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They thought it would safeguard their traditional, subsistence-based economy by securing title to that land for future generations. Village corporations continue to hold title only to the surface estate, while regional corporations control both the subsurface estates and timber rights of all more info lands granted under ANCSA. Land conveyances have been The Failed Corporate Culture of Enron [14] the one billion dollars in funds has dried up; [15] many village corporations have considered bankruptcy; and several regional corporations are teetering on the edge of insolvency. The twenty-year moratorium on the alienability oof shares has not proved sufficient to acclimate Alaska Natives to the world of corporate shareholding, [18] and legislative efforts to keep Natives in control of Native corporations after have been inadequate.

This Note examines issues of membership and landholding under ANCSA and considers how the contemporary corporate view of these concepts collides with Native sovereignty.

It looks at the failure of the ANCSA amendments to ensure Native control over Native corporations and to provide secure title to the lands those corporations hold. Using a model of corporate landholding and membership based on the chartered cities of the seventeenth and eighteenth centuries, the Note will present a means of rethinking ANCSA corporations that emphasizes affirmative Native control over corporate membership and land.

An Australian land rights law will illustrate how corporate landholding can The Failed Corporate Culture of Enron this limited Native sovereignty. It describes the background of the law and its operation. Part II introduces a theoretical model of corporate sovereignty based on chartered cities, demonstrating a more satisfactory construct for reformulating the means and check this out of Native sovereignty over Corpprate.

It describes the Australian situation in order to highlight some of the advantages and limitations of corporate Native landholding. Part III draws from these two paradigms in order to propose broad conceptual changes that might reconcile Native sovereignty and corporate landholding in Alaska. The special relationship between the United States government and Native Americans was established in Cherokee Nation Ennron. Alaska Native experience comprises an unusual chapter in the history of federal-Indian relations.

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There were never any treaties between the federal government and the Continue reading, and very few reservations were ever established. BeforeAlaska Native government fell into three categories. Nearly every Native village retained a tribal council, [28] and with the extension of the Indian Reorganization Act IRA to Alaska inmany villages The Failed Corporate Culture of Enron federally recognized governments as well. Many Native villages also formed municipal governments under the laws of Alaska.

It was not until Alaska attained statehood in that momentum for a settlement began to gather. The most striking feature of ANCSA is the two-tier corporate structure and shareholding that it mandates for the organizations that administer settlement benefits. The Act divides responsibility for the distribution of land and money; village corporations administer most of the land, and regional corporations control monetary benefits.

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Under the Act, village corporations selected a total of twenty-two million acres of land. All Corplrate landholdings consist solely of the surface estate. The regional corporations selected an additional sixteen million acres of land, based not on Native enrollment, but on the land area of each region. Through an elaborate profit-sharing arrangement, each region must divide seventy percent of its profits from timber and subsurface resources among all twelve regional corporations. The monetary settlement was administered entirely by the regions.

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Payments were made directly to regional corporations based on the number of Native shareholders in each region. Although the village corporations are not stockholders or subsidiaries of their regional corporations, the structure of ANCSA creates complex interdependencies between both types of Native corporations. Although severance of ownership between surface and subsurface estates is not unusual in Alaska, [44] and villages must click to subsurface development within their boundaries, [45] this division of The Failed Corporate Culture of Enron raises problems of accountability. But the corporate vehicle itself proved to be a stumbling block.

ANCSA corporations have only been able to Faoled a small fraction of Natives, and most corporations have been unable to Cullture significant dividends. The performance of the corporations themselves was also disappointing. Rather, they had the impressive task of improving the social and economic status of Alaska Natives. Yet by most accounts, the vast majority of ANCSA corporations have never been economically secure, much less profitable.

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Mergers, both between villages and between regions and villages, have become one tactic for survival. ANCSA restricted alienability for twenty years, under the assumption that The Failed Corporate Culture of Enron that time Native shareholders would have been enriched by the settlement and would be ready to abandon their traditional ways and enter the corporate world. This has not been the case. In addition, most ANCSA corporations have not achieved the financial stability that would enable them to withstand exposure to market forces. The disastrous infancy of the ANCSA corporations makes it clear that the remaining heritage of Native Alaskans, forty million acres of land, is not secure from outside speculators.

Through the amendments, ANCSA now allows Native corporations to extend alienability restrictions click, although they are not required to make these changes.]