DEVELOPER HAS KNOWN FRUSTRATION
Profile: A business-friendly environment tops Poliquin’s agenda
The Georgetown Republican is described as a decisive leader.
By Matt Wickenheiser mwickenheiser@mainetoday.com
Staff Writer
GEORGETOWN — Bruce Poliquin’s first job after he graduated from Harvard with an economics degree was with Harris Bank in Chicago. His annual pay was $11,000.
Republican gubernatorial candidate Bruce Poliquin says he learned early what businesses need to succeed.
Gordon Chibroski/Staff Photographer
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BRUCE POLIQUIN
BORN: Nov. 1, 1953
FAMILY: One son
OCCUPATION: Business owner and manager
EDUCATION: Bachelor’s degree in economics, Harvard
PUBLIC OFFICE EXPERIENCE: None
CANDIDATES FOR GOVERNOR
THIS IS THE 11th in a series profiling the candidates for governor. Bruce Poliquin will chat with readers live at noon today at pressherald.com.
See our
special section on the governor's race at:
http://www.pressherald.com/home/governor/
Governors_Race.html
What the job lacked in pay – even in 1976 dollars – it made up for in experience, said Poliquin. He worked for a trust division of the bank, and part of his job was talking to small-business owners in the Midwest about investing their pension funds.
Slaughterhouses, tool and die shops, electroplating businesses, carburetor manufacturers – Poliquin met with the owners, toured the operations and learned what made the businesses successful.
“It was a tremendous learning experience on not only how good businesses are managed, but what’s an environment that creates an opportunity for a business to succeed,” said Poliquin. “Businesses are most successful when they’re in a regulatory environment, in a cost structure, where they can be successful. That’s why Maine has such a horrible economy, and why our kids are leaving.”
Poliquin, of Georgetown, is running for governor in the Republican primary. As he campaigns in a field against six other GOP candidates, he hits relentlessly on recurring themes.
He stresses his management experience as an investment banker who analyzed companies and pension funds, contending that’s what Maine needs in a governor.
He talks about the state’s poor business environment, and how he would address it. And he raises his work with Maine youths, and the need to create jobs here so graduates can stay here, or return home if they wish.
He has no political experience, but that’s common in this year’s Republican primary. He sometimes sticks to his campaign’s talking points to the level where, in debates and forums, he doesn’t answer questions.
He has funded much of his campaign, contributing more than $550,000 to a total of $860,000, according to the latest state records.
“Putting my own money in is the right thing to do,” he said. “Any enterprise I’ve ever gotten involved with, I’ve had a commitment to it.”
People who have worked with him and know him describe a straightforward man who absorbs information and then acts.
“He’s a real straight shooter. Basically, when he says he’s going to do something, it gets done,” said John Moody, the construction manager who is working on Poliquin’s housing development in Phippsburg, Popham Woods.
Moody said Poliquin didn’t have much experience in construction when he first talked to Moody about working on the project. Poliquin asked for advice, listened and took in the information, Moody said.
Julie Moss of Yarmouth served on North Yarmouth Academy’s board of directors with Poliquin for about eight years, and he was president of the board for four of them.
“The thing that struck me the most was that he was very solicitive of everybody’s opinion, he wanted everyone’s input before he made a decision,” said Moss. “But once he made a decision, he made it. He was sure of himself, but very respectful of everybody on the board, and wanted them to feel part of the process.”
Poliquin grew up in Waterville. His mother was a nurse and his father was a teacher. His father held other jobs at the same time, refereeing basketball, umpiring baseball, running lobster pounds, renting beach cottages.
The family often talked about business ideas and plans, said Poliquin, and he was encouraged early on to work.
During winter, he would help shovel out people who had to get to work. He cut lawns in the summer, and saved enough money to buy his own metallic green stingray bike, with a banana seat.
When he was young, he became interested in going to Harvard.
On the advice of a guidance counselor, he and his family looked into boarding schools. Poliquin got into Phillips Academy in Andover, Mass., and supplemented his scholarship to the school by working in the library and washing windows for faculty members.
