Confirmation by AK Legislature of AK PFD Board

Have you ever thought about the Board that sets the amount of money you get every year as a Dividend? Please check the website Alaska Permanent Fund Board Confirmation Committee. Why should APFB that is currently only a gubernatorial appointment be confirmed by Alaska Legislature? There are those who will tell you that confirmation will politicize the board.

How ridiculous!

Confirmation will create for the first time since 1976 a system of checks and balances or communication links between the board and Alaska Legislature so that there will begin to be accountability.

The primary “ringleader” of current Alaska Permanent Fund Board is William G. Moran Jr., chair, who between 2006-2009, his first three years on the board, was able to increase the value of his two privately held banks, First Bank Ketchikan and Community Bank, Joseph, Oregon, by about 330 percent. APFBCC posts APFB’s signed investments that can be downloaded around the 15th of each month.

Last month Moran invested $26,047,765.71. This is your money, Alaskan. Can you start asking questions about your money?

Past and current APFB members are only enriching their private bank accounts by making individual investment transaction disclosures, or IITDs, in the stock market.

A.S. 37.13.110 “Conflicts of interest” refers to A.S. 39.50.010 findings and purpose: “to discourage public officials from acting upon a private or business interest in performance of a public duty.”

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Judge for yourself if what APFB routinely does is in the best interest of Alaska Permanent Fund or in the board members’ self-interests.

The board’s IITDs are completely legal at this time. What this board routinely does could be a chargeable criminal offense of “Insider Trading” anywhere else in the United States. The board hires the brightest investment managers in the United States in order to get the best stock market investment advice that other Alaskans cannot get.

There is no oversight whatsoever of APFB. Alaska banks hold the fund money and collect interest on it. We do not support “Pick Click Give,” paid for by Rasmuson Foundation, so that you will not even notice APFB.

A handful of unbelievably wealthy Alaskans primarily connected for decades to Alaska Permanent Fund money maintain the status quo. They do not care about accountability because they make monthly fortunes from their investments. Alaska Permanent Fund makes these few Alaskans unfathomably wealthy while the rest of us are eking out a living.

To our knowledge, half of state royalties go into the Permanent Fund. We get a dividend, and that is all. In fact, Sean Parnell has already announced that he is going the double our dividend next year so he can be reelected governor for another four years.

The strategy is to upset us hardworking Alaskans. During the last municipal election, we saw Ordinance 37 enacted, which is intended to dismantle Anchorage unions. The matter is in the Alaska Supreme Court at the present time.

I do not have information on moves to “regroup” the College of Arts and Sciences at UAA, but this is another issue that upsets the entire staff and takes the focus off education in the wealthiest state in the nation.

We need to partner with the oil industry taking the risks and the rewards like Norway has done. We should not give leases based on the highest bidder but on the best bidder. Norway found that it did not work to hand over resources and not be “at the table” during the entire process of oil development. Partnering is foremost in the effort to develop a possible gas line. Let’s do it Wielechowski’s way. Alaska will be so much better off if we can learn from the Norwegians.

I hope you inform yourself about these very significant issues. For more information, visit

Theresa Obermeyer