Home Archives March 2009 Uncle Ben says: Buy bonds to help Oregon

Uncle Ben says: Buy bonds to help Oregon

| Print |  Email
Sunday, March 01, 2009

STATEWIDE

Uncle Ben Westlund wants YOU to buy Oregon bonds.

Sure, the fine print at the bottom of the state treasurer’s new website buybonds.oregon.gov offers a disclaimer that this is not an offer to sell bonds. But the large-print headline at the top of the page is less ambiguous: BUY OREGON BONDS, it urges the reader, in all capital letters, with the state seal stamped next to Westlund’s name and title, followed by an homage to the “scenic Oregon coast” and the “rugged Oregon outback,” stirring up images of a muscular, eagle-eyed Uncle Sam demanding patriotic investments in 1942.  

The urgency of the appeal is understandable. In February, while the U.S. Senate was dallying over the details of a trillion-dollar stimulus package, the Oregon Legislature acted decisively, passing a $175 million “Go Oregon” package to create an estimated 3,000 jobs. That makes more than $1 billion for building and renovating Oregon roads, hospitals and schools, queued up for bonding.

The tricky part is finding investors. Thus the assurance from Westlund that Oregon muni bonds offer a “secure and safe investment in this time of market chaos… exempt from most federal and state income taxes,” followed by his confidence-building reminder that Oregon has never defaulted on a bond.

It didn’t take long for Westlund’s pitch to bring in retail investors, who bought up a record $130 million in Oregon bonds in the program’s debut week. Similar successes have been reported in California, which pioneered the trend in June 2007. No doubt other states will be joining the bond rush soon, in the name of God, country and anything else that closes the deal.        BEN JACKLET


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

 

More Articles

Portland rises

News
Monday, August 18, 2014

IMG 2551Portland is in the middle of another construction boom, with residential and office projects springing up downtown, in the Pearl and Old Town. OB Web Editor Jessica Ridgway documents the new wave.


Read more...

Green Endeavor cleans up

News
Wednesday, August 06, 2014
080614 ULnew greenendeavorBY LINDA BAKER | OB EDITOR

Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.


Read more...

Podcast: Testing for Emotional Intelligence with John Hersey

Contributed Blogs
Friday, September 19, 2014
ivbU3sIXBY TOM COX | OB BLOGGER

How can you tell if you, a peer, a subordinate or a job candidate has the emotional intelligence needed to do well?


Read more...

Launch

September 2014
Tuesday, August 26, 2014
BY JESSICA RIDGWAY

September's Launch article features Orchid Health, BuddyUp and Inter-Europe Consulting.


Read more...

Tight and Loose

September 2014
Wednesday, August 27, 2014
BY JENNIFER MARGULIS

As schools implement more rigorous academic standards, holistic and flexible approaches to K-12 education flourish.


Read more...

Report Card

September 2014
Tuesday, August 26, 2014

Strong public schools shore up the economy, survey respondents say. But local schools demonstrate lackluster performance.


Read more...

Shipping News

September 2014
Tuesday, August 26, 2014
BY JENNIFER MARGULIS

In 2012 The Dalles, a city of some 14,400 located 75 miles east of Portland and often seen as the poor cousin to adjacent Hood River, completed a massive project to revitalize its dock.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS