Maxxam Inc.: The diversified firm, which has...

Maxxam Inc.: The diversified firm, which has aluminum, forest products, and real estate management and development operations, posted record 1989 earnings of $117 million, compared to $18 million a year earlier. Revenue totaled $2.4 billion, up from $519 million. For the fourth quarter, Maxxam reported net income of $45 million, contrasted with a net loss of $5 million the year before. Revenue totaled $627 million, up 78%. The Los Angeles concern attributed the results to strong demand and prices for alumina and an overall increase in lumber shipments, plus price increases on the sale of Douglas fir and lower grades of redwood lumber. Also, 1989 represented the first full year of operations for some Maxxam subsidiaries, including KaiserTech.