Sherman, Sybert Lend $1 Million to Campaigns

Digging deep into their own pockets, a Democratic congressional candidate and his Republican rival have collectively lent about $1 million to their political campaigns to win a seat in Congress.

Campaign finance reports show that Democrat Brad Sherman has now lent $390,000 to his all-out election bid to replace Rep. Anthony C. Beilenson (D-Woodland Hills), who is retiring at the end of the year.

Republican Rich Sybert has ponied up another $40,000 to help finance his second campaign for the seat in the 24th Congressional District that stretches from Thousand Oaks to Malibu and Sherman Oaks.

Sybert’s latest personal loans combined with the money he lent during his first bid for the 24th District seat in 1994 bring his financial commitment to about $610,000, the latest reports show.

“I’m only two-thirds as nuts as he is,” Sherman said Thursday, comparing the campaign finance totals. “Do the math.”

Sybert raised more money than Sherman in the past three months, bringing in $167,558. Of that total, about $57,000 came from political action committees set up by various insurance, aerospace, manufacturing and petroleum industries.

A few of the larger contributions include $2,500 from the National Assn. of Life Underwriters, $2,000 from Chevron Employees PAC, $1,500 from Exxon Corp. PAC, $2,000 from Litton Employees PAC and $1,000 from Phillips Petroleum Co. PAC.

Sybert’s report filed with the Federal Elections Commission showed that he had $180,742 in political cash available for spending as of Sept. 30.

“We are right on track,” said John Theiss, Sybert’s campaign manager. “Money is coming in every day.”

Sybert has a series of fund-raisers scheduled later this month, Theiss said, featuring former Vice President Dan Quayle, former presidential candidate Steve Forbes, Republican National Committee Chairman Haley Barbour and state Treasurer Matt Fong.

Sherman’s report showed that he raised $153,495 from July 1 through Sept. 30, with about $47,000 coming from political action committees set up by labor unions, and the electronics, medical, banking and movie industries.

Sherman said he has a fund-raising reception planned next week that features Vice President Al Gore.