SitNews - Stories in the News - Ketchikan, Alaska

Viewpoints: Letters / Opinions


By Dominic Salvato


December 17, 2019
Tuesday PM

Sealaska shareholders are the one's to blame for allowing a handful of native leaders to convert our combined assets into personal wealth for Sealaska's management. Compensation for executives have topped 75 million dollars in the last decade.

We allowed Sealaska's management to continue past the original date for the stock to be placed under each shareholder control. Shareholder never voted to continue. Managements decided to continue because the shares were worthless.

For fifty years we have allowed the corporation to isolate us further from control of our stock, by raising the total percentage of voting stock to sell, form 50% plus1, to 75% plus 1.

Last year the top Sealaska executive was paid 1.6 million dollars on a 350k salary.
Dividends from Marge Young permanent fund, $1 per share. Dividends from operations, $2 per share.

With 8 board members being appointed out 13.

As an elder, there is no pleasure in informing our young, in my opinion the Sealaska Corporation is grossly corrupt.

Dominic Salvato / Elder
Anchorage , Alaska





Editor's Note:

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

Received December 16, 2019 - Published December 17, 2019

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