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Corporate voting isn't democratic

Posted: November 22, 2011 - 12:00am

In response to the article about Ed Thomas’ talk at the Sealaska Heritage Institute’s brown bag lunch series:

Sealaska Corp. has been inventing their own phrases, like “tribal member shareholder” and “economic self-determination,” because they want merge Central Council Tlingit and Haida Indian Tribes of Alaska and themselves into one entity. They want their own seat at the National Congress of the American Indians too.

The Native corporate oligarchy here in Alaska has been living in denial. They believe their own misrepresentations of history. I have two examples.

Example No. 1: “Alaskan tribes were not as directly affected by the idea of Manifest Destiny, the expansion of the United States and white settlers across North America.” — Ed Thomas, November 2011.

If this is true, then why are we a minority on our own homelands with only 5 percent left of our own customs and spirituality. Check Census 2010 for yourself, Alaska Natives are 13 percent of the state’s population.

Example No. 2: “I remember 1971, when the Alaska Native Claims Settlement Act was before Congress and there was a genuine concern in the country about wanting to improve conditions for Alaska Natives.” — Clarence Jackson, July 14, 2011.

If this is true, why do the state penitentiaries have a 45 percent Native population? And why do most Native people living in rural Alaska live in abject poverty likened to developing nations?

The state of Alaska Department of Commerce, Community & Economic Development website states: “ANCSA corporations’ stock is not freely tradable, Congress decided to exempt these companies from the proxy rules of the United States Securities and Exchange Commission (SEC). In 1971, it was thought that the shares would become tradable in 20 years, at which time the corporations would come back under the SEC’s rules. Shortly before 1991, however, the date for tradable shares became less definite in time.”

Corporate voting isn’t democratic.

Proxy votes depend on how many shares of stock any shareholder has in a corporation during each election cycle. I have 50 shares of stock so I get three votes per one share of stock and that equals 150 votes. If there are five candidates running for the board of directors I can vote for every one of them if I want by splitting it into 30 votes each. One person equals any number of votes. Proxy voting would never be accepted by the American people in elections for state or federal representatives so why should Alaska Natives have it for our political system too?

Ryan Olson

Juneau

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Comments (4)

sealaskashareholdersunderground

Discretionary voting doesn't count..........

On Sealaska's resolutions. The passage of the 2012 Term Limits Resolution is the battlefield where change can be won.
One person, one vote.
Sealaska's management has authority to spend more than 100 thousand dollars to defeat Term Limits and to maximize their slate over and above the 330 thousand they spend to buy proxies.
Management has the shareholders newspaper and website to reach shareholders with their propaganda.
Shareholders have found other avenues to communicate with each other without being edited by employee's of the Sealaska Corporation.
30 million dollars being drained off by 50 people in four years rings loud and clear among as much as 70% of Sealaska shareholders that live below the poverty line.

letmypeoplego

sealaskashareholdersunderground

How Sealaska has played the game with shareholder chips...

and the only ones that have gotten rich is Sealaska's management.

In response to a Sealaska shareholder:

Plenty of outsiders completely understand the workings of how your Native voting process works, including the default votes defer to the boards discretion when left unused.
It's a pretty good scam your board of directors puts in place to keep itself in power. All the trappings of a democracy but all the unbalanced power of a theocracy (Divine Power).
You vote, but it means nothing you aren't in charge, you are out voted on anything that threatens the board of directors power, and you can change next to nothing. There are to many apathetic members which works in the boards of directors favor. AND GUESS WHAT IT WAS INTENTIONAL!
There were some people JUST smart enough to rig the system for themselves. It will take a MONUMENTAL effort to undo it.
One vote, one voice, no proxy votes. the choice has always been yours.
For the record, I'm a white man, I have no interest in Sealaska or any other Corporation, I didn't steal your land, I'm not out to get you, I don't begrudge you your benefits, entitlements or otherwise.
Posted by Akromper / Juneau Empire 2008

letmypeoplego

sealaskashareholdersunderground

Hey, White Eyes..............

If you still want to save the heart of the Tongass. The Native people that feel the Tongass has given enough need your help. Make one copy on your printer that says VOTE "YES" FOR TERM LIMITS and tape it up somewhere a Sealaska Shareholder might see it.

letmypeoplego

sealaskashareholdersunderground

Sealaska BOD elections $25 reward for returned proxies.....

The trick with management is they send the proxies with a self addressed postage paid envelope, offering $25 for returned proxies, $25 is more than one months dividend. Most people vote, drop it back in the mail and the check is on its way. You as a voter have only been presented with candidate's 200 word proxy statement. For the most part the election is over. The candidates 200 word statement will show sometime later but you will have your $25 well on it's way to you by then. Management doesn't allow campaigning until proxies arrive. One day deal and 50 folks secured another year at 660 thousand per month, $330 thousand dollars withheld from next months dividend to pay the $25 bounty in the Spring. Discretionary voting is on managements side. More than 100 thousand dollar budget to promote their slate (endorsed Candidates) and to defeat resolutions that threaten their control. They get to count the votes. They compute the returns and where they're lacking they start spending money. Management has the time from the proxies arriving to the annual meeting to get us to change our vote, if need be.

letmypeoplego

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