1995 new 49ers: new directions.

• Position: 49 largest Alaskan-owned, Alaska-based companies - 1995 New 49ers

A wise man once said that you can never step into the same river twice: The river flows and is always changing. The 1995 New 49ers ranking - the 11th time we've done this compilation resembles trying to step into that same river again.

Looking back at our first New 49ers in 1985, a lot of names appear that are still with us, going strong: Veco, Arctic Slope Regional Corp., National Bank of Alaska, Sealaska, First National Bank. But for 1995, we have a new No. 1 company - Arctic Slope Regional Corp. This year is something of a milestone, marking the first time a Native corporation has topped the list. Our congratulations to the folks from Barrow.

In addition, the New 49ers has 10 new laureates this year. They represent such diverse industries as: insurance (Brady & Co., Alaska Timber Insurance Exchange); construction, both residential and commercial (Spinell Homes Inc, Ken Brady Construction Co., New Horizons Telecom); finance (Northrim Bank); building supplies and support (Alaska Steel and Superior Plumbing & Heating) and Native corporations (Chugach Alaska Corp., Aleut Corp.).

This year was another good one for the New 49ers, with 34 of the firms posting revenue gains. In 1994, Alaska's home-grown business leaders earned over $3.25 billion in revenues while employing 17,507 Alaskans. These figures - generated by companies doing business here on the Last Frontier - illustrate the spirit of enterprise and adventure in Alaska.

To qualify as a New 49er, a business must be operated for profit, headquartered in Alaska and owned - at least 51 percent - by Alaska residents. Although most companies listed are privately held, publicly traded firms are eligible; state-owned businesses and cooperatives are not. The 1995 New 49ers figures are based on gross revenues for...