Item 8.01 Other Events.

On August 24, 2009, MAXXAM Inc. (the "Company") issued a press release announcing that it will convene, as promptly as practicable, a special meeting of its stockholders to approve, subject to final action by the Company's Board of Directors, a 1-for-250 reverse stock split of the Company's common stock and preferred stock. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.