Maxxam Decides to sell Scotia in 2007, Avoids Local News Coverage.
Associated Press writer Lisa Leff recently wrote a story saying that Maxxam has decided to sell the Pacific Lumber Company town of Scotia, Ca. in 2007. Seems to be no mention so far in the local newspapers.
Notable paragraphs from the AP article:
In the past five years, the company has closed two mills, repeatedly threatened bankruptcy and laid off hundreds of employees. Some worry whether selling Scotia signals that PalCo is preparing to leave town altogether, making buying a house there a risky investment.
"It's at the point here where the people don't know if they will have a job next week or not," said [Mel] Berti, who like many old-timers speaks nostalgically of the days before the family that owned PalCo sold it to Maxxam in 1987.
[ Pacific Lumber's vice president for strategic planning, Dennis] Wood pointed to the high-tech saw mill Pacific Lumber built in 2004 as evidence that it sees a future in the redwoods it would still own after unloading Scotia. The company is also renovating the site of one of its old mills into a light industrial park it hopes would attract other businesses, such as a brewery.
Still, his sunny prediction came the same day the company quietly laid off 90 more workers. Berti, a veteran city councilman in nearby Fortuna, heard about it from workers who came into Hoby's Market.
"It's sad to see such a beautiful community go out the window," he said. "But time moves on. You have to go along."