He went to Harvard on a scholarship, worked in the dining hall busing tables on Sunday mornings, and cleaned an office building in Brattle Square.
For job interviews, he borrowed a suit from his roommate. His father mailed him the dress shoes he had worn at his wedding 40 years before.
Poliquin took the job with Harris Bank, spent a few years there and then took a job in New York City with a consulting firm that evaluated corporate pension funds and matched them with investment companies to manage the money.
In 1981, he joined a small investment management firm called Avatar Associates. The firm was managing about $35 million of other people’s money, said Poliquin. When he left in 1996, he was the company’s third-largest stockholder and a managing partner, and the company was managing $5 billion.
In New York at the same time was Jane Carpenter, a Waterville native and a good friend whom he had dated off and on over the years.
She was working at the Brooklyn Museum’s lab in art restoration. Their time in New York overlapped for about five years, and the relationship became serious.
They got married in Phippsburg in 1989, 17 years after they met. The couple moved back to Maine, and Poliquin traveled back and forth to New York, still running Avatar with his partners. After their son, Sam, was born, Poliquin worked more and more from home.
In early 1992, Jane and her father drowned during a family vacation. Sam was 16 months old. Poliquin spent the next half-year making sure Sam was well and safe, and figuring out how to be a single parent, with help from his family.
Poliquin worked with Avatar for a few more years, with his mother and father watching Sam overnight when he made quick trips to New York.
He invested in small companies in Maine, from software firms to a bookstore. About five years ago, he started a real estate firm, Dirigo Holdings. “It was a way I could do something different and manage a process with different parts,” he said.
One of his projects was the ill-fated Stinson Seafood cannery redevelopment in Bath, which Poliquin wanted to make into a marina and condo complex.
The city never approved rezoning for the project, and an arsonist torched the property.
In the Popham Woods project, he said, he was told late in the process by state regulators that he would have to change the plans because of wetlands, adding a full year to the process of obtaining permits.
It’s a combination of experiencing such frustrations and knowing kids who want to return to Maine but don’t have jobs that spurred him to run for governor, said Poliquin.
While campaigning, Poliquin pushes the need to restructure the state’s permitting process and streamline government in general.
He opposes borrowing to supplement programs, would institute ways to measure the performance of government programs, and would hire professional managers to run departments, if elected.
“We need someone who’s got guts. Someone who’s not worried about the next election,” said Poliquin. “Someone who is a manager, who’s been successful with financial dealings, someone who understands the problems, someone who can lead this state and rally the forces, whether it be the populace or the Legislature, to do the right thing and fix this.”
Staff Writer Matt Wickenheiser can be contacted at 791-6316 or at: mwickenheiser@pressherald.com
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42 COMMENTS
louisH2Ovill said...
OK, elite prep school and Harvard and bank executive and investment advisor! I cannot think of a rich guy more out-of-touch with the problems of the working people of Maine. I would NEVER vote to have a banker making economic policies for the state. Bankers have a very small-minded economic attitude that will never generate economic growth! He wants us to pay higher taxes with his opposition to the tax reform, which the Wall Street Journal and the state Chamber of Commerce endorse as good for business. But Poliquin's banker's approach is too narrow to see that bigger picture!
May 25, 2010 at 2:59 AM Report abuse
boxcarwillie said...
Bruce Polquin is one of the finest people I have ever met. I agree with him about Maine being anti business. Things need to "CHANGE" and I feel Bruce is just the man who can do it. Given the past track record of our elected reps, actions speak louder than words and I do not like what I've been seeing. I'm done voting for anyone who runs and has never worked in the private sector. I'm done voting for career politicians. Anyone who votes for an incumbent is just asking for more of the same. I've had enough! That's why it's Bruce4Me!
May 25, 2010 at 7:09 AM Report abuse
mainelifer said...
Maine, if you do what you've always done, you'll get what you always got. It's time for big, big changes. "Rich guy out-of-touch with the problems of the working people of Maine?" I don't think so. Maybe more like highly intelligent guy who did well and who can fix Maine's problems so that the working people can actually get jobs and do better.
