abm nov 2013 4 web

ArcticPolicy|ANCOutsideInterests|InvestmentServices|InsurancePlanning

November2013 $3.95

Mining Mining Mining Mining Mining Mining Mining Mining Mining Mining Mining Mining Mining Mining Mining Resource Development Page 78Building Alaska Page 148

Page 90

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Fairbanks Branch2615 20th Ave. Fairbanks, AK 99709 (907) 455-9600(907) 455-9700 F

Ketchikan BranchPO Box 1434 Ward Cove, AK (907) 247-2228(907) 247-2229 F

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4 Alaska Business Monthly | November 2013 www.akbizmag.com

From the Editor. . . . . . . . . . . . . . . . . . . . . . . . . 7Inside Alaska Business . . . . . . . . . . . . . . . . . 8Agenda . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .49Right Moves . . . . . . . . . . . . . . . . . . . . . . . . . . .54Alaska This Month . . . . . . . . . . . . . . . . . .160Events Calendar . . . . . . . . . . . . . . . . . . . . .164Alaska Trends . . . . . . . . . . . . . . . . . . . . . . . 165Whats Next . . . . . . . . . . . . . . . . . . . . . . . . . 168Market Squares . . . . . . . . . . . . . . . . . . . . . 169Ad Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170

ABOUT THE COVERMiners scaling with pry bars at Coeurs Kensington Mine in Southeast Alaska. Scaling is the taking down of loose material from the roof, ribs, and face in hard rock mining. The mining industry is the focus of the November issue, the special section begins on page 90. Cover photo courtesy of Coeur Mining Inc.

N ov em b e r 2 0 1 3

T A B L E O F C O N T E N T S

ARTICLES

DEPARTMENTS

VIEW FROM THE TOP

12 | Robert Retherford, President

Alaska Earth SciencesCompiled by Mari Gallion

MARITIME LAW30 | The Law of the Sea and Its Effects On Offshore Mining

By Isaak Hurst

SOCIAL MEDIA32 | Using Facebook for B2B Marketing

Taking action for business growthBy Tyler Arnold

MARKETING34 | You & Your Brand

Make the truth fascinatingBy Julie Stricker

INSURANCE ESSENTIALS38 | Year-End Insurance Planning

Review for strategic risk managementBy Eliza Evans

TELECOM & TECHNOLOGY42 | Hardware Upgrades

What that means in todays throw-away world

By Mari Gallion

ENERGY46 | Natural Disasters and Energy

Local utility companies cover contingencies

By Dimitra Lavrakas

HEALTH & MEDICINE50 | Preventive Health Efforts

Staying healthy this winterBy Susan Sommer

ALASKA NATIVE CORPORATIONS56 | ANC Outside Interests

Bringing money back to AlaskaBy Julie Stricker

FINANCIAL SERVICES14 | Investment Services Help Alaskans Meet Financial Needs

Catering to the needs of large companies, small business owners, and individuals

By Tracy Barbour

ICONIC ALASKANS20 | Margy Johnson

A driving force in Alaskas growth and success

By Shehla Anjum

ARCTIC POLICY24 | Alaskans Should Lead Americas Activities in the Arctic

By US Senator Mark Begich

25 | The Arctic Region: Part of Who Alaskans Are

By US Senator Lisa Murkowski

26 | Coming to Agreement in the Arctic

Getting to know Alaskans and their views

By Shehla Anjum

2

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Margy Johnson is an Iconic Alaskan.

20

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Norman Parrott, Senior Vice Presi-dent Investments and Anchorage Re-gion Manager of Wedbush Securities, shows off a 32-inch rainbow trout caught and released in the fall of 2012 at Mystery Creek, Alaska.

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14

Tom ZimmermanUniversal Welding & Fabrication, Inc.

Pam WentzVice PresidentJohansen Branch Manager

The building industry in Alaska faces challenges like no other in the country. From extreme weather to daunting logistics, it takes a special kind of focus, commitment and drive to build in the Last Frontier. When youre on the go 16 hours a day, seven days a week, its easy to overlook details like cash management, payroll, working capital and expansion. And thats where First National Bank Alaska can make a real dierence. From a complete array of cash management tools and expertise, to fast, local decisions on loans, our friendly, experienced Alaska business specialists can help you activate a successful business strategy.

SStop by one of our convenient local branches, or simply visit FNBAlaska.com.

nancial blueprint for your BUSINESS

Maybe its time to think about a


N ov em b e r 2 0 1 3

T A B L E O F C O N T E N T S

special section

Building Alaska

90 | Alaska Mining Industry Update

Benefits touch every corner of the state

By Deantha Crockett

94 | Active MinesProduction rising

By Julie Stricker

100 | Taking StockBristol Bay Native Corporation surveys its assets

By Dimitra Lavrakas

104 | Local GravelOperators are good neighbors as construction growth continues

By Vanessa Orr

112 | Alaskas CoalClean burning and abundant

By Gail West

118 | On the Rocks?Anglo American pulls out of Pebble project, but remaining partner perseveres

By Wesley Loy

122 | Rare Earth Metals Milestone

Moving forward with Bokan-Dotson Ridge project

By Nicole Bonham Colby

126 | Alaskas Gold to Alaskans Dear

What happens to the gold that leaves the Last Frontier?

By Mari Gallion

128 | Alaska 2013: Mining Review

By Curtis J. Freeman

146 | Alaska Business Monthlys 2013 Mining Directory

special section

Mining

148 | Construction Project Update

Busy season at urban and rural job sitesCompiled by Susan Harrington, Managing Editor

156 | Sitkas New Dock is Old Sitka Dock

Private infrastructure for public goodBy Will Swagel

special section

Resource Development78 | Resource Extraction Jobs and the Economy

Higher paying jobs have big impact By Rindi White

82 | The Rise of Sovereign Wealth Funds

By Greg Wolf

86 | A Womans Place is in the Drivers Seat

The resource development industry embraces positive change

By Mari Gallion

ARTICLES

TRANSPORTATION62 | From Frozen Ground to Far-Off Markets

How Alaskas natural resources are dug up, drilled, and shipped out

By Tasha Anderson

OIL & GAS70 | Sustainable Arctic Oil & Gas Exploration and Development

By Bradford G. Keithley

74 | GTL: The Other Alternative Fuel

Commercializing North Slope natural gas reserves

By Mike Bradner

A oat plane accesses Bokan Mountain, located adjacent to Kendrick Bay on southern Southeast Alaskas Prince of Wales Island, the site of a proposed rare earth elements mine by Ucore Rare Metals Inc.

Photo courtesy of Ucore Rare Metals Inc.

CrockettCrockett

122

CorrectionOn page 128 of the September issue, Doyon Limiteds 2012 Gross Revenue was incorrectly reported in the 2013 Alaska Native Regional Corporation Directory. In 2012, Doyon Limiteds gross revenue was $338,276,000. In the October issue, Doyon Limiteds 2012 Gross Revenue was incorrectly reported in the 2013 Top 49ers special section. The error was corrected af-ter the issue went to press. Top 49er gures and rankings were revised to re ect the correction prior to the awards ceremony held October 2 and in the online archives version of the October magazine.

Northern cirque of the Bristol Bay Native Corporations Kawisgag cop-per and gold prospect.

