TCR_Public/081115.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Saturday, November 15, 2008, Vol. 12, No. 273

                             Headlines

BOSCOV'S INC: Posts $3.6 Million Net Loss in Month Ended Oct. 4
CATHOLIC CHURCH: Fairbank's Monthly Operating Report for September
FEDERAL-MOGUL: Posts $35 Million Net Loss in August
FEDERAL-MOGUL: Posts $47.2 Million Net Loss in September
FRONTIER AIRLINES: Files Monthly Operating Report for September

INTERSTATE BAKERIES: Posts $5.7MM Loss in 4 Weeks Ended Sept. 20
LANDSOURCE COMMUNITIES: Amends Balance Sheet for August 2008
LANDSOURCE COMMUNITIES: Amends Operating Report for June 2008
LANDSOURCE COMMUNITIES: Amends Operating Report for July 2008
LANDSOURCE COMMUNITIES: Posts $11.6 Million Net Loss in September

LEXINGTON PRECISION: Posts $877,000 Net Loss in September 2008
SEA CONTAINERS: Files Operating Report for September 2008
TROPICANA ENTERTAINMENT: Posts $16 Million Net Loss in September
WASHINGTON MUTUAL: Files Initial Monthly Operating Report

                             *********

BOSCOV'S INC: Posts $3.6 Million Net Loss in Month Ended Oct. 4
----------------------------------------------------

                     Boscov's, Inc., et al.
                   Consolidated Balance Sheet
                     As of October 4, 2008

                             ASSETS

Current Assets:
Cash and cash equivalents                            $7,467,060
Deposits for utilities                                1,196,053
Trade accounts receivable                            19,192,911
Due from affiliated companies                                 0
Merchandise inventory                               231,416,000
Prepaid expenses & other current assets
Deferred taxes                                        8,026,109
Prepaid expenses                                      6,691,005
Prepaid rent Lehigh -- current                        3,371,766
Prepaid real estate taxes                             2,076,600
Inventory reserve -- Gordon Bros.                     1,300,000
Prepaid advertising                                     741,743
Deferred rent - asset -- current                        590,749
Prepaid rent Lehigh -- current                          275,000
Prepaid insurance                                       247,564
Prepaid commission Boscov -- current                    249,857
Prepaid miscellaneous taxes                             182,530
Loans and exchanges -- employees                         42,411
                                                    ------------
  Total current assets                              $283,067,359

Property and equipment
Fixtures, building improvements                     282,641,635
Leasehold improvements                               96,450,798
Construction in progress                              4,296,322
Property/equipment capital lease                              0
                                                    ------------
                                                     383,388,755
Less: accumulated depreciation                      238,458,616
                                                    ------------
Property and equipment, net                          144,930,139
Other assets                                          36,661,060
                                                    ------------
Total Assets                                        $464,658,558
                                                    ============

          Liabilities and Stockholders' Equity

Current Liabilities:
Accrued expenses                                     14,996,260
Accounts payable -- postpetition                     13,636,053
Unpaid prepetition rents                              4,017,549
Accrued professional fees and holdbacks               3,656,885
Fair value of derivative instruments                    371,533
Current maturities of long-term debt                    188,325
                                                    ------------
Total current liabilities                            36,866,605
                                                    ------------

DIP loan                                             118,777,595
Liabilities subject to compromise
Accounts payable and accrued
liabilities, unsecured                              116,455,210
Second lien term loan -- secured                     38,068,386
Long term debt -- secured                             6,986,521
                                                    ------------
Total DIP and Liabilities Subject to Compromise     280,287,712

Deferred income tax                                    2,047,523
Other long-term liabilities

Deferred revenue -- landlord allowance               36,263,946
Deferred rent liability -- non-current               18,115,774
Insurance reserve                                    17,559,542
Deferred revenue -- credit card gain                 14,688,119
Debt obligation Christiana                            5,315,580
Long-term liability Lehigh                            5,230,555
Deferred revenue -- Monmouth sale                     4,079,663
Deferred revenue -- Boscoverage                       2,797,171
Deferred revenue -- vendors                             250,000
                                                    ------------
Total long-term liabilities                         386,635,585
                                                    ------------
Total Liabilities                                    423,502,190

Stockholders' Equity
Preferred stock, Class A                                      0
Preferred stock, Class B                                      0
Preferred stock, Class C                                      0
Common stock                                             53,960
Common stock, non-voting                             28,484,091
Partners' capital/capital contribution                        0
Interest rate derivative equity adjustment             (218,832)
Additional paid-in capital                           12,307,096
Members' equity                                               0
Treasury stock                                     (180,562,771)
Retained earnings -- prepetition                    191,505,544
Current earnings -- postpetition                    (10,412,720)
                                                    ------------
  Total Stockholders' Equity                          41,156,368
                                                    ------------
Total Liabilities & Equity                          $464,658,558
                                                    ============

                     Boscov's, Inc., et al.
                    Statement of Operations
               From September 1 to October 4, 2008

                                                      Boscov's
                                       Boscov's      Department
                                     Inc., et al.    Store LLC
                                     ------------    -----------
Net sales                              $75,537,637   $75,537,637

Cost of sales:
Merchandise inventory                 199,008,000   199,008,000
                                      ------------   -----------
Purchases                              77,294,119    77,294,119
Less: Purchase discounts                        0             0
Net purchases                          77,294,119    77,294,119
Freight In                                430,349       430,349
Cost of purchases                      77,724,468    77,724,468
Merchandise available for sale        276,732,468   276,732,468
                                      ------------   -----------
Merchandise inventory,
end of period                         231,416,000   231,416,000
                                     ------------   -----------
Cost of goods sold                     45,316,468    45,316,468
                                      ------------   -----------
Gross margin                            30,221,169    30,221,169

Other income:
Other income                               60,927        60,927
Gain on sale of assets                     74,318         9,099
Royalties on trademark                          0      (763,959)
Royalties - Boscov's charge sales       1,545,437     1,545,437
                                      ------------   -----------
Total other income                      1,680,682       851,503

Occupancy and Buying Costs:
Rent/CAMs                               2,877,794     2,938,055
Buyers costs                            1,840,609     1,840,609
Utilities                               1,329,289     1,329,289
Real estate taxes                       1,123,063     1,123,063
Equipment rental                          645,706       645,706
Delivery expenses                         526,770       475,547
Store cleaning                            496,955       496,955
Employee discount                         213,133       213,133
Repairs                                   165,666       165,666
Maintenance                               115,471       115,471
Office equipment maintenance/
service contracts                         66,744        66,744
Loss prevention                            28,071        28,071
Trash                                      16,986        16,986
Boscov's rewards points                    14,616        14,616
Buying service                             10,452        10,452
Marking                                     7,997         7,997
Parking lot maintenance                     7,224         7,224
Storage trailers                            5,222             0
Store opening expenses                          0             0
Kitchen rent                              (17,943)      (17,943)
                                      ------------   -----------
Total occupancy & buying                9,473,825     9,477,640

Total Cost of Goods Sold
and Occupancy and Buying                54,790,293    54,794,108
                                      ------------   -----------
Gross profit                            22,428,026    21,595,032

Selling, general and
administrative expenses:
Payroll                                16,226,402    15,254,840
Newspaper                               4,168,133     4,168,133
Professional fees                       2,062,576     2,056,476
Payroll taxes                           1,121,569     1,103,400
Hospitalization                           847,144       856,831
Television                                550,189       550,189
Bank card charges                         548,819       548,735
Internet                                  448,535       448,535
Insurance                                 389,291       389,291
Electronic data processing                330,852       330,852
Insurance claims -- prior period          235,434       235,434
Warehouse trucks                          216,800       282,723
Credit expense                            207,530       207,530
Wrapping                                  198,749       198,749
Promotional gift cards                    144,101       144,101
Telephone                                 139,353       139,133
Automobile expense                        120,796       117,528
Miscellaneous taxes                       112,810       112,663
Outside services                          104,104       104,104
Miscellaneous                              95,688        95,640
Bank service charge                        92,411        92,382
Supplies                                   63,557        63,558
Radio                                      61,107        61,107
Travel                                     51,344        51,344
Marketing                                  48,894        48,894
Cleaning supplies                          44,888        44,888
Office supplies                            44,445        44,445
Group life insurance                       42,730        42,730
Employee expense                           40,520        40,520
Display                                    36,255        36,255
Free bus and parking                       25,509        25,509
Postage                                    14,546        14,546
Form and equipment supplies                11,447        11,447
Subscriptions                               6,499         6,499
Check scan                                  5,013         5,013
Employee expense -- classified ads            734           734
Supplies -- print shop                        569           569
Administrative fees                           500        (2,000)
Collection expense                            167           167
Accounting fees                            (2,789)       (2,789)
Third party expense reimbursement          (5,972)       (5,972)
Store error dist.                         (13,676)      (13,676)
Contributions                             (33,014)      (33,014)
Gift cards                                (45,964)      (45,964)
Leased department advertising             (85,631)      (85,631)
Liquidation results                      (195,710)     (195,710)
PM income                                (258,137)     (258,137)
Co-op advertising                      (1,301,988)   (1,301,988)
Buyers costs                           (1,840,609)   (1,840,609)
                                      ------------   -----------
Total Selling, General
and Admin. Expenses                    25,076,519    24,150,004

Depreciation                             1,716,311     1,681,433
Deferred financing amortization            216,015       216,015
Interest expense                         1,110,415     1,423,381
Profit sharing / 401K match                      0             0
                                      ------------   -----------
Income (Loss) before taxes              (5,691,234)   (5,875,802)
Provision for income taxes              (2,134,213)        3,800
                                      ------------   -----------
Net income (loss)                      ($3,557,021)  ($5,879,602)
                                      ============   ===========

The Debtors also filed with the Court a summary of their cash
receipts and disbursements for September 2008, a copy of which is
available for free at:

http://bankrupt.com/misc/CashFlows_Sept2008_Boscovs.pdf

                       About Boscov's Inc.

