April 6th 2008

The Eureka Reporter
April 6, 2008

Supervisor Roger Rodoni announced this week he is pleased to learn that Gov. Arnold Schwarzenegger and U.S. Rep. Mike Thompson are endorsing the Mendocino Redwoods Company and Marathon Structured Finance Fund Plan for Pacific Lumber Co.'s reorganization to lead the company out of bankruptcy.

Rodoni, representing Humboldt County, took part in a special meeting called by California Resources Agency Secretary Mike Chrisman in Sacramento, in which he stressed the principles for weighing the merits of each proposal adopted by the Humboldt County Board of Supervisors.

The governor's principles are closely aligned with those of the county and call for, among other things, for preserving the timberlands by maintaining a level of commercial harvest that will ensure high-quality timber production over the long term, preserving and enhancing watershed and wildlife protection and minimizing adverse impacts to the local economy by preserving local jobs.

Following the meeting discussion and after weighing the merits as to which of the reorganization plans would be most beneficial to Humboldt County and the State of California, Resources Secretary Chrisman was to make a determination and forward the preferred plan to Gov. Schwarzenegger for his approval.

"I feel that I had a significant influence in Governor Schwarzenegger's final determination through my participation in these proceedings", Rodoni stated. "Mendocino Redwoods proposal is a well thought out plan by a company with a proven track record for managing forests in a sustainable and economically viable manner. Their plan will bring the Pacific Lumber Company's timberlands and sawmill operations back together and has the elements to bring a new age to our local timber economy."