100Photo courtesy of Millrock Resources Inc.

www.akbizmag.com November 2013 | Alaska Business Monthly 7

Volume 29, Number 11Published by

Alaska Business Publishing Co.Anchorage, Alaska

Vern C. McCorkle, Publisher1991~2009

EDITORIAL STAFF Managing Editor Susan Harrington Associate Editor Mari Gallion Editorial Assistant Tasha Anderson Art Director David Geiger Art Production Linda Shogren Photo Consultant Chris Arend Photo Contributor Judy Patrick

BUSINESS STAFF President Jim Martin VP Sales & Mktg. Charles Bell Senior Account Mgr. Anne Campbell Account Mgr. Bill Morris Survey Administrator Tasha Anderson Accountant & Melinda Schwab Circulation

501 W. Northern Lights Boulevard, Suite 100Anchorage, Alaska 99503-2577

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Paci c Northwest Advertising Sales1-800-770-4373

ALASKA BUSINESS PUBLISHING CO., INC.ALASKA BUSINESS MONTHLY (ISSN 8756-4092) is published monthly by Alaska Business Publishing Co., Inc., 501 W. Northern Lights Boulevard, Suite 100, Anchorage, Alaska 99503-2577; Telephone: (907) 276-4373; Fax: (907) 279-2900, 2013, Alaska Business Publishing Co. All rights reserved. Subscription Rates: $39.95 a year. Single issues of the Power List are $15 each. Single issues of Alaska Business Monthly are $3.95 each; $4.95 for October, and back issues are $5 each. Send subscription orders and address changes to the Circulation Department, Alaska Business Monthly, PO Box 241288, Anchorage, AK 99524. Please supply both old and new addresses and allow six weeks for change, or update online at www.akbizmag.com. Manuscripts: Send query letter to the Editor. Alaska Business Monthly is not responsible for unsolicited materials. Photocopies: Where necessary, permission is granted by the copyright owner for libraries and others registered with Copyright Clearance Center to photocopy any article herein for $1.35 per copy. Send payments to CCC, 27 Congress Street, Salem, MA 01970. Copying done for other than personal or internal reference use without the expressed permission of Alaska Business Publishing Co., Inc. is prohibited. Address requests for specifi c permission to Managing Editor, Alaska Business Publishing. Online: Alaska Business Monthly is available at www.akbizmag.com/archives, www.thefreelibrary.com/Alaska+Business+Monthly-p2643 and from omson Gale. Microfi lm: Alaska Business Monthly is available on microfi lm from University Microfi lms International, 300 North Zeeb Rd., Ann Arbor, MI 48106.

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FROMTHEEDITOR

I am a coal miners daughter and I am a coal miners granddaughter. I still have that in my genetic code, though by the time I was born my grandfather had gotten out of the mines and into farming and my father had served in the US Navy, gone to college, and started working for the Federal Aviation Administra-tion. I believe my dads work in the mining industry is responsible for my sense of fearless adventurehis coal mining job involved dynamite and blasting caps.

Fast forward more than half a century and Im in Alaska, thousands of miles away from those Missouri coal elds near the Ozarks where I was born. Here and now, the mining industry is an important force in the states economy, pro-vides thousands of jobs, and is a focal point of this months issue of Alaska Busi-ness Monthly.

Alaska has resources the world wants, so much so that the State of Alaska Minerals Development Policies are available in Chinese on the Mining Resourc-es Section of the Department of Natural Resources website.

The Resource Development Council reminds us that Fairbanks, Juneau, and Nome were all founded on mining activity and that historically, mining has been a cornerstone of Alaskas economy. The Councils website has a great page with mining industry facts and gures Id like to share.

FactsandEconomicImpact In 2012, the cumulative production value of Alaskas mining industry was approximately

$3 billion, divided between exploration and development investments, and the gross value of the mineral products. Minerals produced included zinc, gold, silver, lead, copper, coal, rock, gravel, and sand.

The industry spent an estimated $275 million in Alaska mineral exploration in 2012, down from the previous year. Exploration spending in Alaska accounts for a large percent of the total exploration monies spent in the United States each year.

In 2011, there were 30 projects in Alaska that spent more than $1 million each on exploration. The industry spent $270 million on mine construction and development of existing mines. Minerals are the states second largest export commodity. Mineral exports accounted for

38 percent of the states export total and consist primarily of zinc and lead from the Red Dog Mine. Relatively strong prices for zinc have helped to sustain the high level of mineral export values over the past several years, as has the historically high prices received for lead.

Total direct and indirect jobs attributed to the mining industry in 2012 numbered 9,500 with a payroll of $650 million. The mining industry provides some of Alaskas highest pay-ing jobs with an average annual wage of $100,000, signi cantly higher than the state average for all sectors of the economy.

Mining industry payments to municipalities exceeded $21 million in 2012, and royalties and other fees paid to the State of Alaska were estimated at $137 million.

The industry paid $28 million to the state-owned Alaska Railroad Corporation for shipments of coal and gravel, and $25.5 million to the Alaska Industrial Development and Export Au-thority for use of state-owned facilities. The industry also paid $3.4 million to the Alaska Mental Health Trust for rents and royalty payments, and construction material sales in 2012.

In 2012, Alaskas mining industry provided $126 million in payments to Alaska Native Corporations, bene ting all Alaska Native Corporations.

Approximately 300 placer mines produced 85,000 ounces of gold, as well as platinum, in Alaska in 2012. In addition to Alaskas active precious-metals mining industry, there were more than 120 active rock quarries and sand and gravel operations throughout the state.

Weve expounded on many of those details and readers will enjoy excellent coverage of the mining industry and resource development this month. As min-ing goes, it stays in your blood. My dad, retired in Wyoming, has switched ores; he explores for gold on his claim near South Pass and Atlantic City. As for me, Ive still got my sense of fearless adventure.

The team at Alaska Business Monthly has done another ne job with the No-vember issue. Weve got a really great magazine this month, enjoy!

Susan Harrington, Managing Editor

Coal Miners DaughterCoal Miners DaughterCoal Miners Daughter

INSIDEALASKABUSINESS Compiled by Mari Gallion


Alaska CommunicationsAlaska businesses have a new option for reliable, fl exible data networks with new business ethernet services from Alaska Communications. Th e company introduced its new business ethernet services today to meet the growing demand Alaska businesses have to connect with people, places, and information twenty-four/ seven.Business ethernet off ers businesses a

data networking service with a choice of service level commitments that off er businesses the assurance of reliability. Businesses can prioritize service expe-rience and applications based on net-work and business needs. Alaska Communications business

ethernet is the only ethernet service in Alaska built and certifi ed to the inter-national standard of the Metro Ether-net Forum and supported by Carrier Ethernet certifi ed professionals.

General Communication, Inc.

General Communication, Inc. (GCI) launched two new networks on GCI TV: the much anticipated FOX Sports 1 and FOX Sports 2.FOX Sports 1 is the national sports

network that puts fans fi rst and will fea-ture live coverage of the most compel-ling sporting events in the world. It also off ers a unique ability to connect with fans through entertaining studio shows and an informative news operation. In most markets, FOX Sports 1 is available with GCI TV Preferred Service and can be found in standard defi nition on GCI

TV channel 41, as well as in high defi ni-tion on channel 661.FOX Sports 2 is an extension of FOX

Sports 1. It features live coverage of sport-ing events and connects with fans through entertaining studio shows and original programming. FOX Sports 2 is available in the GCI TV Digital Sports package and airs in standard defi nition on channel 307. GCI plans to off er FOX Sports 2 in high defi nition in the near future.GCI also announces plans for a new

3,500-square-foot retail store in South Anchorage. Th e GCI Store will open on the fi rst fl oor of the Dimond Cen-ter. Th e new location will be GCIs 12th retail store in Anchorage and 39th in Alaska, replacing two stores currently operating in the South Anchorage mall.