Headquartered in Reading, Pennsylvania, Boscov's Inc. --
http://www.boscovs.com/-- is America's largest family-owned
independent department store, with 49 stores in Pennsylvania, New
York, New Jersey, Maryland, Delaware and Virginia.

Boscov's Inc. and its debtor-affiliates filed for Chapter 11
protection on Aug. 4, 2008 (Bankr. D. Del. Case No.: 08-11637).
Judge Kevin Gross presides over the cases.

David G. Heiman, Esq., and Thomas A. Wilson, Esq., at Jones Day,
serve as the Debtors' lead counsel.  The Debtors' financial
advisor is Capstone Advisory Group and their investment banker is
Lehman Brothers, Inc.  The Debtors' claims agent is Kurtzman
Carson Consultants L.L.C.

Boscov's listed assets of $538 million and liabilities of
$479 million in its bankruptcy filing.

(Boscov's Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


CATHOLIC CHURCH: Fairbank's Monthly Operating Report for September
------------------------------------------------------------------

               Catholic Bishop of Northern Alaska
                 Statement of Financial Position
                    As of September 30, 2008

                                              CBNA      Held for
ASSETS                                       Total       Others
                                             -----      --------
Cash and cash equivalents                 $355,038       $86,101
Investments:
   Valuables in safe                           168             -
   Trust account @ market                  790,199             -
   457 Plan assets @ market                      -       145,331
   Endowment Fund @ market                       -    14,698,812
   Endowment Fund-earnings @ market       (819,862)            -
   Stocks                                        -             -
   Limited partnerships                    261,324             -
Accounts receivable, net of allowance:
   Tuition, fees and others              1,386,683             -
   For parishes and school                 107,976             -
   Other                                     7,131             -
Notes and other receivables                347,421             -
Grants pledged                             125,000             -
Fixed assets, net at cost:
   Land and building                     7,780,155             -
   Aircraft                                340,726             -
   Equipment                                     -             -
Other assets                               201,063             -
                                        ----------    ----------
   Total Assets                        $10,883,028   $14,930,245

LIABILITIES AND NET ASSETS

Liabilities:
Accounts payable/accrued liabilities      $509,499             -
Notes payable                              216,966             -
Benefits payable                            76,837             -
Deferred revenue                         1,517,053             -
Annuities payable                          215,684             -
Other liabilities                           24,061             -
Payroll-related liabilities:
   Payroll taxes                            56,981             -
   General vacation accrual account         16,339             -
   Accrued leave                           229,691             -
Insurance:
   Long term disability                        415             -
   Insurance deposits A/R                  174,479             -
   Insurance reserves expense               40,562             -
   Indemnity insurance reserves                 69             -
   Medical/Dental payroll deduction        306,605             -
CBNA building loan                               -             -
                                        ----------    ----------
   Total Liabilities                     3,385,248             -
                                        ----------    ----------
Total net assets                         7,497,780    14,930,245
                                        ----------    ----------
   Total Liabilities and Net Assets    $10,883,028   $14,930,245
                                        ==========    ==========

               Catholic Bishop of Northern Alaska
                     Statement of Activities
             For the month ending September 30, 2008

                                              CBNA      Held for
                                             Total       Others
Support and revenue:                         -----      --------
   Parish assessments                            -             -
   Tuition, net of tuition assistance     $168,316             -
   Curricular income                        17,103             -
   Donations                               607,098             -
   Investment income                      (797,011)    ($129,182)
   Other income                             16,939         3,300
   Temporarily restricted gifts             16,687             -
                                        ----------    ----------
   Total support and revenue                29,133      (125,882)

Expenses:
   Operating expenses                      107,794             -
   Supplies                                 19,841             -
   Repair & Maintenance                     (6,145)            -
   Utilities                                30,378             -
   Insurance                                10,104             -
   Staff Expenses:
      Salaries & Wages                     403,123             -
      Payroll Taxes                         25,382             -
      Employee Benefits                     92,098             -
   Curricular Expenses                      14,026             -
   Recruiting, advertising and PRs          10,268             -
   Travel Expenses                          16,348             -
   Student related expenses                  2,366             -
   Contributions                                 -             -
   Professional and technical fees          25,222             -
   Investment services                       9,984        $1,522
   Subsidies                               149,985             -
   Rental/Lease Expense                     65,908             -
   Assessments                               1,252             -
   Fund Raising Expense                     20,369             -
   Radio Programming Expense                 4,995             -
   Radio Technical Dept. Expenses            9,663             -
   Miscellaneous Expense                     1,586             -
                                        ----------    ----------
   Total General                         1,014,555         1,522

   Funds released fr. restricted funds           -             -
   Net change in designated funds                -             -
                                        ----------    ----------
   Total Expenses                        1,014,555         1,522
                                        ----------    ----------
Increase (decrease) in net assets         (985,421)     (127,405)
                                        ----------    ----------

Re-organizational costs                     18,752             -

Increase (decrease) in net assets       ----------    ----------

after Re-org costs                      (1,004,174)      127,405

Net assets:
   Beginning of month                    8,501,954    14,802,840
                                        ----------    ----------
   End of month                         $7,497,780   $14,930,245
                                        ==========    ==========

               Catholic Bishop of Northern Alaska
                 Cash Receipts and Disbursements
             For the month ending September 30, 2008

                                              CBNA      Held for
                                             Total       Others
                                             -----      --------
Beginning balance - February 2008         $485,237       $77,681

Total receipts - prior general
   account reports                       6,623,243       761,205
Less total disbursements                 6,938,467       786,697
                                        ----------    ----------
Beginning balance - August 31, 2008        170,012        52,188

Receipts during current period:
   Funds received by CSF from CBNA           8,333             -
   Funds collected from others             227,186       227,186
   Transfers between internal accounts      62,271             -
   Accounts receivable - post filing       236,622             -
   Transfers from investment accounts      200,000             -
   Custodial funds                          75,074        75,074
   Funds received by CBNA from KNOM         54,470             -
   Funds received from Catholic Schools     34,204             -
   Interest & dividends                        619             -
   Donations                               604,779             -
   Payment refund/return                    18,803             -
   Weather service income                      150             -
   Restricted funds and endowment gifts     17,437             -
   Other income/fees                         4,524             -
   Co-curricular income                      8,423             -
   Curricular income                            93             -
   Miscellaneous                             3,508             -
                                        ----------    ----------
   Total receipts this period            1,556,503       302,260
                                        ----------    ----------
Balance                                  1,726,515       354,449

Less total disbursements:
   Transfers to Catholic Schools            22,690             -
   Transfers from KNOM to CBNA              54,470             -
   Transfers between internal accounts      62,271             -
   Transfers to CBNA from CSF               50,590             -
   Custodial funds                          14,685        14,685
   Administrative                            3,264             -
   Co-curricular expense                    10,490             -
   Curricular expense                        5,855             -
   Funds disbursed for others               68,869        68,869
   Bank fees and charges                       768             -
   Interest expense                            753             -
   Programming - News service                2,906             -
   Wages & salaries                        419,186             -
   Employee benefits                        14,389             -
   Fundraising                              20,369             -
   Mission & program support                27,175             -
   Equipment & supplies                     51,346             -
   Telephone/Internet                          766             -
   Staff development                        12,535             -
   Utilities                                37,665             -
   Refunds                                   1,516             -
   Services & insurance                    111,978             -
   US Trustees fees                              -             -
   Education expenses                       10,493             -
   Maintenance/repairs                      18,868             -
   Building supplies and expenses          148,141             -
   Annuities                                 2,257             -
   School supplies                           6,694             -
   Travel                                   19,006             -
   NSF's                                        90             -
   Postage                                   2,225             -
   Professional fees                        14,319             -
   Printing and copying                      1,150             -
   Rent                                     54,438             -
   Dues/Fees                                 6,492             -
   Miscellaneous                             8,250             -
                                        ----------    ----------
   Total disbursements this period       1,286,975        83,554
                                        ----------    ----------
Ending balance - September 30, 2008       $439,540      $270,894
                                        ==========    ==========

                    About Diocese of Fairbanks

The Roman Catholic Diocese of Fairbanks in Alaska, aka Catholic
Bishop of Northern Alaska, aka Catholic Diocese of Fairbanks, aka
The Diocese of Fairbanks, aka CBNA - http://www.cbna.info/--
filed for chapter 11 bankruptcy on March 1, 2008 (Bankr. D. Alaska
Case No. 08-00110).  Susan G. Boswell, Esq., at Quarles & Brady
LLP represents the Debtor in its restructuring efforts.  Michael
R. Mills, Esq., of Dorsey & Whitney LLP serves as the Debtor's
local counsel and Cook, Schuhmann & Groseclose Inc. as its special
counsel.  Judge Donald MacDonald, IV, of the United States
Bankruptcy Court for the District of Alaska presides over
Fairbanks' Chapter 11 case.  The Debtor's schedules show total
assets of $13,316,864 and total liabilities of $1,838,719.

