| Page 2 of 2 < |
Candidates Begin Hunting for '08 Funds
_Giuliani, the former Republican mayor of New York City, has assembled a roster of corporate executives to help him raise money _ relationships he formed in part through his lucrative business dealings. They include T. Boone Pickens, a billionaire oil tycoon from Texas who was a top Bush fundraiser. Giuliani brought in $1.4 million in the first few weeks of his campaign and has $2 million left from an aborted Senate bid in 2000.
_Clinton, a senator from New York, hopes to raise at least $75 million this year. Her network includes many fundraisers from former President Clinton's campaigns. On board is Haim Saban, a Hollywood studio investor and creator of the Mighty Morphin Power Rangers. She has asked contributors to give the maximum amount for both the primary and general election since she plans to bypass the public financing system entirely.
  Former Massachusetts Gov., Mitt Romney, R-Mass., asks his sister Lynn Romney of Bloomfield Hills, Mich., for a donation at convention center in Boston in this Jan 8, 2007, file photo as his wife, Ann Romney, looks on. Just days after he created his presidential exploratory committee, Romney brought 400 volunteers to Boston to dial for dollars using a custom-made software program dubbed the ComMITT system that allows volunteers to set goals and gather pledges and actual donations online. The take was $6.5 million in a single day. (AP Photo/Josh Reynolds) (Josh Reynolds - AP) 
| ||||||||||||||||||||
_Obama, a freshman Democratic senator from Illinois, isn't accepting donations from political action committees and lobbyists. Following Clinton's lead, he also doesn't plan to accept public campaign financing for either the primaries or the general election. But he has asked the FEC if he can return donors' money later and still qualify for public financing should he change his mind. Jeffrey Katzenberg, a founder of the DreamWorks movie studio, is among his backers.
_Edwards, a former Democratic senator from North Carolina, is building on the remnants of a fundraising network from his unsuccessful 2004 presidential run, although its unclear whether he retains the lock on trial lawyers' money he once had. Like Obama, he isn't accepting donations from political action committees and lobbyists. And like Clinton and Obama, he plans to reject public financing altogether. So far, ACTBlue.com says he has raised more than $700,000 online.
Among the long-shot candidates, Sen. Chris Dodd, D-Conn., who chairs of the Senate Banking Committee but barely rates a blip in the polls, was able to rake in $3.2 million in the final three months of 2006, mostly from Wall Street, and reported $5 million cash on hand.
"We're entering a brave new world of presidential fundraising," said Michael Toner, an FEC commissioner. He said a perfect storm of conditions exist that have caused candidates to seek more money faster than ever.
The presidential campaign itself has started far earlier than before. With more than two dozen people running or considering a bid, fundraising has a way of winnowing out a crowded field. Also, since none of the major candidates are expected to accept public financing for the nomination race, they can ignore spending caps in early primary and caucus states _ encouraging them to raise even more money.
At the same time, the political calendar begins with a crush of caucuses and primaries. It may get worse as several large states with expensive media markets seek to hold their contests early. That means candidates must ensure they have the cash to put organizations in place in more states and the money to spend on costly TV ads.
In this high-stakes environment, Romney's campaign epitomizes the feverish hunt for cash.
Lesser known than McCain and Giuliani on a national level, Romney set out to prove immediately that he could bring in the money needed for a formidable challenge to both political celebrities. His goal for the first quarter was to start strong and continue building momentum.
Just days after he created his presidential exploratory committee, Romney brought 400 volunteers to Boston to dial for dollars using a custom-made software program dubbed the ComMITT system that allows volunteers to set goals and gather pledges and actual donations online. The take was $6.5 million in a single day.
In the meantime, his Internet team focused on maximizing donations to his campaign Web site, http:/
"The amount of money we've raised in our first month at mittromney.com demonstrates the success Governor Romney is having connecting with grass-roots supporters and online activists across the country," said Matt Rhoades, a Romney spokesman.
By comparison, Howard Dean, the Democrats' Internet fundraising pioneer who entered the 2004 race with low name recognition, didn't reach the $1 million mark online until a couple months after he set up his Web site _ and a full year after he created his campaign committee.