Ryder System, Inc.Ryder System, Inc., a leader in com-mercial transportation and sup-ply chain management solutions, an-nounced the grand opening of its new maintenance and rental facility in An-chorage, Ryders fi rst operating location in the area. Th e facility provides state of the art maintenance and rental services for commercial vehicle fl eets.Th e facility, located at 2345 E. Fourth

Avenue, features two and a half service bays and the capability to support EPA 2010 engines with maintenance and diesel exhaust fl uid.Ryder Full Service Lease is a cus-

tomized transportation solution that provides businesses with commercial vehicles supported with comprehensive maintenance and a variety of comple-mentary services, such as emergency roadside assistance, fueling, equipment

evaluations and specifi cation, fl eet management reporting tools, adminis-trative support, and driver safety pro-grams. Ryder Commercial Rental pro-vides customers with rental trucks on a short-term basis to meet their needs for supplemental capacity. Ryder Contract Maintenance provides maintenance for customers who wish to use Ryders ex-tensive network of facilities and techni-cians to maintain their truck fl eet.

ML&PMunicipal Light & Power (ML&P)

fi led for rate relief with the Regulatory Commission of Alaska in September. ML&P is seeking rate relief primarily to fund its investment in the Southcentral Power Project, which went into service on January 31.Th e utility proposes a phased ap-

proach in order to implement the in-crease over a two-year period. Th e in-crease to the average customers total monthly bill from Septembers rates will be about 17 percent when interim rates were expected to take eff ect in late October and another 5 percent in early 2016 when Phase 2 permanent rates are implemented.Interim rates will be granted on a

refundable basis while the Regulatory Commission of Alaska analyzes the fi l-ing, which can take up to fi ft een months.Fuel-cost reductions associated

with SPPs more e cient plant have already provided substantial savings for ML&P and its customers. ML&P estimates, at todays fuel prices, a $4.4 million annual fuel-cost savings with the new technology. Fuel prices are ex-pected to rise.

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CrowleyCrowleys Alaska fuel sales and dis-tribution company, CPD Alaska, LLC, has completed its acquisition of Juneau-based Taku Oil Sales, Inc. Taku, founded in 1953 by Clarence E. Jacob-sen, is a well known and respected local fuel company that has been serving the Southeastern Alaska community of Ju-neau for more than fi ft y years.Jeff Hansen, president of Taku, and

the Jacobsen family are leaving the oil business to pursue other interests. Th e company operates a 2.5-million-gallon bulk fuel storage terminal, a deep-water marine fuel dock, and two service sta-tions in the Juneau area.While the leadership at Taku will

change, the company will continue to provide great products and services un-der the Taku brand name. Th e companys thirteen employees have been welcomed as new members of the Crowley team.Crowley currently operates twenty-

two fuel terminals in western Alaska and the rail belt, with over 265 employ-ees. Th is is Crowleys second acquisi-tion of a southeast Alaska fuel distribu-tor. Th e company acquired Anderes Oil in Ketchikan on July 1.

Calista CorporationCalista Corporation has announced the acquisition of STG Incorpo-rated. In the last twenty years STG has earned a solid reputation while operating throughout Alaska, from hot and sunny summer days to frigid winter nights. STG has installed approximately 80

percent of the utility-scale wind projects currently in operation across the state, including crane support for the Fire Is-

land Wind project near Anchorage and in rural communities throughout Alas-ka. Th ey also completed the towers and control buildings on thirty-four sites for the massive DeltaNet Project for United Utilities, Inc. in Southwest Alaska. STG is also the premier pile foundations con-tractor for Western and Interior Alaska. Additionally, the team at STG provides deep experience with diesel power gen-eration projects, bulk fuel systems, and other renewable energy projects.Th e acquisition also includes Alaska

Crane, Ltd., Terra Foundations, Inc. and Gambell Properties, LLC. Alaska Crane provides crane equipment and opera-tors for nearly any sized project. Th eir equipment includes the largest crane in Alaska, currently working on the Blue Lake Hydroelectric project in Sitka.

TrailerCraft, Inc. / Freightliner of Alaska

TrailerCraft , Inc. /Freightliner of Alas-ka announces the opening of a new location in Fairbanks. Th e store is located at 2143 Van Horn Road and will be open Monday through Friday, 8 a.m. to 5 p.m.Th is location is a full service dealership

off ering sales, parts, and service for light and heavy duty trucks, Sprinter vans, RVs, travel trailers, and boat and utility trailers as well as snow plow needs. Were serious about supporting our customers and keeping their trucks and trailers on the road. Opening our Fairbanks location will allow us to continue to provide the superior customer service we are known for with the least amount of downtime for the customer, says Bob Spelta, Director of Operations for TrailerCraft , Inc.TrailerCraft , Inc./Freightliner of Alaska

is Alaskan owned and operated since 1969 and is Alaskas exclusive dealer for Freight-liner trucks, Sprinter vans, and Blue Bird buses; it is also a factory direct dealer for Western and Blizzard snow plows.

UIC Construction Services

UIC Construction Services, a wholly owned subsidiary of Ukpeavik Iupiat Corporation, has opened a con-struction subsidiary in Calgary, Alberta, Canada.UIC First Nations will provide a full

range of construction related services including preconstruction and pre-planning, design-build, construction management, general contracting, and long-term facilities management.In addition to construction servic-

es, UIC First Nations has developed a unique program to work with and inte-grate aboriginal entities on any reserve related project. Th e program includes labor pool training and development to improve the aboriginal labor opportu-nities not just for the short-term, but for the long-term servicing of the project aft er construction is complete.

Lynden Transport Lynden Transport once again was voted a top Less-than-Truckload carrier in the Western Region in Logis-tics Management magazines 30th an-nual Quest for Quality Awards. Lynden earned the No. 1 ranking for on-time performance and was ranked second overall among the top four competitors. Th e award asks shippers to evaluate providers on the following criteria: on-

620B East Whitney Road I Anchorage, AK 99501

Pacific Pile & Marine has a robust fleet of Pacific Pile & Marine has a robust fleet of marine equipment including our recentmarine equipment including our recent

addition of a 600-Ton 4600 Ringer.addition of a 600-Ton 4600 Ringer.

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of construction services.of construction services.

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time performance, equipment and op-erations, value, information technology and customer service. With this years award, Lynden Transport has received seventeen Quest for Quality Awards.For thirty years, Quest for Quality has

been the transportation industrys most important measure of customer satis-faction and performance excellence. Voting is by invitation only and the vot-er must have had experience with that particular provider at some point over the past year. Th is year, more than six thousand responses were logged over six months to produce the study results.

Construction Machinery Industrial, LLC

Construction Machinery Industrial, LLC, is proud to be part of the in-troduction of new SDLG North Amer-ica product off erings and will off er the LG938L and LG959 to customers via its headquarters in Anchorage, located at 5400 Homer Drive.SDLG North America introduces two

wheel loader models off ering simple operation, reliable performance, and easy maintenance for secondary and supporting construction and material handling applications.SDLG North America has introduced

the LG938L and LG959 wheel loaders, with 2.4 and 4.0 cubic yard (1.8 and 3.1 cubic meter) bucket capacity respec-tively, providing value and reliability for secondary and supporting applications. Th e LG938L and LG959 are the fi rst

models in the SDLG construction equip-ment product off ering to be made available in North America. Th e easy-to-operate wheel loaders are particularly well-suited

to material production facilities, site prep-aration, and maintenance yards demand-ing cost-eff ective, reliable performance from mid-sized wheel loaders in support of their primary operations.

