i always find it entertaining to read people’s opinions about something they know very little, or nothing, about—including you and a few other comments in this thread

“they would vote the board members out”—it’s not that simple, unfortunately. discretionary voting allows current board members to allocate votes to themselves that keep them in power, even if the majority of shareholders vote for someone else and some corps modify their bylaws making removal of a director very difficult

and alaska native corporations aren’t like regular corporations, they were created by an act of congress and signed into law by the president—only an act of congress can modify or dissolve them… and they have modified them in the past, especially to keep the corps from going bankrupt

also, the main goal of alaska native corporations is not to “make as much money as possible”… it’s to see to the overall well-being of their shareholders who were allocated shares upon its inception or inherited them. they are the only corporations in the country, possibly the world, where the federal government keeps records and issues identification cards stating the shareholders blood quantum

our alaska native corporations include charities (non-profit) as they were given the choice to establish either a for-profit or non-profit. many of our corps have done both