ALERT:
It is beginning to surface that Weyerhaeuser is not the good environmental citizen that they have spent much money trying to promote themselves as...and there now exists the possibility that the core WY businesses of timber/lumber and real estate development revenues may experience some downward pressure because of it. Shareholders should take notice. Read on...
Weyerhaeuser recently began receiving TV and newspaper press coverage as a result of a deal they struck to strip mine Grouse Ridge, a mountain in the affluent bed-room community of North Bend, WA, which happens to be in the middle of the I-90 gateway to the Cascade mountains 30 minutes east of Seattle. The proposed strip mine is claimed to be located directly above a huge water acquifer currently designated as a future major water supply for Seattle and the surrounding region. WY is contracting with Cadman/CBR, a Belgian/German owned excavation and concrete products company whose holdings are cited on the US EPA Superfund toxic clean-up list, the Canadian toxic violator's list, and subject to other government toxic violation actions in Europe. The Weyerhaeuser Grouse Ridge project is now sparking investigative work by the press and others into heretofore unpublicized Weyerhaeuser strip mining activities. The Weyerhaeuser strip mining activities now being uncovered do not reflect favorably upon the company in public and political circles. There are now rumors surfacing that this may lead to political pressure against Weyehaeuser's timber and real estate related government lobbying efforts at both the state and federal levels.
According to comments made by Jean Hunt, an executive of Weyerhaeuser involved in strip mining activities, to a group of WA people recently, Weyerhaeuser "has been strip mining across the nation" and "has 7 strip mines in King County [WA] alone". Yet nothing is mentioned of WY's strip mining business in their annual reports, SEC filings, Annual Environmental Performance Report, or other readily available public information sources, indicating a possible desire to cover-up this business for good reason: the possible tainting affect it may have on their core revenue producing businesses elsewhere in timber/lumber/paper/real estate.
I surmise after reviewing WY's annual report that strip mining revenues, which must surely fall into the "other" category of revenue sources (strip mining revenues are not called out separately), is an insignificantly small percentage of their business revenues. My further opinion is that strip mining is probably not very strategic to WY's future as compared to the continued growth in demand for wood/paper/real estate...thus not very important to shareholder value.
Therefore, I urge shareholders to join me in contacting WY's management and express their concern regarding reckless strip mining activity which could needlessly endanger WY shareholder equity value. Contact chairman George Weyerhaeuser,president Steven Rogel, and CFO William Stivers at 33663 Weyerhaeuser Way South, Federal Way, WA 98003. |