The church's plans to file its bankruptcy plan and disclosure
statement on July 15, 2008.  Its exclusive plan filing period
expires on Jan. 15, 2009.  (Catholic Church Bankruptcy News, Issue
No. 133; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


FEDERAL-MOGUL: Posts $35 Million Net Loss in August
---------------------------------------------------

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

                            Assets

Cash and equivalents                                      $593.1
Accounts receivable                                        601.0
Inventories                                                460.6
Deferred taxes                                             224.0
Prepaid expenses and other current assets                   42.1
                                                        --------
Total current assets                                     1,920.9

Summary of Unpaid Postpetition Debits                       66.0
Intercompany Loans Receivable (Payable)                    (76.2)
                                                        --------
Intercompany Balances                                      (10.1)

Property, plant and equipment                              719.9
Goodwill                                                       -
Other intangible assets                                        -
Insurance recoverable                                          -
Other non-current assets                                   439.9
                                                        --------
Total Assets                                            $3,070.4
                                                        ========

             Liabilities and Shareholders' Equity

Short-term debt                                            $29.6
Accounts payable                                           281.8
Accrued compensation                                        57.5
Restructuring and rationalization reserves                   5.0
Current portion of asbestos liability                          -
Interest payable                                             8.2
Other accrued liabilities                                  233.7
                                                        --------
Total current liabilities                                  615.8

Long-term debt                                           2,767.4
Post-employment benefits                                   570.3
Other accrued liabilities                                  798.9
Liabilities subject to compromise                           (0.1)

Shareholders' equity:
  Preferred stock                                        1,023.2
  Common stock                                             120.5
  Additional paid-in capital                             7,929.6
  Accumulated deficit                                  (10,973.7)
  Accumulated other comprehensive income                   218.4
  Other                                                        -
                                                        --------
Total Shareholders' Equity                              (1,682.0)
                                                        --------
Total Liabilities and Shareholders' Equity              $3,070.4
                                                        ========

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

Net sales                                                 $231.2
Cost of products sold                                      194.2
                                                        --------
Gross margin                                                37.0

Selling, general & administrative expenses                 (36.3)
Amortization                                                   -
Reorganization items                                        (0.7)
Fresh Start Accounting expense                              55.7
Interest income (expense), net                             (12.9)
Other income (expense), net                                (13.3)
                                                        --------
Earnings before Income Taxes                                29.5

Income Tax (Expense) Benefit                                 5.5
                                                        --------
Earnings before cumulative effect of change
  in accounting principle                                   35.0

Cumulative effect of change in accounting principle            -
                                                        --------
Net Earnings (Loss)                                        $35.0
                                                        ========

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

Cash Provided From (Used By) Operating Activities:
  Net earnings (loss)                                      $35.0

  Adjustments to reconcile net earnings (loss) to net cash:
  Depreciation and amortization                              5.4
  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 accounting principle          -
  Change in post-employment benefits                         0.7
  Decrease (increase) in accounts receivable                15.3
  Decrease (increase) in inventories                         3.5
  Increase (decrease) in accounts payable                   17.0
  Change in other assets & other liabilities               (52.3)
  Change in restructuring charge                            (0.1)
  Refunds (payments) against asbestos liability                -
                                                        --------
Net Cash Provided From Operating Activities                 24.4

Cash Provided From (Used By) Investing Activities:
  Expenditures for property, plant & equipment              (5.0)
  Proceeds from sale of property, plant & equipment            -
  Proceeds from sale of businesses                             -
  Business acquisitions, net of cash acquired                  -
  Other                                                     (9.2)
                                                        --------
Net Cash Provided From (Used By) Investing Activities      (14.2)

Cash Provided From (Used By) Financing Activities:
  Increase / (decrease) in debt                              1.9
  Sale (repurchase) of accounts receivable
     under securitization                                      -
  Dividends                                                    -
  Other                                                        -
                                                        --------
Net Cash Provided From Financing Activities                  1.9

Increase (Decrease) in Cash and Equivalents                 12.1

Cash and equivalents at beginning of period                581.0
                                                        --------
Cash and equivalents at end of period                     $593.1
                                                        ========

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. 175; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


FEDERAL-MOGUL: Posts $47.2 Million Net Loss in September
--------------------------------------------------------

              Federal-Mogul Global, Inc., et al.
                    Unaudited Balance Sheet
                   As of September 30, 2008
                         (In millions)

                            Assets

Cash and equivalents                                      $539.0
Accounts receivable                                        616.6
Inventories                                                452.7
Deferred taxes                                             221.4
Prepaid expenses and other current assets                   62.9
                                                        --------
Total current assets                                     1,892.6

Summary of Unpaid Postpetition Debits                       56.3
Intercompany Loans Receivable (Payable)                    (76.3)
                                                        --------
Intercompany Balances                                      (20.0)

Property, plant and equipment                              715.0
Goodwill                                                       -
Other intangible assets                                        -
Insurance recoverable                                          -
Other non-current assets                                   448.3
                                                        --------
Total Assets                                            $3,035.9
                                                        ========

             Liabilities and Shareholders' Equity

Short-term debt                                            $29.6
Accounts payable                                           294.4
Accrued compensation                                        58.7
Restructuring and rationalization reserves                  10.5
Current portion of asbestos liability                          -
Interest payable                                             8.5
Other accrued liabilities                                  260.3
                                                        --------
Total current liabilities                                  662.0

Long-term debt                                           2,761.9
Post-employment benefits                                   559.2
Other accrued liabilities                                  814.9
Liabilities subject to compromise                           (0.1)

Shareholders' equity:
  Preferred stock                                        1,023.2
  Common stock                                              91.0
  Treasury shares                                          (16.7)
  Additional paid-in capital                             7,929.0
  Accumulated deficit                                  (10,966.6)
  Accumulated other comprehensive income                   178.2
  Other                                                        -
                                                        --------
Total Shareholders' Equity                              (1,761.9)
                                                        --------
Total Liabilities and Shareholders' Equity              $3,035.9
                                                        ========

              Federal-Mogul Global, Inc., et al.
               Unaudited Statement of Operations
            For the Month Ended September 30, 2008
                         (In millions)

Net sales                                                 $235.0
Cost of products sold                                      191.4
                                                        --------
Gross margin                                                43.6

Selling, general & administrative expenses                 (26.5)
Amortization                                                   -
Reorganization items                                        (0.8)
Fresh Start Accounting expense                             (61.3)
Interest income (expense), net                             (15.3)
Other income (expense), net                                 13.0
                                                        --------
Earnings before Income Taxes                               (47.4)

Income Tax (Expense) Benefit                                 0.1
                                                        --------
Earnings before cumulative effect of change
  in accounting principle                                  (47.2)

Cumulative effect of change in acctg. principle                -
                                                        --------
Net Earnings (Loss)                                       ($47.2)
                                                        ========

              Federal-Mogul Global, Inc., et al.
               Unaudited Statement of Cash Flows
            For the Month Ended September 30, 2008
                         (In millions)

Cash Provided From (Used By) Operating Activities:
  Net earnings (loss)                                     ($47.2)

  Adjustments to reconcile net earnings (loss) to net cash:
  Depreciation and amortization                             11.5
  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                       (11.1)
  Decrease (increase) in accounts receivable               (16.2)
  Decrease (increase) in inventories                         7.5
  Increase (decrease) in accounts payable                   13.5
  Change in other assets & other liabilities                (4.4)
  Change in restructuring charge                             5.5
  Refunds (payments) against asbestos liability                -
                                                        --------
Net Cash Provided From Operating Activities                (40.9)

Cash Provided From (Used By) Investing Activities:
  Expenditures for property, plant & equipment              (6.1)
  Proceeds from sale of property, plant & equipment            -
  Proceeds from sale of businesses                             -
  Business acquisitions, net of cash acquired                  -
  Other                                                     (1.5)
                                                        --------
Net Cash Provided From (Used By) Investing Activities       (7.6)

Cash Provided From (Used By) Financing Activities:
  Increase / (decrease) in debt                             (5.5)
  Sale (repurchase) of accounts receivable
     under securitization                                   (0.1)
  Dividends                                                    -
  Other                                                        -
                                                         --------
Net Cash Provided From Financing Activities                 (5.6)

Increase (Decrease) in Cash and Equivalents                (54.1)

Cash and equivalents at beginning of period                593.1
                                                        --------
Cash and equivalents at end of period                     $539.0
                                                        ========

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. 175; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


FRONTIER AIRLINES: Files Monthly Operating Report for September
---------------------------------------------------------------
Frontier Airlines Holdings, Inc. (OTC: FRNTQ) (BULLETIN BOARD:
FRNTQ) filed its Monthly Operating Report for September 2008.
Frontier reported an operating loss of $10.4 million and a
consolidated net loss of $20.8 million for the month of September
2008.  For the second fiscal quarter ended Sept. 30, 2008, the
company reported a $5.8 million operating loss and a $29.7 million
consolidated net loss.

Frontier's September results included $7.0 million in
reorganization costs, $1.4 million in tax expense related to the
amount expected to be due on the realized gain on aircraft sales
and $2.1 million in unrealized losses on fuel hedges.  Included
in the $7.0 million in reorganization costs were:

     -- $13.5 million for a non-cash equipment write-off;

     -- $1.8 million related to the write-off of debt issuance
        cost on convertible bonds; and

     -- $1.6 million in professional fees related to the
        reorganization.

These items were offset by recorded gains of $9.9 million from two
aircraft sales during the month and a gain on a contract
termination and other net gains related to settlements.

Contributing to Frontier's operating loss was a 54 percent
increase in fuel costs per gallon, excluding fuel hedging
activities, as compared to the same period last year as well as a
14 percent decrease in capacity year-over-year.

"Despite the net loss, we are pleased with the results of our
restructuring plan and continue to have success managing our
liquidity," said Frontier CEO Sean Menke.  "Our cash and short-
term investments remained relatively stable in September, which is
a direct result of our diligent cash management efforts, our
continued successes with cost management and the realized proceeds
from our aircraft sales."

