First Hawaiian says To spotlight the state's problems with campaign finance reform, First Hawaiian Bank will no longer make corporate campaign contributions to political candidates, according to Walter Dods, the chairman and chief executive officer of First Hawaiian and BancWest Corp.
‘no’ to campaign
donations
The bank will follow
the intent of a vetoed billBy Richard Borreca
rborreca@starbulletin.comFirst Hawaiian gives about $25,000 a year to candidates of both major parties, with the average candidate getting about $500 in an election cycle.
Dods' announcement came after Gov. Ben Cayetano vetoed a bill that would have forbidden contributions from companies that do business with the state or county or from banks or labor unions.
Dods, who had briefly considered running for governor this year, said that even if the bill was flawed, it highlighted the problems with politicians and money in Hawaii.
"Its heart was in the right place, attempting to reduce contributions from unions and corporations, especially government contractors and vendors," Dods said.
The banker and strong Democratic supporter said "the system is broken" and is hurting the public's perception of government.
"The public always assumes the worst: that elected officials are in the pocket of special interests and contributors are getting preferential treatment," Dods said.
Sen. Colleen Hanabusa, who had introduced the campaign finance bill, said she was encouraged by Dods' action to follow the spirit of the law.
"It sends a strong statement to others and it is a confirmation that it was a good bill," Hanabusa (D, Waianae) said.
Makiki Democratic Rep. Brian Schatz, a longtime proponent of campaign reform, agreed and congratulated Dods, calling him "a real leader in the community."
"But we can't rely on corporations and unions doing this voluntarily. There is a growing recognition that the way we finance campaigning is broken; all sectors of the community are recognizing it," Schatz said.
The move also was hailed by Robert Watada, Campaign Spending Commission executive director.
"I laud the step taken by Walter Dods and First Hawaiian," Watada said.
Sen. Cal Kawamoto (D, Waipahu) said the campaign contribution debate is also an issue of free speech. Although he voted for the campaign spending bill this year, Kawamoto had reservations about it.
"If you look at it both ways, you see that you could be cutting off the ability of people to express their opinion by encouraging your campaign," Kawamoto said.
Dods said he is asking bank officers and employees not to ignore political activity.
He said he didn't know if bank officers would give to candidates in the same amount that the bank previously had donated, but noted that on a federal level, banks are not allowed to give any money to candidates.
"For most of my adult life, I've tried to help candidates I believe in with my time and financial contributions, and I'll probably do so again, as an individual," Dods said.