Reflecting back over the last year, as well as the last 30 years, we as shareholders, board members, managers, and staff have a lot to be proud of and grateful for.

This part of the year always brings forth time for reflection. And from within, it brings a sense of giving and appreciation of those who have given of themselves for the betterment of those in need. I can think of many, many companies and individuals that have gone to exceptional lengths to help those less fortunate.

As I reflect back on CIRI, we, too, have much to be proud of. CIRI has returned to its shareholders over three-quarters of a billion dollars. And shareholders still own a company with book equity of more than $650 million. In addition, over that period of time, CIRI has been able to provide a myriad of other benefits to our shareholders and their descendants.

If we take a look at our record of giving, CIRI can truly be proud. Not only because we were fortunate enough to return to shareholders over three-quarters of a billion dollars, but during that time we were also able to give The CIRI Foundation and many other needy charities throughout the state over $52 million.

I am sure that many of you also give of yourselves, whether it be your time, money or effort to those causes you believe are worthy; we certainly appreciate all of your efforts in this regard.

I would also like to express gratitude and appreciation to Cook Inlet Tribal Council, Southcentral Foundation, the Rasmuson Foundation, the Foraker Group, First Alaskans Institute, United Way and the many other foundations and institutions that have been or are being formed to benefit Alaska Natives and all Alaskans – especially since they all have been started by successful business entities in Alaska.

On behalf of CIRI, I also wish to express our gratitude and appreciation to Alaska's congressional delegation for the many years of effort they have selflessly given of themselves for the betterment of our shareholders, all Alaska Natives and all Alaskans. I can say without a doubt that our lives are much better than they were 30 years ago because of the efforts of Sen. Ted Stevens, Congressman Don Young, and our newest senator, Lisa Murkowski, all of whom have worked long and hard for the betterment of all Alaskans.

While we spend time during these holiday months with our loved ones, we need to reflect back and be thankful for what we have received and not forget that even though we have seen many successes, we still have a long way to go. There still exist many problems to solve and many Alaska Native people who have needs to be addressed.

As we are reminded throughout our lives, Alaska Native cultures are built on a tradition of sharing; at this time of year we need to draw on that tradition to help as many others in any way we can.

In closing, we at CIRI wish all of you the safest and most joyous holiday season ever. I look forward to continuing to serve you in the coming year.

Merry Christmas and Happy New Year.