First National Bank AlaskaFirst National Bank Alaska has fi nal-ized their purchase of the Bill Ray Center in downtown Juneau. Th e banks purchase of this Univer-

sity of Alaska property on F Street af-fords the bank options to expand their Channel Branch on 10th Street, near one of the busiest tra c intersections in Southeast Alaska.Th e twenty-two thousand-square-

foot, two-story o ce building, known as the Bill Ray Center, and two adjacent parking lots, are located on F Street near the intersection of Egan Drive and the Douglas Bridge. Th e building is cur-rently being used for classroom space.First National Bank does not have

plans to change the name of the build-ing, nor make any substantial changes to the property.

NMS SecurityAlaska Communications and NMS Security have partnered to intro-duce video surveillance monitoring to businesses throughout Alaska.Video surveillance monitoring is a

cloud-enabled video surveillance secu-rity system monitored around the clock in real-time, with immediate response for a fl at monthly fee.It uses the latest in surveillance technol-

ogy to deliver live video via a dedicated broadband data connection to a manned, in-state monitoring center, where security

agents view alerts in real time. Agents can then dispatch security or local law enforce-ment to investigate events as they happen, oft en from hundreds of miles away.Th e service allows businesses to moni-

tor multiple facilities at the same time, retain video data in a remote, secure environment, and customize surveil-lance solutions to meet their needs. It is the only video surveillance service in Alaska supported by secure, reliable data networks with carrier Ethernet 2.0 certi-fi cation from the Metro Ethernet Forum.

Alaska Brands Group, LLCAlaska Brands Group, LLC, producers of Alaskas premium natural glacial water brand, Clear Alaskan Glacial, has announced a marketing, territory, and sales partnership with one of Chinas premiere food-marketing enterprises, CHIC of Shanghai, China. Clear Alaskan Glacial recently ranked in the top three for exceptional taste at the 2013 World Water Expo in Shanghai, China.Noted for its exceptional purity, Clear

Alaskan Glacial is naturally alkaline, processed at the highest level of qual-ity, and noted for a light, sweet taste. Th e water is sourced from Eklutna Lake formed with the retreat of the glaciers more than ten thousand years ago.CHIC, located in Shanghai, China, is

recognized as one of the worlds leading from farm to table agriculture orga-nizations. Founded in 1997, CHIC today exceeds ten thousand employees glob-ally, providing a wide-range of research and development, growing, harvesting, processing, packaging, and logistics.Alaska Brands Group, LLC is a man-

ufacturer of water and beverage prod-ucts located in Anchorage.

620B East Whitney Road I Anchorage, AK 99501www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873www.pacificpile.com I (907) 276-3873Dutch Harbor - Unalaska, Alaska

General Contracting Marine Infrastructure Design Build

Delta Leasing LLCBusinessPROFILE

P A I D A D V E R T I S E M E N T

Photos by Kevin Smith Photography

At Delta Leasing LLC, custom-er service is everything. Its what differentiates the equip-ment leasing firm from its competi-tors, according to Vice President Sam Amato. Everybody has equipment to rent, but, here, providing excellent customer service is our top priority, Photos by Kevin Smith Photographycustomer service is our top priority, Photos by Kevin Smith Photographyand we are committed to putting our Photos by Kevin Smith Photographyand we are committed to putting our Photos by Kevin Smith Photographycustomers first, he says.

That means having the right prod-ucts at the right place and at the right time. It also involves trying to have a backup on hand whenever a piece of equipment breakswhich is in-evitable. We always have a Plan B, Amato says.

Planning for contingencies is especially important in one of the most remote and coldest places in the state: Prudhoe Bay. Thats where the Anchorage-based company does its core business, leasing crew-cab pickup trucks, SUVs, four-wheel drive passenger vans, shuttle buses, welding trucks, utility/work trucks, and flatbed expeditor trucks. It also leases a wide variety of other equip-ment to the oil and gas and construc-tion industries throughout Alaska, including box vans, mechanic trucks, loaders, loader-mounted snow plows, skid steers, heaters, light towers, stor-age containers, portable generators, and portable welders.

Listening and RespondingDelta Leasing is constantly listen-ing to clients and tailoring solutions to meet their project-related needs. Amato explains: Were pretty flex-ible. Whatever our customer is look-ible. Whatever our customer is look-ible. Whatever our customer is looking for, we will go out and get it if we dont already have it. We work in partnership with our customersfor the long term.

In addition to responding to clients needs, Delta Leasing focuses on pro-viding superior products. In fact, in-novation has been a major factor in the companys continued success over the years. The company is always striving to create a better leasing experience for customers.

A key element in accomplishing that goal is the team of professionals who comprise the company. Their ex-pertise, dedication, and client-oriented attitude are what define Delta Leasing, according to Amato. It comes down to a certain mentality. For example, Delta Leasing doesnt just hire mechanics; it employs mechanics with the right skills, a caring attitude, and other traits that have a positive impact on the company and its clients. Our em-ployees are everything, and they make us who we are, Amato says. We take good care of our employees and, in turn, they take care of our customers.

Expanding Its ReachWith 30 employees, Delta Leasing has steadily grown since its inception in 2002. The company is broadening its reach within Alaska and in the Lower 48. It also leases vehicles and equipment on the Kenai Peninsula,

as well as in Oregon, Florida, and Minnesota.

Additionally, Delta Leasing is en-hancing its product offerings to in-clude portable shops, which provide instant shelter for remote projects dur-ing the winter time. These temporary structures offer convenient, insulated shelter on the ice pad for valuable equipment and workers. They can be dropped on site and removed without a trace once the project is completed.

Delta Leasing provides vehicles, equipment, equipment logistics, and other services for a wide variety of onshore and offshore projects. Re-gardless of the industry, the company can structure solutions to help clients meet various timing and cash flow requirements. In addition, Delta Leas-ing is a GM authorized service/war-ranty center with a full maintenance facility and mobile mechanics.

Flexible leasing options for all Flexible leasing options for all Flexible leasing options for all Flexible leasing options for all Flexible leasing options for all Flexible leasing options for all your equipment needsyour equipment needsyour equipment needs

Delta Leasing LLC Sam Amato, Vice President 8101 Dimond Hook DriveAnchorage, Alaska 99507Phone: 907-771-1300 Fax: 907-771-1380deltaleasing.net

ViewfromtheTop Compiled by Mari Gallion

Robert Retherford, PresidentAlaska Earth Sciences

SCHOOL CAN BE COOL: I graduated from Anchorage (now West) High School in 1965. Aft er high school I attended Alaska Methodist University (now APU) then travelled to Honolulu with a friend to attend the University of Hawaii. Finally settling on geology as my major, I moved to the Uni-versity of Colorado, eventually fi nishing my MS degree thesis studying sea level shift s along the British Columbia [Canada] coast. During college, my summers were fi lled with remote fi eld programs, and I loved the life. I had opportunities to search for ore deposits, to map geology near hydroelectric sites, and to work on the Alaska Pipeline foundation studies.

LEARNINGWHATYOULOVE:Between 1972 and 1980 I worked primarily in minerals exploration. I began right out of college with Chuck Hawley (C.C. Hawley and Associates). I learned to fl y at this time, and we purchased an old Cessna that I could use to support our projects. I really enjoyed the challenge of fi nding minerals as well as the logistics of get-ting to the destination and collecting the samples and data.

