SitNews - Stories in the News - Ketchikan, Alaska


Worthless Stock
By Aan Kadax Tseen aka Don Hoff Jr.



June 29, 2007
Friday PM

My hundred shares of stock in Sealaska Corporation are worthless as the paper it is written on. After 36 years since Alaska Native Settlement Claims Act (ANSCA), Sealaska Corporation has not benefited its 17,300 shareholders.

57 % of Sealaska Shareholders Conference June 23, 2007 voted to okay descendants and left outs to receive shares, which totals roughly 5,500 descendants and 100 left outs immediately are eligible to enroll. Regardless what anyone says, it will dilute your dividend check you get once or twice a year. Sealaska spent 1.5 million dollars to buy your vote. Sealaska at the same time suckered the Elders into believing that they would receive additional shares.

Board member Rosita Worl says, "The vote Saturday symbolized the survival of Native values". I did not know that greed and deceit was a Native value. Sealaska Corporation button blanket crest design should be a dollar sign ($). They actually think they represent our Clans and Tribes. Rosita goes on to say, Corporations just don't give stock away. What are you talking about! Sealaska Corp. just gave away 5,600 x 100 shares of stock.

I am fed up in believing that any Native Corporations benefit their shareholders. I want to sell my Sealaska stocks -- Sealaska should be allowed to buy back shares. No one to this day can tell us what our 100 shares of stocks in Sealaska are worth! Sealaska is going to put the screws to the landless communities of Ketchikan, Petersburg, Wrangell and Tenakee Springs, Alaska. Now let's talk about left outs!

Sealaska Corporation does not or ever will speak for the Gaanax adi Clan, Yei l hit (Raven House). I also am getting tired of hearing the "I do it for the people" speech. Sealaska Corporation in my own opinion is a spineless corporation and is a puppet for the Whiteman.

In closing, all land claims belong to the traditional tribes. We want our lands back to build homes and control our own destinies. Don't tell me by selling my stock I would selling my Culture either, because Sealaska Corporation sold us out years ago!

Aan Kadax Tseen aka Don Hoff Jr.
Gaanax adi Clan
Yei l hit
Taan ta Kwaan
Hixson, TN

Received June 29, 2007 - Published June 29, 2007

About: "Shareholder of Sealaska Corporation, Member of the Taan ta Kwaan"

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Ketchikan, Alaska