             FRONTIER AIRLINES HOLDINGS, INC., ET AL.
          Unaudited Condensed Consolidated Balance Sheet
                    As of September 30, 2008

                              ASSETS


CURRENT ASSETS:
   Cash and cash equivalents                         $72,671,000
   Short-term investments                              3,740,000
   Restricted investments                            131,037,000
   Receivables, net of an allowance for
    doubtful accounts                                 41,533,000
   Security and other deposits                                 -
   Prepaid expenses and other assets                  23,775,000
   Inventories, net of allowance                      19,500,000
   Assets held for sale                                  814,000
                                                  --------------
Total current assets                                 293,070,000

Property and other equipment, net                    721,524,000
Security and other deposits                           34,927,000
Aircraft pre-delivery payments                         3,497,000
Restricted investments                                 2,987,000
Deferred loan expenses and other assets                6,879,000
                                                  --------------
Total Assets                                      $1,062,884,000
                                                  ==============

              LIABILITIES AND SHAREHOLDERS' EQUITY

Liabilities not subject to compromise:

CURRENT LIABILITIES:
   Accounts payables                                 $34,207,000
   Air traffic liability                             187,781,000
   Other accrued expenses                             80,850,000
   Income tax payable                                  1,375,000
   Deferred revenue and other current liabilities     20,984,000
   PDP financing                                               -
   DIP financing                                      30,000,000
                                                  --------------
Total current liabilities not
subject to compromise                               355,197,000

Deferred revenue and other liabilities                22,091,000
                                                  --------------
Total liabilities not subject to compromise          377,288,000

Liabilities subject to compromise                    619,671,000
                                                  --------------
Total Liabilities                                    996,959,000

STOCKHOLDERS' DEFICIT:
   Preferred stock                                             -
   Common stock                                           37,000
   Additional paid-in capital                        196,415,000
   Unearned ESOP shares                                 (206,000)
   Other comprehensive loss                                    -
   Accumulated deficit                              (130,321,000)
                                                  --------------
Total Stockholders' Equity                            65,925,000
                                                  --------------
Total Liabilities and Stockholders' Equity        $1,062,884,000
                                                  ==============

             FRONTIER AIRLINES HOLDINGS, INC., ET AL
     Unaudited Condensed Consolidated Statement of Operations
                Month Ended September 30, 2008

Revenues:

   Passenger                                         $91,663,000
   Cargo                                                 584,000
   Other                                               3,618,000
                                                  --------------
Total revenues                                        95,865,000


Operating expenses:
   Flight operations                                  13,261,000
   Aircraft fuel                                      48,622,000
   Aircraft lease                                      9,931,000
   Aircraft and traffic servicing                     14,100,000
   Maintenance                                         7,613,000
   Promotion and sales                                 3,489,000
   General and administrative                          5,822,000
   Operating expenses -- regional partner                      -
   Loss (gain) on sales of assets, net                   (34,000)
   Employee separation and other charges                       -
   Depreciation                                        3,422,000
                                                  --------------
Total operating expenses                             106,226,000
                                                  --------------
Operating loss                                       (10,361,000)

Non-operating income (expense):

   Interest income                                       465,000
   Interest expense                                   (2,406,000)
   Loss from early extinguishment of debt               (106,000)

   Other, net                                            (57,000)
                                                  --------------
Total non-operating expense, net                      (2,104,000)

Loss before reorganization items & income taxes      (12,465,000)
   Reorganization items                                7,024,000
   Income taxes                                        1,355,000
                                                  --------------
Net Loss                                            ($20,844,000)
                                                  ==============

             FRONTIER AIRLINES HOLDINGS, INC., ET AL.
     Unaudited Condensed Consolidated Statement of Cash Flow
                 Month Ended September 30, 2008

Cash flows from operating activities:

   Net Loss                                         ($20,844,000)

   Adjustments to reconcile net loss to net cash
   used in operating activities:
     ESOP and stock option compensation expense           16,000
     Depreciation and amortization                     3,771,000
     Assets beyond economic repair                       177,000
     Mark to market losses on derivative contracts     2,080,000
     Proceeds received for settled
      derivative contracts                                     -
     Loss (Gain) on disposal of equipment
      and other assets, net                              (34,000)
     Loss on early extinguishment of debt                106,000
     Unrealized loss on short-term investments                 -
   Changes in operating assets and liabilities:
     Restricted investments                            7,072,000
     Receivables                                      12,142,000
     Security and other deposits                      (6,110,000)
     Prepaid expenses and other assets                 3,505,000
     Inventories                                      (3,717,000)
     Other assets                                         24,000
     Accounts payable                                (11,981,000)
     Air traffic liability                            (6,742,000)
     Other accrued expenses                           (8,903,000)
     Deferred revenue and other liabilities              984,000
     Reorganization items                              7,024,000
                                                  --------------
Net cash used in operating activities                (21,430,000)

Cash flows from reorganization activities
   Net cash used in reorganization activities         (1,033,000)
                                                  --------------
Total net cash used in operating activities          (22,463,000)

Cash flows from investing activities:
   Aircraft purchase deposits made                             -
   Aircraft purchase deposits returned                         -
   Sale of short-term investment                               -
   Proceeds from the sale of property and
    equipment and assets held for sale                    44,000
   Capital expenditures                               (1,567,000)
   Proceeds from the sale of aircraft
    reorganization activity                           55,000,000
                                                  --------------
Net cash provided by investing activities             53,477,000

Cash flows from financing activities:
   Proceeds from DIP financing (postpetition)                  -
   Extinguishment of long-term borrowings                      -
   Principal payments on long-term borrowings         (2,490,000)

   Extinguishment of long-term borrowings --
    reorganization activity                          (30,037,000)
   Principal payments on short-term borrowing                  -
   Payment of financing fees                              (2,000)
                                                  --------------
Net cash used in financing activities                (32,529,000)

Decrease in cash and cash equivalents                 (1,515,000)
Cash and cash equivalents at beginning of period      74,186,000
                                                  --------------
Cash and cash equivalents at end of period           $72,671,000
                                                  ==============

                 About Frontier Airlines Inc.

Headquartered in Denver, Colorado, Frontier Airlines Inc. --
http://www.frontierairlines.com/-- provides air transportation
for passengers and freight.  It operates jet service carriers
linking Denver, Colorado hub to 46 cities coast-to-coast, 8 cities
in Mexico, and 1 city in Canada, as well as provide service from
other non-hub cities, including service from 10 non-hub cities to
Mexico.

The Debtor and its debtor-affiliates filed for Chapter 11
protection on April 10, 2008, (Bankr. S.D. N.Y. Case No.:
08-11297 thru 08-11299.)  Benjamin S. Kaminetzky, Esq., and Hugh
R. McCullough, Esq., at Davis Polk & Wardwell, represent the
Debtors in their restructuring efforts.  Togul, Segal & Segal
LLP is the Debtors' Conflicts Counsel, Faegre & Benson LLP is
the Debtors' Special Counsel, and Kekst and Company is the
Debtors' Communications Advisors.

(Frontier Airlines Bankruptcy News, Issue No. 26; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


INTERSTATE BAKERIES: Posts $5.7MM Loss in 4 Weeks Ended Sept. 20
----------------------------------------------------------------

       Interstate Bakeries Corporation and Subsidiaries
        Unaudited Consolidated Monthly Operating Report
             Four Weeks Ended September 20, 2008

REVENUE

Gross Income                                        $216,956,324
Less Cost of Goods Sold
  Ingredients, Packaging & Outside Purchasing         61,701,635
  Direct & Indirect Labor                             35,259,199
  Overhead & Production Administration                10,478,169
                                                   -------------
     Total Cost of Goods Sold                        107,439,003
                                                   -------------
         Gross Profit                                109,517,321
                                                   -------------
OPERATING EXPENSES

Owner-Draws/Salaries                                           0
Selling & Delivery Employee Salaries                  48,594,872
Advertising and Marketing                              1,679,412
Insurance (Property, Casualty, & Medical)             11,517,286
Payroll Taxes                                          4,100,826
Lease and Rent                                         2,882,039
Telephone and Utilities                                1,006,298
Corporate Expense (Including Salaries)                 6,873,900
Other Expenses                                        29,861,210
                                                   -------------
    Total Operating Expenses                         106,575,843
                                                   -------------
EBITDA                                                 2,941,478

Restructuring & Reorganization Charges                  (305,315)
Depreciation and Amortization                          4,502,810
Abandonment                                               44,744
Property & Equipment Impairment                                0
Other(Income)/Expense                                    (37,148)
Gain/Loss Sale of Property                                     0
Interest Expense                                       4,554,886
                                                   -------------
    Operating Income (Loss)                           (5,818,499)
Income Tax Expense (Benefit)                             (77,704)
                                                   -------------
NET Income (Loss)                                    ($5,740,795)
                                                   =============

CURRENT ASSETS
  Accounts Receivable at end of period              $135,082,545
  Increase (Dec.) in Accounts Receivable               1,542,750
  Inventory at end of period                          64,217,828
  Increase (Decrease) in Inventory for period          1,557,624
  Cash at end of period                               21,829,847
  Increase (Decrease) in Cash for period                (824,763)
  Restricted Cash                                     21,090,158
  Increase (Dec.) in Restricted Cash for period           12,225

LIABILITIES
  Increase (Decrease) in Liabilities
     Not Subject to Compromise                         7,193,969
  Increase (Decrease) in Liabilities
     Subject to Compromise                                (3,856)
  Taxes payable:
     Federal Payroll Taxes                             4,063,342
     State/Local Payroll Taxes                         3,051,533
     State Sales Taxes                                   796,340
     Real Estate and Personal Property Taxes           7,549,142
     Other                                             2,842,837
                                                   -------------
     Total Taxes Payable                             $17,943,194
                                                   =============

                          About IBC

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 eight of its subsidiaries and 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% senior subordinated convertible notes due Aug. 15, 2014) in
total debts.

