Plum Creek shareholders blast land deal

Shareholders have asked Plum Creek Timber Co. http://www.plumcreek.com/ to abandon a deal struck with the U.S. Forest Service, saying short-term gains won through backroom negotiations could result in long-term losses.

“I don’t know if this reaches the level of scandal, but it’s certainly very close,” said Shelley Alpern. “And scandal has a way of diverting a company’s attention and resources. Ultimately, that’s not good for shareholders.”

Alpern is vice president of Trillium Asset Management, a Boston-based investment firm – mid-sized, controlling about $1 billion in assets – with offices throughout the United States. One of those offices is in Boise, Idaho, where company representatives have been getting an earful about Plum Creek’s controversial talks with Undersecretary of Agriculture Mark Rey.

By MICHAEL JAMISON of the Missoulian

Full Story: http://missoulian.com/articles/2008/08/13/news/local/news02.txt