MDN.ORG:
Missouri Digital News
MDN.ORG
Mo. Digital News
Missouri Digital News
MDN.ORG:
Mo. Digital News
MDN.ORG:
Missouri Digital News
MDN.ORG:
Missouri Digital News
MDN.ORG
Mo. Digital News
Missouri Digital News
MDN.ORG:
Mo. Digital News
MDN.ORG:
Missouri Digital News
JEFFERSON CITY - For a generally low-profile statewide office, a short list of past state treasurers boasts some pretty high-profile political names.
The office has become somewhat of a political stepping stone. Three of the last four treasurers went on to higher political office. Mel Carnahan and Bob Holden became Missouri governors and Wendell Bailey was elected to the US Congress.
Current State Treasurer Nancy Farmer is on the Nov. 2 ballot challenging Republican incumbent Kit Bond for US Senate.
This year's treasurer's race pits Republican State Senator Sarah Steelman against Democrat and Arnold Mayor Mark Powell.
Both Steelman and Powell said potential political advancement is not the reason they're running for treasurer.
"I'm not running to become the next governor of Missouri," Powell said. "I'm running because I want to be the state treasurer."
Steelman too said she is not using the office as a political stepping stone.
"I'm running for office to be state treasurer because I want to make some changes in that office," Steelman said.
Steelman said she wants to invest more money in Missouri banks, a move that would require some regulatory changes.
"As my teenage kid would tell me, its a no brainer to me to bring the money home and keep it here," Steelman said.
Powell said because of technicalities in the law, the issue is more complicated.
"We just simply cannot overnight take $3 billion, cash in our securities and put it in banks because the banks won't take it because they don't have the collateral," Powell said.
Powell also said Missouri's current investments in U.S. Treasury and government agency securities are very safe and secure investments.
The treasurer office is responsible for managing the state's $3 billion investment portfolio.
Both candidates said their past experiences in economics qualifies them for the treasurer's office.
Powell worked as a banker for 24 years and has been running his own investment firm for the past eight years. Steelman earned a M.A. in economics from the University of Missouri-Columbia and worked as an economist for the state Revenue Department during the Bond administration.
Steelman has one advantage that Powell acknowledges he lacks -- name recognition.
Steelmnan sponsored in the legislature the gay-marriage ban that Missouri voters overwhelmingly approved in August.
Steelman said her experience in the legislature as Rolla's Senator will help in the treasurer's office.
"Since I've been there, I know the people and I know what it takes to get a bill passed," Steelman said.
The Steelman name also carries weight in Missouri Republican politics. Her husband David was, before their marriage, GOP leader in the Missouri House and later narrowly lost his race for attorney general in 1992 against Jay Nixon. Her father-in-law Dorman Steelman also served in the Missouri House.
According to mid-October reports on file with the Missouri Ethics Commission, Steelman also has nearly a seven-fold lead over Powell in fund-raising. Steelman reports raising $784,891 compared to Powell's $120,333.
But Powell said he is used to being the underdog.
Powell defeated better funded opponents in the Democratic primary using a strategy he said he hopes will carry him to victory in the general election.
Powell's campaign strategy is simple -- visit as many places and shake as many hands as possible.
Powell and his wife Pam have logged more than 42,000 miles on a mini-van he purchased for the sole purpose of touring the state.
"I feel very comfortable saying I've probably shaken 50,000 to 75,000 hands in the last 18 months easily," Powell said.
The campaign provides Powell and longtime friend and campaign manager Phil Amato with stories to tell while on the trail.
Amato said sometimes Powell will drive rural roads while crisscrossing the state. If he sees a Claire McCaskill sign or sees a good place for one of his own signs, he'll knock on the door and introduce himself and ask if he can put up a sign.
"I get some of the strangest looks," Powell said.
Powell also said he is trying to get some name recognition with 12 billboards he had placed on major interstate highways in heavy traffic locations.
Despite different financial situations and campaign strategies, both candidates said they are expecting a competitive race.
Sarah Steelman
PERSONAL: Married to attorney David L. Steelman. They have three children: Sam, 17, Joe, 15, and Michael, 9 as well as Amanda, David Steelman's daughter from a prior marriage.
EDUCATION: Bachelor's degree, History, University of Missouri, Columbia; Master's degree, Economics, University of Missouri, Columbia.
OCCUPATION: Until 2000, Steelman was investment banker in Rolla. Steelman worked as an economist for the Department of Revenue. She was the Deputy Director of the Geology and Land Survey Division in the Natural Resources Department from 1988 to 1993.
CIVIC ACTIVITIES: Active in CORE (Champions of Rolla Education). Member of the Chamber of Commerce and the St. Patrick's School and Home Association and coached soccer. She is a member of the First Christian Church of Rolla. Steelman served as Executive Director of the Big Brothers and Big Sisters Program in Rolla.
Mark Powell
PERSONAL: Married to Pamela Pennington Powell. They have two adult daughters, Kristine Malarney and Kathryn Huber.
EDUCATION: Bachelor's degree, Accounting, Southwest Missouri State University.
OCCUPATION: Since 1996 Powell has been the owner of Mark G. Powell Investments. For twenty years from 1976 to 1996 Powell served as Vice President for Commerce Bank of St. Louis, Arnold Branch. Upon graduation from Southwest Missouri State University in 1972, Powell started working for UMB Bank, Arnold Branch.
CIVIC ACTIVITIES: Powell served eight years on the school board and was a board member of the Jefferson County Industrial Development Authority. He is the past president of the Arnold Rotary Club. Powell also was a volunteer for the Boy Scouts of America.
ISSUES:
Both candidates want the state treasurer to calculate state revenue estimates, something that is currently done by the governor's budget office.
Both candidates want to extend tax breaks for college savings plans to other state programs.
Steelman supports taking money from out of state investments and investing it in Missouri banks. Steelman said this would be good for the state's economy and would create more jobs. Steelman said this would require some legislative changes.
Powell said Missouri currently invests in U.S. Treasury and government agency securities that are very safe and solid investments. Powell said there is a technical issue that needs to be addressed first. He said Missouri banks can't accept the money unless we change security laws.