May 25, 2010 at 7:33 AM Report abuse
carson12 said...
Bruce Poliquin came from humble origins in Waterville, but I'm not sure why he should be criticized for success. He has the vision to get Maine working again, and the work ethic to make it happen. I think Poliquin is the best candidate for governor Maine has had in decades.
May 25, 2010 at 7:37 AM Report abuse
Sam said...
According to the inflation calculator site I checked the $11k he got as a totally green college grad in 1976 is equivalent to about $41k now. Why would he whine about that kind of pay? The only other comment I have about this guy is: WHO??? His inability to get his name out there should be of great concern to anyone thinking of running him against a big name Democrat who is already well known.
May 25, 2010 at 7:43 AM Report abuse
gotogoal said...
Bruce was head of the trustees at North Yarmouth Academy for several years. How often did they increase tuition each year when Bruce was on the board? He says he'll control spending in Augusta....he couldn't control spending at little NYA. NYA is now saddled with high mortgage costs for the building expansion during Bruce's oversight..... Did Bruce use countrywide averages to set the budgets at NYA? If we have tax increases in Maine the way they increase tuition at NYA.....we'll all go broke. Bruce talks a great story...but behind the curtain lies a different reality. He's trained as investment banker....thinks like Goldman Sachs (elitists). The last thing I want are more bankers running our government. Investment banker = sound public policy.. What's wrong with this picture!
May 25, 2010 at 7:47 AM Report abuse
Iwatch said...
Gosh!! Business friendly. This is a new idea for Maine. It just might even work.
May 25, 2010 at 8:08 AM Report abuse
MSH said...
Business friendly = town/city bends over backwards to give buzzy business person (Wal Mart Types) tax exemptions so he will create "jobs" and then he fails to do so, destroys local businesses, makes a quick "pile" and LEAVES.......the town/city holding their "bags".....
May 25, 2010 at 8:17 AM Report abuse
Jackemy said...
louisH@Ovill, Have you looked at who runs the Maine Chamber? Can you expand you small-minded economic attitude to understand the relationship between big-business, big government and this tax reform? Do you really get what the economic consquences are that this tax reform will have on small-business and the majority of jobs in this state which are created by small business? I know you didn't go to Harvard or anything, but just follow the money and you'll figure it out on your own.
May 25, 2010 at 8:19 AM Report abuse
boxcarwillie said...
Ever wonder how many of these comments are written by campagn workers for other candidates? just a thought.
May 25, 2010 at 8:42 AM Report abuse
trisailer said...
MSH is right, business know that there is pressure to attract them to cities and towns and they are asking for all kinds of breaks with no commitment. Most of these town would be better off just paying people unemployment and let them go fishing. Business people do not make the best politicians because the rules are completely different. I wouldn't trust a harvard banker to park my car.
May 25, 2010 at 9:10 AM Report abuse
louisH2Ovill said...
Jackemy said, "I know you didn't go to Harvard or anything", but I did go to Harvard AND Yale, and I doubt that Jackemy did or that he studied any economics or business at a leading institution. I studied and taught economics and business. Yes, I think the Wall Street Journal does understand the interests of the business community as does the Chamber of Commerce. I don't think Jackemy or Poliquin understand how to use economic and fiscal policy to generate business development.
May 25, 2010 at 9:47 AM Report abuse
louisH2Ovill said...
I suppose the very wealthy Bruce Poliquin is in that very small 5% of Mainers who will NOT be better off under the tax reform, but the other 95% of us will. So hopefully, most Mainers will gain and vote for a more stable, fairer, and reasonable taxation system established by the reform AND gain several hundred dollars in lower taxes in the process!
May 25, 2010 at 10:13 AM Report abuse
Ayuh23 said...
