                                     $508.2
Accounts receivable                                       624.7
Inventories                                               472.3
Deferred taxes                                            289.0
Prepaid expenses and other current assets                  57.2
                                                       --------
Total current assets                                    1,951.4

Summary of Unpaid Postpetition Debits                      58.1  
Intercompany Loans Receivable (Payable)                    18.0
                                                       --------
Intercompany Balances                                      76.1

Property, plant and equipment                             701.2
Goodwill                                                      -
Other intangible assets                                     1.1
Insurance recoverable                                         -
Other non-current assets                                1,122.2
                                                       --------
      Total Assets                                     $3,852.0
                                                       ========

               Liabilities and Shareholders' Equity

Short-term debt                                               -
Accounts payable                                         $241.1
Accrued compensation                                       54.7
Restructuring and rationalization reserves                  6.9
Current portion of asbestos liability                        -
Interest payable                                           13.0
Other accrued liabilities                                 981.4
                                                       --------
Total current liabilities                               1,297.2

Long-term debt                                          2,795.2
Post-employment benefits                                  571.3
Other accrued liabilities                                 609.2
Liabilities subject to compromise                       2,828.8

Shareholders' equity:
   Preferred stock                                      1,023.2
   Common stock                                           120.5
   Additional paid-in capital                           7,934.4
   Accumulated deficit                                (13,546.5)
   Accumulated other comprehensive income                 218.9  
   Other                                                     -
                                                       --------
Total Shareholders' Equity                             (4,249.5)
                                                       --------
Total Liabilities and Shareholders' Equity             $3,852.0    
                                                       ========

                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Operations
                For the Month Ended March 31, 2008
                          (In millions)

Net sales                                                $270.1  
Cost of products sold                                     216.4
                                                       --------
Gross margin                                               53.7

Selling, general & administrative expenses                (39.8)
Amortization                                               (0.2)
Reorganization items                                       (1.7)
Fresh Accounting Expense                                   93.7
Interest income (expense), net                            (16.9)  
Other income (expense), net                               226.0    
                                                       --------
Earnings before Income Taxes                              314.7

Income Tax (Expense) Benefit                                0.9
                                                       --------
Earnings before cumulative effect of change        
   in accounting principle                                315.6    

Cumulative effect of change in acctg. principle               -
                                                       --------
Net Earnings (loss)                                      $315.6
                                                       ========    

                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Cash Flows
                For the Month Ended March 31, 2008
                          (In millions)

Cash Provided From (Used By) Operating Activities:
   Net earning (loss)                                    $315.6  
Adjustments to reconcile net earnings (loss) to net cash:
   Depreciation and amortization                           11.0
   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                      (0.2)
   Decrease (increase) in accounts receivable             (34.2)
   Decrease (increase) in inventories                      (0.6)
   Increase (decrease) in accounts payable                 (5.3)
   Change in other assets & other liabilities            (321.9)
   Change in restructuring charge                             -
   Refunds (payments) against asbestos liability              -
                                                       --------
Net Cash Provided From Operating Activities               (35.6)

Cash Provided From (Used By) Investing Activities:
   Expenditures for property, plant & equipment            (6.7)
   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      (6.7)

Cash Provided From (Used By) Financing Activities:
   Increase (decrease) in debt                             (1.8)
   Sale of accounts receivable under securitization           -
   Dividends                                                  -
   Other                                                    0.1
                                                       --------
Net Cash Provided From Financing Activities                (1.7)

Increase (Decrease) in Cash and Equivalents               (44.0)

Cash and equivalents at beginning of period               552.1
                                                       --------
Cash and equivalents at end of period                    $508.2
                                                       ========

                      About Federal-Mogul

Federal-Mogul Corporation -- http://www.federal-mogul.com/--  
(OTCBB: FDMLQ) is a global supplier, serving the world's foremost
original equipment manufacturers of automotive, light commercial,
heavy-duty, agricultural, marine, rail, off-road and industrial
vehicles, as well as the worldwide aftermarket.  Founded in
Detroit in 1899, the company is headquartered in Southfield,
Michigan, and employs 45,000 people in 35 countries.  Aside from
the U.S., Federal-Mogul also has operations in other locations
which includes, among others, Mexico, 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 &
Jones, 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.  The Debtors 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 Fourth Amended Plan was confirmed by the Bankruptcy
Court on Nov. 8, 2007, and affirmed by the District Court on
November 14.  Federal-Mogul emerged from chapter 11 on Dec. 27,
2007.  (Federal-Mogul Bankruptcy News, Issue No. 169; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or           
215/945-7000)

                          *     *     *

As reported in the Troubled Company Reporter on Jan. 10, 2008,
Moody's Investors Service confirmed the ratings of the reorganized
Federal-Mogul Corporation -- Corporate Family Rating, Ba3;
Probability of Default Rating, Ba3; and senior secured bank credit
facilities, Ba2.  The outlook is stable.  The financing for the
company's emergence from Chapter 11 bankruptcy protection has been
funded in line with the structure originally rated by Moody's in a
press release dated Nov. 28, 2007.

As reported in the Troubled Company Reporter on Jan. 7, 2008,
Standard & Poor's Ratings Services assigned its 'BB-' corporate
credit rating to Southfield, Michigan-based Federal-Mogul Corp.
following the company's emergence from Chapter 11 on Dec. 27,
2007.  The outlook is stable.


