The recent COVID-19 pandemic brought us together in several different ways many did not expect. Cape Fox Corporation and all of its subsidiaries felt the effects. We made sure to react in ways that protected our Shareholders, employees, and customers, but also protected the future of the company. While Cape Fox was fortunate on its federal side to have more minimal consequences, its commercial team did have to make more adjustments. Cape Fox was proactive in trying to understand all the needs of its employees and ithe company to ensure we can still have a positive outcome in 2020.
Federal Contracting Group
While the federal contracts have had a more minimal impact from the Coronavirus pandemic, there has still been an impact. Most of our contracts have had to transition to telework situations. This has included ensuring new technologies are established, and new software programs are used. Telework protocols had to be created, and new guidelines for some contracts to ensure security and data safety. Cape Fox did a great job getting everyone set up to work remotely with the systems and programs needed. Our contracts are still active and maintaining the Cape Fox standard of efficiency and maintaining mission requirements.
All of our commercial businesses are located in the Village of Saxman and Ketchikan, Alaska. On March 11th, the major cruise lines canceled all cruises into Alaska for a period of time, while on March 17th, Governor Dunleavy of Alaska closed all bars and restaurants for dine-in services. Most of our major commercial businesses rely on tourism. This meant several had to adapt to new regulations. Our restaurants, the Heen Kahidi restaurant in Cape Fox Lodge, Bar Harbor Ale House, Sweet Mermaids, and Dockside Galley, started offering to-go and delivery services. The new Cape Fox entity 108 Tap House and Burger Bar was nearing the end of renovations when the orders to close were instituted. Once the restrictions are lifted again, 108 Tap House and Burger Bar will have its grand opening.
Many things will return to normal in Ketchikan once the restrictions on businesses are lifted. Cape Fox Corporation will again be able to hire for summer positions, tourists will be visiting and experiencing the city, and everyone will be enjoying the full menu offerings while dining in our beautiful Alaskan restaurants.
When concerns over the pandemic began, Cape Fox appointed a Safety and Emergency Preparedness Committee. This committee currently has six members on it with plans to include more possible members in the future. The objective of the committee is to:
- Identify corporate, federal, and commercial vulnerabilities
- Discover our current redundancies
- Plan for potential scenarios
- Assign tasks to leads
Cape Fox has also recognized the impact this pandemic has had on our Shareholders, employees, and customers. We have continuously sought ways to alleviate many of these needs when we can. On April 1st, Cape Fox Corporation, in partnership with the Village of Saxman, distributed over 120 gift bags. Each bag contained essential food and non-perishable items, including sugar, flour, coffee, Kool-Aid, dish soap, laundry detergent, toilet paper, donuts, tea, chips, and bread.
One of the primary missions of Cape Fox is to support our Shareholders. Alaska felt the effects of the Coronavirus in many employment and financial ways. In April, the Cape Fox Board accelerated the distribution of the 2020 Spring 7(j) dividend to our Shareholders, which went out in early April. The Board also authorized a second dividend distribution, which went out at the end of April. The growth of the company has allowed Cape Fox Corporation to send these two dividends. Our hope is by Shareholders receiving their dividends; it will ease some of the financial burdens caused by the outbreak. Cape Fox Corporation is focused on our Shareholders, and we want to do what we can to support our community.
While there have been many challenges that have arisen from this global pandemic, Cape Fox has tried to ensure our company, our Shareholders, our employees, and our customers are united because we are all Team Cape Fox. Our Cape Fox Team has come together in unity in unprecedented ways, which has continued the strength and success of the business. Many ways we have expanded our team approach has been with increased corporate communications to provide continuous news and updates, social connections so even when we are apart; we are together, and maintaining our operational standards. The most significant response Cape Fox has seen from this Coronavirus is that we are still Cape Fox Strong. Go Team Cape Fox!