Michael Hurwitz, that illustrious--infamous?--Houston financier, bought out Pacific Lumber in a leveraged(he borrowed a sh*tload of debt)buyout, then couldn't cut fast enough to pay off the note. Then comes the credit bubble bursting, the market for his product dries up domestically, and the sh*t really hits the fan. Why can't "money experts" handle their money? I guess a college education just isn't all it's cracked up to be. What's more, depending on which type of bancruptcy he files under, the debt can be had at pennies on the dollar. Hell, he could buy himself out of this mess...that is, if anyone will lend him more money.