Questions about Freshly cut logs

Hi, couple questions:

1. What's the proper way to air dry logs (i.e. mango wood)? Strip the bark? Wax the ends?

2. If I decide to carve into a freshly cut log, should I worry about it cracking later? How long should I wait to apply finish?

Thanks

[ Edited by: ganthis 2008-03-27 23:40 ]