NEWBEGINNING:In 1985, I and two other partners (Toni Hinderman and Bruce Hickok) founded AES. We worked out of my house and I handled most of the bookkeeping and pa-

perwork. We almost immediately became involved with an Alaska Native Regional Corporation, Calista. Our relation-ship with them grew and set a course for AES and how it would evolve in the coming years. Working for Calista was perfect for us. It required working

in remote areas on a shoestring budget. We fl ew ourselves and camped. We stayed off the grid and ate beans. We got to know the locals. We listened to those with local knowledge. When we needed extra workforce, we hired the locals. We were creative; where we could see a way to get a job

done with ATVs instead of a helicopter, we did it. Sometimes it was exhausting, but wed get the job done within budget.

WEKNOWIT:Our most important resource is our people: the people that work for us, and the people that we work forespecially those people within the various Native re-gions of the state. Our product is discovering resources, and our services are designed to make the process more eff ective and economic. We think that combination of skill sets makes us unique. We know where to begin looking, we know who we need to talk to in the process, we know how to access the lands e ciently with minimal impact, and we are networked with the right parties throughout the state.

The family of Robert Retherford moved from Lewiston, Idaho to Alaska pre-statehoodin 1950when his father, an electrical engineer, was offered a position as the rst engineer for Chugach Electric Association. While pulling a trailer up the Alaska Highway, truck and trailer combined suffered thirty at tires, one for every foot in trailer length, and six broken limbs. Rutherfords residency began in the Sand Lake area of Anchorage, where he learned to milk a cow, raise chickens, and care for horses. He also helped his father build the rst telephone network in Anchorage, stringing wire through the woods and linking up old hand cranks.

Retherford is now the president of Alaska Earth Sciences (AES), a full-service geologic consulting rm that meets the challenges of geologic engineering and supporting all aspects of mineral and energy exploration. With decades of experience, AES supports assessments of a wide range of commodities and geologic environments in Alaska and world-wide.

2013 Chris Arend


Insuring Alaskas Industry

Different by choice. Unique by tradition.

CommerCial insuranCe employee Benefits surety life & DisaBility insuranCe personal insuranCe

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3800 Centerpoint Drive, Suite 601 | Anchorage, AK 99503 | 907.562.2225 | 2233 112th Avenue NE | Bellevue, WA 98004 | 425.709.3600

Supporting Industry and Economic Development in Alaska with insurance, employee benefits, surety, and risk management consulting.

Celebrating 25 Years in Alaska


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Investment Services Help Alaskans Meet Financial Needs

Catering to the needs of large companies, small business owners, and individuals

By Tracy Barbour

Alaskas investment and brokerage fi rms off er a wide array of ser-vices to help businesses and busi-ness people meet their fi nancial goals.For instance, Wedbush Securities has

a myriad of product off erings to cater to the needs of large companies, small business owners, and individuals. Th e companys solutions emphasize prov-en investment concepts and smooth operation while avoiding a clutter of undiff erentiated products, according to Senior Vice President Investments and Anchorage Region Manager Nor-man Parrott. Wedbush, which touts a customer-

fi rst approach, off ers everything from municipal bonds, insurance, and an-nuities to mutual funds, retirement plans, and managed asset programs. Its clients can also take advantage of a number of services to enhance their investing experience, including online account access, a consolidated state-ment for multiple household accounts, interest on cash balances, competitive margin loans, and central cash man-agement for securities, checking, and Visa Gold Card transactions. What we do is we specialize in cus-

tom building tax-e cient, cost-eff ective portfolios for high net worth individu-als, retail investors, corporations, insti-tutional investors, nonprofi ts, and in-vestors of all kinds, Parrott says. We also give our clients our best price fi rst. Wedbush is one of the largest secu-

rities fi rms and investment banks in the nation, with almost one thousand employees in more than ninety o ces. Th e privately-held company, founded in Los Angeles in 1955, has operated an o ce in Anchorage since 1971. It is the

largest subsidiary of holding company Wedbush, Inc., which also includes af-fi liated fi rms Wedbush Bank, Wedbush Capital Partners, Wedbush Opportu-nity Partners, Wedbush Asset Manage-ment, and Lime Brokerage LLC. All of our advisors have the strength and resources of our a liate companies, Parrott says. Alaska investors can also capitalize

on the extensive resources of Wells Far-go Private Bank, which provides prod-ucts and services through Wells Fargo Bank, NA and its various a liates and subsidiaries. Wells Fargo Wealth, Bro-kerage, and Retirement (WBR) is one of the largest wealth managers in the United States. WBR includes Wells Far-go Advisors, the third-largest invest-ment brokerage in the country; Wells Fargo Private Bank, serving high-net-worth individuals and families; Abbot Downing, serving ultra-high-net-worth families; and Wells Fargo Retirement, which manages $279 billion in institu-tional retirement plan and pension as-sets for 3.7 million Americans.Wells Fargos wealth management so-

lutions cover the full gamut, from 529 education plans to retirement plans to es-tate planning. Th ere just isnt anything we dont have, says TerriLee Bartlett, a

wealth advisor with Wells Fargo Private Banks Anchorage o ce. If our clients have a wealth or retirement planning need, we can fi nd a solution.St. Louis-based Edward Jones is an-

other major source of investment and retirement services for Alaska busi-nesses. Th e company is a full-service brokerage fi rm and private partnership with more than twelve thousand fi nan-cial advisors in the United States and Canada. Edward Jones currently serves nearly 7 million clients and is the coun-trys sixth-largest fi nancial services fi rm. Th e companys advisors assist cli-ents with stocks, mutual funds, annui-ties, and fi xed-income investments, as

Your financial advisor, working with plan design professionals and your tax advisor, can help you

analyze the options and choose the plan that fits with your combined personal and business goals.

Justine WhitmanAccredited Asset Management Specialist

There just isnt anything

we dont have. If our clients

have a wealth or retirement

planning need, we can find a solution.

TerriLee BartlettWealth Advisor, Wells Fargo Private Bank


well as estate and trust issues. Edward Jones also off ers a full assortment of re-tirement plans to help business owners provide for the future for themselves, their families, and their employees. When selecting a retirement plan,

businesses need to consider several fac-tors, including the size of their opera-tion and total number of employees, says Anchorage-based fi nancial advisor Jus-tine Whitman, who holds the Accred-ited Asset Management Specialist des-ignation. For example, if a business has no full-time employees, other than the owner and the owners spouse, it might consider a Simplifi ed Employee Pen-sion (SEP) plan or an owner-only 401(k), sometimes known as an individual or solo 401(k). Or, if the goal is to contribute as much as possible, consider an owner-only defi ned benefi t plan. If the business has employees, it might want to inves-tigate a SIMPLE IRA or even a 401(k) plan. Your fi nancial advisor, working with plan design professionals and your tax advisor, can help you analyze the op-tions and choose the plan that fi ts with your combined personal and business goals, Whitman says.