The Debtors' filed their Chapter 11 Plan and Disclosure Statement
on Nov. 5, 2007.  Their exclusive period to file a chapter 11 plan
expired on Nov. 8, 2007.  On Jan. 25, 2008, the Debtors filed
their First Amended Plan and Disclosure Statement.  On Jan. 30,
2008, the Debtors received court approval of the first amended
Disclosure Statement.  IBC did not receive any qualifying
alternative proposals for funding its plan of reorganization in
accordance with the court-approved alternative proposal
procedures.  As a result, no auction was held on Jan. 22, 2008, as
would have been required under those procedures.

The Debtors, on Oct. 4, 2008, filed another Plan of
Reorganization, which contemplates IBC's emergence from Chapter 11
as a stand-alone company.  The filing of the Plan was made in
connection with the plan funding commitments, on Sept. 12, 2008,
from an affiliate of Ripplewood Holdings L.L.C. and from
Silver Point Finance, LLC, and Monarch Master Funding Ltd.

(Interstate Bakeries Bankruptcy News, Issue No. 117; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


LANDSOURCE COMMUNITIES: Amends Balance Sheet for August 2008
------------------------------------------------------------
LandSource Communities Development LLC and its debtor-affiliates
corrected the Consolidated Balance Sheet and the Consolidated
Statements of Operations of their monthly operating report for
the month of August 2008.

             LandSource Communities Development, LLC
                   Consolidated Balance Sheet
                      As of August 31, 2008

Assets

   Cash                                          $11,140,038
   Receivables                                    36,536,034
   Inventories                                 1,373,763,518
   Operating Properties, net                      86,205,063
   Investment in unconsolidated entities          21,940,405
   Other assets                                   47,363,152
                                              --------------
      Total Assets                            $1,576,948,210
                                              ==============
Liabilities and Members' Capital

Liabilities

Prepetition
   Debt- Principal                              $246,414,305
   Debt - Accrued interest                        11,756,566
   Accounts payable                               29,652,806
   Golf course / Other deposits                    7,889,156
   Payables to affiliates                         59,345,814
   Refundable Deposits owed affiliate             26,469,916
   Tenant deposits                                   463,797
   Other                                           4,391,489
                                                 -----------
      Sub-total                                  386,383,849

Postpetition
   Accounts payable                                3,520,426
   Property tax accrual                            2,375,471
   Payables to affiliates                            582,570
                                                   ---------
      Sub-total                                    6,478,467

Others
   Debt- DIP Revolver                             14,672,624
   Debt - DIP Term Roll-Up                     1,032,853,563
   Development accruals                           38,161,763
   Accrued Employee Related Benefits               7,775,271
   Non-qualified Pension Plan Accruals             5,685,622
   Reserves - school fees, energy remediation     15,119,129
   Non-refundable deposits                        30,900,799
   Deferred Revenue                               91,169,701
   Other                                           3,435,433
                                               -------------
      Sub-total                                1,239,773,905

   Members' Capital                              (55,688,102)
                                              --------------
   Total Liabilities and Members' Capital     $1,576,948,119
                                              ==============

  Other Operations, net
   Equity in earnings of unconsolidated entities   ($151,465)
   Rental operations                                  43,912
   Valencia Water Company                                  0
   Club operations                                  (141,166)
   Interest income                                    17,823
   Interest expense                               (6,653,548)
   Loss on debt restructuring                              0
   Loss on interest rate swap termination                  0
   Miscellaneous                                     534,398
                                                   ---------
      Total Other Operations, net                 (6,050,046)
                                                  ----------
Net Earnings (Loss)                               $5,235,053
                                                  ==========

             LandSource Communities Development, LLC
              Consolidated Statements of Operations
                    Month Ended August 31, 2008

Statistical Information
   Homesites sold to related parties                       0
   Homesites sold to third parties                         0
   Acreage sold to related parties                         0
   Acreage sold to third parties                           0
   Homes sold to third parties                             0

Land Sale Operations
   Sales related parties                          $2,216,575
   Sales to third parties                            357,955
                                                   ---------
      Total Land Sale Revenue                      2,574,530
                                                   ---------
   Cost of sales to related parties                1,932,242
   Cost of sales to third parties                     57,342
                                                   ---------
      Total Cost of Land Sales                     1,989,584
                                                   ---------
Gross Margin on Land Sales Operations                584,946

Home Sale Operations
   Sales                                                   0
   Cost of sales                                           0
                                                   ---------
Gross Margin on Home Sale Operations                       0
                                                   ---------
Operating Cost and Expenses
   Field, selling, general & administrative        3,191,756
   Management fees to related parties            (13,891,909)
                                                  ----------
      Total Operating Costs and Expenses         (10,700,153)
                                                  ----------
Other Operations, net
   Equity in earnings of unconsolidated entities    (151,465)
   Rental operations                                 343,912
   Valencia Water Company                                  0
   Club operations                                  (141,166)
   Interest income                                    17,823
   Interest expense                               (6,653,548)
   Loss on debt restructuring                              0
   Loss on interest rate swap termination                  0
   Miscellaneous                                     534,398
                                                  ----------
      Total Other Operations, net                 (6,050,046)
                                                  ----------
Net Loss                                          $5,235,053
                                                  ==========

                    About LandSource Communities

LandSource Communities Development LLC, which operates in Arizona,
California, Florida, New Jersey, Nevada and Texas, is involved in
the planning and development of master planned communities and
transforming undeveloped land into ready-to-build home sites and
commercial properties.  With the exception of one development
project in Marina del Rey, California, LandSource does not build
homes or commercial properties.

LandSource and 20 of its affiliates filed for chapter 11
bankruptcy protection before the U.S. Bankruptcy Court for the
District of Delaware on June 8, 2008 (Lead Case No. 08-11111).
The Debtors are represented by Marcia Goldstein, Esq., at Weil
Gotshal & Manges in New York, and Mark D. Collins, Esq., at
Richards Layton & Finger in Wilmington, Delaware.  Lazard Freres &
Co. acts as the Debtors' financial advisors, and Kurtzmann Carson
Consultants serves as the Debtors' notice and claims agent.

According to the Troubled Company Reporter on May 22, 2008,
LandSource sought help from its lender consortium to restructure
$1.24 billion of its debt.  LandSource engaged a 100-bank lender
group led by Barclays Capital Inc., which syndicates LandSource's
debt.  LandSource had received a default notice on that debt from
the lender group after it was not able to timely meet its payments
during mid-April.  However, LandSource failed to reach an
agreement with its lenders on a plan to modify and restructure its
debt, forcing it to seek protection from creditors.  (LandSource
Bankruptcy News, Issue No. 16; http://bankrupt.com/newsstand/or
215/945-7000).


LANDSOURCE COMMUNITIES: Amends Operating Report for June 2008
-------------------------------------------------------------
LandSource Communities Development LLC and its debtor-affiliates
corrected the Consolidated Balance Sheet and the Consolidated
Statements of Operations of their monthly operating report for the
month of June 2008.

            LandSource Communities Development, LLC
                   Consolidated Balance Sheet
                       As of June 30, 2008
Assets

   Cash                                             $8,079,815
   Receivables                                      42,058,343
   Inventories                                   1,347,340,721
   Operating Properties, net                        86,434,864
   Investment in unconsolidated entities            22,254,590
   Other assets                                     47,805,246
                                                --------------
      Total Assets                              $1,553,973,579
                                                ==============
Liabilities and Members' Capital

Liabilities:

Prepetition
   Debt - principal                             $1,215,523,955
   Debt - Accrued interest                          28,674,406
   Interest rate swap termination payment du        28,230,000
   Accounts payable                                 32,410,898
   Payables to affiliates                           61,373,880
   Refundable deposits owed affiliate               26,469,916
   Tenant deposits                                     463,797
   Other                                             3,614,459
                                                 -------------
      Sub-total                                  1,396,761,311

Pospetition
   Accounts payable                                    250,006
   Property tax accrual                              1,332,288
   Payables to affiliates                           11,305,413
                                                    ----------
      Sub-total                                     12,887,707

Other
   Development accruals                             35,477,936
   Accrued Employee Related Benefits                 7,465,073
   Non-qualified Pension Plan Accruals               5,954,648
   Reserves - school fess, energy remediation       15,115,558
   Non-refundable deposits                          30,900,799
   Deferred Revenue                                 93,226,228
   Golf Course/Other deposits                        7,974,544
   Other                                             3,420,871
                                                   -----------
      Sub-total                                    199,535,657
                                                --------------
      Total Liabilities                         $1,609,184,675

Members' Capital                                   (55,211,097)
                                                --------------
   Total Liabilities and Members' Capital       $1,553,973,578
                                                ==============


           LandSource Communities Development, LLC
            Consolidated Statements of Operations
                   Month Ended June 30, 2008

Statistical Information
   Homesites sold to related parties                         0
   Homesites sold to third parties                           0
   Acreage sold to related parties                           0
   Acreage sold to third parties                             0
   Homes sold to third parties                               0

Land Sale Operations
   Sales related parties                               ($9,309)
   Sales to third parties                               13,036
                                                        ------
      Total Land Sale Revenue                            3,727
                                                        ------
   Cost of sales to related parties                     73,941
   Cost of sales to third parties                            0
                                                        ------
      Total Cost of Land Sales                          73,941
                                                        ------
Gross Margin on Land Sales Operations                  (70,214)
                                                        ------
Home Sale Operations
   Sales                                                     0
   Cost of sales                                             0
                                                         -----
Gross Margin on Home Sale Operations                         0
                                                         -----
Operating Cost and Expenses
   Field, selling, general & administrative          5,929,933
   Management fees to related parties                1,598,311
                                                     ---------
      Total Operating Costs and Expenses             7,528,244
                                                     ---------
Other Operations, net
   Equity in earnings of unconsolidated entities       (22,371)
   Rental operations                                   494,159
   Valencia Water Company                                    0
   Club operations                                     (92,466)
   Interest income                                     162,880
   Interest expense                                 (9,320,301)
   Loss on debt restructuring                                0
   Loss on interest rate swap termination          (25,392,563)
   Miscellaneous                                       288,598
                                                    ----------
      Total Other Operations, net                  (33,882,064)
                                                   -----------
Net Earnings (Loss)                               ($41,480,522)
                                                   ===========

                    About LandSource Communities

LandSource Communities Development LLC, which operates in Arizona,
California, Florida, New Jersey, Nevada and Texas, is involved in
the planning and development of master planned communities and
transforming undeveloped land into ready-to-build home sites and
commercial properties.  With the exception of one development
project in Marina del Rey, California, LandSource does not build
homes or commercial properties.

