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Allen Alley's Corporate Practices Become Issue In Race For Treasurer

Alley has History of Working Against Accountability for Wall Street

(October 29, 2008)--Portland, OR--Allen Alley, the Republican candidate for State Treasurer has a record of poor corporate practices including lobbying against accountability and transparency measures; first, as a Bush appointee and later as a corporate CEO.  Mr. Alley also was in the practice of outsourcing Oregon jobs to China and when he was forced to leave Pixelworks, he received the same type of executive compensation, also known as a "golden parachute", that is common practice on Wall Street.

Allen Alley worked against corporate transparency in 2002 when he was appointed by President Bush to the U.S.-Japan Private Sector/Government Commission.  In November of that year, the private sector Commissioners recommended a rolling-back of new Securities and Exchange Commission rules regarding audits, financial reporting, and shareholder rights.

"We encourage the SEC to expeditiously make . exemptions to these rules"

In 2004, according to the Oregonian, Alley continued his work against corporate accountability by lobbying Congress and the SEC to oppose a proposal from the Financial Accounting Standards Board requiring companies to report executives' stock options on corporate income statements.

As the CEO of Pixelworks, Mr. Alley also outsourced over 200 Oregon jobs to China, the same year he was paid over one million dollars which the Seattle Times called "pay for dubious performance".

In 2006, when Alley was forced to resign as CEO of Pixelworks due to his management decisions that drove down the company's value by hundreds of millions of dollars, he received a "golden parachute" that pays him over $50,000 a year and health care benefits.

"Allen Alley has been engaged in the same corporate practices that have caused this financial crisis," said Stacey Dycus, campaign manager for Ben Westlund. "He has the wrong experience and the wrong priorities to be trusted with public money, voters deserve to know that he's just too risky."

Eugene Register Guard Endorses Westlund

Treasurer: Westlund Legislator's varied experience gives him an edge

Published: Oct 18, 2008 08:28AM

The global financial meltdown has significantly elevated the profile of the race for state treasurer. All of a sudden, no one has to be told why the job of overseeing the state's $75 billion portfolio of pension funds and other investments is vitally important.

Oregonians are fortunate to have two highly qualified candidates for the job: Republican businessman Allen Alley of Lake Oswego and Democratic state Sen. Ben Westlund of Bend. Both men present voters with impressive, though quite different, professional backgrounds.

The ideal treasurer would represent a combination of Alley's extensive experience as a venture capitalist, entrepreneur and corporate executive and Westlund's broad legislative experience, especially as chairman of the budget-writing Ways and Means Committee during Oregon's worst recession, and his deep knowledge of Oregon land use and natural resource issues.

Absent that ideal hybrid, we believe Westlund's public policy experience and more ambitious vision of the role the treasurer can play in advising the governor and Legislature make him the better choice. Oregonians should send Westlund to Salem as the next state treasurer.

Governor Kitzhaber Endorses Westlund for Treasurer

PORTLAND, Ore. (October 17, 2008) - Oregon Senator and Democratic and Independent nominee Ben Westlund (D-Bend) has received the support of Governor John Kitzhaber in his bid for State Treasurer.  The endorsement is meaningful because of Governor Kitzhaber's continuing popularity and is included in Westlund's voter pamphlet statement

"Ben Westlund can help us do more to reduce our dependence on foreign oil and reduce energy costs.  That’s why he has supported investments in new energy sources, like wind, wave and solar, and in conservation,” said Kitzhaber.

Westlund is proposing a comprehensive plan to promote renewable energy and conservation strategies for Oregon called the Cascade Initiative to reduce energy costs.  He also believes Oregon is uniquely positioned to take advantage of the emerging innovation economy.  With the right investments, Oregon can position itself to create jobs and promote sustainable energy development that can lower our energy costs.

“Working on our energy future provides a roadmap to unite people in a common goal,” said Westlund.  “This will build public confidence, despite the economic turmoil the our markets are in now.  We can emerge from our current situation stronger, more prosperous, and in possession of a cleaner environment for future generations."

