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more. Our retirees enjoy one of the best pension programs 

 in the timber industry, our employees have an exceptional 

 health plan, and all of our workers' children are entitled 

 to up to $8,000 in scholarships for college upon 

 graduation from high school. Since 1986, approximately $1 

 million of scholarships have been awarded under this 

 rather unique program. 



Our company is the largest producer of high grade 

 redwood lumber in the world, and our approximately 195,000 

 acres of timberland (including the 3,000-acre Headwaters 

 Forest) are zoned by the State of California exclusively 

 for timber production. Throughout our 124 year history, 

 from 1869 to today, we have been and continue to be a 

 responsible company. We. manage our forests to ensure 

 continuous renewal and healthy growth. Notwithstanding 

 the inaccurate statements of some, which are often 

 repeated by the media, the truth is that at current 

 harvest levels and with our current land base, we can 

 continue to harvest our trees at a sustainable level 

 forever and at a more conservative rate than that of the 

 timber industry as a whole. 



For these and the other reasons I shall describe in 

 the balance of my statement, we are strongly opposed to 

 H.R. 2866. Let me first state, however, that we — both 

 Pacific Lumber and our corporate parent Maxxam Inc. — 

 recognize that our company, the United States Government, 



I 



