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Viewpoints: Letters / Opinions

Millions to Board Members & Managers

By Dominic Salvato


May 07, 2013
Tuesdau AM

Mr.Richard Harris's letter in favor of the Sealaska bill needs to be read between the lines.

For almost 40 years Sealaska propaganda stated the corporation logged at sustainable rates. Now it's come to light that Sealaska wasn't logging at sustainable rates. This comes as a surprise to most shareholders, but there is a reason.

Let's follow the money in Mr.Harris's case.

According to Sealaska's own figures, Mr. Harris's base salary between 2008-2012 is $1,147.500.00. He grossed between 2008-2012 $2,140,004.00. He will still be paid long term bonus for 2011 and 2012 again this year. Millions for executives and Sealaska hierarchy.

Shareholders dividends from Operation per 100 shares is 85 cents per day. Eighty five cents per day after 298 thousand acres gone. What impact will another 70 thousand acres make on Sealaska shareholders economic life? Small coffee at 7-11?

In fact Sealaska, including 7(i) ANCSA funding has never reached the $5 average per day in dividends for a Sealaska shareholder holding 100 shares of stock.

Sealaska's top 50 boardmembers and managers have taken in compensation, 37 million dollars between 2008-2012, close to 45 million to date.

If people want to help Sealaska shareholders, help us put a stop to executive at risk and long term at risk bonuses. Help us shame this greed based Corporation to assist it's shareholders, of which as much as 70% live below the poverty line, in burial assistance.

Forty years in business, more than 4 billion dollars grossed and native elders must seek burial assistance from charities.

The Sealaska bill is just more raping of native land, to support a top heavy managements 655 thousand dollar a month payroll for the top 50 Sealaska's managers and boardmembers.

Dominic Salvato
Anchorage, Alaska

About: "Originated "facebooks" Sealaska Shareholders Underground. 840 members. Opposed to the Sealaska bill. "

Received May 04, 2013 - Published May 07, 2013

Related Viewpoint:

letter GSACC Propagates Urban Legends and Offers Uninformed Opinion on S.340, the “Southeast Alaska Native Lands Finalization and Jobs By Rick Harris - I read with great interest the April 25th “viewpoint” by David Beebe of the Greater Southeast Alaska Conservation Community (GSACC). - More...
Saturday AM - May 04, 2013

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