GLG News by OSB Experts

Brad FranchiPresidentForest Strategies, LLC.

Japan earthquake and tsunami, 2011

March 14, 2011

Latest Friday, Japan suffered one the greatest natural disasters in the history of civilization. The extremely powerful earthquake and tsunami has some estimates of the loss up to life up to 10,000 people at this point. After the magnitude of what happened sinks in, Japan will need to address re-building infrastructure destroyed by these two events. One of the commodities that will be important to recovery is softwood lumber

Ron MusolinoPresidentRM Consulting

Is The Pain of the Housing Recession Close to Ending?

October 21, 2010

Analysis of:U.S.: Is The Housing Recession Starting To Recede? | www.businessweek.com

In a time where there's so much bad news, can we at least be comforted that the decline in home building will soon end? With all the complex issues plaguing the economy, there is no end in sight for the housing recession we are in. Serious problems, such as unavailability of financing, high foreclosures, potential tax increases and growing unemployment are all counter to a return to home construction "normalcy." It will be years before we could right ourselves and make the necessary corrections to get things going again.

Brad FranchiPresidentForest Strategies, LLC.

El Nino gives away to La Nina while in climate nuetral

August 12, 2010

Analysis of:El Ni�o and La Ni�a: Weather's Sibling Rivalry | www.dummies.com

If you recall, last year was dominated by strong El Nino conditions, which included very heavy rain patterns. in the Southern Pine Belt in the US South. By late winter many mills were exhausting timber supplies, and the spot market for especially hardwood pulpwood, with spot prices spiking 50% or more.This El Nino quickly turned down into La Nina or possible neutral conditions, marking a very quick turn around for this cycle.This transition is one of the shorter ones.

Robert WeinbergerSole ProprietorBob Weinberger Forest Management Consulting

Why wheatstraw (and other ag waste items) may not be suitable for bioethanol

March 6, 2010

Analysis of:Excellent use for wheat straw-Cellulosic ethanol | councils.glgroup.com

Grain producing countries generate huge amounts of wheat straw waste that must be disposed of.  At first glance this would seem to be an excellent source of cellulose for bioethanol.

Brad FranchiPresidentForest Strategies, LLC.

NOAA sees El Niño continuing into 2010, with possible record Damages

February 12, 2010

Analysis of:NOAA sees El Nino strengthening through 2009 | www.reuters.com

The 2009-10 El Niño cycle is heading to exceed all predictions of intensity. Starting with abundant rainfall last autumn, and continuing through the Midwest, and in the South USA. The last two most powerful El Niño were the1997-1998 cycle, followed by the 1982-83 event, I was speaking to local logging managers earlier this week, and it became apparent that spot markets on pulpwood is rising as much as 30 to 40%, in an effort to keep the paper Mills supplied.

Brad FranchiPresidentForest Strategies, LLC.

Lumber pricing moves up in 2010, El Nino adds to rising costs

January 29, 2010

Analysis of:NAHB: Framing Lumber Prices | www.nahb.org

As usual, the timber and lumber markets are showing a high degree of correlation. The National Association of Builders is showing $14 per MBF increase so far in 2010. Although a months worth od data is not a solid trend, it does make sense when considering other factors. A tepid lumber rally, combined with El Nino, and new Biomass demand will all "push" pricing forward. If you recall, the timber and lumber markets are highly correlated, if not lagged. as loggers struggle to raise production

Brad FranchiPresidentForest Strategies, LLC.

Timber REITs - A brief history of how we got here ?

January 15, 2010

Analysis of:The Basics Of REIT Taxation | www.investopedia.com

A review of the last 50 years of industrial timberlands begins during the depression, as these large paper companies purchased huge tracts of timber and at very low basis. In the early 1980s, Sir James Goldsmith and others realized the entire corporation could be bought and broken up – to get the timber virtually free. The mills preferred c-corp ownership and enjoyed low costs as the depletion rates were very low, under $0.25 per ton in some cases.

Brad FranchiPresidentForest Strategies, LLC.

WY REIT - how does the announced REIT stack up to previous timber REITs?

January 5, 2010

Analysis of:WY to become REIT | abcnews.go.com

Recently, WY announced a conversion to the REIT ownership, marking the near end of C-Corp timberlands. THis conversion, resisted for many years by WY can be compared to other other efforts.The original REIT effort was completed by the sale of the former GP timberlands to Plum Creek. The merger was augmented by employment of an obscure finance tool, the Reverse Morris Trust (RMT), in which the smaller entity absorbs the larger business. Examination of previous conversions might shed light?

Brooks MendellPresidentForisk Consulting

Timber REITs: Weyerhaeuser's conversion yields mixed results for investors

December 16, 2009

Analysis of:Weyerhaeuser board OKs conversion to REIT status | hosted.ap.org

Previous REIT conversions by timberland owning firms and recent performance of timber REITs provide guidance for short and long-term investor expectations associated with Weyerhaeuser's announced REIT conversion.  These include short-term profit taking for current investors and improved liquidity for long-term timberland investors.

Brad FranchiPresidentForest Strategies, LLC.

WY takes the REIT plunge - marks almost total divest of C-Corp

December 16, 2009

Analysis of:Weyerhaeuser Announces Intent to Elect REIT Status; Timing Under Consideration | www.earthtimes.org

The WY change in status marks the end of the wild CCorp ride, acres formally owned peaked out in the 1980's at 50 MM acres, Corporate raiding, defensive owners, and REIT formation has driven these CCorp lands down to 5-6 MM acres, owned mainly by WY and MWV, REIT rules are much more stringent then CCorp lands, and until last year the GAAP rules favored REiTs. One major difference is with most earnings returned to investors, operating capital may be limited,I have white papers avaiable

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