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FRIDAY, JUNE 13, 2003

The Wall Street Journal runs a lengthy story on the Southern Ute Tribe of Colorado, whose $1.45 billion in assets was built not on gaming but on energy development.

According to the article, the tribe's natural gas company made $100 million in profits last year. The tribe took in half of all natural-gas royalties in Indian Country, the article says.

The money has helped the tribe start other businesses, pay for tribal scholarships, develop cultural programs and improve infrastructure on the reservation.. But it has also caused resentment among tribal members and some in the local community.

"We've found out that the old saying is true -- money is the root of all evil," Annabelle Eagle, 79, tells the Journal.

Some tribal members complain that they only learn of business deals after reading about them in the newspaper. Council meetings often turn into shouting matches, and council members are battling each other over charges of misuse of funds and abuse of power.

Get the Story:
Business Empire Transforms Life for Colorado Ute Tribe (The Wall Street Journal 6/13)

Relevant Links:
Southern Ute Tribe - http://www.southern-ute.nsn.us

Related Stories:
Southern Ute council said to be in shambles (6/6)
Ute tribal member won't talk to council member (05/20)
Ute council member accused of credit card abuse (05/14)
Southern Ute council members investigated (05/08)