Update on Maxxam manipulations
Will there soon be a NEW owner of redwood forest in Humboldt county? You may have read news reports today-here is a breakdown of information in a hasty synopsis. With the announcement that Maxxam Corp. has offered terms to the bondholders of its financially troubled timber company, Pacific Lumber subsidiary Scotia Pacific, various stakeholders have focused their attention on discussions that are, for the most part, taking place behind closed doors. Scotia Pacific (ScoPac) released a report on Monday Aug. 1 to the Securities and Exchange Commission outlining an offer to the company’s bondholders of 90% of the equity in …