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Business Briefs

Posted: Thursday, June 06, 2002

Huna Totem holds annual meeting

JUNEAU - Shareholders of Huna Totem Corp. elected three board members for three-year terms at the company's 28th annual meeting, held May 18 at the Alaska Native Brotherhood Hall in Hoonah. Huna Totem is the village Native corporation for the town on Chichagof Island, west of Juneau.

Corporate officials also named a new chief executive officer and reported on several measures aimed at increasing revenues for the corporation.

Nearly 84 percent of shareholders voted by proxy or in person to elect Bertha M. Franulovich of Seattle and Paul White Jr. and Russell Dick of Juneau to the board. Newcomer Dick is a natural resources manager for Sealaska Corp. and holds bachelor's degrees from the University of Phoenix and Stanford University.

Board members re-elected Albert W. Dick of Hoonah as chairman, Franulovich as vice chairman and William "Ozzie" Sheakley of Juneau as secretary-treasurer.

Chairman Dick announced Chief Operating Officer Samuel J. Furuness has been named chief executive officer. Former CEO Peter Hocson will remain as chief executive officer of BrightStar Investment Management, a money management firm started in 2001 in which Huna Totem Corp. is a majority partner.

Four Huna Totem shareholders were recognized for their service and commitment to the shareholders, the corporation and to the greater Alaska Native community: Harvey B. Marvin, Marlene A. Johnson, Ernest W. Hillman Jr., all of Juneau, and the late Frank See Sr. In particular, their work toward the passage of the Alaska Native Claims Settlement Act in 1971 and their work building the corporation's foundation in its infancy were honored.

Huna Totem Corp. owns 23,040 acres and has $35 million in net assets, $25 million of which is stocks and bonds. It also has business interests in commercial real estate, banking, electrical transmission, publishing, money management and tourism. In addition to corporate shares, the 1,200 shareholders are beneficiaries of a $35 million Shareholder's Settlement Trust.

Western Auto sponsors giveaway

JUNEAU - In support of National Fishing and Boating Week June 1-9, Western Auto-Marine is sponsoring a "Take Someone Fishing" giveaway. The giveaway will be six salmon charter fishing trips for two people aboard the Beartrack, owned and operated by Capt. Todd Wicks of Auke Bay Sport Fishing.

The goal of the giveaway is to encourage fishermen and women to introduce someone who has never fished or to reintroduce someone who has stopped.

To submit an entry, visit the sporting goods counter at Western Auto. Entries will be accepted through June 9. Entrants will be asked who they want to take fishing and why. Entries will be judged on the basis of their response. Winners will be selected and notified Monday, June 10. All charter trips will take place Father's Day, Sunday, June 16.

Permanent fund selects new equity manager

JUNEAU - The Board of Trustees of the Alaska Permanent Fund Corp. last week selected a new value equity manager, Tukman Capital Management, to manage approximately $480 million.

Tukman, a Larkspur, Calif., company with 22 years of experience and $8.8 billion in total assets under management, will manage a portfolio of large-cap U.S. value stocks for the fund. The APFC's benchmark for this portfolio is the Russell 1000 Index. Tukman replaces Invesco Capital Management.

Tukman's investment philosophy is to manage a concentrated portfolio of high quality, large-capitalization companies with high returns on equity, industry leadership, high net cash flow and below-market valuations and risk levels. The portfolio is expected to include fewer than 20 stocks with an annual turnover range of 10 to 30 percent.

"All three finalists had superior performance, but Tukman's concentrated, core approach offers the best fit for the Permanent Fund," said Jim Sampson, APFC board chair.

The other two finalists, who were also interviewed by the board of trustees last week, were Barrow, Hanley, Mewhinney and Strauss and Wellington Management Co.

As of April 30, 2002, the Alaska Permanent Fund totaled $25.4 billion, including $9.1 billion in U.S. equities and $4.3 billion in non-U.S. equities.

Seafood industry revs up for summer hires

JUNEAU - Seafood industry employers are preparing for the salmon and pollock processing season, the largest commercial summer fisheries in Alaska. The Alaska Department of Labor and Workforce Development is encouraging interested workers to apply early through Juneau Job Center.

Labor's Employment Security Division, through the Alaska Job Bank at www.jobs.state.ak.us, is advertising for 60 openings from seafood employers in Bristol Bay and from Quinhagak in Western Alaska to Petersburg.

Jobs advertised are aboard at-sea processors and in shore-based processing plants and hatchery facilities, with hourly wages of $6 to $7.50 per hour. Some employers provide transportation plus room and board.

More highly skilled and better paid seafood industry positions this season include: Captain for a tender out of Nome, dock foreman in Homer, fish sampler in Dillingham, production equipment technician in Sitka, controller in Cordova and fisheries technician I, II and III positions with the Alaska Department of Fish and Game in various parts of the state.

To set up an interview with an employer in Juneau, call 465-4562 or (800) 473-0688.



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