KIMBALL HILL: Nevada Unit Files Schedules of Assets and Debts
-------------------------------------------------------------
Kimball Hill Homes Nevada Inc., debtor-affiliate of Kimball Hill
Inc., submitted its schedule of assets and liabilities,
disclosing:

A.   Real Property                                          $0

B.   Personal Property
B.1  Cash on hand                                            0
B.2  Financial Accounts                                      
       Bank of America                                 192,000
B.3  Security Deposits                                       0
B.4  Household Goods and Furnishings                         0
B.5  Books, pictures and other art objects                   0
B.6  Wearing apparel                                         0
B.7  Furs and jewelry                                        0
B.8  Firearms, sports and other hobby equipment              0
B.9  Interests in insurance policies                         0
B.10 Annuities                                               0
B.11 Interests in education IRA                              0
B.12 Interest in pension, profit sharing plan                0
B.13 Stock & Interests                                 
       Kyle Acquisition Group, LLC                           0
       Wynndam                                       1,027,593
       South Edge, LLC                                       0
B.14 Investments in subsidiaries & others                    0
B.15 Gov't. & corporate bonds, etc.                          0
B.16 Accounts Receivable
       Settlement Proceeds                             286,595
       Advanced Commissions                            (66,605)
       Miscellaneous Receivables                       (29,910)
B.17 Alimony & property settlements                          0
B.18 Liquidated debts owed to debtor                         0
B.19 Other equitable interests                               0
B.20 Investment in deferred compensation                     0
B.21 Derivative asset                                        0
B.22 Intellectual property                                   0
B.23 Licenses & franchises                                   0
B.24 Borrower & applicant list                               0
B.25 Vehicles & accessories                                  0
B.26 Boats, motors & accessories                             0
B.27 Aircraft & accessories                                  0
B.28 Office equipment, furnishings, supplies               (17)
B.29 Machinery, supplies, equipment, supplies                0
B.30 Inventory                                               
       Southedge - Village 23 (POD 16)              30,771,874
       Teramina-Avellino                            34,967,677
       Teramina-Capella                             14,097,446
       Highland Hills South                         10,770,436
       San Gabrial 126W                              8,945,616
       Southedge Towncenter                          7,518,168
       131B                                          6,842,724
       Cliffs Edge Brighton                          6,438,026
       Cliffs Edge Kensington                        6,595,898
       Cliffs Edge Windimere                         5,379,089
       Pyrenees 131A                                 3,374,742
       Highland Hills East                             972,085    
       Tolberts Mill Breckenridge                      233,316
       Windimere Unit II Small Lots SF                 174,016
       Southedge Village 31 (POD 54)                     9,586
       Caparola                                          8,552
       Sierra Madre 126E                                 8,238
       Terrasano                                         5,677
       Southedge - Village 23 Townhome                   5,100
       Stonebridge                                         986
       Kyle Canyon-Terrasano (POD 1)                        39
       Terramina Sellco                            (36,120,914)
       Highland South II Magnolia Product             (737,062)
       Hartridge                                        (2,950)
       Inspiration                                         (65)
B.31 Animals                                                 0
B.32 Crops                                                   0
B.33 Farming equipment & implements                          0
B.34 Farm supplies, chemicals & feed                         0
B.35 Other personal property
       Consolidating adjustment                     43,651,701
       Open account payable adjustments              1,309,754
       Deferred project overhead                       869,011
       Leasehold improvements Beltway Center           523,324
       To record adjustment to Capped IDC             (290,501)
       A/D leasehold improvements                     (120,806)


     TOTAL SCHEDULED ASSETS                       $147,610,439
     =========================================================

C.   Property Claimed as Exempt                           None

D.   Creditors Holding Secured Claims              
       Harris N.A., as Administrative Agent       $318,316,046
       RBC Centura Bank                           Undetermined
       RFC Construction Funding Corp.             Undetermined
       Washington Mutual Bank, FA                 Undetermined

E.   Creditors Holding Unsecured Priority Claims             
       Enterprise Inc.                                   4,850
       Tao Chow                                          2,425
       Kong Deng                                         2,425
       Nowell Granados                                   2,425
       Allen Lee                                         2,425
       Fieman Li                                         2,425
       Qiaohong Li                                       2,425
       Darin Nakasone                                    2,425
       Luis Papa                                         2,425
       Amanda Ricketts                                   2,425
       Paul Rochester                                    2,425
       Nelson Sandefur                                   2,425
       Tony Tam                                          2,425
       Isaiah Darrough                                   1,500

F.   Creditors Holding Unsecured Non-priority Claims
       US Bank, as Indenture Trustee               210,584,588
       Intercompany                                 94,821,452
       Westcor Construction                            827,068
       Curtis Excavating                               610,108
       Cedco Inc.                                      497,842
       TS Paiting & Drywall                            475,744
       Desert Plastering                               310,345
       Coronado Concrete                               296,586
       Mountains Edge Marketing Coop                   165,450
       Sunrise Mechanical, Inc.                        158,524
       Executive Plumbing                              146,374
       Southern Vegas Valley Contracting, LLC          142,352
       Toro Concrete Inc.                              136,682
       Floor Design of Nevada, LLC                     135,882
       Avanti Door Group Inc.                          127,426
       T & F Marble & Granite Inc.                     116,215
       Roofing Company                                 109,143
       Coast West Plumbing, Inc.                       104,988
       Adams Brothers Interiors of Nevada, Inc.         99,252
       DRI Residential Nevada                           98,526
       Thomason Consulting Engineers                    92,956
       Interstate Plumbing & Aircond., Inc.             71,368
       Unique-Scape & Design                            70,435
       M & M Electric, Inc.                             69,312
       K.W. Pipeline Inc.                               68,746
       Southwestern Pavers                              66,836
       GE Appliances                                    66,430
       Houston Stafford Electric                        66,237
       Milgard Windows                                  62,583
       Efficient Electric                               60,196
       Lunas Construction                               59,779
       Clark County Treasurer                           59,009
       Legacy Construction                              52,579
       Cabinetec, Inc.                                  50,151
       Cabinets West Dist                               47,125
       Frehner Masonry, Inc.                            42,990
       Weil and Drage                                   42,343
       Others                                          923,702

