The Aleut Corp.: capitalizes on diversified business model.

• Author: Campbell, Blythe
• Position: NATIVE BUSINESS

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The Aleut Corp. has a simple mission--to maximize dividends and choices for its shareholders. As one of the 13 regional Native corporations established in 1972 under the terms of the Alaska Native Claims Settlement Act (ANCSA), The Aleut Corp. received a settlement of $19.5 million, 66,000 acres of surface lands, and 1.572 million acres of subsurface estate.

Today, The Aleut Corp. employs 850 people in diverse business lines including government operations and maintenance contracting, fuel delivery, sales and storage, commercial and residential real estate properties and gravel operations. The corporation recently acquired an oil-well testing company in Bakersfield, Calif., and Alaska Instrument Co. LLC, a manufacturers' representative of instrumentation and control products in Anchorage.

Diversification plays a key role in The Aleut Corp.'s success. The corporation's diversified business interests produced gross revenues of $146 million and net income of $43.5 million in FY 2009. Net income increased by 19 percent over 2008's record performance of $36.6 million. The corporation's assets are now at $187 million, a 40 percent gain over 2008.

ALEUT LEADER

"Our strategy is focused on creating a structure that provides gains in shareholder value, even when economic conditions are not optimum, and ensures our success is sustainable," said Thomas Mack, Aleut's president and interim CEO.

Mack was raised in King Cove, which is located on the tip of the Alaska Peninsula. He is one of the youngest of the original 3,249 shareholders of The Aleut Corp. After graduating high school, Mack attended the University of Nevada-Las Vegas and the University of Alaska Anchorage where he earned a bachelor's degree in education.

He spent summers commercial salmon fishing on his father's boat during his high school and undergraduate years, and taught in the Anchorage School District for 10 years. While teaching, Mack received a Master of Science from Western Oregon University. He also holds a Master in Business Administration from Alaska Pacific University.

As president, Mack is a key member of The Aleut Corp.'s executive management team. He actively promotes the corporation's positions on culture, education and economic-development issues. He communicates key Aleut messages to essential audiences, and conveys policy recommendations to government leaders. He aims to effectively distribute corporate funds, helps increase outside funding for...