April 30, 1989 |
In some quarters, Maxxam Inc. wouldn't rate as anybody's favorite corporation. The Los Angeles-based real estate development company has a history of attracting negative publicity, including a loud chorus of condemnation over the accelerated cutting of redwood trees after its move into California's lumber industry in 1986. But investors applauded last year when Maxxam bought KaiserTech, the parent of Oakland-based Kaiser Aluminum & Chemical. Maxxam's shares rose 225% in the past year, showing the greatest stock price appreciation of all California companies surveyed by MZ Group of San Francisco.