Mystery meeting: Permanent Fund’s Governance Committee convenes Monday

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The Alaska Permanent Fund Board of Trustees’ Governance Committee has called a meeting for Monday. During the past few weeks, the Fund’s governance has been fraught with controversy, after emails emerged that showed possible conflict of interest by trustee Ellie Rubenstein, who also happens to be the chair of the Governance Committee.

The agenda is vague concerning the reason the meeting has been called, but it is sure to draw the interest of the media. The Alaska Landmine broke the story that revealed emails that showed the professional staff of the Permanent Fund felt pressured by Rubenstein to forge closer relationships with companies associated with her father, billionaire David Rubenstein, founder of the Carlyle Group.

The APFC Board and staff fall under the State of Alaska Executive Branch Ethics Act, which is in state law. All board members and employees are briefed on the Ethics Act requirements as part of their orientation. The Act speaks to a prohibition on officers acting upon personal or financial interests in the performance of their public responsibilities.

The agenda merely says the topic is about amendments to the governance policies and personnel management.

The governance policy is at this link. It says, among other things, that the board will establish a communications policy which sets out guidelines with respect to how the board and individual trustees should communicate with the staff of AFPC, service providers, the media (including social media) and other external parties.

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3 COMMENTS

  1. The #1 Priority & Fiduciary Responsibility needs to be “Profits & Growth” … Everything else is just Foo-Foo Chit! Forget about “non-return” endeavors such as: Ethics, Feelings, Optics, Precedence, DEI, Sarbanes-Oxley, Full Disclosure, and The-Marquess-of-Queensberry-Rules … all of these are mere distractions and endeavors for suckers.

    Message to the “Alaska Permanent Fund Board of Trustees” … Execute Decisively, Fearlessly and Ruthlessly to make us a lot of money!

  2. I spent 14 years 2001-2015 trying to expose how corrupt Alaska Permanent Fund Board (APFB) was and I assume continues to be. I created a website “Alaska Permanent Fund Board Confirmation Committee” wherein I posted the signatures of the investments in the Stock Market of APFB. Why does APFB continue to only be a gubernatorial appointment without any oversight? My website was 3,375 pages and I received 23,579 hits. I still have the pages of the entire site. Our great nation is based on a system of checks and balance. We learned this in high school Civics class!

    I posted 2001-2015 monthly the APFB signatures of their “Individual Investment Transaction Disclosures” that were astronomical. I allege that anywhere else in the U.S. what APFB did then and probably continue to do could be labeled “Insider Trading.” Here it is perfectly legal. APFB hires the investment managers, pick their brains, and make the best Stock Market investment imaginable. If their investments do not reap fabulous returns, these investment managers are fired.

    I tried to start a non-profit about APFB investments but could not get two other signatories to start it.

    In the case of Mr. William G. Moran, Jr., he increased the value of his two banks, First Bank of Ketchikan ($139,083,475.93 to $446,242,935) and Community Bark of Joseph, Oregon ($105,256,156 to $347,000,000) an average of about 330% during the first three years he was a member of APFB 2006-2009. As you know, he had been appointed by then Governor Frank Murkowski as Frank was leaving office 11-15-2006. Please contact me if you would like me to send you the documents.

    Why has no one done anything about how corrupt APFB must continue to be all these years later?

    Please join our Facebook page:”Elect Alaska Attorney General 2026” or email me at ‘[email protected].

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