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Examples
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Maxxam accelerated logging in the redwood-dominated timberlands, setting off an environmental firestorm that resulted in stricter regulations and the contribution of 5,600 acres of Pacific Lumber property to the Headwaters Forest Reserve in 1999.
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Thus, if the airline failed, Maxxam would be able to recover a significant portion of its investment.
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JULY 1992: Maxxam bids $350 million for a controlling interest in Continental Airlines Holdings.
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The plan has the support of Pacific Lumber, Maxxam and state and local officials, says Mendocino Chairman Sandy Dean
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Maxxam, with 1991 sales of $2.2 billion, was built largely on risky "junk" bonds financed through Drexel Burnham Lambert.
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The Maxxam-led group would contribute only $25 million in equity, with the remainder coming from notes secured by Continental's assets.
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A spokesman for Maxxam says neither Hurwitz, who declined to be interviewed, nor his companies have committed any wrongdoing.
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MAY 1988: Maxxam acquires KaiserTech, the parent of Kaiser Aluminum, for about $930 million.
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Maxxam, led by Houston businessman Charles Hurwitz, used junk bonds in 1986 to purchase the 140-year-old company, then known for environmentally conscious forestry practices.
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Spotting all this, corporate raider Charles Hurwitz offered to buy the company in 1985 through a holding company called Maxxam.
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