LandSource and 20 of its affiliates filed for chapter 11
bankruptcy protection before the U.S. Bankruptcy Court for the
District of Delaware on June 8, 2008 (Lead Case No. 08-11111).
The Debtors are represented by Marcia Goldstein, Esq., at Weil
Gotshal & Manges in New York, and Mark D. Collins, Esq., at
Richards Layton & Finger in Wilmington, Delaware.  Lazard Freres &
Co. acts as the Debtors' financial advisors, and Kurtzmann Carson
Consultants serves as the Debtors' notice and claims agent.

According to the Troubled Company Reporter on May 22, 2008,
LandSource sought help from its lender consortium to restructure
$1.24 billion of its debt.  LandSource engaged a 100-bank lender
group led by Barclays Capital Inc., which syndicates LandSource's
debt.  LandSource had received a default notice on that debt from
the lender group after it was not able to timely meet its payments
during mid-April.  However, LandSource failed to reach an
agreement with its lenders on a plan to modify and restructure its
debt, forcing it to seek protection from creditors.  (LandSource
Bankruptcy News, Issue No. 16; http://bankrupt.com/newsstand/or
215/945-7000).


LANDSOURCE COMMUNITIES: Amends Operating Report for July 2008
-------------------------------------------------------------
LandSource Communities Development LLC and its debtor-affiliates
corrected the Consolidated Balance Sheet and Consolidated
Statements of Operations of their monthly operating report for the
month of July 2008.

            LandSource Communities Development, LLC
                   Consolidated Balance Sheet
                      As of July 31, 2008

Assets

   Cash                                          $14,752,211
   Recievables                                    37,142,440
   Inventories                                 1,362,875,475
   Operating Properties, net                      86,309,642
   Investment in unconsolidated entities          22,091,870
   Other assets                                   48,080,532
                                              --------------
      Total Assets                            $1,571,252,170
                                              ==============
Liabilities and Members' Capital

Liabilities

Prepetition
   Debt- Principal                              $246,414,305
   Debt - Accrued interest                         9,586,566
   Interest rate swap termination payment du      28,192,405
   Accounts payable                                7,932,460
   Payables to affiliates                         62,348,593
   Refundable Deposits owed affiliate             26,469,916
   Tenant deposits                                   463,797
   Other                                           4,798,822
                                                 -----------
      Sub-total                                  386,206,864

Postpetition
   Accounts payable                                  330,150
   Property tax accrual                            1,801,836
   Payables to affiliates                         12,274,918
                                                 -----------
      Sub-total                                   14,406,904

Others
   Debt- DIP Revolver                             11,200,000
   Debt - DIP Term Roll-Up                     1,025,805,331
   Development accruals                           38,233,092
   Accrued Employee Related Benefits               7,611,607
   Non-qualified Pension Plan Accruals             5,710,703
   Reserves - school fees, energy remediation     15,122,079
   Non-refundable deposits                        30,900,799
   Deferred Revenue                               93,880,164
   Other                                           3,097,992
                                               -------------
      Sub-total                                1,231,561,767

   Members' Capital                              (60,923,066)
                                              --------------
   Total Liabilities and Members' Capital     $1,571,252,469
                                              ==============

            LandSource Communities Development, LLC
             Consolidated Statement of Operations
                   Month Ended July 31, 2008

Statistical Information
   Homesites sold to related parties                       0
   Homesites sold to third parties                         0
   Acreage sold to related parties                         0
   Acreage sold to third parties                           0
   Homes sold to third parties                             0

Land Sale Operations
   Sales related parties                             $22,379
   Sales to third parties                             28,424
                                                      ------
      Total Land Sale Revenue                         50,803
                                                      ------
   Cost of sales to related parties                   13,582
   Cost of sales to third parties                      4,100
                                                      ------
      Total Cost of Land Sales                        17,682
                                                      ------
Gross Margin on Land Sales Operations                 33,121

Home Sale Operations
   Sales                                                   0
   Cost of sales                                           0
                                                      ------
Gross Margin on Home Sale Operations                       0
                                                      ------
Operating Cost and Expenses
   Field, selling, general & administrative        4,928,875
   Management fees to related parties              1,644,063
                                                   ---------
      Total Operating Costs and Expenses           6,572,937
                                                   ---------
Other Operations, net
   Equity in earnings of unconsolidated entities    (161,291)
   Rental operations                                 256,047
   Valencia Water Company                                  0
   Club operations                                  (317,951)
   Interest income                                   138,291
   Interest expense                               (5,516,230)
   Loss on debt restructuring                              0
   Loss on interest rate swap termination                  0
   Miscellaneous                                   6,428,981
                                                   ---------
      Total Other Operations, net                    827,648
                                                  ----------
Net Earnings (Loss)                              ($5,712,168)
                                                  ==========

                    About LandSource Communities

LandSource Communities Development LLC, which operates in Arizona,
California, Florida, New Jersey, Nevada and Texas, is involved in
the planning and development of master planned communities and
transforming undeveloped land into ready-to-build home sites and
commercial properties.  With the exception of one development
project in Marina del Rey, California, LandSource does not build
homes or commercial properties.

LandSource and 20 of its affiliates filed for chapter 11
bankruptcy protection before the U.S. Bankruptcy Court for the
District of Delaware on June 8, 2008 (Lead Case No. 08-11111).
The Debtors are represented by Marcia Goldstein, Esq., at Weil
Gotshal & Manges in New York, and Mark D. Collins, Esq., at
Richards Layton & Finger in Wilmington, Delaware.  Lazard Freres &
Co. acts as the Debtors' financial advisors, and Kurtzmann Carson
Consultants serves as the Debtors' notice and claims agent.

According to the Troubled Company Reporter on May 22, 2008,
LandSource sought help from its lender consortium to restructure
$1.24 billion of its debt.  LandSource engaged a 100-bank lender
group led by Barclays Capital Inc., which syndicates LandSource's
debt.  LandSource had received a default notice on that debt from
the lender group after it was not able to timely meet its payments
during mid-April.  However, LandSource failed to reach an
agreement with its lenders on a plan to modify and restructure its
debt, forcing it to seek protection from creditors.  (LandSource
Bankruptcy News, Issue No. 16; http://bankrupt.com/newsstand/or
215/945-7000).


LANDSOURCE COMMUNITIES: Posts $11.6 Million Net Loss in September
-----------------------------------------------------------------

             LandSource Communities Development, LLC
                   Consolidated Balance Sheet
                   As of September 30, 2008

Assets

   Cash                                             $6,438,738
   Receivables                                      45,090,902
   Inventories                                   1,371,007,570
   Operating Properties, net                        88,081,951
   Investment in unconsolidated entities            21,785,116
   Other assets                                     47,203,522
                                                --------------
      Total Assets                              $1,579,607,799
                                                ==============
Liabilities and Members' Capital

Liabilities

Prepetition
   Debt- Principal                                $246,414,305
   Debt - Accrued interest                          13,856,566
   Interest rate swap termination payment du        29,405,028
   Accounts payable                                  7,806,917
   Payables to affiliates                           58,487,201
   Refundable Deposits owed affiliate               26,469,916
   Tenant deposits                                     503,934
   Other                                             4,389,219
                                                   -----------
      Sub-total                                    387,333,086

Postpetition
   Accounts payable                                    917,110
   Property tax accrual                              2,913,790
   Other                                               660,395
   Payable to affiliates                             1,177,943
                                                     ---------
      Sub-total                                      5,669,238

Others
   Debt- DIP Revolver                               22,170,333
   Debt - DIP Term Roll-Up                       1,040,498,483
   Development accruals                             37,806,143
   Accrued Employee Related Benefits                 8,106,118
   Non-qualified Pension Plan Accruals               5,712,160
   Reserves - school fees                           13,570,689
   Reserves - energy remediation                     2,067,211
   Non-refundable deposits                          29,840,447
   Deferred Revenue                                 90,795,542
   Other                                             3,307,266
                                                 -------------
      Sub-total                                  1,253,874,392
                                                 -------------
   Members' Capital                                (67,268,916)
                                                --------------
   Total Liabilities and Members' Capital       $1,579,607,800
                                                ==============

             LandSource Communities Development, LLC
              Consolidated Statements of Operations
                  Month Ended September 30, 2008

Statistical Information
   Homesites sold to related parties                         0
   Homesites sold to third parties                           0
   Acreage sold to related parties                           0
   Acreage sold to third parties                             0
   Homes sold to third parties                               0

Land Sale Operations
   Sales related parties                            $6,010,290
   Sales to third parties                               12,791
                                                    ----------
      Total Land Sale Revenue                        6,023,081
                                                    ----------
   Cost of sales to related parties                  5,460,100
   Cost of sales to third parties                       12,254
                                                     ---------
      Total Cost of Land Sales                       5,472,354
                                                     ---------
Gross Margin on Land Sales Operations                  550,727

Home Sale Operations
   Sales                                                     0
   Cost of sales                                             0
                                                      --------
Gross Margin on Home Sale Operations                         0
                                                      --------
Operating Cost and Expenses
   Field, selling, general & administrative          4,886,584
   Management fees to related parties                  490,414
                                                     ---------
      Total Operating Costs and Expenses             5,376,998
                                                     ---------
Other Operations, net
   Equity in earnings of unconsolidated entities      (155,289)
   Rental operations                                   474,185
   Valencia Water Company                                    0
   Club operations                                    (203,114)
   Interest income                                       2,448
   Interest expense                                 (7,089,582)

