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I'm sending only the first paragraph of the following story. An "IPO" is a
stock offering or "going public."

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BIOTECH: Tree developer postpones IPO (05/11/2011)
Paul Voosen, E&E Reporter
The biotech tree developer ArborGen LLC has, at the last minute, postponed
its plans to sell shares on the NASDAQ exchange, one of the company's
primary investors announced today.
Apparently, the market was not ready to support ArborGen, which has not
received regulatory approval to sell its bioengineered trees. However, the
three timber giants backing the firm -- International Paper Co.,
MeadWestvaco Corp. and New Zealand's Rubicon Ltd. -- will continue to
support the company, they said, though it has not yet turned a profit.
"All three partners remain committed to the future success of the company,"
Rubicon said in a release to the New Zealand press. "And an ArborGen IPO
will be reconsidered in the future, when market conditions are more
favorable."

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COMMENT: Sierra Club participates in the Stop GE Trees Alliance and we have
opposed these genetically engineered eucalyptus trees. Eucalyptus trees are
already an invasive species in warmer areas and have now been GE'd to be
invasive in cooler climes. Traits such as low lignin or fast growth added
to these trees could spread beyond original plantings and greatly compound
the problems they pose. Plantations are never forests and in addition to
the losses of wildlife habitat and soil carbon, biofuel from trees can't be
profitable without government subsidy, and encroachment on arable land for
biofuel (no matter where in the world it occurs) will raise food prices.

Jim Diamond, M.D.
Advocating for healthy societies on a healthy planet

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