     TOTAL SCHEDULED LIABILITIES                  $630,288,820
     =========================================================

                       About Kimball Hill

Based in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- is one of the largest           
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues.  The company designs, builds and markets single-
family detached, single-family attached and multi-family homes.
The company currently operate within 12 markets, including, among
others, Chicago, Dallas, Ft. Worth, Houston, Las Vegas, Sacramento
and Tampa, in five regions: Florida, the Midwest, Nevada, the
Pacific Coast and Texas.

Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095).  Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts.  The Debtors'
consolidated financial condition as of Dec. 31, 2007 reflected
total assets of $795,473,000 and total debts $631,867,000.  The
Debtors have until Aug. 21, 2008, to exclusively file their chapter
11 plan.

(Kimball Hill Bankruptcy News, Issue No. 7; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


KIMBALL HILL: California Unit Files Schedules of Assets and Debts
-----------------------------------------------------------------
Kimball Hill Homes California Inc., debtor-affiliate of Kimball
Hill Inc., submitted its schedule of assets and liabilities,
disclosing:

   A.     Real Property                                      $0
   B.     Personal Property                                   0
   B.1    Cash on hand                                        0
   B.2    Bank Accounts                                       0
   B.3    Security Deposits                                   0
   B.4    Household goods                                     0
   B.5    Collectibles                                        0
   B.6    Wearing apparel                                     0
   B.9    Interests in Insurance Policies                     0
   B.10   Annuities                                           0
   B.11   Interests in educational IRA                        0
   B.12   Interests in IRA, ERISA or other Pension Plans      0
   B.13   Business Interests and stocks                       0
   B.14   Interests in partnerships                   
             Sunridge Park Limited Partnerships:        750,000
             10% ownership
   B.15   Government and Corporate Bonds                      -
   B.16   Accounts Receivable                                 -
             Escrow Holdbacks                            18,266
             Advanced Commissions                       (22,250)
             Miscellaneous Receivables                1,073,438
          Intercompany Receivable                    62,292,673
   B.18   Other Liquidated Debts                              -
   B.20   Other Contingent & Unliquidated Claims              -
   B.21   Intellectual Property                               -
   B.22   Patents                                             -
   B.23   Licenses, Franchises and General Intangibles        -
   B.25   Vehicles                                            -
   B.26   Boats, motors, and accessories                      -
   B.27   Aircraft and accessories                            -
   B.28   Office equipment, furnishings and supplies    
             CDW Select                                  23,971
             Opening entry - fully depreciated assets    12,548
             Chris Glenn Invoice #941583                     48
             Lisa Foster Reimbursement                      356
                Less - depreciation                     (34,118)
   B.29   Machinery
             Chevrolet Ex Cargo - purchase for Q&A Dept. 21,801
             Chevrolet Ex Cargo  1/2 - Warranty Van      23,387
                Less Depreciation                       (41,512)
   B.30   Inventory                                    
             Somerset                                12,410,432
             Creekside 4                              4,214,142
             Natomas                                  2,869,231
             Willowood                                1,883,685
             Bellevue Ranch                           2,209,982
             Bing Cherry Estates HB                   2,280,878
             Cornerstone II                           2,861,361
             Tiburon Village                          2,128,620
             River Walk                               3,461,746
             Eight Mile Ranch                           489,903
             Meddings Property                          305,806
             Sotogrande Assemblage                       77,509
             Manteca                                      5,157
             Reflections                                    703
             Gerber Creek                                    68
             Stonehedge                                      45
             Westwood                                         0
             Linden Shores                                    0
             Stonebridge                                      0
             Antelope Trails III                        (82,893)
             Spanos Park East III                       (15,582)
             Montauban                                   (9,734)
             Eagle Crest                                 (7,837)
             Meadowood                                   (4,880)
             Ranch                                       (5,983)
             NCAL Land                                   (1,132)
             Sonata                                        (922)
             Windmill Park                                 (690)
             Northgate                                     (208)
             Parkview 3&4-Executive                        (325)
             Parkview 5&6                                  (130)
B.35   Other Personal Property
             To record adjustment to Capped IDC         (22,500)
             Prepaid & Deferreds                         63,714
             Open Accounts Payable Adjustments        1,090,541
             Deferred Project Overhead                  715,500
             Consolidating Adjustment                 3,102,585

        TOTAL SCHEDULED ASSETS                     $104,137,399
        =======================================================

C.     Property Claimed as Exempt                            $0

D.     Secured Claim
          B&D Inc.                                            -
          Creative Touch Interiors                            -
          Harris N.A.                              Undetermined
          Harris N.A.                               318,316,046

E.     Unsecured Priority Claims                         42,800
          See http://bankrupt.com/misc/Kimball_ScheduleE.pdf

F.     Unsecured Non-priority Claims                214,545,737
          See http://bankrupt.com/misc/Kimball_ScheduleF.pdf

        TOTAL SCHEDULED LIABILITIES                $532,904,583
        =======================================================

                       About Kimball Hill

Based in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- is one of the largest           
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues.  The company designs, builds and markets single-
family detached, single-family attached and multi-family homes.
The company currently operate within 12 markets, including, among
others, Chicago, Dallas, Ft. Worth, Houston, Las Vegas, Sacramento
and Tampa, in five regions: Florida, the Midwest, Nevada, the
Pacific Coast and Texas.

Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095).  Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts.  The Debtors'
consolidated financial condition as of Dec. 31, 2007 reflected
total assets of $795,473,000 and total debts $631,867,000.  The
Debtors have until Aug. 21, 2008, to exclusively file their chapter
11 plan.

(Kimball Hill Bankruptcy News, Issue No. 7; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


KIMBALL HILL: 11 Affiliates File Schedules of Assets and Debts
--------------------------------------------------------------
Kimball Hill Inc.'s 11 debtor-affiliates reported assets ranging
between $0 to $1,000,000:

Debtor                                  Assets        Debts
------                               ------------  ------------
Kimball Hill Urban Centers, L.L.C.      $943,154   $535,769,747

Kimball Hill Homes Texas                 495,000    529,392,634
Investments, L.L.C.

Kimball Hill Stateway, Inc.              442,543    528,900,634

Kimball Hill Homes Texas                 300,000    528,900,634
Operations, L.L.C.

Kimball Hill Urban Centers               168,596    529,055,488
Special Purposes, LLC

Kimball Hill Homes Ohio, Inc.             50,644    539,969,000

Kimball Hill Urban Centers                50,197    528,922,008
Chicago Two, L.L.C.

Kimball Hill Homes Wisconsin, Inc.        46,712    551,079,348

KH Financial Holding Company               1,000    528,900,634

Kimball Hill Texas Investment              1,000    528,900,634
Company, L.L.C.

Kimball Hill Homes Realty Florida, Inc.        0    528,906,592

                       About Kimball Hill

Based in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- is one of the largest           
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues.  The company designs, builds and markets single-
family detached, single-family attached and multi-family homes.
The company currently operate within 12 markets, including, among
others, Chicago, Dallas, Ft. Worth, Houston, Las Vegas, Sacramento
and Tampa, in five regions: Florida, the Midwest, Nevada, the
Pacific Coast and Texas.

Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095).  Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts.  The Debtors'
consolidated financial condition as of Dec. 31, 2007 reflected
total assets of $795,473,000 and total debts $631,867,000.  The
Debtors have until Aug. 21, 2008, to exclusively file their chapter
11 plan.

(Kimball Hill Bankruptcy News, Issue No. 7; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


KIMBALL HILL: Submits Report for Period April 24 to May 31
----------------------------------------------------------
Kimball Hill Inc., delivered to the U.S. Bankruptcy Court for the
Northern District of Illinois its first Monthly Operating Report
postpetition, which includes a summary of their (i) accounts
payable, (ii) accounts receivable and (iii) cash receipts and
disbursements for the period from April 24 through May 31, 2008.

                        Kimball Hill, Inc.
            Summary of Trade Receivables and Payables
           For the Period from April 24 to May 31, 2008

                     Aged Trade Receivable     Accounts Payable
                     ---------------------     ----------------
Beginning Balance           $2,199,562                    $0
Add: Sales on account       35,178,428            10,565,330
Less: Collections           32,872,102             7,519,047
                     ---------------------     ----------------
Ending Balance              $4,505,887            $3,046,282
                     =====================     ================

                        Kimball Hill, Inc.
           Summary of Cash Receipts and Disbursement
           For the Period From April 24 to May 31, 2008

Beginning Cash Balance                               $11,515,131

Receipts from operations      
    Accounts receivable receipts                      32,872,103
    Notes receivable receipts                            929,181
    Accts. Receivable collection
     for non-debtors                                     790,600
Other receipts
    Interest income                                       91,839
    Proceeds from sale of fixed assets                   196,398
    Oil exploration revenue                              339,458
    Income tax refunds                                51,851,594
    Customer deposits                                    391,884
    Customer deposits for non-debtors                     24,000
    Miscellaneous receipts                               519,229
                                                   -------------
Total Receipts                                        88,006,286
                                                   -------------
Disbursements
    Payroll
     Officers                                            678,264
     Others                                            2,554,668
      Total Payroll                                -------------
                                                       3,232,931
    Taxes
     Federal income tax                                  663,557
     FICA withholdings                                   301,734
     Employee's withholdings                                   0
     Employer's FICA                                     301,734
     Federal unemployment taxes                              433
     State income tax                                     63,207
     State employee withholdings                               0
     All other state taxes                                 2,764
     State unemployment taxes                              5,049
                                                   -------------
      Total Taxes                                      1,338,479