   Loss on debt restructuring                                0
   Loss on interest rate swap termination                    0
   Miscellaneous                                       216,719
                                                     ---------
      Total Other Operations, net                   (6,754,633)
                                                   -----------
Net Earnings (Loss)                               ($11,580,904)
                                                   ===========

              LandSource Communities Development, LLC
       Consolidated Schedule of Cash Receipts and Disbursements
                   Month Ended September 30, 2008

Net Operating Cash Flow
   Housing revenue                                  $4,709,632
   Commercial Revenue                                2,402,077
   Other                                                     0
   Option deposits                                      30,039
   Less: Closing Costs                                       0
                                                     ---------
      Total Operating Inflows                        7,141,748

Operating Cash Outflows
   Master improvements & CFDs                       (9,411,076)
   Property tax                                        (69,996)
   General & Administrative                         (1,326,479)

   Other                                              (228,086)
   Management fees                                    (466,667)
                                                    ----------
      Total Operating Outflows                     (11,502,304)
                                                    ----------
      Total Net Operating Cash Flow                 (4,360,556)

Bankruptcy Disbursements
   Bankruptcy Payments
   Utility Deposits                                          0
   Mechanic's liens/Other                                    0
                                                     ---------
      Total Bankruptcy Payments                              0

DIP Interest and Fees
   DIP Facility interest                              (148,709)
   Undrawn fee                                         (78,661)
   DIP Facility fees                                         0
                                                       -------
      Total DIP Interest and Fees                     (227,370)

   Restructuring professionals                      (2,801,700)

      Total Bankruptcy Disbursements                (3,029,070)
                                                    ----------
      Total Net Cash Flow                          ($7,389,625)
                                                    ==========
Disbursement Per Debtor
   LandSource Communities Development, LLC          $1,108,790
   California Land Company                                   0
   Friendswood Development Company, LLC                 13,444
   Lennar Land Partners II                                   0
   Kings Wood Development Company, L.C.                      0
   LSC Associates, LLC                                       0
   Lennar Mare Island, LLC                             393,776
   LandSource Communities Development Sub, L                 0
   Lennar Moorpark, LLC                                    850
   Lennar Stevenson Holdings, LLC                            0
   The Newhall Land and Farming Company                      0
   LandSource Holding Company, LLC                   7,570,995
   LNR-Lennar Washington Square, LLC                 2,801,166
   Lennar Bressi Ranch Venture, LLC                          0
   The Newhall Land and Farming Company              6,819,546
   (a California Limited Partnership)                        0
   NWI-IL GP, LLC                                            0
   Tournament Players Club at Valencia, LLC            400,821
   Southwest Communities Development, LLC                    0
   Valencia Corporation                                      0
   Stevenson Ranch Venture, LLC                         36,795
   Valencia Realty Company                                   0
                                                   -----------
      Total Disbursement                           $19,146,183
                                                   ===========

Schedule of Professional Fees and Expenses Paid

   Professional

   Cadwalader, Wickersham & Taft, LLP               $1,253,866
   FTI Consulting, Inc.                                573,718
   Paul, Weiss, Rifkind, Wharton & Garrison,            67,149
   Houlihan Lokey                                      380,163
   HoganWebb, LLC                                      340,000
   D.L.D. Unsurance Brokers, Inc.                      100,000
   Landis Rath & Cobb, LLP                              32,850
   Developers Rsearch, Inc.                             52,942
   Orrick, Herrington & Sutcliffe, LLP                   1,009
                                                    ----------
                                                    $2,801,697
                                                    ==========

                    About LandSource Communities

LandSource Communities Development LLC, which operates in Arizona,
California, Florida, New Jersey, Nevada and Texas, is involved in
the planning and development of master planned communities and
transforming undeveloped land into ready-to-build home sites and
commercial properties.  With the exception of one development
project in Marina del Rey, California, LandSource does not build
homes or commercial properties.

LandSource and 20 of its affiliates filed for chapter 11
bankruptcy protection before the U.S. Bankruptcy Court for the
District of Delaware on June 8, 2008 (Lead Case No. 08-11111).
The Debtors are represented by Marcia Goldstein, Esq., at Weil
Gotshal & Manges in New York, and Mark D. Collins, Esq., at
Richards Layton & Finger in Wilmington, Delaware.  Lazard Freres &
Co. acts as the Debtors' financial advisors, and Kurtzmann Carson
Consultants serves as the Debtors' notice and claims agent.

According to the Troubled Company Reporter on May 22, 2008,
LandSource sought help from its lender consortium to restructure
$1.24 billion of its debt.  LandSource engaged a 100-bank lender
group led by Barclays Capital Inc., which syndicates LandSource's
debt.  LandSource had received a default notice on that debt from
the lender group after it was not able to timely meet its payments
during mid-April.  However, LandSource failed to reach an
agreement with its lenders on a plan to modify and restructure its
debt, forcing it to seek protection from creditors.  (LandSource
Bankruptcy News, Issue No. 16; http://bankrupt.com/newsstand/or
215/945-7000).


LEXINGTON PRECISION: Posts $877,000 Net Loss in September 2008
--------------------------------------------------------------
Lexington Precision Corp. and Lexington Rubber Group, Inc., filed
with the U.S. Bankruptcy Court for the Southern District of New
York their monthly operating report for September 2008.

The Debtors reported total assets of $58,168,000 and total
liabilities of $100,340,000, resulting in a $42,659,000
stockholders' deficit.

For the month, the Debtors generated net sales of $5,478,000 and
incurred a net loss of $877,000.

A full-text copy of the Debtors' September 2008 monthly operating
report is available for free at:

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

                     About Lexington Precision

Headquartered in New York, Lexington Precision Corp.
-- http://www.lexingtonprecision.com/-- manufactures tight-
tolerance rubber and metal components for use in medical,
automotive, and industrial applications.  As of Feb. 29, 2008, the
companies employed about 651 regular and 22 temporary personnel.

The company and its affiliate, Lexington Rubber Group Inc., filed
for Chapter 11 protection on April 1, 2008 (Bankr. S.D.N.Y. Lead
Case No.08-11153).  Christopher J. Marcus, Esq., and Victoria
Vron, Esq., at Weil, Gotshal & Manges, represent the Debtors in
their restructuring efforts.  The Debtors selected Epiq Systems -
Bankruptcy Solutions LLC as claims agent.  The U.S. Trustee for
Region 2 appointed six creditors to serve on an Official Committee
of Unsecured Creditors.  Paul N. Silverstein, Esq., and Jonathan
Levine, Esq., reresents the Committee as counsel.

When the Debtors filed for protection from their creditors, they
listed total assets of $52,730,000 and total debts of $88,705,000.


SEA CONTAINERS: Files Operating Report for September 2008
---------------------------------------------------------

                      Sea Containers, Ltd.
                     Unaudited Balance Sheet
                    As of September 30, 2008

                             Assets

Current Assets
   Cash and cash equivalents                         $17,262,084
   Trade receivables, less allowances
      for doubtful accounts of $1.379MM                  566,355
   Due from related parties                              374,918
   Prepaid expenses and other current assets             352,657
                                                    ------------
      Total current assets                            18,556,014

Fixed assets, net                                              -

Long-term equipment sales receivable, net                      -
Investments in group companies                        94,887,856
Intercompany receivables                                       -
Investment in equity ownership interests             233,625,188
Other assets                                           2,521,770
                                                    ------------
Total assets                                        $349,590,828
                                                    ============

              Liabilities and Shareholders' Equity

Current Liabilities
   Accounts payable                                  $13,196,060
   Accrued expenses                                   96,338,670
   Current portion of long-term debt                 172,962,405
   Current portion of senior notes                   385,690,177
                                                    ------------
      Total current liabilities                      668,187,312

Total shareholders' equity                          (318,596,484)
                                                    ------------
Total liabilities and shareholders' equity          $349,590,828
                                                    ============

                      Sea Containers, Ltd.
                Unaudited Statement of Operations
             For the Month Ended September 30, 2008

Revenue                                               $2,047,800

Costs and expenses:
   Operating income                                            -
   Selling, general and admin. expenses               (1,356,674)
   Professional fees                                   2,995,285
   (Charges)/credits against intercompany
      accounts                                        (3,663,832)
   Impairment of investment in subsidiary
      companies                                      (10,000,000)
   Forgiveness of intercompany debt                            -
   Depreciation and amortization                               -
                                                    ------------
      Total costs and expenses                       (12,025,221)
                                                    ------------

Profit/(Loss) on sale of assets                           (2,464)
                                                    ------------
Operating loss                                        (9,979,885)

Other income (expense)
   Investment income                                   1,614,891
   Foreign exchange gains/(losses)                       219,717
   Interest expense, net                              (3,654,958)
                                                    ------------
Loss before taxes                                    (11,800,235)
Income tax expense                                      (209,267)
                                                    ------------
Loss after taxes                                    ($12,009,502)
                                                    ============

                  Sea Containers Services, Ltd.
                     Unaudited Balance Sheet
                    As of September 30, 2008

                             Assets

Current Assets
   Cash and cash equivalents                             $42,333
   Trade receivables                                      (2,269)
   Due from related parties (GE SeaCo)                    74,117
   Prepaid expenses and other current assets           1,426,683
                                                    ------------
      Total current assets                             1,540,864

Fixed assets, net                                          6,918

Investments                                            2,475,558
Intercompany receivables                               4,034,489
Other assets                                                   -
                                                    ------------
Total assets                                          $8,057,829
                                                    ============

Liabilities and Shareholders' Equity

Current Liabilities
   Accounts payable                                     $981,767
   Accrued expenses                                    1,220,838
   Current portion of long-term debt                   1,386,374
                                                    ------------
      Total current liabilities                        3,588,979

Total shareholders' equity                             4,468,850
                                                    ------------
Total liabilities and shareholders' equity            $8,057,829
                                                    ============

                  Sea Containers Services, Ltd.
                Unaudited Statement of Operations
             For the Month Ended September 30, 2008

Revenue                                               $1,200,836

Costs and expenses:
   Selling, general and admin. expenses                 (735,023)
   Professional Fees                                  (9,338,099)
   Depreciation and amortization                          (1,522)
                                                    ------------
      Total costs and expenses                       (10,074,644)
                                                    ------------

Gains on sale of assets                                    8,788
                                                    ------------
Operating profit/(loss)                               (8,865,021)

Other income (expense)
   Interest income                                             -
   Foreign exchange gains or (losses)                      3,768
   Interest expense, net                                 (13,090)
                                                    ------------
Profit/(Loss) before taxes                            (8,874,342)
Income tax credit                                              -
                                                    ------------
Net profit/(loss)                                    ($8,874,342)
                                                    ============

                     About Sea Containers Ltd.

