Dennis> You said Charles Hurltiz isn't he the one who rose to power the sale of junk bonds in the Savings and Loan rip off in Texas?
Julia> Yes, Charles Hurlitz trail, to the top is littered with broken laws, broken lives, broken promises, and destroyed land everywhere you look. He utilized, he took over the savings of loan during the Regan era. Where pretty much all laws helped keep people decent were stripped away and opened the doors for every crook out there in this country to capitalize at the expenses of everything and everyone else, unfortunately Charles Hurltiz decided to capitalize on that as well. Dealing very shading dealings through that savings and loan with partners Michael and Ivan, both of who were later charged and sent to prison and find for their illegal dealings with money.
Charles Huritz has escaped the law every step of the way. And through that high junk bond wheeling and dealing that he did he illegally he hostilely took over and illegally took over Pacific Lumber (At that time a family owned and operated business). He did so, or the process that he used part and one of many of his illegal dealings caused that savings and loan to fail, costing US tax payers 1.6 billion dollars. Basically that means that the taxpayers should own Pacific Lumber and Kiser Aluminum. Both company's that he acquired shortly after the failure of the savings and loans. Both company's paper trails lead back to the savings and loans. But instead of government holding him accountable for his destructive, disrespectful, and illegal practices...They now paid him another 495 million dollars in taxpayer's money for land. That although I don't believe that land belongs to anyone person, it belongs to all life, and If it were to belong to people it certainly wouldn't belong to Charles Hurlitz. Especially after the history of how he acquired it.
Charles Huritz has escaped the law every step of the way. And through that high junk bond wheeling and dealing that he did he illegally he hostilely took over and illegally took over Pacific Lumber (At that time a family owned and operated business). He did so, or the process that he used part and one of many of his illegal dealings caused that savings and loan to fail, costing US tax payers 1.6 billion dollars. Basically that means that the taxpayers should own Pacific Lumber and Kiser Aluminum. Both company's that he acquired shortly after the failure of the savings and loans. Both company's paper trails lead back to the savings and loans. But instead of government holding him accountable for his destructive, disrespectful, and illegal practices...They now paid him another 495 million dollars in taxpayer's money for land. That although I don't believe that land belongs to anyone person, it belongs to all life, and If it were to belong to people it certainly wouldn't belong to Charles Hurlitz. Especially after the history of how he acquired it.
And he came in, he liquidated many of the long time assets of the company, raided worker pensions fund and double and in some case tripled the rate of cut in the forest. He took over Pacific Lumber company for 800 million dollars. Last year he refinanced the company, and you must realize Pacific Lumber before Maxxam had almost non-existent debt. They had been operating for over a hundred years, and the only debt they had was more of a working debt than a long-term debt. That when Charles Hurlitz of the Maxxam took over the company he then unloaded the 800 million debt that he had incurred onto Pacific Lumber, which means onto the forest. After 13 years of liquidating this priceless forest he turned around actually 12 years. He turned around and refinanced the company for 900 million dollars.
So, 13 years after all of this horrifying devastation and destruction, not only to the environment, to the economy, to peoples lives, Pacific Lumber now has 100 million dollars more of a debt than it did when he took it over 13 years ago. And these are the practices, common practices of Charles Hurltiz to illegally and through shady dealings take over companies take them for all they are worth, sucks them dry, move the assets all the way to the top (top of corporate latter) where people have all the rights of individual, yet none of the responsibilities. It then cause the business to collapse. Files bankruptcy, and moves on to do it again.
And through this experience I've realized that Government and Corporations are hand in hand, they are one in the same. Because there is no way that any human being could never get away with practices like Charles Hurltiz propagated on wall street, in local economy and in the forest with out help of government officials.