NonprofitOrganizationsNonprofi t entities can establish the same types of plans as a for-profi t busi-ness would, such as a 401(k). In addi-tion, they have access to plans that only a nonprofi t organization can off er, such as a 403(b) designed. A 403(b) plan is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers. Your organization can con-tribute to these retirement plans based on your objectives, Whitman says. When you off er the appropriate retire-ment plan, you can help your employ-ees work toward their retirement goals and help the organization attract and retain high quality employees. Denali Capital Management of Fair-

banks applies a raw approach to pro-viding investment services for corpo-rations, nonprofi ts and high net worth individuals. Owner Scott Husband says when it comes to investments, every-thing boils down to a few basic groups: the bond market and equity market and insurance. Denali Capital Management doesnt

handle insurance, private limited part-

nership units, tax shelters, or esoteric investments. Instead, the investment advisory fi rm prefers to focus on stocks and bonds. Husband says: We like the raw assets. We dont deal in the deriva-tives or things off to the side. We like the clean assets because you know what they are. Th ats especially important if some-

thing goes wrong. Th e bottom line is that one doesnt have to get terribly fan-cy when investing, Husband says. Th ats the approach many nonprofi t

organizations in Alaska take, according

We like the raw assets. We

dont deal in the derivatives or

things off to the side. We like the clean assets be-

cause you know what they are.Scott Husband

Owner, Denali Capital Management


to Husband. Th ey want some particular benchmark thats traded. Th ey are typi-cally looking for a yard stick that is a blend of a certain percentage in stocks and bonds. Th ey like that because theyre held accountable and enjoy the predict-ability of relative performance, he says.

InterestsandHabitsIn terms of interest, Parrott says, Alas-ka businesses have two key areas: Th ey want to segregate their short-term op-erating capital and longer-term invest-ment capital.For short-term operating capital (any-

thing less than a year), the most impor-tant thing is to protect the integrity of the investmentwhich equates to zero to limited risk. An example is high-grade money market funds, including insti-tutional money markets, certifi cates of deposit, and any short-term cash instru-ment where principle fl uctuation is limit-ed. Th ats money they will need to use to run the business, and they cannot aff ord to take any market risk, Parrott says. It really limits your investment choices. For longer-term investment capital

(ten-plus years), there are numerous ve-hicles available to meet a clients invest-ment objectives. Th ese options could include short-term, tax-free municipal securities in the form of individual bonds and/or closed-end funds or open-end mutual funds. Th e most appropri-ate investment vehicle depends on when the funds will be used and the level or risk the client is willing to assume. Over the years, Parrott has noticed sev-

eral interesting trends taking place among Alaskas investors. He explains: Aft er the 2009 fi nancial debacle, I think a lot of the maturing boomer generation has recog-nized that the stock market is great when its going up and really bad when its going down. Essentially, its forced people to re-ally assess what theyre doing with their investments for retirement.Parrott is seeing a signifi cant amount

of money sitting on the sidelines while investors wait for an opportunity to en-ter the market. Also, many investors are dollar cost averaging into the market to minimize their risk. Th e idea is that you may hit some highs and lows, but over time it may average out, he says.Th e reservations some Alaska inves-

tors have over the market are consistent with what people are feeling nationally,

based on a recent Wells Fargo/Gallup In-vestor and Retirement Optimism Index. Th e August telephone surveyconduct-ed among a sampling of 1,018 investors across the nationindicates a loss in optimism due to stock market concerns. It shows that four in ten pre-retired in-vestors fear a repeat of the 2008-2009 fi -nancial crisis and 73 percent believe the country is headed for a retirement crisis in the next twenty to thirty years. However, Alaska hasnt experienced

the huge dips in its economy the way other places in the Lower 48 have, Bartlett says, and this presents a good opportunity for Alaskans to start a business or reinvest in an existing one.

Interestingly, Alaska businesses tend to be focused in one particular area, accord-ing to JoEllen Weatherholt, an Anchorage-based senior investment strategist with Wells Fargo Private Bank. However, she counsels business owners to consider go-ing outside their comfort zone when it comes to investing. We try and work with our business owners to diversify so they are not so concentrated in [and dependent on] their business and so they have assets that will grow for them, Weatherholt says.

CopingwiththeCurrentMarket

As the maturing generation of baby boomers moves through retirement, many of them are wondering how to protect the integrity of their invest-ments in the current volatile market. To-day, its very important to invest within and across the asset classesincluding international, Parrott says, and to par-ticipate in what is considered to be alter-native investments. Th ese include MLPs (master limited partnerships), REITs (real estate investment trusts), curren-cies, and commodities. Th e premise behind that is essentially youre not put-ting all of your eggs in one basket, and

you are not speculating on which asset class will perform, he says. Whitman encourages investors to

keep their emotions in check in the face of todays market conditions. She says market declines can be an opportunity to invest at more attractive prices. In fact, market declines themselves usually dont keep people from achieving their goals; their emotional reactions do. If you fall into the emotional investing trap of buying when you feel good and selling when you feel bad, youre likely buying high and selling low, she says. Th is is not a good strategy to reach your goals and can leave you with one lasting emotion: disappointment.

It goes back to the issue of risk. By understanding your level of comfort with risk, you can better control your emotions and stick to your long-term strategy during the inevitable bumps along the way, Whitman says. Weatherholt has similar views. Th ere

are always many reasons to be concerned about the market, she says, so you have to build a portfolio and investment plan that minimizes your risk and maximiz-es your return. Jumping in and out of the market is never a good solution, she says. Take the emotions out of it. Work with a fi nancial professional. Husband also recommends exercising

caution in the current market, where bond rates have reached their lowest point in history. When rates are high, you want to capture that interest rate for a longer period of time, he says. But with the lower rates, investors should opt for shorter maturities, such as a year and a half to two years. I would much rather protect the principle and not make as much money on the income side, Hus-band says. But it depends on the (cli-ents) tolerance to volatility.On the bond side, investors can be

defensive because rates are inclined to

We try and work with our business owners to diversify so they are not so concentrated in [and

dependent on] their business and so they have assets that will grow for them.

JoEllen WeatherholtSenior Investment Strategist, Wells Fargo Private Bank


rise. But on the equity side, its an ex-pensive market. It really hasnt gone anywhere in thirteen years, and thats a good thing, Husband says. You cant do all or none. When youre very young, you can handle more volatility. But when you get older, certainty of value gains importance. So what constitutes older and young-

er? According to Husband, it equates to how long before the money from an investment is required or when it needs to be spent. If youre forty-seven, you could buy

the equity market, and if it gets ham-mered, it wouldnt change your life be-cause you have more years to get it right again, he explains. If youre sixty, its a different story. You probably need the money much sooner, and you dont have time to recover from mistakes.

WorkingwithanAdvisorFinancial advisors can help clients un-derstand the associated risks, so they can make informed decisions. Wealth management is much more than buying a stock or bond, Parrott says. Consequent-ly, Wedbush takes a holistic stance when

it comes to working with clients. Parrott explains: Initially, we sit down with cli-ents and listen to what their needs are. We try to figure out what theyre hoping to accomplish, and ultimately we take care of the investment side. If they need addi-tional help from a CPA and a commercial banker, we try to surround our client with the best team of experts possible in an ef-fort to deliver them results that will meet or exceed their expectations.When assisting clients, Parrott starts

with the end goal. Then he backs into it to help clients achieve their desired results. All investors have the same re-tirement goalto be able to retire with dignity and without compromise of lifestylebut there are different routes for getting there, according to Parrott. Each clients situation will influence

which investments would be the most suitable. For example, a business suf-fering from high turnover might offer a 401(k) or profit sharing as a way to retain employees. A company with idle cash sit-ting in an account could explore options to maximize a return on investment.Wells Fargo Wealth Management, like

