“There is a strong push to stop all logging of
native forests, but is this really justified from the point of view of
conservation?” asks Professor Stewart in her recent article ‘Forestry didn’t
get it all wrong’ ( HERE ).
ask is logging really justified from a business point of view if losses
continue to accrue.
Stewart’s article was a sober reminder that we are as far away as ever from
agreeing on a way forward for the native forest industry.
Greg L’Estrange completed
another semester last Friday with the release of Gunns’ latest set of
consolidated financial statements for 2010/11.
Greg may be looking for a social license, but the
statements highlight Greg’s progress as he staggers towards D Day, in January
2012, a date with debt and destiny when his bankers will decide whether to roll
over or refinance a large part of Gunns’ debt. The dramatic decline in asset
values and tight cash flows continues the pattern of 2010, a pattern that
largely came to light with the abdication Greg’s predecessor.