Bush Mines Deep Vein of Fund-Raising Resources

When President Bush began filling his campaign war chest in May and June, executives at Merrill Lynch & Co. answered the call by helping to round up $250,000 in donations.

Top leaders of Lehman Bros. and Bear Stearns also came through for him, with bunches of contributions totaling more than $100,000.

In all, 10 of the top 20 groups of donors who supported Bush’s reelection fund drive were from the financial services industry, according to an analysis of records filed this week with the Federal Election Commission. Among other groups that heavily backed the president were lawyers, lobbying firms, energy companies and the tobacco industry, according to the analysis. In each case, key executives or others associated with a particular group helped solicit checks at or near the individual limit of $2,000 from colleagues, friends, spouses and relatives.

Such efforts helped leverage a nucleus of support into a large haul for Bush. His campaign raised $34.4 million through June 30.

Among the nine Democrats, Sen. John F. Kerry of Massachusetts enjoyed strong financial backing from lawyers, lobbyists, doctors and the entertainment industry. Sen. John Edwards of North Carolina, who earned millions as a lawyer specializing in medical malpractice and personal injury cases, mined his contacts among law firms. Sen. Joe Lieberman of Connecticut relied on lawyers, developers and insurers.

Former Vermont Gov. Howard Dean received checks from tens of thousands of small-scale donors through the Internet.

But none of the Democrats appeared to have locked up any major sector of the party’s financial base.

Hollywood money, for instance, still seems up for grabs.

“They’re divvying up the Democratic pie,” said Dwight L. Morris, a campaign finance expert in Virginia who analyzed the fund-raising records for the Los Angeles Times. “None of the Democrats has one or two or three big sugar daddy companies that they can tap.”

Bush, on the other hand, has a plethora of such sources. Analysts said that would be expected for a president who has cut taxes and regulations -- two of the top policy priorities for U.S. business.

“Overall, Republicans in power get more corporate money than Democrats in power get,” said Larry Noble, executive director of the Center for Responsive Politics in Washington, a group that studies campaign finances. “There’s a natural tendency, a gravitational pull, on the side of many businesses toward Republicans.”

While the fund-raising reports show the depth of resources the candidates have mustered, they also show breadth of financial support -- another index of strength.

The Bush campaign boasted 105,000 donors, listing all of them on its Web site. As a result, a browser can learn that an Alaskan named Brooke Marston, who works in real estate, gave the president $1.

Campaign officials calculated that in four out of every five counties in America, someone gave money this year to reelect the president.

Among the Democrats, only Dean had anywhere near the number of Bush contributors in the first half of the year: 83,000. Many of them were drawn to Dean through his aggressive use of the Internet.

More than half of the $7.6 million that Dean raised in April, May and June -- $4 million -- came from donors giving less than $200. That was more than the $3 million Bush raised from such donors, and far exceeded the small-donor take from other Democrats.

Dean aides noted that he can keep returning to those backers until their donations reach the $2,000 limit. The small givers will also boost Dean’s eligibility for federal matching funds next year, which is calculated on a per-donor formula.

Fueled by his strong second-quarter showing -- the best among the Democrats -- Dean so far has raised $10.5 million this year. That still lags behind the overall totals for Kerry, $13.3 million, and Edwards, $11.9 million.

Kerry and Edwards each raised more than $100,000 from at least 18 states in the last six months, the campaign records show.

California gave them more than any other state -- at least $2.5 million for Kerry and at least $1.9 million for Edwards. For Kerry, the state accounted for more than one-fifth of his total; for Edwards, slightly less.

Sen. Dianne Feinstein (D-Calif.) gave Kerry $2,000.

At least one California celebrity hedged her bets: singer Barbra Streisand gave $1,000 each to Dean, Kerry, Edwards and Rep. Richard A. Gephardt of Missouri, Sen. Bob Graham of Florida and the Rev. Al Sharpton of New York.

But Bush topped all challengers in California, raking in more than $4 million from state residents.

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California cash

For President Bush and the Democrats seeking to challenge him in the 2004

election, California has lived up to its traditional role as a major source of

campaign cash.

*--* Candidate Total contributions Total from California* George W. Bush $34.4 million $4.2 million John F. Kerry 13.3 mil 2.5 mil John Edwards 11.9 mil 1.9 mil Richard A. Gephardt 7.4 mil 1.2 mil Joe Lieberman 8.1 mil 1.3 mil Howard Dean 10.5 mil 1.5 mil Bob Graham 3.1 mil 134,000 Dennis J. Kucinich 1.7 mil 319,000 Al Sharpton 137,000 N/A Carol Moseley Braun 217,000 21,000 *Includes only contributions of $200 or more; candidates are not required to detail smaller donations

*--*

Source: Federal Election Commission, campaigns and Dwight L. Morris & Associates

Los Angeles Times