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Alaska Pacific University is offering a new scholarship with money from a student-managed investment fund

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Alaska Pacific University is offering a new scholarship with money from a student-managed investment fund



The sign marking the entrance to Alaska Pacific University sits behind pillows of snow on a sunny March morning in Anchorage, Alaska. (Valerie Kern/Alaska Public Media)

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. 

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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?

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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.

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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. 

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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

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.





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Alaska Senate committee unveils crime bill package in final weeks of the legislative session

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Alaska Senate committee unveils crime bill package in final weeks of the legislative session


JUNEAU, Alaska (ALASKA BEACON) – With only four weeks left of the legislative session, the Senate Judiciary Committee has merged several bills into a wide-ranging omnibus crime bill. Even with the tight timeline, some lawmakers are optimistic about its chances for passage before the end of the session, Corinne Smith with the Alaska Beacon reports.

The new draft omnibus crime package combines ten bills ranging from raising the age of consent to increasing criminal penalties for AI-generated child sexual abuse material into one large bill supporters hope will have the momentum to pass both the House and the Senate in the next 28 days.

The Senate Judiciary Committee chair Sen. Matt Claman, D-Anchorage, introduced the 55-page omnibus bill on Friday, saying the bills have a stronger prospect as a package.

“I think that increases the likelihood we’ll be able to pass it,” he said in an interview on Monday.

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With one month to go in the second year of the two-year legislative cycle, this is the last opportunity for bills to be passed by the 34th Legislature.

The draft omnibus crime bill was added to House Bill 239, sponsored by House Majority Leader Rep. Chuck Kopp, R-Anchorage, who spoke in support at the hearing on Friday.

“This bill has grown, it’s gone from the sports car to the school bus” he said. “Policies I all support as a bill sponsor.”

Gov. Mike Dunleavy sponsored two bills included in the omnibus package, but did not respond to a request for comment on Tuesday.

The bills included are in various stages. Some have passed the House, while others are being considered by various committees in the House and Senate. Several lawmakers who sponsored bills now included in the omnibus package agreed that politically it could increase chances of passage by May 20.

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Rep. Sarah Vance, R-Homer, sponsored a bill that would create state felony penalties for AI-generated child sexual abuse material. It unanimously passed the House last month.

“I’m excited that it’s included in the omnibus bill, because that shows intent by the Senate to pass the bill,” Vance said on Monday. “So I have great confidence that it will cross the finish line.”

But Claman, who is running for governor, has drawn public criticism for the process of how the omnibus crime bill was put together this session.

Advocates for raising the age of consent — along with the Anchorage Daily News editorial board — criticized Claman for holding a bill to raise the age of consent to 18 in the Senate Judiciary Committee, which passed unanimously by the House last year, in order to be included in the omnibus bill. Critics urged Claman and the committee to pass the bill and allow it to move forward as a stand alone bill toward a full Senate vote and final passage.

Claman has argued that despite limited time left in the session, the bills included have been vetted and the combination package will garner more support among legislators and the governor to pass in the last few weeks of the session.

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“I’ve been in the Legislature now since 2015, and so in the last 11 years, we’ve passed 11 different bills relating to public safety,” he said. “So I think there are ten different measures that we put into the bill, and if we tried to do them all individually, probably wouldn’t get them all passed.”

Claman pointed to an omnibus crime bill, House Bill 66, enacted in 2024, with support from Gov. Mike Dunleavy and across political affiliations. “That’s certainly, I think, the best example,” he said. “So I do have confidence we’ll get it passed.”

Rep. Andrew Gray, D-Anchorage, sponsored House Bill 101, the bill that would raise the age of consent from 16 to 18 years old. Backed by advocates for sexual violence prevention, he said the change in law is essential for protecting teens from sexual exploitation and abuse. Under current law, it’s legal for an adult to have sex with a 16 or 17 year old. But when they are assaulted, teens must prove that they did not consent.

Despite previous disagreement and pushing for a stand alone bill, Gray said Monday he will back the omnibus crime bill in order to see the law changed.

“If that happens, inside an omnibus crime package that has other bills that are also worthy of passage, I’m fine with that,” he said. “I just want the policy to change.”

