As the national economy collapsed, Alaska Native corporations lost million of dollars on the stock market last year

Cook Inlet Region Inc lost $57 million, Sealaska lost $54 million and Bristol Bay Native Corporation lost at least $31.9 million. But all three corporations said profits from business operations softened the impact.

"At no point did we panic and get out of the market. History shows that if you try to time the market you end up behind instead of ahead. We did not make significant changes during the year," Patrick Duke, CIRI's chief financial officer, told The Anchorage Daily News.

Other corporations also saw losses. Calista Corporation saw its investment portfolio drop by $7 million and NANA lost $2 million on the market.

Get the Story:
Economy bites Alaska Native corporations (The Anchorage Daily News 6/1)

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