Scotia sawmill being deconstructed

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snipped-for-privacy@hadenough.com says...

A Texas financier, takeover artist, etc..
Pacific Lumber was owned by a family who was cutting their redwoods at a sustainable rate. They could have cut forever. Hurwitz bought them out and cut everything in sight. Redwood was cheap for a few years, now it's almost non-existent. There's a book on the subject but I don't remember the title.
He also did a leveraged buyout on Kaiser Aluminum and stripped the company bare. They're now essentially out of the primary aluminum business and only make finished goods. I did some contract computing work for them over the years and personally witnessed the decline.
He's probably stripped other companies as well, but those are the two I know about.
--
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wrote:

ah, thanks for the background. Had heard of the redwood debacle but did not associate a name with it.
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More the spotted owl. One of our companies located in Eureka started seeing the decline as soon as the first ruling in the late 80s'. We sold it and moved on. Since then, virtually all business have suffered significantly in the area. PALCO is just one of a long list of closures.
A federal appeals court shot down a series of timber cuts planned for national forests in the Pacific Northwest yesterday, ruling that regulations ostensibly protecting the spotted owl and other threatened species are "blatantly contradictory to Congress' express demand." -Seattle Post-Intelligencer 7aug04
Dave

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protest against Palco Pacific lumber ,lets go to Scotia California and protest for the redwoods
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sandydjbradford writes:

What's the shutdown rationale? Is the sawmill losing money?
Charlie Self "Vote: the instrument and symbol of a freeman's power to make a fool of himself and a wreck of his country." Ambrose Bierce
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Spotted owl. Old growth redwoods. They were the major contributors to the shutdown. Great old mill though.
Dave

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Dave responds:

So the EPA forces a shutdown and the OP wants to punish Palco?
Jeez.
Charlie Self "Cabbage: A familiar kitchen-garden vegetable about as large and wise as a man's head." Ambrose Bierce, The Devil's Dictionary
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On 09 Dec 2004 00:52:58 GMT, snipped-for-privacy@aol.comnotforme (Charlie Self) wrote:

Well of course, after all corporations only cut trees because they like pillaging the forests -- they could produce wood without cutting down trees if they really wanted to.
Note to the humor-impaired: That was sarcasm.

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snipped-for-privacy@hadenough.com says...

Well, not to step on your sarcasm, but "pillaging" is the appropriate term for what Hurwitz did when he took over Pacific Lumber.
Do a Google for more info. Here's a quote from one site:
"Local community members fear that Maxxam CEO Charles Hurwitz will take the cash provided by the deal and run, leaving Pacific Lumber--and hundreds of local workers--twisting in the wind. "It seems highly unlikely that any of that money will even stay with Pacific Lumber, much less end up in the pockets of timber or restoration workers, where it truly belongs," observed Bundy. According to some estimates, Maxxam has siphoned $2 billion from the Humboldt County economy since acquiring Pacific Lumber in 1985. PL's debt load is now even greater than it was immediately following the takeover, and many locals fear that Hurwitz will allow PL to slowly go bankrupt."
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wrote:

I have no doubt that unbridled and rapacious greed exists in some folks like Hurwitz. It is a sad thing when people in such positions fail to account for the effects of their actions upon those in their employment. Don't know what the answer is, but some things are just plain wrong, no matter how they get packaged.
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snipped-for-privacy@hadenough.com says...

I tend to see red when Hurwitz is mentioned, because he also pillaged Kaiser Aluminum who used to be the biggest employer in our town. I realize he's not the only one. Texas does seem to have more than its fair share, though. Must be all that oil money floating around.
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wrote:

And before that is was the East and Eastern Midwest with the steel barons. Greedy rapacious vultures seem to tend toward the industries that are growing the fastest and turning money quickly.
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protest against Palco Pacific lumber ,lets go to Scotia California and protest
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