Published: Friday, Feb. 19, 2010 – 12:00 am | Page 3A

An independent expenditure committee calling itself Level the Playing Field 2010 has released a radio ad criticizing Republican gubernatorial candidate Meg Whitman’s record as CEO at online auction firm eBay.

Following is the text of the ad and an analysis by Jack Chang of The Bee Capitol Bureau.

ANNOUNCER: Billionaire Meg Whitman thinks she can outwit the people of California.

She’s threatening to spend $150 million to crown herself governor.

But Meg Whitman won’t debate her opponents, and she refuses to release her tax returns.

What’s Meg Whitman trying to hide with her $150 million campaign?

Why won’t Meg Whitman explain the $12 million a year she claimed in cash and bonuses when she was in charge of eBay?

Twelve million dollars while laying off hundreds of workers, including 70 employees right here in California.

Maybe she’s afraid she’ll have to explain why she billed shareholders millions for her personal use of the corporate jet.

It’s time for Meg Whitman to level with Californians.

ANALYSIS: Some of the numbers in the ad are off-target, and the spot lacks context.

For example, Whitman earned $13,874,910 in compensation in 2007, but the ad states she earned $12 million in “cash and bonuses.”

Much of Whitman’s wealth, estimated at over $1 billion, came from eBay stock she earned shortly after the company went public in September 1998.

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