This Week in Alaska Business History January 21, 2001

Photo Courtesy of Ryan Air
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

Jan. 21, 1981

Men vote -- women can now join Petroleum Club

By Marnie Brennan

Times Writer

Women are eligible for membership in the previously all-male Petroleum Club of Anchorage following a vote of the membership.

Mailed ballots were counted Tuesday.

"All we’re doing is changing one word in our by-laws: from ’males of the age of 21 years or more’ to ’persons of the age 21 years or more’ are eligible," said Bill Vallee, vice president.

Votes had been taken some half dozen times before women came closest to winning admittance in October 1979, when the vote fell four short of the necessary two-thirds majority.

Following that vote ARCO Alaska Inc., the ARCO Oil and Gas Co., and Sohio-BP Alaska dropped their financial support of the club by refusing to pay dues for company members.

Anchorage Times

Jan. 22, 1981

Haines lumber mill wins case

By Karen Ranspot

Times Writer

A Juneau Superior Court judge has accused an environmental group of "failing to see the forest for the trees" and ordered them to pay a lumber mill’s legal expenses for a bitter 1 1/2-year battle.

The Southeastern Alaska conservation council filed suit against the state of Alaska and Schnabel Lumber Co. of Haines more than a year ago in hopes of blocking a state timber sale. The group claimed the timber sale would endanger an eagle habitat.

Residents of Haines rallied around their largest private employer and approved a sales tax last spring to cover costs of joining the suit against the conservationists.

The mill had been closed for two years at the time due to the lack of state timber sales, and Haines was suffering from a high unemployment rate and a declining population.

10 years ago this week

Alaska Journal of Commerce

Jan. 21, 1991

Permanent Fund wins market ’war gamble’

By the Alaska Journal of Commerce

The Alaska Permanent Fund Corp. won a bold "war gamble" to shed equities in the troubled stock market, with a $150 million sale of stock from the corporation’s index fund managed by Bankers Trust Company.

Dave Rose, the corporation’s executive director, had directed that the transactions to sell foreign equities and currency be complete by Dec. 31.

"It was really a smart strategy, a good business judgment," said an Anchorage financial analyst who follows the permanent fund. "They took a risk in deciding not to try and hedge their bets and ride out the market slump.

"They worked out the planning and strategy and carried it off. There was a risk -- they went out on a limb (by reducing the diversity of the fund’s holdings) -- but they carried it off. You’ve got to give them credit."

Alaska Journal of Commerce

Jan. 21, 1991

Federal Express jet facility

By the Alaska Journal of Commerce

Federal Express Corp. is moving ahead on a plan to build a major widebody jet maintenance facility at Anchorage International Airport. Alaska Industrial Development and Export Authority will finance and build the facility, which is to be operated by Federal Express.

AIDEA officials have been meeting with the cargo carrier, which bought Flying Tigers and built an international cargo-sorting hub in Anchorage. The deal between the authority and the airline should be concluded by March, in time for approval that month by the Federal Express board.

AIDEA’s interest is in encouraging new, high-tech jobs in Alaska, which a major aircraft maintenance plant would accomplish. Also, the presence of this kind of service might encourage international carriers to continue their service through Alaska.

-- Compiled by Ed Bennett.

01/20/2001 - 8:00pm