SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                     FORM 8-K



                CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934



       Date of Report (date of earliest event reported): January 15, 2002


                            MAXXAM GROUP HOLDINGS INC.
             (Exact name of Registrant as Specified in its Charter)



                                    DELAWARE
                 (State or other jurisdiction of incorporation)



                                    333-18723
                            (Commission File Number)



                                   76-0518669
                     (I.R.S. Employer Identification Number)





     5847 SAN FELIPE, SUITE 2600
           HOUSTON, TEXAS                                77057-3010
(Address of Principal Executive Offices)                 (Zip Code)




    Registrant's telephone number, including area code:  (713) 975-7600



Item 5.    Other Events

      Attached hereto as Exhibit 99.1 is a press release dated January 15, 2002
and issued by Kaiser Aluminum Corporation ("KAC"), an affiliate of the registrant,
in connection with discussions KAC will begin to have with its noteholders
regarding its near-term debt maturities.



                                   SIGNATURES


      Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Dated:  January 15, 2002
                                        MAXXAM Group Holdings Inc.

                                        /s/ Bernard L. Birkel

                                        By:   Bernard L. Birkel
                                              Secretary


                                  EXHIBIT INDEX


Exhibit 99.1:   Press release dated January 15, 2002