Necessary expenses
    Homebuilding costs                                 3,650,609
    Debt and interest payments                         1,562,073
    General and administrative costs                   1,271,427
    Permits                                              866,885
    Land and land Development                            751,184
    Vendor retainers and deposits                        478,500
    Medical health claims                                453,447
    Transfer to non-debtor bank accounts                 324,864
    Customer deposit refunds                             287,345
    401K funding                                         211,508
    Texas sales taxes                                    143,184
    Professional fees                                    137,663
    Warranty costs                                        83,781
    Flex spending reimbursements                          26,183
                                                    ------------
     Total Necessary Expenses                         10,248,652
                                                    ------------
Total Disbursements                                   14,820,062    
                                                   -------------
Net receipts for the period                           73,186,224
                                                   -------------
Ending Cash Balance                                  $84,701,355
                                                   =============

                       About Kimball Hill

Based in Rolling Meadow, Illinois, Kimball Hill Inc. --
http://www.kimballhillhomes.com/-- is one of the largest           
privately-owned homebuilders and one of the 30 largest
homebuilders in the United States, as measured by home deliveries
and revenues.  The company designs, builds and markets single-
family detached, single-family attached and multi-family homes.
The company currently operate within 12 markets, including, among
others, Chicago, Dallas, Ft. Worth, Houston, Las Vegas, Sacramento
and Tampa, in five regions: Florida, the Midwest, Nevada, the
Pacific Coast and Texas.

Kimball Hill, Inc. and 29 of its affiliates filed for Chapter 11
protection on April 23, 2008 (Bankr. N.D. Ill. Lead Case No. 08-
10095).  Ray C. Schrock, Esq., at Kirkland & Ellis LLP, represents
the Debtors in their restructuring efforts.  The Debtors'
consolidated financial condition as of Dec. 31, 2007 reflected
total assets of $795,473,000 and total debts $631,867,000.  The
Debtors have until Aug. 21, 2008, to exclusively file their chapter
11 plan.

(Kimball Hill Bankruptcy News, Issue No. 7; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


LEVITZ FURNITURE: Has $1,095,000 Net Loss in May 5 - June 1, 2008  
-----------------------------------------------------------------

                           PLVTZ, Inc.
                          Balance Sheet
                        As of June 1, 2008

ASSETS
   Current Assets
      Cash                                           $691,000
      Accounts receivable, net                        615,000
                                                 ------------
      Total current assets                          1,306,000

   Other assets                                     4,040,000
                                                 ------------
TOTAL ASSETS                                       $5,346,000
                                                 ============

               Liabilities and Shareholders' Equity

Liabilities Not Subject to Compromise
  Current Liabilities:
     Accounts payable trade                        $4,043,000
     Accrued expenses                                 482,000
     Customer Deposits                                952,000
                                                 ------------
     Total current liabilities                      5,477,000

Liabilities Subject to Compromise       
  Term loan B                                      20,715,000
  Trade and other miscellaneous claims             45,073,000
  Customer Deposit                                  2,398,000
                                                 ------------
  Total                                           $68,186,000           

     TOTAL LIABILITIES                             73,663,000
                                                 ------------

Shareholder's (deficit):
     Preferred stock                               47,000,000
     Class A Common stock                         139,030,000
     Class B Common stock                          10,000,000
     Retained (deficit)                          (264,347,000)
                                                 ------------
     Shareholder's deficit                        (68,317,000)

TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT          $5,346,000
                                                 ============

                           PLVTZ, Inc.
                      Statement of Operations
                For the period May 5 to June 1, 2008

Selling, operating and administrative Expenses       $384,000
Reorganization costs                                  711,000
                                                 ------------
Net Loss                                           $1,095,000
                                                 ============

                           PLVTZ, Inc.
                     Statement of Cash Flows
               For the period May 5 to June 1, 2008

Cash flows used in operating activities:
  Cash received others                               $718,000
  Cash received from Sales Agent                    1,223,000
  Cash paid to suppliers and employees             (1,280,000)
                                                 ------------
  Net cash used in operating activities               661,000
                                                 ------------
Net decrease in cash and cash equivalents             661,000

Cash and cash equivalents at beginning of month        30,000
                                                 ------------
Cash and cash equivalents at end of month            $691,000
                                                 ============

                  About Levitz Furniture/PVLTZ

Based in New York City, Levitz Furniture Inc., nka PVLTZ Inc. --
http://www.levitz.com/-- is a specialty retailer of furniture,
bedding and home furnishings in the United States.  It has 76
locations in major metropolitan areas, principally in the
Northeast and on the West Coast of the United States.

Levitz Furniture Inc. and 11 affiliates filed for chapter 11 on
Sept. 5, 1997.  In December 2000, the Court confirmed the Debtors'
Plan and Levitz emerged from chapter 11 on February 2001.  Levitz
Home Furnishings Inc. was created as the new holding company as a
result of the emergence.

Levitz Home Furnishings and 12 affiliates filed for chapter 11
protection on Oct. 11, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-
45189).  In their second filing, the Debtors disclosed about
$245 million in total assets and $456 million in total debts.
Nicholas M. Miller, Esq., and Richard H. Engman, Esq., at Jones
Day represented the Debtors.  Jeffrey L. Cohen, Esq., Jay R.
Indyke, Esq., and Cathy Hershcopf, Esq., at Cooley Godward Kronish
LLP served as counsel to the Official Committee of Unsecured
Creditors.  During this period, the Debtors closed around 35
stores in the Northeast, California, Minnesota and Arizona.

