Shareholder would appreciate CIRI not holding secret meetings

Posted: Wednesday, December 03, 2003

The holiday season is fast approaching and Cook Inlet Region Inc.'s secret meetings are about to begin.

As a CIRI shareholder I would like to be included so I can vote, and I am sure others would like to be included also.

When the CIRI board votes itself a Christmas bonus I want the same amount, as we both own the same number of shares. I feel the board members also should make the amount they vote for themselves public before they actually get the money. Remember what the board told shareholders: "This is all about the future."

I was reading an article the other day that stated that CIRI cannot even put its own shareholders to work, even though we own a percent of various companies and have qualified workers for a variety of jobs. Don't even consider using "Alaska's People," an employment agency, because it has no authority to actually help the majority of us obtain employment.

I know, according to the CIRI annual report, that Carl Marrs, CIRI's president and CEO, earns in one month more than most all shareholders earn in one year. One newspaper reported that in the year 2000 he received $3.8 million, while the rest of the shareholders received $50,000. What could he possibly have done to deserve that kind of money? And why is his 100 shares more valuable than my 100 shares? Looks like a lot of my "future" went into his pocket!

One last thing, at the last shareholders' meeting, a vote was taken to remove Mr. Marrs from his position. What happened to that vote? We were never informed what the results were, as it was never made public. Why not? Could it be that the vote did not go the board's way? I suspect we will never know.

Everett Hudson, Soldotna



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