The bankruptcy judge announced today that he will be approving the Mendocino/Marathon plan. That means the mill/timber lands will change ownership to Mendocino Forest Products. They have a good reputation and this appears to be good news for the community. It will be awhile before we know how or if our jobs will be impacted but putting aside my personal fears I have to admit that for this county this is really good news.
The second part of the plan places the town, residential and commercial, and the power plant in the hands of Marathon Banking. We do not know what that will mean to us as far as the housing goes. We know they will want to sell the houses but we do not know if that will begin immediately or if it will take a year or so to get the ball rolling.... the longer the delay the better for us on this one!
Since our job serves both the mill and the power plant, we do not know what to expect in that respect but I have a reasonable expectation of staying on since we are a contracted service they will need and it is generally more cost effective to use us than to hire inhouse people.
So that is the scoop on the situation here for now. Maxxam/ Hurwitz will be gone and a new regime will take over.