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TUESDAY, OCTOBER 31, 2006
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EDITORIAL

Kay Ivey earns second term as state treasurer

Voters should have a reason for rejecting an incumbent office holder.

Democrat Steve Segrest, 57, of Montgomery offers none. While he enjoys a good reputation and is likeable, that isn't enough reason to vote for him over incumbent treasurer Kay Ivey, 62, also of Montgomery. She's done a good job.

In addition to years in banking, Ms. Ivey's professional background is in state government, which she calls on to help her successfully handle the thorny task of managing the state's money.

The primary function of the office is to receive, deposit and invest state funds. The cash management division takes in an average of $112 million daily and invests about $3 billion in state banks daily.

Mr. Segrest thinks treasurer candidates should not take campaign contributions from banks. Yet, there is no outcry that Ms. Ivey isn't fair in depositing money.

He also says that the Prepaid Affordable College Tuition plan has problems, with a deficit of more than $70 million. But most such programs hit a rough spot when the stock market nose-dived after 9/11. Ms. Ivey says the program went from 90 percent funded to 91 percent from 20004 to 2005.

THE DAILY recommends re-election of Kay Ivey as state treasurer in the Nov. 7 general election.

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