Wedbush, also employs a team-based

concept that extends beyond clients in-vestment solutions. For example, a busi-ness owner might meet with one of the companys business specialists to discuss a potential merger or acquisition. Like-wise, clients are connected to experts who can assist with insurance, banking, and other needs. We have a specialist for every arena in their life, Bartlett says. Denali Capital Management also likes

to meet face-to-face with clients to dis-cuss their goals and help them figure out what they would like to have happen. Husband creates a portfolio designed to accomplish what the client wishes, and a more detailed discussion takes place. This forces them to place in concrete what their goals are, he says. Clients typically meet with Husband

quarterly to discuss their investment portfolio. Longer-term clientssome of which he has worked with for thirty yearscome in much less frequently. An initial client meeting is also part

of the advisory process at Edward Jones. Because everyones situation is unique, theres no one perfect plan for everybody. Whitman addresses clients unique financial situation by helping

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them select a customized investment portfolio. Th e portfolio objective will help us determine the most appropriate asset allocation, she says.Th e process begins with clients vision

of retirement. Whitman focuses on where they are todaytheir income, expenses, assets, and debtand where they want to be. Th en she develops a strategy that is designed to help them achieve their goals.Preparing for retirement, Whitman

says, is like a cross-country journey. While it may seem like a long distance to cover, every journey starts the same waywith the fi rst step, she says. Importantly, the earlier you start, the smaller these steps need to be to reach your destination.However, there is no one-size-fi ts-all

plan for businesses, Whitman adds. Its important they work with a fi nancial advisor, CPA, and plan design profes-sional to help determine which plan will help them meet their goals, she says.

DevelopingaPlanPlanning is, undeniably, one of the most important aspects of investing. And it becomes more critical the closer business owners get to retirement, Par-rott says. Th ey need a plan for what they intend to do with their company aft er retirement. Once they determine how theyre going to retire, they have to look at their entire liquid- and hard-asset portfolio. Th en they have to devise a plan to transition from being growth-based to preserving the integrity of the capital they have earned over the years. In other words, they need to focus on

growing what they have and not invest money that they cant aff ord to risk los-ing. Its very important to understand the associated risks when you invest be-cause its very di cult to make a come-back, Parrott says. People must consider their risk toler-

ance, he adds. Conservatives might want to preserve the initial principle with minimal risk. Th ose more moderate are willing to accept some risk and tolerate some volatility to seek higher returns. Th e aggressive might be willing to take maximum risk to seek maximum return. Parrott compares investing to an air-

plane ride, saying: It comes back to mak-ing an informed investment decision, so you understand the associated risk before you board the airplane. Its really impor-

tant to fi le a fl ight plan, as it relates to your investment and retirement planning. Whitman also deems risk to be a crit-

ical facet of investment planning. One of the most important steps in helping work toward long-term fi nancial goals, she says, is determining the right level of risk. Th e process of determining what level of risk is comfortable covers three main areas: risk tolerance, the willing-ness or comfort level with taking risk; risk capacity, the ability to handle risk; and required risk, the level of risk that is necessary to achieve fi nancial goals.While investors dont control invest-

ment return, they do control return potential. Generally, the greater the percentage of stocks you own, the more potential increasesbut so does the risk, Whitman says. Financial advisors factor a diversity

of elements into portfolio planning. Here are some chief considerations, ac-cording to Parrott:

Investment pro le: These include annual income, liquid net worth, total net worth, and tax bracket.

Investment objectives: This encompasses income, growth, trading, speculation, or conservation of capital.

Investment experience: Is it none, less than ve years, or longer?

Source of the funds: Do the investment funds come from the sale of a business or property, an insurance payout, a gift, or an inheritance?

Investment allocation: Is it one third of your nancial portfolio?

Investment knowledge: Is it limited, moderate, or extensive?

Investment time horizon: Is it zero to ve years, ve to ten years, or more than ten years. This is essentially how long investors intend to keep the money invested before needing to start taking withdrawals.

Liquidity needs: Are there liquidity needs now, in ve years, or ten years?

GeneralGuidanceAs a general piece of advice, Husband encourages investors to fi rst defi ne

their goal. People typically say their goal is to make as much money as they can without losing any. But, he says, they need to consider whether they will need the money in the near future, what theyre going to use the money for, and if theyre going to need money for retirement. Parrott agrees. Generically speak-

ing, you have to make a well-informed decision about how, when, and where to allocate your assets based upon what your needs are, he says. Parrott views money as a state of

minda process. He suggests that busi-ness owners accumulate wealth during their career and consider that the sale of the business will be additional funds that theyre not counting on for retire-ment. He reminds investors that theres always a bull market, and they just have to know where to fi nd it. He explains, Im not suggesting timing the market, but time in the market. Whitman recommends focusing

on what investors can controltheir money, time, and asset allocation. Th ere are three key variables that will directly infl uence an investors ability to achieve their goals: time (how long they save), money (how much they save) and return (how much their investments earn). Even small changes in these variables, such as saving a bit more, can be benefi -cial over the long term, she says.Be aggressive with saving, not invest-

ing, Whitman adds. People oft en want to invest aggressively to make up for lost time, but this could actually in-crease the risk that they wont achieve thier goals.Weatherholt urges investors to think

beyond traditional bonds, fi xed instru-ments, and savings as generators of re-tirement income. Th ey should consider a swath of securities, including stocks, REITs, and MLPs. Its a matter of diver-sifying your income stream, she says. Finally, Bartlett reminds business

owners not to overlook their personal lives. Th ey should hire a full-time pro-fessional to handle their banking, es-tate planning, and retirement and other needs, she says. Th at will contribute to their success, as well.

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ICONIC ALASKANS

Margy JohnsonMargy JohnsonMargy JohnsonMargy JohnsonMargy JohnsonMargy Johnson

2013 Chris Arend Photography


Her father sailed on a leaky liber-ty ship to Alaska during World War II. He went to Shemya to help build runways to beat back the Japanese invasion. At eighteen, Margy Johnson took a diff erent route than her father. She graduated from high school in 1966, got married, and headed up the Alaska Highway for Alaska with her Air Force husband. But unlike her father, Johnson never left and became a driving force in Alaskas growth and success. Johnson has achieved a lot since com-

ing to Alaska: Th e fi rst woman mayor of Cordova, elected to three terms; the fi rst woman president of the Cordova Cham-ber of Commerce; served on the Prince William Sound Regional Citizens Advi-sory Council; and director of the Inter-national Offi ce of Trade during Governor Frank Murkowskis administration. Now retired, she still keeps busy. She

is on the community advisory boards for BP Exploration (Alaska) Inc. and Alyeska Pipeline Service Co. and is a director for First National Bank Alaska, a position she has held since 1993. In 1966, North Slope oil lay untapped

in the ground, Alaska salmon came in tin cans, and Alaska Natives faced dis-dain. But changes soon started. Passage of the Alaska Native Claims Settlement Act in 1971 empowered Alaska Natives, oil began to fl ow with the completion of the Trans-Alaska Pipeline System in 1977, and, later, fresh Alaska salmon gained fame as a gourmet food, sought by chefs everywhere.

