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Sealaska doesn't care about shareholders

Letter to the editor

Posted: Friday, May 20, 2005

It's the same thing every year; why not just save money and just keep the same Sealaska Board of Directors in there? That is the way the elections are designed. Year after year we go through the motions; the current Sealaska Board of Directors will be the same ones to make it back on. They designed everything so that only they can benefit from it. Whenever we try to fight them they use the Sealaska attorneys to fight for them, and in reality it is our money that they use against us. If you will look at the portfolio at the director and officer compensation, you will find that Mr. Albert Kookesh gets $3,200 a month, not to mention he gets $500 extra for every meeting that he attends. The other directors get $2,000 a month. That adds up to $24,000 a year plus the meetings that they attend. That would be an extra $500, plus health benefits insurance in the amount of $545.92 a month through January 31, 2004, and $605.44 per month effective Feb. 1, 2004.

Every year I read the same baloney about how much they care about the shareholder and how they want to run for another term, how they want to get more shareholders into Sealaska. So far it's been mostly by gift stockings and inherited shares, and somehow they forgot about the landless. I never hear about that anymore; maybe it's because they are just about ready to retire now and will get those big fat checks from Sealaska when they are gone from the corporation. Many people grew old in there and will not move aside for other talented shareholders because of the way things are set up. I do not want to hear any more rhetoric either.

This came from me as a shareholder of Sealaska, not from my family members, so please do not say things to them for speaking my piece as a shareholder and Vietnam Veteran. I fought for freedom of speech, and I am exercising that right. If their grandparents could see the things they are doing to their people, they would not get away with it.

George A. Paul, Sealaska shareholder

Juneau



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