Word: forester
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...moment for well-heeled environmentalists wishing to put parts of the Third World off limits to development. If it works with debt-straitened countries, why not with similarly strapped companies? That's the reasoning behind the latest swap plan, intended to protect a 2,900-acre redwood forest in Northern California's Humboldt County...
...main player is Maxxam, a Houston conglomerate that issued junk bonds in order to purchase the lumber firm that formerly owned the forest. Among the bond buyers: the infamous Columbia Savings & Loan of Beverly Hills, which was seized by the government in January. The seizure has left Uncle Sam holding Columbia's share of the Maxxam bonds. Maxxam, left short of cash by the takeover, has increased the cutting and selling of the redwood timber, thus infuriating local conservationists...
...effort to protect the forest, California wants to buy from the Federal Government some $60 million of Maxxam bonds, hopefully at a discount. The state would then hand the bonds back to Maxxam, freeing the company from ever having to repay that debt. In return for the bonds and an undetermined additional payment, Maxxam would give the forest to the state...
...country after country, proposed action plans stressed such projects as the opening of previously pristine forests for exploitation. Noting that Cameroon could become the "most important African producer and exporter of forestry-based products from the start of the 21st century," T.F.A.P. proposed construction of a 370-mile road through virgin rain forest that is home to 50,000 Pygmies. Many environmentalists wondered, By what logic do building roads into pristine areas and financing logging operations help preserve uncut forests...
...garbage cans and recycling bins, I feel truly trapped. Am I the only one? Does anyone else see the monster at the Union, where first-years use about 9000 "Veritas" cups each day? How about in the Sunday New York Times, which comes at the cost of acres of forest land...