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Viewpoints: Letters / Opinions

70% of Sealaska shareholders live below poverty line

By Dominic Salvato


July 26, 2021
Monday AM

Sealaska shareholders used to be the cake and management the frosting. Fifty years of ANCSA and things are reversed. Shareholders are the frosting being spread thin and getting thinner.

Future drawings of the Sealaska Plaza look wonderful, but they shouldn't come until after shareholders' basic needs are met. As many as 70% of shareholders live below the poverty line.

Sealaska elites can afford to spend shareholder money on anything they can dream up. Hundreds of millions of dollars spent on executive salaries and bonuses proves that. A million dollars plus a year for the board to meet once a month is ridiculous.

Management is so blatant in changing the rules for their resolution it equated to management mocking concerned shareholders. The TRUST resolution (money grab) would have failed if subjected to the same rules as the long overdue term limits and discretionary voting resolutions.

Yet here we are, standing still while shareholder assets are converted into private wealth for Sealaska Elitists. It's been going on for decades..

Sealaska shareholders didn't get those shares for nothing like management would like us to believe. Shareholders endured discrimination and oppression in our own land and by our own Corporation.

I hope that by the time a third generation of the elite's descendants take their place at the banquet, original shareholder descendants will have figured it out.

No Term limits for board members and discretionary voting has led to hundreds of millions of dollars being lost and the rise of the ANCSA Native Elitist. Drunk with power and money, where the only real interest is self interest.

Dominic Salvato
Anchorage, Alaska
Facebook: Sealaska Shareholders Underground





Editor's Note:

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

Received July 26, 2021 - Published July 26, 2021

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