Another € ee ‘By JEFF NAGEL : Be, A NEW. YORK vulture fund spurned just Ness Of the, underlying. business.” weeks ago ‘by, Néw Skeena Forest ‘Products is: He--said-. MatlinPatterson: representatives how. poised t to strike. a ‘deal to take, over. Fthe _e also-expected:. to: meet: with, nomhwest munici= na. palities this week, : New Skeena had ‘pieviously: rejected Ma : * tinbaterbon' s. nguie “but. Veniez,, is ‘NOW, Matlin” Patterson “have finaricial depth; get strong’ returns: on. their: “investments,” | said, “Assuming: it's ‘4. go. I don’t think it will. : take'them ‘very: long to writ ‘a cheque: This, ‘is. “nota “bureaucracy.” om : ge Co tlie | investment company ‘ controlled’ “by Canada’ 8: billionaire ‘Thomson. “ al: wounell for. unser ing the: Woodbridge. deal, * Veniez. said no. me - with it-constructively." ; sa start io'logging, - ; 8 the end of the year,” Veniez. said." =. redone. prices won't stay. high, forever.’ keena saviour found | . had. nothing ta do. with. the integrity and sound- ; “said.” : * ties that canbe. turned around. ; Swill, arriye:in, B.C.’ ‘Thursday’ to: begin detailed i va due: diligence: work: ‘on New: Skeena, They’ Te break a P. the: en ter ar id: sell. tie picces. : they’ re.shrewd and they. know what it-takes:to Th he." 2 expert: ‘in: reorganizing. companies, there’ 'S. are ~ Asked -ifvhe- blames ¢ comments’ froin Tertace os Soureed. many. “of its ‘ald depariments and has” = . “persiaded ; sawmill, ‘and ‘pulp mill: workers lo, “Pin not ‘going. “to. ‘blame anybody. for : ; ne anything,” he said:: “We have a- new: reality’. |. * that we have to deal: with, and we have’ to. deal “mentally restructured” company, Feady to’ 20," oe . “said: Veniez, en . “Veniez said he will'c continue to push for an Sat : be targeted for reduction, he” ‘said thal depends o vo s“We.aré’ still hoping: ‘and. we will. make. ‘a’ on-MallinPatterson: strong case. that we. want:to-be up “and. Tanning: : : = saidy “They” will have..their, views on. every: a “A quick, startup .is’ also important : ‘becuse. “thing Fwon’ tpresume:to. prejudge.” a . “We need - tie: liquidity. to. Start t up: and me ‘ The Terrace Standard, Wednesday, August 18, 2004 - Al]. : ~ Vulture: fund. Kept. |oin touch: up. here. oe a ALTHOUGH: MATLIN: Paterson” may: have: been. a7 ~ MatlinPatterson: pursues distressed sompa: | -considered ot of the’ ‘running’! ‘for-New: ‘Skeena: For- 7 “But ‘Pri rince Rupert mayor’ ‘Herb: Pond | “nid. an jt worried ‘that.- MatlinPatterson’ might vopen - = Seome in en Woodbdge backed o out me Weir! dialogue: with ‘Matlin’ ‘Pattterson,” - Pond. said, =. |. adding: many people. had ‘been: denouncing. the firm “and the towns for: meeting: swith them,” a : " “Bach ‘of: the’ municipalitieshad ,a direct: mest -- ing with: thenr and-there were ongoing phone’ ‘and: | émail: “contacts,” he-said.-“We. were" ‘keeping. ther: : me BO. ERS = fein ‘the loop... ; “company. has “already: out-. |!) Terrace’ mayor “Jack: Talstra. won't: réveal what “MatlinPatterson Officials: indicated about. their in-_ . : Stentions: when, city council met: with. them. in June: Though the vulture fund j is caw be an ! take. major pay cuts in return for profit. sharing. “What.we have. in. front of them-is a funda- ie “town,” Talstra said, “I found them to be’strictly bu-” * siness- in: nature-and. quickly cutting | to the chase: It.’ :.'.| was. very refreshing ve “Asked ‘if. the” profit-shafing. -provision. could’, 4 And yess me the’ term vulture Func may bes}. _cimisleading, “Right” now I'd call them: a saviour ra-"— “ther than-a:vulturé,":he said,” Ce ue “They. pick up” distressed companies cheaply. = This: is. what-they. do.