Interesting that Mr Poliquin and another candidate (can't remember who, sorry) have both run into regulatory snags during construction. Rather than find a way to work with the regulations, they are running for governor in order to change (read: eliminate)the regulations. Is it easier or does it cost less to run for office? I hate it when the rules get in the way of my good time, but I still have to follow them.
May 25, 2010 at 10:30 AM Report abuse
RotundaBoy said...
Want to know what's wrong with Maine??? TOO MANY PEOPLE whine and cry about somebody else who has money. PURE & SIMPLE. People griping that Mr. Poliquin got a top education and earned some big bucks, then he moved home... have got it all wrong!!! MAINE is stupid to chase away wealth and wealth-creators. It's why the business climate sucks and why most people with money are long gone!!! The point is, Maine folks: DON'T HATE THE RICH!!! .....Look at it this way: Have you ever been hired by a poor person? . . . . PLEASE, get a clue about this! If there are no rich people, there are only poor people without a chance to move up. GOT IT???
May 25, 2010 at 12:55 PM Report abuse
RotundaBoy said...
Hey Sam - don't be such an idiot! $41,000 a year in CHICAGO is nothing! That kind of pay is like a volunteer job in Chicago. Mainers need to cross the borders now and then to see how the rest of the country really lives (then you'd stop re-electing all these silly Democrats!) . . . . . QUESTION: "The Poor" have voted straight-ticket Democrat for 75 or 80 years now... and they're still Poor. . . . . . . How's that been working out for you????
May 25, 2010 at 1:01 PM Report abuse
louisH2Ovill said...
RotundOne, no, it is a question of an arrogant, rich businessman, who has no public service experience pretending that what is in HIS best interest will benefit the rest of us in Maine.
May 25, 2010 at 1:09 PM Report abuse
MainelyRight said...
I can't believe the number of anti-business comments posted here. Out-of-touch, business-as-usual thinking is going to keep this state down. It is time for a business approach in Augusta...goodness knows the professional pols have made a muck of it. Bruce, I've heard you speak, and I like what I've heard. You have my vote.
May 25, 2010 at 1:15 PM Report abuse
DavyJones said...
If Rebublicans are so interested in smaller government, then why are there so many of them running?
May 25, 2010 at 1:18 PM Report abuse
brightOne said...
Now that the dust is settled – we are able to see clearly the brilliance and wisdom of the Bush W “leadership”!!! In addition to a solid economy; world-wide, we are also safer…what else could anyone ask for?
May 25, 2010 at 1:19 PM Report abuse
Hutch said...
louisH2Oville do you have something against individuals that are successful and made money the old fashion way, "hard work", ie Bruce Poliquin, unlike 1/3 of our state population that earn their living from Maine Care, a never ending entitlement. Bruce Poliquin is a Maine native and is successful. I've know him since 1990 and he is truly the only candidate that has proven managerial, negotiating and fiscal experience necessary to govern this state. His plan is spot on over the other candidates and most of them claim to only say "they will create jobs". The only jobs government creates is government jobs. Bruce will knock down the existing barriers so business will relocate or expand in Maine
May 25, 2010 at 2:04 PM Report abuse
louisH2Ovill said...
No, Hutch, I have nothing against prosperous, successful busniessmen. I encourage them to invest in Maine and create jobs and bring new technology to Maine. I especially oppose the state regulation of investment in medicine in Maine and advocate the abolition of CONs [Certificate of Need] and and end of any state control over investment in medicine. But I believe, like the Wall Street Journal and the Chamber of Commerce that the tax reform is beneficial--in contrast to Bruce!
May 25, 2010 at 2:34 PM Report abuse
louisH2Ovill said...
And Hutch, I believe we need more competiton in health insurance and that the next governor should take advantage of the opportunity in the new health care reform to advocate and work for a region-wide exchange--New England-wide or NorthEast-wide-as opposed to a state-exchange.
May 25, 2010 at 2:36 PM Report abuse
louisH2Ovill said...
And Hutch, I believe we need more competiton in health insurance and that the next governor should take advantage of the opportunity in the new health care reform to advocate and work for a region-wide exchange--New England-wide or NorthEast-wide-as opposed to a state-exchange.
