Alaska Native shareholders worried about future
Thursday, December 4, 2008
Filed Under:
Business
Shareholders in an Alaska Native regional corporation are worried about their financial future.
The 13th Regional Corp. was created to represent Alaska Natives who weren't legal residents of Alaska when the
Alaska Native Claims Settlement
Act. was passed in 1971. it received $54 million as part of the deal but has been hit by hard times in recent years, as investments and ventures have gone bad.
Losses, meanwhile, keep piling up. The situation has corporation directors mounting plans for a recovery.
In 2006, revenue fell to $9 million and losses totaled $2.5 million. The corporation hasn't released a report since then and hasn't held an annual meeting either.
Get the Story:
13th Regional Corp. lays out its difficulties
(The Anchorage Daily News 12/4)
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