Weyerhaeuser Co. Q3 2008 Earnings Conference Call Transcript

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2008-10-31 16:01:12.0

Tags: Weyerhaeuser Co., Call Transcript, Banc Of America Securities, Earnings, Financial Accounting, Finance, Seeking Alpha, Weyerhaeuser Co., Call Transcript, Banc Of America Securities, Earnings, Financial Accounting, Finance, Seeking Alpha

Question-and-Answer Session

Yes ma'am. Ladies and gentlemen, we will now begin the question-and-answer session. [Operator Instructions]. And our first question comes from George Staphos with Banc of America Securities. Go ahead please.

George Staphos - Banc of America Securities

Thanks. Hi everyone, good morning. Couple of questions. First Dan, I guess or Tom, in wood products in light of the economy and the extended downtime, we're likely to see at the mills. Is there anything that you need to do differently from a maintenance standpoint during this time of the year than you would normally do? And if so, are there any financial implications from that? And I had a couple of follow-ons.

Thomas F. Gideon - Executive Vice President, Forest Products

Okay, George. With respect to maintenance, I don't know if there is anything differently that we need to be doing. As you know, we conduct our maintenance on an ongoing basis throughout the year as its appropriate to make the adjustments we need to make. So from that respect, I don't see anything unusual occurring.

George Staphos - Banc of America Securities

Okay. Dan, if we look bigger picture, the sales of paper and containerboard look to be pretty well timed in light of the economy. That said, obviously Rico and with products right now are going through very, very difficult periods. Has your long-term view on the prospects for these businesses changed at all over the last year or so? If not, why not, if so, if you could share a couple of detail there?

Daniel S. Fulton - President and Chief Executive Officer

ThanksGeorge. Long-term view is not changed. Clearly, the housing market that we find ourselves in is tougher than what we had predicted. I've used the term unprecedented a number of times in presentations and comments to employees and I really do believe that the cycle that we're in is unprecedented. And we believe those businesses are both positioned to be leaders in their industries and with recovery they are positioned to gain share. And so, our view is not changed, but clearly we've been dealing with a really tough market situation.

George Staphos - Banc of America Securities

Okay. Two detailed questions and then I'll turn it over. One, what do you think the operating tax rate was in the quarter end? And two, what was the acreage sale loss of $87 million related to? Thanks.

 

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