Sealaska working for the profit of whom?

Letters to the editor

Posted: Tuesday, January 09, 2001

Well folks, here we are, entering the new millennium and our corporation, Sealaska, has, or is, posting a heavy loss with the two subsidiaries. The question still remains: Exactly how much did we lose on each subsidiary? Is our logging operation making a profit or is it keeping the corporation solvent? Is it a profit or a loss to keep on logging? I can only guess that the past 17 years all of the losses have been in the books as a profit.

I as a shareholder would like to hear from the chairman, as he holds an elected position in the corporation. We don't like to hear from a spokesman. Let's hear from the horse's mouth for a change. How is the shareholders' permanent fund doing? Was it capped? I would like to see a bar graph on the profits for every fiscal year, from all the investments and portfolios. It would be in our (shareholders') best interests to hold another annual meeting here in Juneau, as it would be too crowded for 16,000 shareholders to meet in one of the small villages. This corporation has been nonprofit for the shareholders and profit for the management.

Tim Ackerman


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