Friday, October 08, 2010

Oregon Governor's Race is all about the $$$ and the Republicans want it all

Seems like only yesterday that Gordon Smith was sent packin, but the Republicans are back with a vengeance, sporting a basket ball player that has heavy ties with the corporate government.
Dudley Do Right already owns expensive property in Lake Oswego and with his lucrative ties to the financial industry, has dreams of increasing his holdings there. Seems to me that, in these critical times, we need someone who will represent the people instead of the corporations, like, someone who will restore a little free enterprise on the grass roots level...G:

This from

Stimson Lumber Company, which donated $75,000 to fighting last year’s tax increase measures, is a top contributor to Chris Dudley with $50,000 on the table to back him to date.

Other top Dudley backers include S & G Properties ($112,000), Austin Industries ($100,000), Phil Knight ($100,000), Daniel Fegan ($100,000), Steve Shepard ($60,353), Lawrence Wilson ($50,000), Oregon Health Care Association ($50,000), Greg Roderick ($28,550), American Industries ($25,000), Don Harmon ($23,000), Peter Brix ($21,000), and Natural Gas Pac ($10,000) [I guess someone wants their pipeline].

Loans by Oregon governor hopeful Chris Dudley give peek at his business world

Published: Monday, October 04, 2010

Jeff Manning, The Oregonian

Given the recession and state budget hemorrhage, Oregon's governor race was always going to be about money. But as Nov. 2 nears, some focus has spun away from government programs to the candidates' personal finances.

Republican candidate Chris Dudley ran a television ad in heavy rotation this weekend criticizing his Democratic opponent, former Gov. John Kitzhaber, for nominating Jerry Bidwell to the Oregon Investment Council in 2002, two years after Kitzhaber borrowed more than $300,000 from Bidwell's brokerage to buy a home on Portland's Sylvan Hill.                                                                                 Tesoros De Oswego

Public records show that Dudley, too, has an active record of financial dealings, though more often as a lender. Those loans aren't likely to offer much political ammunition for the Kitzhaber campaign, but they do offer a glimpse into Dudley's considerable financial means and the rarefied social and business circles in which he operates.

Dudley's business partners include some of Portland's wealthiest power brokers. And many have thrown their clout behind his bid for governor, donating both time and money.

The largest of the Dudley loans was a $3.7 million mortgage a Dudley company extended to Lake Oswego athletic footwear entrepreneur Jerry Stubblefield in June 2009.

Stubblefield earned tens of millions of dollars when he sold Avia to Reebok in the late 1980s. He subsequently bought the historic Jantzen estate on an island in Lake Oswego in the early 1990s.

By February 2009, he was in default on his mortgage from Access Business Finance LLC to the tune of more than $2.5 million, according to Clackamas County property records. Access intended to foreclose and sell the property at 1850 N. Shore Road on the steps of the Clackamas County Courthouse on July 7.

On June 3, 2009, Dudley stepped in. A company he had formed weeks before, Tesoros de Oswego, extended to Stubblefield a short-term, 18-month loan. Shortly thereafter, Stubblefield paid Access the money he owed.

If Stubblefield fails to repay the loan in full by Dec. 1, Tesoros De Oswego -- which means "treasures of Oswego" in Spanish -- has the right to foreclose and take possession of the property, according to the trust deed signed by Stubblefield. That presents the intriguing possibility of a governor-elect foreclosing on what is said to be the most valuable private home in the state.

Stubblefield, who could not be reached for comment, has put the property on the market. He is asking for $15 million, down from the initial price of $19 million, according to Lake Oswego Realtor Justin Harnish.

Stubblefield contributed $1,000 to Dudley's campaign and in August hosted a $10,000-per-person fundraiser at his Lake Oswego estate.



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