Rise in shareholders won't decrease value

Letter to the editor

Posted: Wednesday, December 13, 2006

This is in response to Tuesday's letter to the editor by Richard Beasley, titled "Sealaska shareholders, vote no to new-borns." Mr. Beasley states, "Right now my ownership in the land is worth a little more than $500,000. I own 100 shares. I also own a bunch of businesses. The day after agreeing to this, I will discover that my half million is now worth a little more than $300,000."

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I understand that allowing future generations to participate in Sealaska stock will decrease the stock value for existing shareholders, but it does not decrease the value of your "investment."

As shareholders of Alaska Native regional corporations, we have not made investments in our corporations, we have been given an "opportunity" to participate in the growth of a venture that we are not at risk in. It only makes sense to expand that opportunity to future generations and allow others to share in the benefit we as shareholders receive from the success of our corporations.

Sam S. Kito III


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