GrowingUpSt. Mary, Montana, Johnsons home-town on the western border of the Blackfeet Indian Reservation, is idyllic, but her life was not. She grew up with hard-working parents in a loving fam-ily that operated Johnsons of St. Mary, a restaurant now run by her sister Kristin. During childhood, Johnson loved listen-

ing to her dads stories of Alaska and hear-ing her mother read his letters from She-

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mya. Mother kept all the letters from Dad in a little bundle carefully wrapped with a satin ribbon. The letters carried a sense of mystery and they had little parts cut out by military censors. Listening to them I knew I would someday go to Alaska. Coming to Alaska was like coming

home, and the state gave her opportu-nities she wouldnt have had anywhere else, Johnson says. Its a great big, grand, beautiful place, Alaska, and I love being part of it. People either live where they are born, or choose where to live, but in my case Alaska chose me. It embraced me when I came here as a young woman, and it still embraces me.For the first few years she worked

an office job at an engineering firm. In 1972 she gave birth to a son and got di-vorced later that year. As a single mom I did whatever was necessary to pay the rent and feed my son. I worked at a dress shop downtown and sold ivory trinkets on Fourth Avenue. When construction started on the oil

pipeline in 1974, Johnson got a job at the Alaska Federation of Natives (AFN) to monitor union recruitment and dis-patching of Alaska Natives to construc-tion jobs on the pipeline. While at AFN, Johnson established close relationships with elders and leaders. Gail Schubert, president and CEO, Ber-

ing Straits Native Corporation, remem-bers that Johnson got to know Alaskas Native people and their strengths and concerns at a critical junctureright af-ter the Alaska Native Claims Settlement Act passed. Margy also developed a true respect and appreciation of our cultures. She has been a strong supporter of Alaska Native artists, and her collection of art is a testament to that, Schubert says. Her knowledge and fondness for Alas-

ka Native arts and crafts led to a contract with the Smithsonian Institution to ac-company a group of Alaska Native artists and dancers to the 1976 Festival of Amer-ican Folklife in Washington, DC.

TransformingtheMarketIn 1978, Johnson and her second hus-band, Dick Borer, moved to Cordova, where they ran the Reluctant Fisher-man Inn. After all those years of grow-ing up in one, there I was in Cordova running another restaurant. In Cordova life revolves around salmon

fishing, and Johnson soon fell in love with

the fresh Copper River salmon and noted that the fish did not get the attention they deserved. For so many years we had stuck that magnificent fish into a can or shipped it frozen to Japan. Once we got it out of the can we realized how good it was. While serving as president of the

Cordova Chamber of Commerce, John-son began working with Alaska Air-lines, various fishing groups, and Tri-dent Seafoods to promote fresh salmon. Margy would place a box of fish under her arm and go up and down the West Coast, trying to convince high-end res-taurants and retailers of the fine taste of fresh salmon, says John Garner, a vice president at Trident Seafoods in Seattle. Two companies were crucial for those

promotions. Trident provided fish and Alaska Airlines flew me to any place I wanted to go, Johnson says. We held many salmon and wine pairings in Lower 48 restaurants. Sometime it was just me and a fish, and I often slept in airports.The hard work paid off. It increased

the cachet of Copper River sockeye salmon, elevating it to elite status in restaurants across the nation. Not only did Johnson promote the fish, she also helped arrange the logistics of moving the fish from a remote community, Cor-dova, by seeking help from Alaska Air-lines as well as Lynden Transport and Alaska Marine Lines, Garner says.Garner credits Johnson for trans-

forming the market for Copper River fish by helping create domestic demand. Before Margy came along, we froze our Copper River salmon for export to Japan. Today 100 percent of our king salmon and 90 percent of the sockeye are sold fresh in the domestic market. The promotions of Copper River fish

also helped increase domestic sales of other Alaska salmon, Garner says. Later, as the director of the Office of International Trade, Johnson travelled to foreign capitals, such as Tokyo and Seoul, working to expand foreign sales.Alaska Airlines flies a lot of salmon

out of the state, including the first catch of Copper River salmon. In 2005, it paid homage to Alaskas salmon by painting one on a 737-400 airplane and named it Salmon-30-Salmon. That great fish on the plane was just a dream in my heart. I presented the idea to John Kelly, who was Alaska Airlines chairman at the time, Johnson says.

FiguringOuttheTruthHer love of fish and the fishing indus-trys importance to Alaska notwith-standing, Johnson is also aware that the oil industry is vital to the state. We are essentially a resource state. But I like reasonably paced development. Gov-ernment should be the gentle breeze on the back of the business and not a stiff wind of opposition. The state and our industriesoil, or timber, mining, or fishneed to be partners.She likened the roles of industry and

government to her role as a Cordova innkeeper. An innkeepers responsi-bility is to provide guests with clean accommodations at a reasonable price and the guests responsibility is to pay the bill and not trash the inn, Johnson says. Similarly, Alaskans and their governments job is to provide industry with reasonable expectations and regu-lations and the industrys job to pay the bill and not trash the environment.Then the Exxon Valdez oil spill hap-

pened in 1989. Johnsons beloved Prince William Sound, through which salmon swam, was despoiled. Within hours, Johnson boarded a friends airplane and flew to the spill site. Oil was seeping out, but with enough boom, it could have been contained, she says. I thought the industry would take care of it.She also expressed her sadness and

put up a sign at the Reluctant Fisher-man: Flags are at half-mast due to the death of our environment.She watched with dismay how Exxon

and the state and federal governments kept bumbling the cleanup. And she saw that the spill was tearing apart her town. The environmental community had anger in its heart and said the Sound was dead, and the oil industry said the oil was organic and would go away. I re-alized it was up to us as citizens to figure out the truth, Johnson says.That search for truth led Johnson,

by then a member of the Prince Wil-liam Sound Regional Citizens Advi-sory Council (formed after the spill), to Sullom Voe in the Shetland Islands to look at the North Sea oil facilities. They had oil production there but also a safe environment for many years and we wanted to see what safeguards they had that we lacked.Bill Walker, a former mayor of Valdez,

also went to Sullom Voe. During our


discussions Margy made sure the discus-sion stayed focused and everyone had a chance to voice their opinion, he recalls.Information gathered from the Shet-

lands and other places helped bring many changes in the oil industrys operations in Prince William Sound. Today we have escort vessels, double-hulled tankers, and depots of equip-ment around the Sound to dispatch if it occurs again. You simply cannot beat citizen involvement, Johnson says. Phil Cochrane, BPs vice president for

external aff airs, sees Johnson at meet-ings of BPs advisory board and lauds her honesty. Even aft er the oil spill she is still an unabashed champion of our business, but she also lets us know if we are not doing something we should be doing, or could do better. Others, including D.H. Cuddy, chair-

man of First National, also noticed those qualities. Margy is one of the smartest people I know. She uses those smarts to help our state become a bet-ter place for all Alaskans. Ive learned to value her opinion, which shes not afraid to share, and trust her judgment. More oft en than not, she hits the nail right on the head.But the spill changed her town. Our

town expanded to meet the demands of the disaster but it was taking a long time to get back together. Johnson wanted Cordova to become a community again and get back to mundane things such as concern for streets, water, sewer, and schools. So she ran for mayor in 1990.It was a hard-won contest and I won

by one vote. When my opponent de-manded a recount I picked up another vote. So I won by two votes. Johnson went on to win the next election, and then another aft er a three-year hiatus.

JohnsonsFamousHatsNo story about Johnson is complete with-out mentioning her famous hats. Th e hats came nine years ago, when she had cancer. She buys hats in vintage shops, and friends bring them for her from their travels. Her hats number more than twenty, but less than one hundred.Aft er she was cured she began work-

ing with cancer patients. She oft en in-vites them to the Enchanted Mermaid, her house, and gives them the choice to wear one of her hats as they sip high tea and talk about options.

Johnson i

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