No heart of gold

Letter to the editor

Posted: Monday, February 07, 2005

Coeur Alaska would like Juneau to think that the corporation has a heart of gold. We have heard promises upon promises about how safe the Kensington Mine will be and how great it will be for Juneau. Do you think Coeur promises that to their shareholders and board members? No. Coeur promises them a better bottom line, and talks about how much money they are making.

To be fair, that is the point of having a business. Since those shareholders haven't seen hide nor hair of a dividend for at least the past five years, they're probably clamoring for some profit. Corporate profits, not Juneau's welfare or the health of Berners Bay's fisheries, will drive shareholder and, ultimately, Coeur's decisions. I just wish Coeur would be straightforward about why they are pushing so hard to build industrial facilities in Berners Bay. It's not the best option for the natural resources of the bay. It is certainly not the best option for Juneau residents, who will lose a true backyard treasure. This is simply the cheapest option for Coeur, and the corporation will do whatever it can to make the most money for the shareholders of its parent company back in Idaho. Period.

Tom Lee


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