SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
Filed by the Registrant [ ]
Filed by a Party other than the Registrant [ x ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2)
[ ] Definitive Proxy Statement
[ X ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to (S) 240.14a-11(c) or (S)
240.14a-12
MAXXAM INC.
- -----------------------------------------------------------------
(Name of Registrant as Specified in Its Charter)
THE COMMITTEE OF CONCERNED MAXXAM SHAREHOLDERS
- ----------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement,
if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[ X ] No fee required
[ ] Fee computed on table below per Exchange Act Rules 14a-
6(I)(1) and 0-11.
(1) Title of each class of securities to which transaction
applies:________________________________________________________
(2) Aggregate number of securities to which transaction
applies:________________________________________________________
(3) Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11 (Set forth the amount
on which the filing fee is calculated and state how it was
determined):____________________________________________________
(4) Proposed maximum aggregate value of transaction:______
(5) Total fee paid:_______________________________________
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by
Exchange Act Rule 0-11(a)(2) and identify the filing for which
the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the Form or Schedule
and the date of its filing.
(1) Amount previously paid:_______________________________
(2) Form, Schedule or Registration Statement No.:_________
(3) Filing Party:_________________________________________
(4) Date Filed:___________________________________________
<PAGE>
COMMITTEE OF CONCERNED MAXXAM SHAREHOLDERS
P.O. BOX 20877
OAKLAND, CA 94620-0877
For more information contact:
Scott Adams, Committee of Concerned Maxxam Shareholders
(510) 655-8248
Jill Ratner, Rose Foundation for Communities and the Environment
(510) 658-0702
PRESS ADVISORY
CONCERNED MAXXAM SHAREHOLDERS MEET THE PRESS
TUESDAY, MAY 23, 2000, 3:00 PM LOCAL TIME
Crowne Plaza Hotel, San Felipe Room,
2222 West Loop South, Houston, TX
HOUSTON, TEXAS, MAY 22, 2000: The Committee of Concerned Maxxam
Shareholders and other shareholder representatives will brief the
media on their proxy solicitation aimed at reforming the way
Houston-based timber, aluminum and real estate conglomerate,
Maxxam, Inc., does business.
Maxxam stock has lost approximately half its value in the past
year. However, according to Maxxam's May, 5, 2000 proxy
statement, company CEO, Charles Hurwitz, was awarded a $9.3
million bonus for 1999.
The Committee is running 2 independent candidates for election to
the Maxxam board by holders of Maxxam common stock. In addition,
the Committee is supporting 3 shareholder proposals that
recommend steps to increase board independence and accountability
in an election that will be held this Wednesday, May 24, at 8:30
AM, local time, at Maxxam's annual shareholder meeting at the
Houston, Texas Power Center. The Committee's two nominees,
former Senator Paul Simon and former Congressman and federal
judge Abner Mikva are being opposed by the Maxxam board.
Maxxam's holdings include the Pacific Lumber Company, and a
controlling interest in Kaiser Aluminum Corporation. Pacific
Lumber is known for its old-growth redwood timber operations in
Northern California. Kaiser produces alumina and aluminum
products; its alumina production has been reduced by a July, 5,
1999 explosion that destroyed the company's Gramercy, Louisiana
plant, injuring 29 workers, 6 of them severely, and releasing
lye-contaminated bauxite on the surrounding community.
Interviews with Messrs. Mikva and Simon may be scheduled by
contacting Jill Ratner at (510) 658-0702 or Scott Adams at (510)
655-8248.
The following may be deemed to be participants in this
solicitation: The Rose Foundation for Communities and the
Environment, which owns 50 shares of Maxxam common stock; its
President, Jill Ratner, who owns 90 shares of Maxxam common stock
as a tenant in common with Rose Foundation Executive Director
Thomas W. Little; the United Steelworkers of America, which owns
1002 shares of Maxxam common Stock; Judge Abner Mikva, who owns
50 shares of Maxxam common stock; Senator Paul Simon, who owns
100 shares of Maxxam common stock; As You Sow Foundation which
owns 100 shares of Maxxam common stock; and Dorset Management
Corp., which does not own any shares. The Rose Foundation and
the United Steelworkers of America are the members of the
Committee of Concerned Maxxam Shareholders, and Judge Mikva and
Senator Simon are the Committee's two nominees for director.
<PAGE>
COMMITTEE OF CONCERNED MAXXAM SHAREHOLDERS
P.O. BOX 20877
OAKLAND, CA 94620-0877
FOR IMMEDIATE RELEASE For more information contact:
Scott Adams (cell): 510-612-8733
Jill Ratner (cell): 415-602-9571
The Rose Foundation 510-658-0702
MAXXAM SHAREHOLDERS SEEK REFORM
AT MAXXAM ANNUAL MEETING
Houston, TX, May 23, 2000: The Committee of Concerned Maxxam
Shareholders' effort to reform the way Maxxam does business goes
to a vote at the company's annual meeting tomorrow.
The Committee is supporting three shareholder proposals and
running two independent candidates for election to Maxxam's board
by holders of Maxxam common stock. The Committee's candidates,
former federal Judge Abner Mikva and former U.S. Senator Paul
Simon, are opposed by the current Maxxam board.
Maxxam's annual meeting is scheduled for 8:30 AM (central time,)
Wednesday, May 24 , 2000, at the Power Center, 12401 South Post
Oak, Houston, Texas.
Maxxam stock has lost approximately half its value in the last
twelve months. However, according to Maxxam's May, 5, 2000 proxy
statement, company CEO Charles Hurwitz was awarded a $9.3 million
bonus for 1999.
More than 100 United Steelworkers of America members will be
attending the Wednesday Maxxam meeting. 2,900 USWA members have
been locked out of five plants operated by Maxxam's subsidiary,
Kaiser Aluminum, since January 14, 1999.
Maxxam's second major subsidiary, Pacific Lumber, is known for
its old-growth redwood timber operations which remain a focus of
controversy and litigation.
Interviews with Messrs. Mikva and Simon may be scheduled by
contacting Jill Ratner at (415) 602-9571 or Scott Adams at (510)
612-8733.
The following may be deemed to be participants in this
solicitation: The Rose Foundation for Communities and the
Environment, which owns 50 shares of Maxxam common stock; its
President, Jill Ratner, who owns 90 shares of Maxxam common stock
as a tenant in common with Rose Foundation Executive Director
Thomas W. Little; the United Steelworkers of America, which owns
1002 shares of Maxxam common Stock; Judge Abner Mikva, who owns
50 shares of Maxxam common stock; Senator Paul Simon, who owns
100 shares of Maxxam common stock; As You Sow Foundation which
owns 100 shares of Maxxam common stock; and Dorset Management
Corp., which does not own any shares. The Rose Foundation and
the United Steelworkers of America are the members of the
Committee of Concerned Maxxam Shareholders, and Judge Mikva and
Senator Simon are the Committee's two nominees for director.
