Editor's note: "This Week in Alaska Business History" revisits events that shaped our past.
"Those who cannot
remember the past are
condemned to repeat it."
-- George Santayana, 1863-1952
20 years ago this week
Anchorage Times
Feb. 3, 1982
Chugach to seek huge rate hike
By Ellis E. Conklin
Times Writer
Chugach Electric Association will file for a permanent rate increase next month of at least 40 percent, and possibly as high as 50 percent, for its 52,000 residential and commercial customers, Larry Markley, spokesman for the utility, said Tuesday.
The increase would be the largest in the 33-year history of the financially ailing electrical utility.
Markley added that the utility could be forced to seek further rate increases later in the year to offset, in part, the cost of a new $53 million generation plant at its Beluga Station.
Also likely to experience increases are 25,000 customers of Matanuska Electric Association, Homer Electric Association and the Seward city utility. All three purchase wholesale power from Chugach.
Anchorage Times
Feb. 3, 1982
Funding prospects for gas line improve
By Dave Carpenter
Times Writer
Four New York banks have informed the sponsor of the proposed Alaska natural gas pipeline that Wall Street has lined up as much as $18 billion in financing for the $30 billion Alaska segment of the project.
In a letter last month to John McMillian, chairman of Northwest Alaska Pipeline Co., the financial institutions also said they believe further credit is on the way from insurance companies.
The letter, disclosed last week by the petroleum industry publication Oilgram News, was sent by representatives of Bank of America, Citibank N.A., Chase Manhattan Bank and Mortgage Guaranty Trust.
Substantial uncertainty remains whether the credit identified by the four banks means the financially troubled project will get off the ground. Northwest projects total costs of the gas line as high as $47.6 billion, and private estimates put it as high as $55 billion.
10 years ago this week
Alaska Journal of Commerce
Feb. 3, 1992
Highway birthday breeds optimism
By Margaret Bauman
Alaska Journal of Commerce
All along the Alaska Highway the welcome mat is out for the 50th anniversary celebration of the highway, with a ripple effect on business being felt over the road and beyond.
A Good Sam caravan to Alaska for recreational vehicles, advertised by the international camping club's headquarters in Agoura, Calif., sold out one weekend in November.
Telephone orders for the Milepost, a thick guide to every mile of the Alaska Highway route, are coming in steadily to Anchorage.
ARA Denali Park Hotels, which operates the Denali National Park Hotel, McKinley Village Lodge and the McKinley Chalet Resort, has sent out more than 8,000 applications in response to advertising to fill 620 jobs.
Alaska Journal of Commerce
Feb. 3, 1992
Japanese study Port MacKenzie
By the Alaska Journal of Commerce
A study by a major Japanese shipping firm, Mitsui OSK Lines, concludes the proposed Port MacKenzie is navigable and operationally feasible, provided guidelines are established.
In a recent meeting with officials from Matanuska-Susitna Borough, authors of the report also indicated they would dedicate three vessels to Port MacKenzie.
"This is great news for the borough," said Mayor Ernie Brannon.
"As shipping agent for the Wishbone Hill Project, Mitsui's review indicates they have no hesitation in bringing Panamax vessels to Port MacKenzie."
The Mitsui OSK study indicates four operations areas will require careful coordination with the borough and other entities.
Mitsui asked that the planned dock face be extended from 400 feet in length to 550 feet, and that the trestle be extended into 60 feet of water.
"Both of these design modifications can be made easily and at relatively little expense," Brannon said.
The study also detailed some navigation issues and states that "it is necessary to adjust the navigation route and establish (some) new buoys and radar beacons." That work has been funded by the U.S. Congress and will take place this coming summer.
-- Compiled by Ed Bennett.
