Judi Bari interviewed by Barry Vogel on Radio Curious - March 27, 1995
Show notes by Nicholas Wilson:
In this half-hour Radio Curious interview by Barry Vogel, Judi gives a brilliant analysis of how Texas corporate raider Charles Hurwitz took over Pacific Lumber with the help of junk-bond king and convicted felon Michael Milken. Hurwitz then immediately began liquidating PL's assets, including tripling the previous rate of cutting of the largest remaining privately owned stands of old-growth redwood forests. Judi explains how, instead of using the proceeds of the liquidation logging to pay off the junk bond takeover debt, Hurwitz then used financial trickery to line his own pockets to the tune of hundreds of millions. Hurwitz split PL into three parts, leaving the bondholders the cut-over timberlands while putting Headwaters Forest into a debt-free subsidiary controlled entirely by himself, so he could sell it off to the government and pocket hundreds of millions. This interview was first broadcast on March 27, 1995.