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

The short list: 5 companies making a mint off kale

The Latest
Thursday, November 20, 2014
kale-thumbnailBY OB STAFF

Farmers, grocery stores and food processors cash in on kale.


Read more...

Semiconductor purgatory

News
Monday, October 06, 2014
roundup-logo-thumb-14BY LINDA BAKER | OB EDITOR

Intel's manufacturing way station; Merkley's attack dog; Diamond Foods gets into the innovation business.


Read more...

October surprise

News
Sunday, October 12, 2014
roundup-logo-thumb-14BY LINDA BAKER

Cylvia Hayes, tabloid vs. watchdog journalism and the looming threat of a Cascadia earthquake.


Read more...

Podcast: Turn Things Around with David Marquet

Contributed Blogs
Friday, October 17, 2014
davidmarquet thumbBY TOM COX | OB BLOGGER

How can you move from a command-and-control leadership model to one of true empowerment and accountability? David Marquet did, and he took notes along the way.


Read more...

Political Clout

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

Businesses spend billions of dollars each year trying to influence political decision makers by piling money into campaigns.


Read more...

The Diaspora

October 2014
Thursday, September 25, 2014
BY LEE VAN DER VOO

Former newspaper reporters move into brand journalism.


Read more...

Two Sides of the Coin

Contributed Blogs
Friday, September 26, 2014
0926 iphone6-thumbBY JASON NORRIS | GUEST BLOGGER

This post focuses on the recent release of the new Apple iPhone as well as Alibaba's IPO, the largest U.S. IPO in history.


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