Washington: Weyerhaeuser moves to the wonderful land of REIT
Did the housing market fall on someone?
Not content with its usual sleight of hand tricks of making forests
disappear, and charming government regulators to look the other way,
Weyerhaeuser has a new trick up its corporate sleeve. Hard hit by a
precipitous drop in the housing market, Weyerhaeuser’s attempts to
survive in a changed environment with the Company’s new “Project
Glinda”, which most closely resembles something out of the Wizard of
Oz.
Under “Project Glinda” which took effect without fanfare on
January 1st, 2009, Weyerhaeuser’s logging operations, log procurement
and marketing, celulose fibre, ilevel, and minor arcana such as WRECO,
WREDECO, and Weyerhaeuser Co. Ltd. will be bound up in the unholy
corporate form of Weyerhaeuser NR. One former WEYCO asset, the Marine
terminal Lease with the Port of Olympia, was transferred to the new
company on December, 17, 2008.
(former) Commissioner of Pubic Hands Sutherland flanked by finance director Von Skwerl and unnamed, unindicted Co-munchkin explaining why the Wicked Witch was not responsible for the flooding of Munchkinland
By conjuring up a new corporate body,
Weyerhaeuser NR, to hold all of its non-timber assets, and conduct all
of its logging related activities, the company has taken the first
step down the Real Estate Investment Trust road that leads to a new
and radically different Weyerhaeuser in the years to come. Although
officially denied by corporate spokesmen, many believe that the
company’s transformation was effected by Daniel Fulton standing on a
stump at the stroke of midnight on New Year’s eve, clicking the heels
of a pair of corks, and invoking the mantra…
There’s no place like
REIT! There’s no place like REIT! There’s no place like REIT! All
through Munchkinland, there is general rejoicing at the news, although
some corporate leaders and munchkins alike were alseep in the Warecrow
subsidized poppy fields, and so missed the formal celebrations.
By Arthur West — awestaa@gmail.com
— Posted to http://forestpolicyresearch.com via gmail to posterous and
also to forestpolicyresearch@yahoogroups.com
Given the current state of the economy, and the need for corporations to reposition themselves for longevity, the author of this post (Arther West) is only demonstrating ignorance here, as well as an illogical, if not completely insane, thought process. The article, in all of its Munchkinland glory, alludes to West having the mental capacity of a 6 year old; credibilty factor: zero. Googling this author. His harassing nature will/has cost millions in tax payer dollars before long. Some of those dollars would be better spent purchasing the “scruffy paralegal” matching shoes, or perhaps even a grown up suit, both more suitable for public disputes. As it stands, I think the author is still suffering affects of the acid he dropped when the Wizard of Oz first came out.
Bite Me.