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

Uncle Ben says: Buy bonds to help Oregon

| Print |  Email
Archives - March 2009
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

Managing family assets: The importance of planning ahead

News
Friday, August 22, 2014
Unknown-1BY CLIFF HOCKLEY |  OB GUEST CONTRIBUTOR

When business intersects with family, a host of  situations can arise. Without a clear vision and careful planning, hard-earned investments can become stressful burdens.


Read more...

Downtime

October 2014
Thursday, September 25, 2014
BY JESSICA RIDGWAY

I'm not very interesting,” says a modest Ray Di Carlo, CEO and executive producer of Bent Image Labs, an animation and visual effects studio.


Read more...

Two sides of the coin

Contributed Blogs
Monday, August 25, 2014
0825 thumb moneyBY JASON NORRIS | OB GUEST BLOGGER

Ferguson Wellman’s investment views on the economy and capital markets.


Read more...

Podcast: Interview with Steve Balzac

Contributed Blogs
Tuesday, August 19, 2014

082014BalzacBY TOM COX | OB BLOGGER

Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."


Read more...

Powerlist: Law Firms

October 2014
Thursday, September 25, 2014
BY KIM MOORE

A conversation with leading partners at law firms in Portland and eastern Oregon, followed by October's powerlist.


Read more...

Podcast: Interview with Pete Friedes

Contributed Blogs
Wednesday, August 27, 2014

082714-thumb friedesbookTom Cox interviews Pete Friedes, author of "The 2R Manager," about becoming a Best Boss.


Read more...

College Hacker

September 2014
Wednesday, August 27, 2014
BY KLINT FINLEY

Treehouse CEO Ryan Carson builds a 21st-century trade school.


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