In the legislature, Westlund helped pass the Renewable Energy Tax Credit Expansion which allowed the Oregon Department of Energy to more effectively use the energy tax credits as incentives for businesses looking to bring jobs to Oregon.   Westlund also address state agency energy use requiring agencies to reduce their consumption of energy by 20% by 2015, saving energy and tax dollars.

Westlund Endorsed by Sierra Club

Knowledge of Issues, Ability to Get Things Done, Cited

BEND, Ore. (October 15, 2008) - Oregon Senator and Independent and Democratic nominee for State Treasurer Ben Westlund (D-Bend) announced the support of the Sierra Club, demonstrating his knowledge of Oregon's resource issues and his ability to find common sense solutions to get things done.

"Ben Westlund's priority is to reduce our dependence on foreign oil supplies and reduce energy costs," said Ivan Maluski of the Sierra Club.  "That's why he has worked to develop new energy sources, like wind, water and solar. Ben Westlund has helped businesses and families generate their own power."

In 1999, Senator Westlund helped establish the Energy Trust of Oregon, which is dedicated to renewable energy production and energy efficiency in homes and businesses by investing in efficient technologies and renewable resources that save dollars and protect the environment.

As a proponent of alternative energy, Senator Westlund was instrumental in expanding the solar energy tax credit during the 2005 session. The bill passed with overwhelming bipartisan support.

In 2007, Westlund helped pass a renewable portfolio standard (RPS) that will require the largest power suppliers in Oregon to provide 25 percent of their retail sales of electricity from renewable sources of energy by 2025.

Yamhill Valley News Register says 'Ben Westlund for State Treasurer'

Along with our endorsement of Ben Westlund for state treasurer, he has received the endorsement of Oregon's Democratic and Independent parties and, at one time, that of the Republican Party as well. Of course, the Republican endorsement was before Lake Oswego businessman Allen Alley entered the race, but several high profile Rs are sticking with Westlund, including former Secretary of State Norma Paulus, current legislators Patti Smith and Gary George, and former legislators Lane Shetterly and Lenn Hannon, among others.

The state treasurer hires and monitors the professional financial managers who invest money in Oregon's pension fund. The treasurer is responsible for coordinating and selling state bonds, and meets with Wall Street rating agencies about Oregon's credit worthiness. But it's also a political position because the treasurer works with the Legislature to help set fiscal and investment policy. Westlund supports investment in new energy sources like wind, wave and solar. He voted to reduce the interest rate school districts pay, saving taxpayers millions of dollars.

Westlund Garners Key Endorsement of Congressman DeFazio

Shared Focus on helping Main Street and holding Wall Street accountable

October 9, 2008 -- (BEND, OR) - Oregon State Senator Ben Westlund (D-Bend) has received the endorsement of Congressman Peter DeFazio in his bid for State Treasurer.  This endorsement is the latest in a string of respected Oregonians who are backing Westlund's candidacy.

"Ben has an independent outlook and the right priorities to help Oregonians through these tough economic times.  He will fight for Main Street and help us reign in Wall Street," said DeFazio.  DeFazio was first elected to the U.S. Congress in 1986. He is dean of the Oregon House delegation, and represents southwest Oregon from Albany in the north all the way to the California border, from the west coast to the Cascade Mountains.

Westlund has a strong record of protecting Oregonians from fraud and holding predatory lenders accountable.  In 2007, he supported efforts to end predatory payday loans.  Early in 2008, Westlund led the fight against fraudulent and abusive home lending practices to protect home buyers by identifying and policing irresponsible loan originators and revoking the registration of repeat offenders.

Westlund helped set strict standards for safeguarding personal information and required notification to consumers if there is a breach of security that may result in a disclosure of personal information. He helped get consumers the right to request a security freeze to provide protection against an identity thief obtaining credit in their name.

Allen Alley's NEGATIVE political ad full of misrepresentations

(September 30, 2008)- Salem, OR-- Oregon Democratic and Independent nominee for State Treasurer Ben Westlund has released an online video correcting several misleading statements in his opponent's first television ad.

"If Mr. Alley insists on misrepresenting his record to voters, it's our responsibility to set the record straight, so voters can make an informed choice based on the facts." says Stacey Dycus, Westlund's campaign manager.