“You can: attach“ whatever |. ; “fs label you, want othat. They, invest. sufficient funds’-- . Mentiez said-he'll be. open to cide as for. im. “to. turn:those companies around’ and. then. they sell. [> provement. ‘They: ‘might: have: some ‘new ‘or.’ them’: ‘at: ‘top price.: That's’ the game. they" re ine It’ -| different. ideas“on-how. to. ‘shape, the ‘business. “seems to: me New Skeens fits shat picture i “Everything: is ‘subject to. review, ” Vehiez. “Karsten Krahe-. August 2st. | - “Kim! Westgate: a . ‘Ben Casquilho © Buguet let. “Boot Swa nson fugue ust 2 at FIRST NATION'S SOUVENIR & GIFT STORE @ Qnen Sundays Noon - 5:00 p.m. - Skeena Mall * Terrace 1-800-563-4362 IN orthwest | Escapes By Sierfe Allison . me : As the: summer progresses mushrooms and fungi are” ‘becoming more noticeable. Thege unique organisms (and -./-micro organisms) ‘are classified in’ their.own kingdom. ‘|. -hecause they aren't considered a plant or. an animal. Fungi: “lack -chlorophyll and can’t photosynthesize like’ plants, instead they draw. their sustenance from decaying organic ; matter. of live plants.” ; Mushrooms are the reproductive: part. of the fungua- ; -;: | organism and have-developed various mechanisms to dis- | -- - ~-| ‘perse spores. Larger fungi can be divided ‘into two general: " |" categories according to how they distribute their s spores. : Spore droppers or Basididniycetes. develop spores. that. : fall from: the fungi and § are, often blown by the wind, to new ” | growing areas, Phy : “Asemycetes are spore. shooters. Phase fungi: produise “spores in, flask shaped’ sacs. (asci) “and when the: spores have matured they are shot thraugh the tips of the asci.: «When: attempting to identify; ‘a mushroom or fungi: some a characteristics to take-into account include habitat,‘colour -| ° - :| and texture of,the flesh; the shape, the attachment of the “gills to the stem and the size arid colour. of the cap.: . "Fungi, or mushroom .caps* grow ‘ina broad range of ae shapes. Just, a fow general categories of cap. shapes include | . -| eonvex, conical, funnel,. shaggy and: folded: (resercbles a, - | brain-in: appearance), . The’ temperate climate of Lakelse Lake Provincial Park dos. is. ideal for fungi, during’ youu next visit’ see. how many you: can logate and identify. Some’ commonly seen fungi: include ‘puffballs’ ‘These : * white. to buff coloured ball shaped fungi are, perhaps: -best.. :| ‘known for the cloud of spores they release when disturbed. ~Puffballs ‘receive their nutrients:from: dead: plant matter - ~and are therefore. kriown as saprophytes. etal Another. commonly seen fungus'is bracket’ shaped ‘and a, ” grows on trees. The Gray: Fire Bracket fungi has'a woody | . | -texture-and ia parasitic feeding off & a ‘Wide range of trees i in : “northern regions. an ‘Remember to leave all mushrooms in their’ atural hati '|.tat when’ ina provincial park. This ensures. amateur. | |. mycologists: everywhere have. a: ‘variety. of fungi. to study: of and classify, :..* 1. _o fp: Ooops correction ‘to. Jast week's: tree articles deciduous we trees have leaves and. coniferous trees have needles... ors Variable rate as low as TD prime' 3 75" Option to lock into a competitive fixed rate Flexibl@ repayment options , TD prime rote os of August 10, 2004 ee) \ Nisga’ a 1 Memorial. eo Lava Bed Park - Don't let the summer pass’ Multiple terms available Flexible Option Mortgage: . : Adjust your options to meet your r changing needs, When. it comes lo. mortgages, gel the 8 options that: let. ‘you, go-al your, own pace; one that can adapt. to your’needs.” °°. 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