Profits are falling at Goldbelt, Inc. Juneau’s urban Native corporation, resulting in the slashing of the shareholder dividend.
Revenues and profits fell at both Goldbelt’s locally prominent tourism business, and its financially important government contracting business as well.
In Juneau, a second year of bad weather limited the number of tourists riding the Mount Roberts Tramway, said Bob Loiselle, CEO of Goldbelt Inc.
“It was a wet, rainy summer,” he said. “That discourages folks from going up, which impacts our revenues.”