In the video, posted on YouTube hours after Allen Alley's ad first aired on television, the ad is run normally while a "fact check" is superimposed after each claim.

In one instance after Alley claims to have created jobs, the fact check notes that "Allen did create jobs: 90% outside of Oregon and mostly in China."

"Mr. Alley has made his entire campaign about half-truths and out-of-context claims," says Dycus.  "The idea that a Bush-appointed Wall Street CEO is going to bring change to our economic system and fight for middle class families is laughable.  Allen Alley is more of the same, and wrong for Oregon."

The video can be found on YouTube at: http://www.youtube.com/watch?v=tqK-tzYmNVo

Oregon REALTORSR Endorse Westlund

Focus on the Economy Cited

(September 25, 2008) - Salem, OR - Oregon Senator and Democratic and Independent nominee for State Treasurer Ben Westlund (D-Bend) received the endorsement of the Oregon Association of REALTORSR this week.

"In his tenure as a legislator, Ben Westlund has cultivated a strong reputation as a champion on issues significant to the real estate market, said Jana Jarvis, Vice President of Public Policy for the Oregon Association of REALTORSR. "With his experience, Ben will continue to help promote homeownership, pursue new development opportunities and protect private property rights."

As the chief budget-writer for the Oregon House, Westlund provided steady leadership through Oregon's toughest recession of 2001-2003 when state revenues plummeted 22%. "The current economic forecast illustrates that when times are tough, sound fiscal management of our public finances is necessary," said Westlund. "As State Treasurer, I will use my past experiences to bring the stability necessary to get the economy energized and back on track to benefit Oregon's middle-class families."

Westlund launches re-designed website

Featuring Web Videos Focusing on Westlund's Priorities

(September 23, 2008) - Portland, OR - The campaign of Oregon Senator and Democratic and Independent nominee for State Treasurer Ben Westlund (D-Bend) launched a re-designed website this week at www.benwestlund.com featuring web videos from people who know and have worked with him on his priorities of making health care affordable, investing in renewable energy, public safety, fiscal responsibility and quality eduaction. 

"Ben shares the priorities of Oregon families and I know he has what it takes to make the financial decisions that will move Oregon and Oregon's families into the future," said Representative Sara Gelser (D-Corvallis) who has a featured clip on the home page and on the education priority page.

The Fiscal Responsibility priority page features Bend businessman Mike Hollern. "He's been fiscally responsible, he understands finance, he's a businessman," said Hollern in the video. "I think he'll be very effective."

Other people featured are Doctor Senator Alan Bates (D-Ashland) on the Meet Ben page, consumer health care advocate Maribeth Healey of Clackamas on the priority page for affordable health care, senior advocate Phyllis Rand of Salem, and Liz Cruthers of Woodburn on the public safety priority page.

WESTLUND ENDORSED BY OREGON CREDIT UNIONS

Candidate for State Treasurer Plans Financial Literacy Programs

(September 11, 2008) Portland, Ore. - Oregon Senator and Democratic and Independent nominee for State Treasurer Ben Westlund (D-Bend) received the endorsement of the Credit Union Association of Oregon (CUAO) last week.

"As a legislator, Ben Westlund built relationships across the aisle to improve the lives of Oregonians." said Pamela Leavitt, Senior Vice President of Governmental Affairs and Public Relations of the Credit Union Association of Oregon. "As a State Treasurer, we trust him to have the right priorities to move Oregon forward." 

As an Oregon State Senator, Ben Westlund worked with credit unions on comprehensive identity theft legislations that would protect the personal information of Oregonians and notify consumers of a breach of data security.  He also is committed to leading the state's efforts in promoting financial education -- one of the top priorities for Oregon's credit unions. 

"Millions of Americans are headed for rocky waters as credit debt hits record highs at the very same time that personal savings rates are hitting record lows.  This is not only a recipe for financial disaster on a very personal level, but also one with serious national consequences," said Mark Turnham, President/CEO of NW Priority Credit Union in Portland.  "Financial education in schools has never been needed more in our society than now and as the State Treasurer, Ben will work with Oregon's credit unions to make this issue a top priority in our state."