280 



\ 



More recently. Maxxam shareholders 

 have accused him of cutting: himself sweet 

 deals at their ex- 

 pense. On four occa- 

 sions he has been 

 accused by regula- 

 tors or investors of 

 looting: firms he 

 controlled. Some of 

 the actions are 

 pending-; others- 

 were settled, with 

 Mr. Hurwitz deny- 

 ing- any guilL He not 

 only survives, but 

 seems close to shor- _^ 



in? up his troubled cSiaries E. Hurwitz 



empire. • — 



*This g:uy is the Houdini of hi^h fi- 

 nance," says Craig: GUmore, head of 

 Gllmore & Co., an investment adviser 

 in Carlsbad, Calif. 



Defending: His Practices 



In a rare interview, Mr. Hunvitz de- 

 fends Pacific Lumber's environmental rec- 

 ord and his other corporate practices, and 

 complains that he has been unfairly 

 branded by radical environmentalists and 

 a hostile press. *Tra as much an environ- 

 mentalist as anybody in the world," he 

 declares. He denies any wrongdoing- in the 

 various lawsuits and regulatory matters in 

 which he has been involved. He arg:ues that 

 there are plenty of old redwoods already 

 protected in paries, and that logging- in the 

 Headwaters doesn't ^sq a significant 

 threat to the species. 



As for Rep. Hambur^s bill, Mr. Hur- 

 witz is blunt "It's ridiculous," he sa>-s. 

 While Pacific Lumber is willing to part 

 with the Headwaters, selling: off 44,000 

 acres — neariy a fifth of the company's 

 timberiands - isn't in the cards, he says. 



