January 8, 2001 Daily Bankruptcy News

January 8, 2001 Daily Bankruptcy News Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet AND BKCLAIMS Marketplace - The Online Market For Bankruptcy Claims Also available on the Web (with links to the news stories) at: http://bkinformation.com/News/DailyNews.htm

Noose tightens around PSINet Economy: U.S. Retail, Manufacturing Suffer Rust Belt Seeing Its Luster of the '90s Start to Fade ____________ Dotcoms: One-third of listed Net firms may run out of cash Innovative Web Retailer Mercata Folds News Corp. shuts Web unit It's Crash and Burn for Online Travel Burning Down to the Bargains- Even as 'Net firms burn cash, smart investors smell opportunity Deal falls through to save Internet broadcasting firm, BroadcastAmerica ______________ Reliance: Reliance Group Formally Opposes Icahn Tender Offer Reliance files lawsuit __________ Bilzerian Files for Bankruptcy Additional filings detail New Orleans casino's debt Anna Nicole: Pinup got biggest U.S. court award of 2000 Anna Nicole Ejects from Texas Trial Settling for $475M Cashing Out ____________ LTV/Steel Industry: Banks Will Benefit If LTV Goes Bankrupt Wheeling-Pitt bankruptcy provokes anger, despair at industry' s decline LTV Lays Off 100 at Cleveland Works NYSE suspending LTV, company to trade on OTC exchange Steel makers off track ____________ Slow retail sales may trouble mall owners Leased-out Lids Flips For Chap. 11 G-1 G-I (fka GAF) Files Chapter 11 Petition To Resolve Asbestos Liability Claims G-I Holdings' Bankruptcy Filing Cites Exposure in Asbestos Cases (WSJ: paid subscription required) ___________ Laidlaw: Laidlaw mum on future of company Little hope of recovery for Laidlaw investors ___________	Lernout & Hauspie: L&H cuts 1,200 jobs in U.S., Belgium L&H to cut 800 employees this week Creditors Uneasy After L&H Belgian Bankruptcy Protection (WSJ: paid subscription required) ____________ Telecom Tightrope- Like real estate a decade ago, telecom threatens to topple the economy Power Utilities: Calif. Gov. Davis Under Pressure As Power Crisis Grows Officials Seek Fix for Calif. Power Crisis Bankruptcy May Provide Refuge for Calif. Utilities Power rescue plans involve bonds Bankruptcy for utilities could have wide effect California's power suppliers nervously watch utilities Other States Can Offer Energy Policy Lessons Report links mass power plant shutdowns, high rates Why can't rating agencies agree on Calif utilities? California power deregulation seen as debacle Domino Effect: Energy Crunch Hits Factories Chronology - Key developments in California power crisis DOE Again Orders Power Suppliers Into Calif Market Calif. Power Becomes Political Fight Key facts about California utilities Let's Keep The Lights On S&P says SoCal Edison probably closest to bankruptcy Redding residents insulated from spike in California utility costs Philadelphia Gas Works Files For Base-Rate Increase $10-Billion Plan for Power Authority Would Reverse State Deregulation PG&E Says Company Not Considering Edison-Style Layoffs Rate increases spark anger in California Bank of America leads on PGE's $1 bln line Calif. utilities' troubles spark bad loan scare _____________ Denver, CO: Stage closing all but 1 store JCC Holding Co. says its casino jobs secure for now American Film Technologies, Inc. Files Chapter 11	New Bankruptcy Opinions (2 new opinions today) China: PetroChina says cut 38,000 jobs in 2000 ___________ Canada: Canada joblessness down as U.S. economy slides Economic flu heading north, economist says California power woes a warning for Ontario Healing residential school abuse a tough sell ____________ TWA: American Airlines Poised to Acquire Trans World Airlines Report: American To Buy TWA ____________ Outboard Marine: Outboard Marine on auction block Beyond bankruptcy Now, it's time to keep Chris-Craft workers afloat ___________ Bankruptcy Reform: Banking Industry Continues To Fund Political Contributions ____________ Movie Theater Industry: CinemaStar Files For Bankruptcy Nasdaq halts trading of CinemaStar after bankruptcy filing Cobb Theatres back in the spotlight Movie Cineplex Chain Closes Denver Outlet ____________ Restructuring . . . SCI To Sell Over 500 Funeral Homes, Cemeteries MarchFirst Lays Off More Staff to Reach Savings Goals Bausch & Lomb Slashes More Jobs eCal Restructures Operations THCG to restructure, cut headcount by 35 pct _____________ Montgomery Ward Gets Court OK To Use $140 Million Collateral Denver, CO: Uniform Commercial Code due for a legislative update Norfolk, VA: Be-Lo, Fresh Pride operator files for bankruptcy Shaman Pharmaceutical Files for Chapter 11 Thermatrix Announces Plan of Reorganization Weather Forecast: Enter City, State, or Zipcode: