Alaska
Alaska Pacific University is offering a new scholarship with money from a student-managed investment fund
Alaska Pacific University has a new scholarship that stems from a student-managed real-world investment fund. The fund has grown from $200,000 in seed money to nearly $2 million since it started in 2001. The new scholarship offers up to $4,000 per semester for eligible students pursuing an undergraduate degree in business or and MBA.
Alaska Public Media’s Ava White spoke with APU’s MBA Director and assistant professor of business, Lincoln Garrick. He says the fund started about 20 years ago, when Robert B. Gillam donated 100,000 dollars in seed money to the university.
This script has been lightly edited for clarity and length.
Lincoln Garrick: Basically, it’s a portfolio that students would be in charge of. APU matched that money 100%. So, the fund started with $200,000 and over the last 23 years, students have taken the class and purchased stocks and bonds and different financial securities.
It’s grown and [the fund] was over $2 million and so a decision was made to peel off some of those unrealized gains, and create a scholarship program. We were looking at how big it was getting. It was getting to the point where it was maybe a little unwieldy for us as a class, to invest, and they still have that amount of diversification in it.
One of the big inspirations here in creating this scholarship fund was to open up doors for folks who have interest in finance and have interest in business areas, but maybe don’t have the funds to make that happen in their lives.
AW: How unusual is this? I mean, do you know of any other schools that are using this model of a student managed fund that’s eventually providing scholarships for future students?
LG: Student funds are pretty common. Throughout the United States, a good number of them are virtual funds, meaning that they’re simulated, in that you work through a computer program and you invest pretend dollars. Some schools use actual dollars.
I don’t know of too many who have had both the success that the APU student fund has had, and also have made the decision to take those unrealized gains and turn it into a scholarship program.
AW: One thing I was really interested to see is that this fund created this class that you’re talking about, where students are actually getting to work on and grow this fund. And you’ve mentioned that you’ve actually taken this class yourself. Can you walk me through what the hands on aspect looks like?
LG: It is still, in many ways, a stock picking class.
It is a growth fund, meaning that the goal is to get as much gain as possible in the period of time that the course runs. But it’s also a very diversified fund. One of the ways that we mitigate risk the same way you would in a diversified portfolio, by having a basket of different types of goods, so that if one industry, like financial instruments, goes down, then you have a hedge against that downturn by having other things in the basket.
AW: You’re kind of hinting at it a little bit, but obviously this class is a learning experience, but everybody makes mistakes. So how do you balance keeping the class a learning experience while keeping it and making sure that students aren’t suffering the fund?
LG: You’re not going to torpedo the fund as a student. That’s just not going to happen. Through the lessons of the class, you are able to identify the best options within your particular industry.
We have some parameters around the fund. We don’t invest in emerging markets, we don’t invest in any of the areas like derivatives or shorting stocks. We would say the Russell 4000 is kind of our home turf.
AW: As someone that’s worked on this fund, this must be a really full circle moment for you. Can you talk a little bit about what this is like?
LG: I had no idea of what the world of finance looked like. I learned so many things through that class. How people view money is different based on how much they have. I think a lot of the learning goes beyond just picking stocks.
But, the role of finance is really what I took from the class. Being able to take some seed money, invest it in companies based on sound financials, and then have those realized gains turn into opportunities for folks that come after you, 10 or 20, years later. I think [that’s] something poetic and remarkable.

Ava White reports on economics and hosts the statewide morning news at Alaska Public Media. Reach her at awhite@alaskapublic.org or 907-550-8445. Read more about Ava here.
Alaska
Alaska’s voter roll transfer: Republicans bash hearing questioning if lieutenant governor broke the law
JUNEAU, Alaska (KTUU) – A legislative hearing into the legality of Alaska’s voter roll transfer to the federal government ended in partisan accusations Monday, with one Republican calling it a “set-up” and others saying it was unnecessary, while Democrats defended it as needed oversight.
“Andrew (Gray) and the committee has a bias. I mean, that much is obvious from watching it,” Rep. Kevin McCabe, R-Big Lake, told Alaska’s News Source walking out of the hearing before it gaveled out. “Most of the testimony was slanted against the state and against the federal government.”
The House State Affairs and Judiciary committees met jointly Monday to hear testimony about whether Dahlstrom violated the law when she transferred the entirety of Alaska’s voter rolls to the federal government.
Rep. Steve St. Clair, R-Wasilla, agreed with his Big Lake counterpart that the hearing was unnecessary.
“I think we’re speculating on what the intent of the DOJ is and I believe we need to wait and see,” he said.
Rep. Andrew Gray, D-Anchorage and chair of the House Judiciary Committee, pushed back when told of his Republican colleagues’ reaction.
“I think that I went above and beyond to try to include everybody,” Gray said as he left the meeting. “If people are saying that if the Obama administration had asked for the unredacted voter rolls from Alaska, that all these Republicans around here would have just been like, ‘oh, take it all. Take all of our information.’
“That is not true. That is absolutely not true,” Gray added.
Rep. Ted Eischeid, D-Anchorage, backed his House majority colleague, questioning whether Republicans would have preferred if the topic not be addressed at all.
“The minority folks on the committee had a chance to ask questions,” he said. “I think this is a meeting we needed to have. Alaskans have asked for it. I think there’s still a lot of unanswered questions. So shedding light on the state’s actions, that’s bias?”
