278 

 TOE WALL STREET JOURNAL FRIDAY. AUGUST 6. 19 93 



Cutting Costs 



For Takeover Baron, 

 Redwood Forests Are 

 Just One More Deal 



Hurwitz Wants U.S. to Buy 

 His Trees for $600 Million 

 Or He'll Let Chainsaws In 



*Houciini of High Finance' 



By Charles McCoy 



staff Reporter of Tttr. Waix Street Journal 



It is a proposal that brings new mean- 

 ing to the term greenmail. 



Financier Charies Hurwitz wants the 

 U.S. government to pay him hundreds of 

 millions of dollars for 4.500 acres of the 

 ancient redwoods, in a remote California 

 grove known as the Headwaters Forest, 

 Otherwise, he says, he will press ahead 

 with his plans to cut the trees down. 



It's not just a fantasy. This week, a bill 

 was introduced in Congress to buy as much 

 as 44.000 acres from Mr. Hurwitz, in- 

 cluding the Headwaters. Although a price 

 hasn't been spelled out and Mr. Hurwitz 

 scoffs at the legislation, his representa- 

 tives say he wants about S500 million for 

 the Headwaters tract alone. 