Headquartered 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 disclosed
total assets of $62,400,718 and total liabilities of
$1,545,384,083.

(Sea Containers Bankruptcy News, Issue No. 54; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


TROPICANA ENTERTAINMENT: Posts $16 Million Net Loss in September
----------------------------------------------------------------

                   Tropicana Entertainment, LLC
                          Balance Sheet
                     As of September 30, 2008

                              ASSETS

Current Assets
  Accounts receivable - trade                                $0
  Cash & temporary cash investments                  13,323,000
  Deposits                                            2,461,000
  Inventories                                                 0
  Other receivables                                           0
  Prepaid expenses                                       73,000
                                                 --------------
Total Current Assets                                 15,857,000

Property and Equipment
  Buildings                                                   0
  Construction in progress                                    0
  Furniture & fixtures                                  114,000
  Land                                                        0
  Riverboats, barges & ramps                                  0
  Vehicles                                                    0
                                                 --------------
Total Property and Equipment                            114,000

Reserve for Depreciation
  Boats, barges & ramp reserve for depreciation               0
  Building reserve for depreciation                           0
  Furn. & fixtures reserve for depreciation                   0
  Gaming entertainment reserve for depreciation               0
  Vehicle reserve for depreciation                            0
                                                 --------------
Total Reserve for Depreciation                                0

Other Assets
  Investments                                     2,775,215,000
  Other assets                                       31,190,000
                                                 --------------
Total Other Assets                                2,806,405,000
                                                 --------------
TOTAL ASSETS                                     $2,822,376,000
                                                 ==============

              LIABILITIES AND SHAREHOLDERS' DEFICIT

Current Liabilities
  Accounts payable                                  $16,460,000
  Accrued other expenses                              1,686,000
  Accrued payroll                                       111,000
  Deferred income                                             0
  Notes payable - Evansville                         11,900,000
  Payroll taxes payable                                       0
  Sales tax payable                                           0
                                                 --------------
Total Current Liabilities                            30,157,000

Long Term Debt Due Beyond One Year
  DIP financing                                      20,000,000
                                                 --------------
Total Long Term Debt Due Beyond One Year             20,000,000

Other Liabilities
  Deferred fed taxes                                          0
  Deferred rent                                               0
  Deferred state inc taxes                                    0
  Intercompany                                       43,072,000
                                                 --------------
Total Other Liabilities                              43,072,000

Total Liabilities not Subject to Compromise          93,228,000

Liabilities Subject to Compromise
  Non-intercompany                                  913,355,000
  Intercompany                                    1,593,200,000
                                                 --------------
Total Liabilities Subject to Compromise           2,506,555,000
                                                 --------------
Total Liabilities                                 2,599,783,000

Total Stockholders' Equity                          222,592,000
                                                 --------------
Total Liabilities & Shareholders' Deficit        $2,822,376,000
                                                 ==============

                   Tropicana Entertainment, LLC
                         Income Statement
              For the Month Ended September 30, 2008

Operating Revenues
  Casino revenue                                             $0
  Rooms revenue                                               0
  Food & beverage revenue                                     0
  Other casino & hotel revenue - less int income              0
                                                 --------------
Opening Revenues                                              0
Less promotional allowances                                   0
                                                 --------------
Net Operating Revenues                                        0

Operating Expenses
  Casino operating expenses                                   0
  Rooms operating expenses                                    0
  Food and beverage operating expenses                        0
  Other casino and hotel operating expenses             (14,000)
  Utilities                                                   0
  Marketing, advertising and casino promotions           21,000
  Repairs and maintenance                                10,000
  Insurance                                               6,000
  Property and local taxes                                    0
  Gaming tax and licenses                                     0
  Administrative and general                          2,084,000
  Leased land and facilities                             17,000
  Depreciation and amortization                               0
  Loss on disposition of assets                               0
  Bad debt expense - loans                                    0
  Impairment charge                                           0
  Restructuring cost                                   (150,000)
  Chapter 11 reorg. & other prof. fees                3,776,000
                                                 --------------
Total Operating Expense                               5,749,000

Income from Operations                               (5,749,000)

Other Income (Expense)
  Interest expense                                  (10,214,000)
  Intercompany interest income / (expense)               42,000
  Interest income                                       (55,000)
                                                 --------------
Total Other Income (Expense)                        (10,227,000)

Federal Income Tax                                            0

Income Before Minority Interest                     (15,976,000)
                                                 --------------
NET INCOME                                         ($15,976,000)

                  About Tropicana Entertainment

Based in Crestview Hills, Kentucky, Tropicana Entertainment LLC --
http://www.tropicanacasinos.com/-- is an indirect subsidiary of
Tropicana Casinos and Resorts.  The company is one of the largest
privately-held gaming entertainment providers in the United
States.  Tropicana Entertainment owns eleven casino properties in
eight distinct gaming markets with premier properties in Las
Vegas, Nevada and Atlantic City, New Jersey.

Tropicana Entertainment LLC filed for Chapter 11 protection on
May 5, 2008, (Bankr. D. Del. Case No. 08-10856).  Its debtor-
affiliates filed for separate Chapter 11 petitions but with no
case numbers assigned yet.  Kirkland & Ellis LLP and Mark D.
Collins, Esq., at Richards Layton & Finger, represent the Debtors
in their restructuring efforts.  Their financial advisor is Lazard
Ltd.  Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.

Stroock & Stroock & Lavan LLP and Morris Nichols Arsht & Tunnell
LLP represent the Official Committee of Unsecured Creditors in
this case.  Capstone Advisory Group LLC is financial advisor to
the Creditors' Committee.

The Court has extended the Debtors' exclusive period to file a
plan through and including January 12, 2009, and to solicit votes
on the plan through and including March 13, 2009.
(Tropicana Bankruptcy News, Issue No. 21; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000)


WASHINGTON MUTUAL: Files Initial Monthly Operating Report
---------------------------------------------------------
Washington Mutual, Inc., and WMI Investment Corporation filed
with the Court on Oct. 30, 2008, an initial monthly operating
report.

The Initial Report incorporated a 13-week cash flow forecast for
the period from October 31, 2008, through January 23, 2009.

For the 13-week period ending January 2009, the Debtors estimate:

  -- receipts to total $6.06 million;
  -- disbursements to aggregate $30.94 million;
  -- a negative net cash flow of $24.87 million; and
  -- ending cash and securities balance to total $4.6 billion.

A full-text copy of the 13-Week Consolidated Cash Flow is
available for free:

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

WaMu Chief Restructuring Officer William C. Kosturos notes that a
$4 million disbursement within the week of Nov. 7, 2008, refers to
an estimate for the premium of the Debtors' Directors and Officers
Policy.

According to Mr. Kosturos, all forecasted amounts are highly
preliminary due to hiring of additional WaMu employees, the
relationship between WaMu and JPMorgan Chase, N.A., and other
circumstances regarding the Debtors' ongoing operations.

Other key assumptions in the forecast are:

  * The interest is based on a 0.8% annual interest rate on
    investable funds;

  * Payroll and benefits assume that WaMu will be successfully
    hiring 15 to 20 full-time employees in the near term;

  * Rent is based on the current allocation of expenses between
    WaMu and Washington Mutual Bank's former banking operations,
    while the actual determinaton of charges with respect to
    WaMu's occupancy is to be determined;

  * Shared services to be provided by JPMorgan Chase and the
    costs of the services are being determined;

  * The estimate of professional fees is highly preliminary;

  * Information Technology infrastructure costs will depend on
    the shared services provided by JPMorgan Chase and WaMu's
    need to develop its own infrastructure.

The Initial Report also disclose demand deposit accounts the
Debtors maintained:

       (i) JPMorgan Chase Bank
           WM Tower Financial Center
           1201 3rd Avenue
           Seattle, Washington 98101-3029

      (ii) Bank of New York Mellon
           101 Barclay Street
           New York, NY 10286

General account and ZBA disbursement account are also maintained
by the Debtors at the Bank of America.

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over Sept. 25 by U.S. government
regulators.  The next day, WaMu and its debtor-affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment listed assets of $500,000,000
to $1,000,000,000 with zero debts.

(Washington Mutual Bankruptcy News, Issue No. 6; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)



                            *********

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

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

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
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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
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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,
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USA.  Luke Caballos, Sheryl Joy P. Olano, Ronald C. Sy, Joel
Anthony G. Lopez, Cecil R. Villacampa, Carlo Fernandez,
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Copyright 2008.  All rights reserved.  ISSN: 1520-9474.

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                    *** End of Transmission ***