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reasonably intended to keep D.C. Walker from competing with
petitioner. D.C. Walker intended to and did continue to live
and work in North Santiam Canyon. D.C. Walker had financial
resources available to compete with petitioner. Petitioner
paid the Walker family a $1 million downpayment with petitioner
owing them the balance. The Walkers kept some high-cost timber
contracts that petitioner believed were money losers. After the
sale, the Walker entities owed more to the Government for
timber contracts than the purchase price for the Walker assets.
However, the Walkers owned the timber in those contracts.
Respondent conceded that D.C. Walker's age and health did not
impede him from competing.1 He unsuccessfully bid on timber in
Washington State and tried to buy a mill near Olympia,
Washington. These facts favor petitioner.
Respondent points to the fact that D.C. Walker told Mary
Walker that he was getting older and might want to do something
different. He testified that at the time of the Walker asset
sale he had no thoughts about what he would do after the sale.
He said that he would not retire, and he did not. At the time
of trial, he had a partnership with Bebout which operated a
construction business and a sand and gravel pit. We conclude
1 Respondent conceded that D.C. Walker was in good health
in 1988 even though he had had lung cancer surgery several years
before the Walker asset sale.
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