Word: lumbering
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Which is hardly good timing for a city with more than 3,000 mom-and-pop outfits, most of which make at least half their sales between Halloween and New Year's. The city's lumber suppliers are seeing orders rescinded by angry customers. The general manager of the Radisson Hotel Berkeley Marina said a local ROTC group canceled a dinner for 250. And some people in nearby San Francisco have decided against buying Berkeley properties...
...Which is hardly good timing for a city with more than 3,000 mom-and-pop outfits, most of which make at least half their sales between Halloween and New Year's. The city's lumber suppliers are seeing orders rescinded by angry customers. The general manager of the Radisson Hotel Berkeley Marina said a local ROTC group canceled a dinner for 250. And some people in nearby San Francisco have decided against buying Berkeley properties...
STOCK ON WOOD You'd expect hard assets to do well in a down market, so here's a suggestion: 2-by-4s. Companies that harvest trees for lumber are amassing impressive records on the Street. Returns on timber investments were up 4.2% last year, while the S&P sank 9.1%. In the past 30 years, the annual average return on timber was 15.2%, against 13.2% for the S&P 500 index. Behind the strong performance: a resilient home-building sector. If housing stays strong, so will timber. As there's no mutual fund that's a pure play...
Timber issues in the west are not black and white. The extreme greens don't want a single tree cut, while some lumber interests act as if not one should be left standing. I grew up in Washington State, and have hiked the high country since I was a boy scout in the '60s. I live in a house built of lumber and read TIME on paper. A middle way must be found to provide a livelihood for Westerners but keep the beauty and diversity of nature of the West for all. CURT EIDEM Everett, Wash...
...insists most of them are here "because Laos is a full-on, rad place that's totally blowing up. Everybody's coming to Laos and not just for the dope but because of the people and stuff." Bucktoothed, broad-smiling, with curly hair spilling from under a Beaver Lumber hat, Clarky is full of exuberance about his bar, his new business, his new country...