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The draft omnibus crime bill now contains ten bills that previously stood alone:

  • House Bill 239 — would increase criminal penalties for hit and run incidents so that drivers that cause a death and knowingly failing to stop and render assistance, and establishes mandatory sentencing of four to seven years for a first hit and run felony conviction
  • House Bill 101 — would raise the age of consent from 16 to 18 years old, with provisions to allow consent to sex with someone up to six years older than them. The draft bill also allows 16 and 17 year olds to consensually exchange sexual or explicit messages within the six year close-in-age gap without penalties.
  • Senate Bill 247 — would create state criminal penalties for creating AI-generated images or video that depicts sexually explicit or obscene content involving anyone under 18 years old
  • House Bill 62 — Sponsored by Gov. Mike Dunleavy, the bill would establish a statewide tracking system for sexual assault examination kits, expedite processing times, and ensure that survivors can privately monitor the status of their own kit. 
  • Senate Bill 100 — Also sponsored by the governor, and would establish the crime of organized theft, including mail theft and medical record theft
  • House Bill 242 — would redefine criminal law to prohibit any sexual contact or assault by a health care worker during professional treatment, changing the current law which only applies to patients being unaware of sexual contact or assault for criminal charges to apply. 
  • Senate Bill 17 — would establish the crime of airbag fraud for knowingly selling, installing or manufacturing a counterfeit airbag in a vehicle 
  • House Bill 81 — would establish minor marijuana related convictions to remain confidential on individuals personal records, under certain criteria
  • House Bill 384 —  would expand confidentiality agreements between victims and service providers by updating the definition of “victim counseling center” to include tribal organizations
  • Senate Bill 233 — would reassign the Controlled Substances Advisory Committee from being administered by the Department of Law to the Department of Commerce, Community and Economic Development. 

The new version of Vance’s bill focused on AI-generated child sexual abuse material included in the bill is closer to her initial proposal. Social media controls for minors added by the House were stripped out of the Senate version. Vance said she supports the amended version given First Amendment protections around social media.

“I think that was a wise decision right now, because Alaskans are very mixed on how they feel that we should address social media,” Vance said.

Rep. Sara Hannan, D-Juneau, is the sponsor of House Bill 242, and said she supports her bill being included in the Senate omnibus, but she is still pushing to advance her standalone bill in the House.

“I need people who didn’t serve on the two committees that heard it in the House to understand it,” she said, as the Senate draft will come back to the House for a concurrence vote. “It still helps to educate on the issue.”

Hannan’s legislation follows a high profile case in Juneau last year where the court dropped several charges against a chiropractor because under current law part of the legal definition of sexual assault by a medical provider requires the alleged victim to be unaware the assault is happening.

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“Right now, the victim needs to be unaware, and the perpetrator needs to know that they are unaware,” Hannan said Tuesday. “So to change that in statute, I think is an important policy statement for us to make.”

Hannan said significant policy bills typically take several years to get through the Legislature, with public input, debate and support gathering. But she expressed confidence in the support for the omnibus crime bill in the weeks ahead.

“We’re running the clock down,” she added. “The only downside, from my perspective, is the advocates and the victims that were directly involved in the case that inspired this bill. You know, they get more acknowledgement when it’s the standalone bill… But in the end, if the goal is to change the policy, there’s no downside to it.”

The Senate Judiciary Committee will continue to hold hearings on the crime bill this week and its members have until Friday to introduce amendments before it advances to the Senate floor for a vote. Claman said he expects that to be in the last week of April.

This story has been republished with permission from the Alaska Beacon.

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Hawaiian, Alaska reservation systems merge: Big changes for travelers start April 22

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Hawaiian, Alaska reservation systems merge: Big changes for travelers start April 22


HONOLULU (KHON2) — It’s the biggest milestone yet in the Hawaiian Airlines merger with Alaska Airlines.

Starting Wednesday, April 22, Hawaiian Airlines and Alaska will operate as one, powered by a single passenger reservation system, essentially the technology behind your entire travel experience.

“The system that connects all of the programs that our guests use, things like our websites, our app, our Atmos rewards program, our Huaka’i program, all of those systems, including employee tools, will be updated as of tomorrow to a more modern single passenger service system that will allow a more stream streamlined and seamless guest experience for all those that are traveling on either Alaska or Hawaiian that will allow a more stream streamlined and seamless guest experience for all those that are traveling on either Alaska or Hawaiian,” said Alisa Onishi, Hawaiian Airlines Marketing Manager.

By midnight tonight, the Hawaiian app goes dark, replaced by a new combined Alaska-Hawaiian platform, marking a major shift in how you book and manage your flights.

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“If you download our new single Alaska-Hawaiian app, you’ll be able to manage your bookings all in one place, make changes, cancellations and a lot more self-service features that our guests have been asking us for for quite some time now that you couldn’t do on the old app,” said Onishi.

Behind the scenes, this moment has been three years in the making. Alaska announced its $1.9 billion acquisition back in 2023, with approvals and integration steps unfolding through 2024 and 2025.

At the airport, much will look the same, but the process is getting an upgrade. Travelers are encouraged to check in ahead of time, using the new app, then use updated bag tag stations to print tags and drop bags faster.

