Mendocino Redwood Co

In an action hailed by environmentalists, a bankruptcy judge in Texas gave preliminary approval Friday to a plan by another timber company to reorganize financially troubled Pacific Lumber Co. and operate its 220,000 acres of Humboldt County land. Deciding the fate of the 145-year-old California forestry giant, Judge Richard S. Schmidt selected the proposal by decade-old Mendocino Redwood Co., largely owned by the Fisher family that founded the Gap Inc. clothing empire.