A shareholders meeting of the Arctic Slope Regional Corp., an Alaska Native regional corporation, turned "raucous" on Saturday, The Anchorage Daily News reports.
Angry shareholders called for the meeting to question low profits and dividends. But soon after it began, chairman Oliver Leavitt said it was illegal due to a lack of quorum.
As Leavitt and other top executives left the meeting, shareholders began to call for his resignation. The meeting lasted another two hours as shareholders criticized executives for alleged mismanagement.
ASRC is considered one of the state's more powerful corporations. Last year, the firm turned a profit of $4.9 million on revenue of $1 billion, the paper reported.
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Dissension breaks out at Native corporation
(The Anchorage Daily News 5/13)
Relevant Links:
Arctic Slope Regional Corp. - http://www.asrc.com
Arctic Slope shareholders call for chairman's ouster
Thursday, May 13, 2004
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