May 25, 2010 at 2:36 PM Report abuse
louisH2Ovill said...
But Hutch, to me support for lower taxes now via the tax reform is a no-brainer and I do not see Bruce Poliquin with any fiscal experience or any ability to bring fairer and lower taxes within a year by contrast!
May 25, 2010 at 2:39 PM Report abuse
Hutch said...
LouisH2Oville Do you know the difference between a banker and a asset manager? Bruce is not a wall st banker. If you have a chance talk to Bruce about his plan about lower taxes. It was never his plan to lower taxes day 1 of his govenorship. This state is out of money and is very close to insolvency. As he has said he would audit all departments and see what works and does not and cut unnecessary spending, ie Dirigo Health. That's how a business person thinks. You manage what you measure. So whom are you supporting?
May 25, 2010 at 3:00 PM Report abuse
louisH2Ovill said...
Exactly, Hutch, Poliquin has some vague plan and intention to lower some taxes sometime in the future--certainly NOT something he can do within a year. On the other hand, we would be paying lower taxes for the past 6 months under the tax reform and we will get an immediate tax cut if we save the tax reform in 2 weeks. As I said, if he were really for lower taxes, he would oppose the repeal of the tax reform. But he prefers we pay higher taxes until he can manage something in the future--a fairly distant future given his political skills--I mean his lack of political skills!
May 25, 2010 at 3:44 PM Report abuse
Chris said...
Bruce Poliquin’s is a big backer of the Taxpayer Bill of Rights, which was Question 4 in the Nov. 2009 ballot. The Bill of Rights is so extreme that it was defeated by a 2-1 margin and Bruce Poliquin would likely be defeated by about the same margin in the general election. The Democrats absolutely don't want anything to do with the Taxpayer Bill of Rights or the Maine Heritage Policy Center, of which Poliquin is a big supporter. Steve Abbot on the other hand has been working closely with members of Congress and their staffs for the last 12 years, so he's probably the safest bet of the Republican candidates. GO STEVE!
May 25, 2010 at 4:09 PM Report abuse
pphreader said...
whining about Poliquin's education and money...hmmm.don't they usually reserve that for the President? Dems will win the Blaine House in Nov.
May 25, 2010 at 4:29 PM Report abuse
mainelifer said...
Can someone here tell me what positive economic changes a Maine governor has made in the last 30 years? List them please. If you do what you always do, you get what you always got. Time for a change. Poliquin is the least "arrogant" person I know. (that criticism from some commenter above is just not true) He has a lot of patience (so needed for Maine politics), listens to others, and comes back to his Maine home with superior credentials and leadership. Get to know this man.
May 25, 2010 at 6:28 PM Report abuse
LarrySellers said...
LMAO....Louis, you sound like you work for the McGowan campaign! Your comments are just the same old thing we've been hearing for the last 20 freakin years! We're still a poor state and the privileged Democrat party folks, such as yourself that brag about attending Harvard and Yale, have given us nothing but an ABYSMAL economy. Your only suggestion is more taxes! Your tired, old ideas are just that: tired, old, and PROVEN ineffective. Everyone knows it and now it's time to vote for REAL change. No matter what you say, Poliquin represents something different and offers a new alternative. All you do is offer the status quo and more of the same. Have fun attacking my thoughts, as that's about all you got; useless attacks that are typical from folks of your character... we know. Actually, I can't wait to read you getting all worked up like you have with others above.....LMAO
May 25, 2010 at 6:35 PM Report abuse
David said...
What a bunch of whiners. We have a number of great candidates running for Governor. What a great thing. As long as we stay away from the apparatchiks like Libby Mitchell, Pat McGowan, Steve Rowe, and Steve Abbot, we should do just fine. Right now, I'm torn between Rosa Scarcelli and Peter Mills, but just about anyone would be an improvement over our current absentee landlord.
May 25, 2010 at 7:42 PM Report abuse
crackhead said...