Dahlstrom did not attend the hearing. Gray said she was invited multiple times but cited scheduling conflicts. The lieutenant governor oversees the Alaska Division of Elections under state law.
In her most recent public statement — published Feb. 25 on her gubernatorial campaign website, not through her official office — Dahlstrom defended the voter roll transfer, saying the agreement with the DOJ was “lawful, limited” and that Alaska retains full authority over its voter rolls.
“The DOJ cannot remove a single voter from our rolls,” she wrote. “Its role is limited to identifying potential issues, such as duplicate registrations or individuals who may have moved or passed away.”
Representatives from the state’s Department of Law and Division of Elections both testified in defense of Dahlstrom’s decision. Rachel Witty, the Department of Law’s director of legal services, told the committee the state viewed the DOJ’s purview.
“The DOJ’s enforcement authority is quite broad,” Witty said. “And so, we interpreted their request as being used to evaluate and enforce HAVA compliance.”
HAVA — the Help America Vote Act — is a federal law that sets election administration standards for states.
Lawmakers also heard from an assortment of outside witnesses who largely questioned the legality of Dahlstrom’s actions, including former Lt. Gov. Loren Leman, who served under Republican Gov. Frank Murkowski, and former Attorney General Bruce Botelho, who served under Democratic Gov. Tony Knowles.
The Documents: A Months-Long Timeline
As part of the hearing, the committee released months’ worth of documents between the Department of Justice — led by Attorney General Pam Bondi — and Dahlstrom’s office, detailing the effort to transfer Alaska’s voter rolls over to Washington.
The DOJ first asked Dahlstrom to release the voter rolls in July of last year, citing the 1993 National Voter Registration Act, which requires states to allow federal inspection of “official lists of eligible voters.”
Dahlstrom agreed to release the records in August, providing a list of voters designated as “inactive” and “non-citizens,” along with their voting records and the statewide voter registration list — but it did not include what the DOJ wanted.
“As the Attorney General requested, the electronic copy of the statewide [voter registration list] must contain all fields,” reads an email sent 10 days after Dahlstrom agreed to release the data, “including the registrant’s full name, date of birth, residential address, his or her state driver’s license number or the last four digits of the registrant’s social security number.”
Dahlstrom agreed to provide the full details months later, in December, citing a state statute that permits sharing confidential information with a federal agency if it uses “the information only for governmental purposes authorized under law.” Those purposes, she wrote in the email, are to “test, analyze and assess the State’s compliance with federal laws.”
“I attach some significance to the fact that it took the State … nearly four months to respond to the Department of Justice’s demand,” former AG Botelho told the committee.
That same day, Dahlstrom, Alaska Division of Elections Director Carol Beecher and DOJ Assistant Attorney General Harmeet Dhillon signed a memorandum of understanding governing how the data could be accessed, used, and protected.
Dahlstrom’s office publicly announced the transfer nine days after the MOU was signed — nearly six months after the DOJ first made its request.
“Alaska is committed to the integrity of our elections and to complying with applicable law,” Dahlstrom said in the December statement. “Upon receiving the DOJ’s request, the Division of Elections, in consultation with the Department of Law, provided the voter registration list in accordance with federal requirements and state authority, while ensuring appropriate safeguards for sensitive information.”
A 10-page legal analysis from legislative counsel Andrew Dunmire, requested by House Majority Whip Rep. Zack Fields, D-Anchorage, concluded that the DOJ’s demand defied legal bounds.
“The DOJ’s request for state voter data is unprecedented,” Dunmire’s analysis states, adding that the legal justification the DOJ used to demand access to the data has never been applied this way before.
“Multiple states refused DOJ’s request, which has resulted in litigation that is now working its way through federal courts across the country,” he adds.
The Senate holds an identical hearing Wednesday, when its State Affairs and Judiciary committees take up the same questions.
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Alaska
Alaska Air National Guard rescues injured snowmachiner near Cooper Landing
JOINT BASE ELMENDORF-RICHARDSON, Alaska – Alaska Air National Guard personnel conducted a rescue mission Saturday, Feb. 21, after receiving a request for assistance from the Alaska State Troopers through the Alaska Rescue Coordination Center.
The mission was initiated to recover an injured snowmachiner in the Cooper Landing area, approximately 60 air miles south of Joint Base Elmendorf-Richardson. The Alaska Air National Guard accepted the mission, located the individual, and transported them to Providence Alaska Medical Center in Anchorage for further medical care.
The mission marked the first search and rescue operation conducted by the 210th Rescue Squadron using the HH-60W Jolly Green II, the Air Force’s newest combat rescue helicopter, which is replacing the older HH-60G Pave Hawk. Guardian Angels assigned to the 212th Rescue Squadron were also aboard the aircraft and assisted in the recovery of the injured individual.
Good Samaritans, who were on the ground at the accident site, deployed a signal flare, that helped the helicopter crew visually locate the injured individual in the heavily wooded area.
Due to the mountainous terrain, dense tree cover, and deep snow in the area, the helicopter was unable to land near the patient. The aircrew conducted a hoist insertion and extraction of the Guardian Angels and the injured snowmachiner. The patient was extracted using a rescue strop and hoisted into the aircraft.
The Alaska Air National Guard routinely conducts search and rescue operations across the state in support of civil authorities, providing life-saving assistance in some of the most remote and challenging environments in the world.
Alaska
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