PLVTZ Inc., a company created by Prentice Capital Management LP,
and Great American Group purchased substantially all the assets of
Levitz Home Furnishings in December 2005.  Initially, Prentice
owned all of the equity interests in PLVTZ.  On July 6, 2007,
PLVTZ was converted into a Delaware corporation, and Harbinger
Capital Partners Special Situations Fund, LP, Harbinger Capital
Partners Master Fund I, Ltd., and their affiliates became minority
shareholders.  Great American's stake in the acquisition was in
running the going-out-of-business sales for some 27 Levitz units.

PLVTZ, dba Levitz Furniture, continued to face decline in
financial performance since December 2005.  Liquidity issues and
the inability to obtain additional capital prompted PLVTZ to seek
protection under chapter 11 on Nov. 8, 2007 (Bankr. S.D.N.Y. Lead
Case No. 07-13532).  Paul D. Leake, Esq., and Brad B. Erens, Esq.,
at Jones Day represents the Debtors in their restructuring
efforts.  Kurtzman Carson Consultants LLC serves as the Debtors'
claims and noticing agent.  The Debtor's schedules show total
assets of $123,842,190 and total liabilities of $76,421,661.

The Debtors' exclusive period to file a chapter 11 plan expired on
March 7, 2008.  On March 28, 2008, the Court dismissed the chapter
11 cases of Levitz II (Levitz Home Furnishings Inc., and its
remaining six debtor-affiliates).

(Levitz Bankruptcy News, Issue No. 41; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


PLASTECH ENGINEERED: Amends Schedule of Assets and Liabilities
--------------------------------------------------------------
Plastech Engineered Products Inc. amended its Schedule F in its
Statement of Assets and Liabilities to reduce United Industries,
Inc.'s scheduled unsecured non priority claim from $267,170 to
$266,635.

                     About Plastech Engineered

Based in Dearborn, Michigan, Plastech Engineered Products, Inc. --
http://www.plastecheng.com/-- is full-service automotive
supplier of interior, exterior and underhood components.  It
designs and manufactures blow-molded and injection-molded plastic
products primarily for the automotive industry.  Plastech's
products include automotive interior trim, underhood components,
bumper and other exterior components, and cockpit modules.  
Plastech's major customers are General Motors, Ford Motor Company,
and Toyota, as well as Johnson Controls, Inc.

Plastech is a privately held company and is the largest family-
owned company in the state of Michigan.  The company is certified
as a Minority Business Enterprise by the state of Michigan.  
Plastech maintains more than 35 manufacturing facilities in the
midwestern and southern United States.  The company's products are
sold through an in-house sales force.

The company and eight of its affiliates filed for Chapter 11
protection on Feb. 1, 2008 (Bankr. E.D. Mich. Lead Case No. 08-
42417).  Gregg M. Galardi, Esq., at Skadden Arps Slate Meagher &
Flom LLP, and Deborah L. Fish, Esq., at Allard & Fish, P.C.,
represent the Debtors in their restructuring efforts.  The Debtors
chose Jones Day as their special corporate and litigation counsel.  
Lazard Freres & Co. LLC serves as the Debtors' investment bankers,
while Conway, MacKenzie & Dunleavy provide financial advisory
services.  The Debtors also employed Donlin, Recano & Company as
their claims and noticing agent.

Joel D. Applebaum, Esq., at Clark Hill PLC, represents the
Official Committee of Unsecured Creditors.

As of Dec. 31, 2006, the company's books and records
reflected assets totaling $729,000,000 and total liabilities of
$695,000,000.  (Plastech Bankruptcy News, Issue No. 25; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


WELLMAN INC: Incurs $1,100,000 Net Loss in May 2008
---------------------------------------------------

                           Wellman, Inc.
               Condensed Consolidated Balance Sheet
                            (Unaudited)
                        As of May 31, 2008

                              ASSETS

Current assets:
Cash and cash equivalents                           $13,000,000
Accounts receivable                                 157,000,000
Inventories                                         102,600,000
Prepaid expenses and other current assets            39,500,000
Current assets held for sale                                  -
                                                   ------------
Total current assets                                312,100,000

Property, plant and equipment:
Land, buildings and improvements                     90,400,000    
Machinery and equipment                             339,400,000   
CIP                                                   4,700,000
                                                   ------------
                                                    434,500,000
Less accumulated depreciation                       196,700,000
                                                   ------------  
Net property, plant and equipment                   237,800,000

Other assets                                         11,300,000
Noncurrent assets held for sale                               -
                                                   ------------
Total Assets                                       $561,200,000
                                                   ============

               LIABILITIES & STOCKHOLDERS' DEFICIT

Liabilities Not Subject to Compromise
Current Liabilities:
Accounts payable - trade                             11,700,000
Accrued liabilities                                  20,200,000
Debtor-in-possession credit agreement               174,100,000
Other debt                                                    -
Current liabilities associated with assets
   held for sale                                              -
                                                   ------------
Total current liabilities                           206,000,000

Liabilities subject to compromise                   530,900,000

Long-term debt                                                -
Deferred income taxes and other noncurrent
   liabilities                                       37,200,000
Noncurrent liabilities associated w/ assets
   held for sale                                              -
                                                   ------------
Total Liabilities                                   774,100,000

Stockholders' Deficit:
Common stock                                                  -
Preferred stock                                     185,700,000
Paid-in capital                                     248,400,000     
Common stock warrants                                 4,900,000
Accumulated other comprehensive loss                          -
Accumulated deficit                                (602,400,000)
Less common stock in treasury                       (49,500,000)
                                                   ------------
Total Stockholders Deficit                         (212,900,000)
                                                   ------------
                                                   $561,200,000
                                                   ============

