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Letter: Where from here?

Posted: Tuesday, June 19, 2001

Regarding the article in the Juneau Empire on June 12, "Sealaska incumbents re-elected to the board," what we have here is flawed election process and also a select group of shareholders that have abused the process.

The first evil is called the discretionary vote. The vote is not given to the independents to assure the independents are not elected to the board. The select few are the incumbents that receive the discretionary vote. What they have created is a separate class of shareholders that receive benefits that we don't get.

The Sealaska board members also have a retirement benefit from the corporation that was self induced. I don't remember votes on that. We as owners of the corporation should also be entitled to the same. This has happened to another group of shareholders also. It was redressed in court and the shareholders won the case. Another point of interest is the corporation reporting the first loss in 18 years as being $122 million. Let me add to this loss. If you turn to page 30 of the audit report done by the Department of Commerce Banking and Securities, Jan. 4, 1999, you will see Sealaska had losses for the years 1987-89. Of course it was in fact entered as profits. There was no income for the years mentioned. Was this reported to the owners?

This Native corporation does not have to answer to the state of Alaska or to the federal government and last to the owners. So we as Alaska Natives must all be a sovereign nation within a nation. Where do we go from here?

Tim Ackerman

Juneau



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