“You scan your boarding pass, prints out the bag tags. You can pay or prepay online or pay at the stations and then drop your bag, so you’ll get through the airport a lot quicker,” said Onishi.

Airline officials said the goal is a more seamless, self-service experience, something customers have been asking for.

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Still, not everyone is convinced.

“Even today, when I was trying to get my boarding passes, there was a Hawaiian-Alaskan app that I went to, and then it referred me back to the Hawaiian app. So I didn’t know what application I was supposed to be using, but ultimately, it worked out to a point,” said Ethan Christensen, who was standing in line at customer service to confirm his flight for tomorrow. “But yeah, we’ll see. Hopefully, it gets better. I mean, I know these things take time, especially when you’re kind of merging two big things like this, but the outlook is positive for me because I know it’s a good airline. Hopefully it stays that way.”

The call centers are not going away, and customer service desks will remain at the airports for those who need one-on-one help.

Airline leaders acknowledge the transition so far hasn’t been perfect, but said this milestone is meant to fix many of those issues.

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Alaska’s embattled economic development agency approves $700,000 PR budget

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Alaska’s embattled economic development agency approves 0,000 PR budget


The Anchorage headquarters of the Alaska Industrial Development and Export Authority, or AIDEA. (Nathaniel Herz/Northern Journal)

The state agency leading some of Alaska’s most polarizing development projects has approved a new communications budget, saying it needs to do a better job telling its own story amid attacks from critics.

The state-owned Alaska Industrial Development and Export Authority is run by a former chief of staff to Gov. Mike Dunleavy and is charged with promoting economic growth and expanding natural resource extraction and exports.

It is leading work to develop state-owned oil leases in the Arctic National Wildlife Refuge and also hopes to build two controversial new roads to access mining prospects in Northwest Alaska and outside of Anchorage.

Those projects have drawn sharp opposition from conservation organizations and other critics, including lawsuits, critical op-eds and campaigns that have labeled the agency “Bad AIDEA” and caricatured its leaders.

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At a meeting in Ketchikan this month, board members, with no public discussion, authorized AIDEA’s staff to spend up to $700,000 a year on a new communications budget — formalizing a plan that the agency says was previously budgeted inconsistently through spending on individual projects.

The new communications plan, the agency said in its formal resolution authorizing the spending, will “ensure proper public engagement, transparency, and stewardship of the authority’s mission.” The money could go toward trade shows and conferences, responding to media inquiries and “other communications-related needs,” according to the resolution.

The agency’s executive director, Randy Ruaro, referred questions about the plan to Dave Stieren, an AIDEA employee who ran an advertising agency and hosted a conservative talk radio show before joining the Dunleavy administration.

AIDEA Executive Director Randy Ruaro listens to comments during a news conference held by Gov. Mike Dunleavy to discuss the future of energy in Alaska in Anchorage on Jan. 6, 2025. (Marc Lester / ADN)

Stieren said he could not provide exact figures on AIDEA’s past communications spending, but he acknowledged that the new plan should allow the agency to meaningfully boost its public profile.

The $700,000 a year, he added, is a limit, and the agency will set a final budget through a request for proposals process.

“Mothership AIDEA has done, frankly, little to nothing on a consistent basis to tell our story,” Stieren said in an email — particularly when it comes to its loan programs that have helped finance tourism and hospitality businesses, like the Alaska Club fitness chain and Anchorage’s Bear Tooth pizza restaurant and theater.

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“We’re far more than roads,” Stieren said. “But since we’ve really not promoted or showcased our efforts in traditional finance areas, I understand the narrative or lack thereof that folks may have.”

Stieren has also personally defended AIDEA on social media, including over the weekend — when he posted a conservative news website’s positive story about an agency-owned shipyard and said that “when commie libs attack AIDEA, they attack projects like this.”

A social media post by AIDEA employee Dave Stieren. (Screenshot)

AIDEA’s board chair, Bill Kendig, declined to answer questions about approval of the new communications budget when reached by phone.

At the Ketchikan meeting, one AIDEA critic, Melis Coady, credited the agency with formalizing communications spending as a “step toward accountability.” But she said that the plan doesn’t “deliver the transparency it describes” because it gives Ruaro, the executive director, authority to approve communications spending, and only requires that he report it to the board if asked.

“The authorization is broad, the dollar amount is undefined, and expenditures are approved solely by the executive director,” said Coady, who leads a conservation group called the Susitna River Coalition.

Ruaro, in an email, said AIDEA will issue reports on communications to board members “whether requested or not.”

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Nathaniel Herz is an Anchorage-based reporter. Subscribe to his newsletter, Northern Journal, at northernjournal.com.





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