McAuliffe's Prowess As Fundraiser Grabs Spotlight in Va. Race

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Terry McAuliffe, Fundraising Juggernaut

Terry McAuliffe's background as one of the most prolific fundraisers the Democratic Party has ever seen could prove to be a liability in his run to be governor of Virginia.

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Instead of holding big fundraisers in preparation for his first campaign finance report in January, McAuliffe has been sending out e-mails soliciting $5 donations that are designed to build his contact list and create the impression that his campaign is being powered by low-dollar contributors. At the same time, McAuliffe has been visiting the homes and offices of deep-pocketed Democratic donors in Virginia, many of whom are skeptical of him. Last month, he met with 30 lawyers and lobbyists at the Richmond office of McGuireWoods, one of the state's largest law firms.

"People afterwards told me they were just blown away by his energy level and enthusiasm," said Eva T. Hardy, a McGuireWoods consultant.

McAuliffe has extensive business experience, which he says gives him the ability to promote Virginia to corporate executives as a place to set up operations. Kirk said McAuliffe sold him on the idea of having a governor with a business background.

"When I hire a chief executive, it helps his chances if he has a lot of contacts within the industry we want him to work," Kirk said. "Virginia is a business."

But in Richmond, conversation about McAuliffe always seems to come back to money. Phil Cox, campaign manager for Attorney General Robert F. McDonnell, the GOP nominee for governor, said that without McAuliffe in the race, a major-party nominee would have to spend $25 million to $35 million to wage a successful general election campaign. But with McAuliffe in the race, the dollar amounts seem almost without limit. In recent weeks, Richmond has been engulfed in speculation that McAuliffe plans to raise as much as $80 million.

"I have heard a lot of money -- money that this state has never seen," said Senate Majority Leader Richard L. Saslaw (D-Fairfax).

Cox said Republicans have accepted that McAuliffe's money could be a big factor in next year's campaign. He referred to President-elect Barack Obama's success in Virginia this year against Sen. John McCain, the GOP nominee.

"By all accounts, Obama outspent McCain 2 to 1 in Virginia," Cox said. "You can't tell me that didn't make a difference. Money matters in politics."

Staff researcher Meg Smith contributed to this report.