ANCSA Corporations are Leading Alaska Business.We always look forward to our September issue of Alaska Business Monthly. There is something special about it. In the September magazine we focus on Alaska Native business news. Our record shows that we have always had a soft spot for reporting Native news, even beyond the 13 regional corporation wrap-ups that are the emphasis every September. Now, we have added a department that presents Alaska Native business news as a regular feature every quarter. We defer de·fer 1 v. de·ferred, de·fer·ring, de·fers v.tr. 1. To put off; postpone. 2. To postpone the induction of (one eligible for the military draft). v.intr. to others more expert than we to give you cultural, social and traditional stories. We do business. Three articles by our specialist on Native news, Julie Stricker, chronicle chronicle, official record of events, set down in order of occurrence, important to the people of a nation, state, or city. Almanacs, The Congressional Record in the United States, and the Annual Register in England are chronicles. the events of three regional corporations. Two of them, Bering Straits Bering Strait, c.55 mi (90 km) wide, between extreme NE Asia and extreme NW North America, connecting the Arctic Ocean and the Bering Sea. It is usually completely frozen over from October to June. The Diomede Islands are in the strait. Native Corp. and Bristol Bay Bristol Bay An arm of the Bering Sea in southwest Alaska between the mainland and the Alaska Peninsula. It is a rich salmon-fishing area. Native Corp., have overcome difficult times of the past and have made remarkable successes out of more adverse events. Calista Corp. looks to a brighter future, due in part to a recent and very profitable sale of marginally valued land holdings. This is not the first time that corporations have had a lucky turn of fate. In the late 1980s, thanks to the masterful touch of Alaska Sen. Ted Stevens, Native corporations were able to sell their net operating losses Net operating losses Losses that a firm can take advantage of to reduce taxes. (NOLs) to other corporations needing write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. because of too many profits! This funneled millions of dollars into many Native corporations, affording nick-of-time second chances. Everyone needs a second chance, now and again. Vern C. McCorkle |
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