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Latest Plum Creek Stories

2009-09-11 06:00:00

ATHENS, Ga., Sept. 11 /PRNewswire/ -- Debt ratings provide an incomplete picture of the business models associated with timberland-owning firms. Fitch downgraded Weyerhaeuser's debt to below investment grade on September 3rd to BB+ from BBB-, citing negative free cash flow, looming debt maturities in 2012, and poor prospects in the housing and lumber markets. Plum Creek, a publicly-traded timber-growing real estate investment trust (REIT), maintained its investment grade BBB- debt ratings...

2008-10-21 18:00:14

Plum Creek (NYSE:PCL) announced today that it completed its previously approved $200 million open-market share repurchase program and that its board of directors authorized an additional $200 million share repurchase program. The program authorizes the company, at its own discretion, to periodically buy back shares of its outstanding common stock with open-market purchases as market conditions warrant. Plum Creek completed its previously approved program earlier this month, repurchasing...

2008-10-06 15:00:17

Plum Creek has until Oct. 14 to decide whether to accept a generous offer from the Land Use Regulation Commission to endorse its application to rezone land around Moosehead Lake for development. The company must decide whether to accept modest changes to the plan recommended by LURC staff. LURC, by moving some development away from water bodies and setting standards for both development and conservation, has improved the plan. At the same time, approval of Plum Creek's plan sets a dangerous...

2008-10-05 15:00:11

Plum Creek's plans have almost been around for so long, they've become part of the Maine landscape. But the recent arrest of four protesters in the offices of the Maine Land Use Regulation Commission reminds us how contentious and difficult the decision-making process has been regarding its unprecedented proposal. Maine has never seen a project like what Plum Creek wants to do. The Seattle timber company wants to build a kingdom in the North Woods: two resorts and 975 house lots in the...

2008-10-02 15:00:30

By KEVIN MILLER; OF THE NEWS STAFF It's officially Plum Creek's call. State regulators gave Plum Creek a formal answer Wednesday nearly 3 1/2 years after the company unveiled Maine's largest development proposal: Either accept our changes to your Moosehead Lake plan or risk walking away empty-handed. Plum Creek officials, who have until Oct. 14 to respond to the Land Use Regulation Commission, said they were glad to see their proposal moving forward. "We're pleased to be at this...

2008-10-01 15:00:21

By KEVIN MILLER; OF THE NEWS STAFF State officials met Tuesday with members of the group that helped stage a small but vocal protest against the Land Use Regulation Commission's tentative endorsement of Plum Creek's Moosehead Lake development plan. While the dialogue was civil, it did not appear to quell the frustrations that prompted Monday's protests and that likely will dog Plum Creek's controversial application for the foreseeable future. "I'm not sure how high our expectations can...

2008-09-30 15:00:31

By KEVIN MILLER; OF THE NEWS STAFF A state office building was locked down for several hours and several protesters arrested Monday in the latest flare-up over Plum Creek's controversial development plan for the Moosehead Lake region. Four members of the group Maine Earth First! chained themselves together using U-shaped bicycle locks wrapped around their necks in the hallway of the Land Use Regulation Commission office in Augusta. The four protesters and other members of Earth First!...

2008-09-25 15:00:29

By KEVIN MILLER; OF THE NEWS STAFF State regulators on Wednesday endorsed Plum Creek's historic development plan for nearly 1,000 house lots, two large resorts and hundreds of thousands of acres of land conservation in the Moosehead Lake region. Despite pleas and strong words from plan opponents, the Maine Land Use Regulation Commission did not make any substantial changes to Plum Creek's unprecedented proposal during 17 hours of deliberations on Tuesday and Wednesday. The commission...

2008-09-24 15:00:29

By KEVIN MILLER; OF THE NEWS STAFF BANGOR - Critics and supporters of Plum Creek's housing and resort plan for the Moosehead Lake region made closing arguments Tuesday to state regulators winding down their review of the largest development proposal in Maine history. For most parties, Tuesday's hearing was the last chance to address the Land Use Regulation Commission before the agency presents Plum Creek with a take-it-or-leave-it scenario. The commission is expected to wrap up...

2008-09-22 15:00:28

By DIANA BOWLEY; OF THE NEWS STAFF GREENVILLE - Selectmen signed a resolution this week supporting Plum Creek's amended 30-year plan for its land in the Moosehead Lake region. While selectmen voted in January to support the plan, Town Manager John Simko believed a resolution would send a stronger message of the plan's significance to the region as the state Land Use Regulation Commission holds two days of deliberative sessions. Those sessions will be held Tuesday, Sept. 23 and...


Word of the Day
tessitura
  • The prevailing range of a vocal or instrumental part, within which most of the tones lie.
This word is Italian in origin and comes from the Latin 'textura,' web, structure.