Check out this link http://www.nytimes.com/2009/03/31/science/earth/31adirondacks.html
The Nature Conservancy sold 92,000 acres of forest to a Danish Pension Fund (ATP) for $32.8 million. This is a little over half of the 161,000 acres in the Adirondacks which the Finch Paper Co. sold to the Nature Conservancy in 2007 for $110 million for a financial loss of $80 million!
The Nature Conservancy is intending to sell 65,000 of the remaining 69,000 acres to the state while the 92,000 lot will be managed by a private timber company to supply wood to the Finch Paper Mill which employs ~800 people. The logging will occur on less than 10% of the land.
Maybe the Nature Conservancy should have waited until the economy picked up so that their loss wasn't as large.
No comments:
Post a Comment