Maxxam Leading American Real Estate Business House

Maxxam Inc was founded way back in 1955 in Houston, Texas. Its office is situated at 1330 Post Oak Boulevard, Suite 2000, Houston, Texas 77056, USA. The company owns & operates through several real estate, forest products and racing subsidiaries.

The forest product subsidiaries grow and harvest Red wood & Douglas- fir forest and cut the trees into timbers. These timbers are cut into logs and processed into lumbers. Under the umbrella of Maxxam, the subsidiaries own 210,000 acres of timberland in Hum Bolt County situated along the northern coast of California. One of the main forest subsidiaries of Maxxam is Pacific Lumber Company (PALCO) which was acquired by Maxxam in1986.
Real Estate operations of Maxxam develops & lease, through its subsidiaries, commercial & residential properties mostly in California, Arizona, Puerto Rico & Texas. Among the real estate subsidiaries, the three most important are: Scotia Development LLC, Palmas del Mar Properties Inc and MCO Properties Inc. Maxxam also develops golf courses associated with building complexes and resort related facilities in certain locations.
The Racing Division of Maxxam owns and operates horse and greyhound racing facilities. The present Chairman of Maxxam was instrumental in starting Horse Racing in Texas. In 1994, the company opened Sam Houston Race Park (SHRP) and in 2000, it opened Valley Race Park.
The results for the past three years of Maxxam show that the revenue of $291,500 thousand was earned during last year. Though cost of revenue went down to $194,400 thousand during corresponding period, the Gross Profit went down to $97100 thousand. The gross profit earned in the year ending 31/12/2005 was $168000 thousand. The figures in the last year were even lesser than the figures achieved in 2004.
But the operating income far exceeded than those of previous two years. The income from continuing operation last year was also far more. With lower operating expenses in the last year compared to the previous two years, there was Net Income in the last year to the tune of $374,400 thousand while there were net losses in the two years prior to that. Mr. Charles E Hurwitz who is the major direct shareholder, holding 12,600 shares is the Chairman of the Board, Chief Executive Officer and the President of Maxxam.Wikipedia