Alaskans need to hear from the Alaska Permanent Fund Corp. on real risks of 'private equity'

While the trustees of the Alaska Permanent Fund Corp. are distracted with the bubble-headed Anchorage office sideshow, they really should be doing more to explain to Alaskans what risks they are taking on our behalf with the investments in the $78 billion account.

I wrote here in June about the new book by veteran reporter Gretchen Morgenson and Joshua Rosner that should be required reading for Alaskans: “These are the Plunderers: How Private Equity Runs—and Wrecks—America.”

Add another book to the reading list, “Plunder: Private Equity’s Plan to Pillage America,” by Brendan Ballou.

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Dermot Cole Comments
State told Kinross a 1 percent weight cut would make their mining trucks OK on North Pole bridge

State engineers did indeed tell Kinross that a 1 percent cut in the weight of their mining trucks is all the company needs to meet the load limits on the Richardson Highway bridge in North Pole over the Chena River floodway.

One percent hardly seems to provide a sufficient margin of safety, seeing as how the trucks could well gain more than that amount on a winter’s day from ice picked up on the drive from Tetlin.

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Dermot Cole Comments
Now we find out that 2 Fairbanks bridges can't handle fully-loaded Kinross trucks

The Steese Highway bridge over Chena Hot Springs Road and the Richardson Highway bridge over the Chena flood control area in North Pole don’t have the capacity to handle the Kinross mining trucks with full loads.

The Dunleavy administration, headed by the guy who wants Alaskans to “say yes to everything”—has been grossly negligent in withholding this information from the public until now.

As recently as mid-summer, the state claimed on its website that the bridges could handle the trucks proposed for the Tetlin-Fort Knox route.

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Dermot Cole Comments
Food security task force repeats proposal for creating a state ag department, boosting university research

It’s no surprise that the new report from the 36-member “Alaska Food Strategy Task Force” covers much of the same ground as the report released last spring from the now-defunct 22-member “Alaska Food Security and Independence Task Force.”

The new task force, headed by Sen. Shelley Hughes, threw this report together in a rush, but the most important lesson to be understood is that it will take work, money and leadership if Alaskans want to do more about food security than keep talking about it.

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Dermot Cole Comments
Murkowski, Sullivan misrepresent the location of Chinese, Russian warships

Sens. Lisa Murkowski and Dan Sullivan made exaggerated claims about the exact location of the 11 military vessels from China and Russia tracked in the north Pacific last week, then launched into their standard refrain about why the U.S, needs to spend a lot more money in Alaska on the military.

Their standard refrain never includes any suggestion about how they intend to pay for what they want.

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Dermot Cole Comments
Dunleavy administration misuses public records law to conceal how Curtis Thayer and governor’s office lobbied to fire UA energy expert from state energy task force

Rarely have we seen a clearer example of the state misusing state law about public records than the clumsy effort to cover Curtis Thayer’s tracks in the firing of University of Alaska researcher Gwen Holdmann from the Dunleavy energy task force.

Holdmann is the founding director of the Alaska Center for Energy and Power. She was vice chair of the task force, appointed by Dunleavy March 22, a perfect choice for that volunteer position.

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Dermot Cole Comments