This IS Maine! Jobs are never going to come here lets be honest. The only thing we can do is cut spending. The welfare entitlements and frivolous spending on idiotic do gooder social programs by our state government is out of control. Dirigo is out of control.
May 25, 2010 at 7:48 PM Report abuse
FrankieFrank said...
Phillips Andover. Harvard. But somehow a man of the people because he toured some factories in the Midwest in the 70s. People: an investment banker / investment advisor / consultant brings ZERO management experience to the game. This guy has never had to meet a payroll or manage people or make decisions. Being an ADVISOR is just what we DON'T need. These EGO driven campaigns (see Otten; see Scarcelli; see Poliquin) from bored people surrounded by fawning suckups are almost laughable. Rather than continue to run to "help" us poor Mainers with your brilliance, why don't you go out and really run a company...not bankrupt one, not inherit your mom's company and call it your own, not in real estate. Go run something and then come back and tell us how you can help.
May 25, 2010 at 8:21 PM Report abuse
FrankieFrank said...
And one more comment for Hutch, who is obviously a backer here: please don't tell me that Poliquin is going to go in there and "audit all departments and see what works" and figure everything out. Dude - the first Budget is due 37 days after the new Governor takes office. With all due respect, this state can't afford to hire someone to learn on the job. If you need to "study" then go do it on your own time. This is the classic ego response: trust me, I'm well eductated...I'm going to figure out something that every person in government has looked at but has somehow missed. I'm so smart I'm just going to take a year and hire consultants, and we're just going to figure it all out, you just watch. Sounds like Ross Perot.
May 25, 2010 at 8:27 PM Report abuse
null said...
Can the guy talk to an avg. person? I dont think so !! We dont need anymore rich 1 percent type people that are out of touch being the Governor of Maine. I dont see this republican makeing the grade.
May 25, 2010 at 10:22 PM Report abuse
LarrySellers said...
LMAO...Frankie = Louis....Hi Louis! Have fun voting for McGowan, Libby, or whoever it is you work for...LMAO!
May 25, 2010 at 10:39 PM Report abuse
Hutch said...
Chris, I find it interesting that you claim Poliquin and The Maine Heritage Foundations backing of Tabor was so extreme, however The State of Colorado has had Tabor for a number of years and guess what they have the 20 largest economy in the US, per capita income is 8th in the nation, income tax is 4.63% and state tax on retail sales is 2.9% I guess that would not interest you. And remember Steve Abbot was Collins chief of staff when Collins voted for the Stimulus package and how many jobs did that bring to Maine? He is just another Washington insider!!
May 25, 2010 at 10:56 PM Report abuse
carson12 said...
FrankieFrank must support the career politician Peter (pretend not to be a liberal now that I'm running for governor)Mills-- since he sounds just like him!
May 26, 2010 at 12:06 AM Report abuse
trisailer said...
Maine couldn't keep an industry like paper that is perfectly suited to Maine so how do these people who promise to bring jobs going to do it? Paper got tons of breaks from the state, but took their profits and left. The formula for creating small business is providing capital and start up assistance. Maine has always done well with tourism but is pricing itself out of the market. I don't hear anyone talking about developing the fishery or fish farming. There used to be a oyster farm down east that produced the finest oysters in the world. There are opportunities but all I'm hearing is more of the same old ideas. Reducing taxes beyond what other competing states charge just cost the state money.
May 26, 2010 at 7:50 AM Report abuse
louisH2Ovill said...
'Begawk, begawk, begawk'--that is the sound of the chicken Bruce Poliquin fleeing from debating the other 6 Republicans in the gubernatorial candidates' debate! How is he going to face up to the state's problems when he doesn't even dare confront this compeitors in debate? He won't be able to buy this one!
May 26, 2010 at 9:04 AM Report abuse
Hutch said...
Louis from waterville, whom are you supporting? Maybe we can have a intelligent conversation rather than you constantly downing Poliquin when you have never even talked with him and you could really get to know his platform. Very easy to be critical.
May 26, 2010 at 9:44 PM Report abuse