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Letter: Sealaska board monopolies self-serving

Posted: November 21, 2013 - 1:10am

Sealaska Corporation recently announced a distribution to be mailed Dec. 6 to their stockholders. It’s alarming that distributions from Sealaska efforts are near the bottom of the barrel.

It comes out to 71 cents a share from Sealaska, created by Sealaska directors and using discretionary voting. This shows that Board monopolies are killing Sealaska business.

This June, Sealaska scheduled an annual meeting to be held in Seattle. Consider electing independent candidates that will end discretionary voting at a board level, or risk lower distributions yet to come.

Sealaska board monopolies are selfish and become extremely self-serving against stockholders. Annually, this has become a self-repeating theme with devastating financial results.

Michael Lee Beasley

Sealaska Stockholder

Juneau

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