                           Wellman, Inc.
              Consolidated Statements of Operations
                            (Unaudited)
                 For the Month Ended May 31, 2008

Net Sales                                           $94,500,000
Cost of Sales                                        89,900,000
                                                   ------------
Gross Profit (Loss)                                   4,600,000

Selling, General and Administrative Expenses          2,200,000
Other (Income) Loss                                    (100,000)
                                                   ------------
Operating Income (Loss)                               2,500,000     

Interest Expense, Net                                 1,000,000
                                                   ------------
Earnings (loss) from continuing operations
   before reorganization items and income taxes       1,500,000

Reorganization Items, Net                             2,600,000
                                                   ------------   
Earnings (loss) from continuing operations
   before income taxes                               (1,100,000)

Income tax expense (benefit)                                  0
                                                   ------------
Earnings (loss) from continuing operations           (1,100,000)
Earnings (loss) from discontinued operations,
   net of tax                                                 0
                                                   ------------
Net Earnings (Loss)                                 ($1,100,000)
                                                   ============

                           Wellman, Inc.
                Simplified Statement of Cash Flows
                            (Unaudited)
                 For the Month Ended May 31, 2008

Cash flow from operating activities:
Net earnings (loss)                                 ($1,100,000)

Adjustments to reconcile net earnings (loss) to
   net cash used in operating activities:
Loss from discontinued operations, net of tax                 0
Depreciation                                          1,400,000     
Amortization                                          1,000,000
Amortization in interest expense                        300,000
Deferred taxes on income                                      0
Reorganization Items                                  2,600,000     
Payment of reorganization items                      (3,000,000)  
Gain on sale of assets                                        0

Changes in assets and liabilities:
Accounts receivable                                  (6,700,000)
Inventories                                          (9,400,000)
Prepaid expenses and other current assets           (10,800,000)
Other assets                                           (200,000)
Accounts payable and accrued liabilities              7,000,000
Other liabilities                                             0
Other                                                         0
                                                   ------------
Net cash provided (used) by operating activities   ($18,900,000)  

Cash flows from investing activities:
Additions to property, plant and equipment (net)       (300,000)
Proceeds from sale of assets                                  0
                                                   ------------
Net cash used by investing activities                  (300,000)   

Cash flows from financing activities:
Borrowings (repayments) of long-term debt            31,900,000
Dividends paid on common stock                                0
Debt and equity issuance costs                                0
                                                   ------------
Net cash provided (used) by financing activities     31,900,000   

Discontinued Operations:
Operating activities                                          0
Investing activities                                          0
Financing activities                                          0
                                                   ------------
Net cash provided (used) by discontinued
   operations                                                 0
                                                   ------------
Increase (decrease) in cash and cash                 12,700,000
                                                        
Cash and cash equivalents, beginning                    300,000
                                                   ------------
Cash and cash equivalents, end                      $13,000,000
                                                   ============

According to Wellman, the $2,700,000 increase in gross profit --
from $1,900,000 in April to $4,600,000 in May -- was attributable
to an increase in the chemical-based segment ($2,900,000) reduced
by a decrease in the recycled-based segment ($200,000).  

In the chemical based segment, Current Raw Material Margin
increased by $2,500,000.  This increase was more than offset by
the FIFO method of accounting for inventory, which resulted in
$5,000,000 of higher raw material costs from prior months being
charged against current month's selling prices.

In May, polyester staple fiber sales volumes were flat and PET
resins sales volumes increased by approximately 13,000,000
pounds.  The remaining increase in gross profit was attributable
to the combined effect of reduced plant spending and favorable
developments associated with pending litigation--approximately
$5,200,000 combined total.   

Gross profit for the recycled-based segment decreased, due
primarily to lower raw material margins mainly attributable to
increased raw material costs.   SG&A costs decreased by $600,000
due to continued cost reduction activities and $100,000 of other
income was attributable to anti-dumping proceeds.  As a result,
Wellman reported operating income of $2,500,000 in May compared
to an operating loss of $700,000 in April.  Interest expense
increased slightly to $1,000,000 in May compared to $900,000 in
April.  Interest expense was calculated only on the amount
borrowed under the company's Credit Agreement.

Reorganization costs, which consisted primarily of legal fees
related to the Chapter 11 filing, were $2,600,000 in May compared
to $3,100,000 in April.  As a result, Wellman's net loss is
$1,100,000 for May 2008.

The balance sheet at May 31, 2008, reflected $174,100,000 in
borrowings under the Credit Agreement and $13,000,000 in cash and
cash equivalents.  The total borrowed at May 31, net of cash on
hand, was $19,200,000 higher than April.  

Accounts receivable, inventories and prepaid expenses increased
by $7,100,000, $9,400,000, and $9,500,000, respectively, due to
increased selling prices, higher raw material costs and a larger
quantity of raw material inventory in the chemical-based segment.
In addition accounts payable increased by $7,300,000.

                        About Wellman Inc.

Headquartered in Fort Mill, South Carolina, Wellman Inc. ([OTC]:
WMANQ.OB) -- http://www.wellmaninc.com/-- manufactures and       
markets packaging and engineering resins used in food and beverage
packaging, apparel, home furnishings and automobiles.  They
manufacture resins and polyester staple fiber a three major
production facilities.

