Sealaska spent $2 million of shareholders' money to enroll 1,600 new shareholders, or $1,250 each, just on the campaign for their enrollment. And what is the new shareholders' legacy amount to in dollars and cents? Ninety-two cents per day.
Sealaska's management (30 people) charged new shareholders $98 per year to handle their accounts, or 25 percent of the total dividend for the first year. Original shareholders have earned an average of $1.63 per day in dividends for the past seven years. Yet Sealaska's CEO Chris McNeal makes $1,700 per day authorized by himself and the other board of directors over the same seven years since management lost $122 million.
Sealaska's unhappy shareholders don't have to worry about spending money to pass a resolution that would allow its shareholders the right to sell their shares and forget about the Sealaska Corp. After all who would buy Sealaska stock?
Candidate for Board of Directors