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Viewpoints: Letters / Opinions

Shareholders' revolt

By Dominic Salvato

February 25, 2019
Monday AM

The Sealaska Corporation sees the shareholders' revolt as "ungrateful" for the dividends received over the past 47 years. This isn't the case at all. 

In my opinion management has had my chips to play the game, mine and thousands of others for decades. Shareholders have seen tens, if not hundreds of millions of dollars in those chips lost. 

If not for the other corporations and an emergency bill granting more clearcutting, Sealaska would have folded long ago. 

Some shareholders understand the truth of being by-law'd out of ever possessing our own chips to play the game. What we resent is the way we haven't been allowed to change the players at the table. Discretionary voting has glued the same losing players to those seats at the table in spite of one misjudgement after another.

Discretionary voting should have been abolished and term limits imposed voluntarily after the hundred million dollars lost in 2013. Yet, management still authorized a half million dollars to pay in severance, to our losing CEO.

The same Sealaska hierarchy pays itself lavishly and shareholders receive a token in trinkets and meager dividends. 

The parental control of the shareholders chip's and the shareholders themselves, goes on, and on, and on. 

Dominic Salvato
Anchorage, Alaska



Editor's Note:

The text of this letter was NOT edited by the SitNews Editor.


Received February 23, 2019 - Published February 25, 2019

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