The company and its debtor-affiliates filed for Chapter 11
protection on Feb. 22, 2008 (Bankr. S.D. N.Y. Case No. 08-10595).   
Jonathan S. Henes, Esq., at Kirkland & Ellis, LLP, in New York
City, represents the Debtors.

Wellman Inc., in its bankruptcy petition, listed total assets
of $124,277,177 and total liabilities of $600,084,885, as of
Dec. 31, 2007, on a stand-alone basis.  Debtor-affiliate ALG Inc.,
listed assets between $500 million and $1 billion on a stand-alone basis
at the time of the bankruptcy filing.  Debtor-affiliates Fiber
Industries Inc., Prince Inc., and Wellman of Mississippi Inc., listed
assets between $100 million and $500 million at the time of their
bankruptcy filings.  On a consolidated basis, Wellman Inc., and its
debtor-affiliates listed $498,867,323 in assets and $684,221,655 in
liabilities as of Jan. 31, 2008.

The Debtors have until July 31, 2008, to exclusively file their
chapter 11 plan.  (Wellman Bankruptcy News, Issue No. 15;
Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000)


ZIFF DAVIS: Delivers May 2008 Monthly Operating Report
------------------------------------------------------

                       Ziff Davis Media, Inc.
             Summary of Cash Receipts & Disbursements
                 For the period ended May 2008

Beginning balance in all accounts                   $39,064,294

RECEIPTS:
Receipts from operations                              4,069,707
Subtenant & TSA                                         690,683
Interest income                                          31,155
ZDE case                                                 87,543
                                                   ------------
Receipts Total                                        4,879,090

DISBURSEMENTS:
Payroll, taxes, & benefits
     Payroll & payroll taxes                          2,037,494
     401k                                               142,367
     UHC & Metlife                                      146,009
     Flex spending                                            -
     Insurance benefit invoices                          37,896
Necessary expenses
     Rent NY & SF                                     1,284,630
     Operating expenses                               3,496,390
     Financial restructuring                            673,737
     Restricted account disbursements                12,500,030
     ZDE disbursements                                        -
                                                   ------------
Disbursements Total                                  20,318,555

Net Receipts (Disbursements)                        (15,439,465)

Ending Book Cash Balance                             23,624,829

Ending Bank Balance at 5/31/08
     Merrill Lynch - Main operating acct.            13,863,001
     Bank of New York - Legacy operating acct.                1
     Bank of New York - Overnight investment acct.    1,783,055
     U.S. Bank - Subscriptions receivable acct.          38,173
     Bank of New York - Advertising credit card         544,386
                        receivables acct.
     Merrill Lynch - Payroll acct.                       15,679
     Merrill Lynch - Flex acct.                               -
     Merrill Lynch - Refunds acct.                           24
     Merrill Lynch - Sweepstakes acct.                   17,088
     Merrill Lynch - Segregated acct.                 8,150,478
     JPMorgan Chase - Inactive                           45,151
     LaSalle Bank - Inactive                                  -
     U.S. Bank - Inactive                                10,000
                                                   ------------
Ending balance in all accounts                       24,467,040

Outstanding checks                                     (740,286)
Other reconciling items                                (101,925)
                                                   ------------
Ending Book Balance at 4/30/08                      $23,624,829
                                                   ============

Ziff Davis Media Inc. submitted to the Court, on June 15, 2008,
its Summary of Cash Receipts & Disbursements for the month of
May, but did not include a report on its Balance Sheet and
Statement of Operations.

A full-text copy of Ziff Davis' Monthly Operating Report for the
month of April is available for free at:    

           http://bankrupt.com/misc/ZiffMayMOR.pdf

                   About Ziff Davis Media, Inc.

Headquartered in New York city, New York, Ziff Davis Media, Inc.
-- http://www.ziffdavis.com/-- and its affiliates are integrated  
media companies serving the technology and videogame markets.  
They are information services and marketing solutions providers of
technology media, including publications, Websites, conferences,
events, eSeminars, eNewsletters, custom publishing, list rentals,
research and market intelligence.  Their US-based media properties
reach over 22 million people per month at work, home and play.  
They operate in three segments: the Consumer Tech Group, which
includes PC Magazine and pcmag.com; the Enterprise Group, which
includes eWEEK and eweek.com, and the Game Group, which includes
Electronic Gaming Monthly and 1up.com.

The company and six debtor-affiliates filed for bankruptcy
protection on March 5, 2008 (Bankr. S.D.N.Y., Case No. 08-10768).  
Carey D. Schreiber, Esq. at Winston & Strawn, LLP represents the
Debtors in their restructuring efforts.  An Official Committee of
Unsecured Creditors have been appointed in the case.  The Debtors'
schedules show total assets of $144,224,155 and total liabilities
of $441,406,545.

The Debtors delivered to the Court a joint chapter 11 plan of
reorganization on March 26, 2008.  The Court amended the Debtor's
second amended plan on June 17, 2008.  (Ziff Davis Bankruptcy
News, Issue No. 15, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstandor 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
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Each Tuesday edition of the TCR contains a list of companies with
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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,
USA.  Shimero R. Jainga, Ronald C. Sy, Joel Anthony G. Lopez,
Cecil R. Villacampa, Melanie C. Pador, Ludivino Q. Climaco, Jr.,
Loyda I. Nartatez, Tara Marie A. Martin, Philline P. Reluya,
Joseph Medel C. Martirez, Ma. Cristina I. Canson, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2008.  All rights reserved.  ISSN: 1520-9474.

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                    *** End of Transmission ***