mercurynews.com
High-tech donors give most to Bush
EVEN IN LIBERAL BAY AREA, PRESIDENT OUT-COLLECTS KERRY
By Jim Puzzanghera
Mercury News Washington Bureau
WASHINGTON - President Bush narrowly out-raised Democratic front-runner Sen. John Kerry in contributions from Silicon Valley's high-tech industry and from the Bay Area overall last year, according to a Mercury News analysis.
In contributions from the high-tech industry nationally, Bush was the undisputed king. The president, who will collect more tech money at a campaign fundraiser in Santa Clara today, received $1.62 million from people who work in the field, triple what Kerry raised and more than all 10 Democratic presidential candidates combined. Among the big names writing maximum-contribution $2,000 checks to Bush's campaign were Hewlett-Packard's Carly Fiorina, Intel's Craig Barrett and Microsoft's Bill Gates.
Reflecting tougher economic times, 2003 presidential campaign contributions were down slightly in the Bay Area, in the region's tech industry and the industry nationally compared to four years ago. The drop took place even though Congress increased the maximum allowable individual contribution from $1,000 to $2,000 in 2002.
The power of incumbency combined with Bush's pro-business policies, from his two rounds of tax cuts to his embrace of free trade, have helped make him the choice of high-tech executives.
``For the tech industry and a number of global businesses, they're probably going to like what the Bush folks have to say about free trade, about making sure there are relatively few tariffs and that we can produce abroad,'' said Larry Gerston, a political-science professor at San Jose State University. ``Whereas the Democrats increasingly are talking about globalization and the concerns from outsourcing and job losses.''
Bush's lead in fundraising in the tech industry and the Bay Area is not surprising. He raised $132 million for his re-election campaign through the end of 2003, the most recent period for which detailed figures are available. The president's fundraising total was more than triple that of the leading Democratic fundraiser at the time, Howard Dean, who dropped out of the race last month. And Bush's total was more than four times what Kerry raised in 2003.
But overall individual contributions in the Bay Area illustrate the Democratic Party's strength in the liberal region: Here, Bush managed only to nudge out Kerry, D-Mass., $1.45 million to $1.35 million. Dean, the former Vermont governor, came in third with $1.1 million. Sen. Joe Lieberman, D-Conn., who courted Silicon Valley heavily before abandoning his campaign last month, came in fourth with $567,860. Sen. John Edwards, D-N.C., who dropped out of the race Wednesday, was fifth with $459,850.
Combined, all the Democratic presidential candidates -- 10 of them at one point -- easily out-raised Bush in the Bay Area in 2003, collecting a total of $4.2 million.
The figures come from an analysis of Federal Election Commission data compiled for the Mercury News by Dwight L. Morris and Associates, which tracks campaign contributions. But such analyses can be inexact. The FEC requires campaigns to provide specific information, such as a contributor's occupation and ZIP code, only on contributions of $200 or more, meaning smaller contributions are not included in the data. Approximately 25 percent of contributions cannot be categorized by industry occupation because of incomplete or vague information.
The lack of detailed contribution information since Jan. 1 also doesn't capture accelerated fundraising by both Kerry and Edwards. The two candidates have added a combined $11 million after finishing first and second in the Iowa caucuses. Bush has continued to raise money at a brisk pace in 2004 as well, pulling in an estimated $15 more through Jan. 31.
Bush raised $145,805 from people in the Bay Area working in high-tech fields, which the Mercury News defined as computers, software, Internet, telecommunications, electronics, venture capital, aerospace and biotechnology. Kerry raised $139,950. In the high-tech industry nationally, Kerry trailed far behind Bush, pulling in $533,250.
Gregory Slayton, a Palo Alto venture capitalist and the co-chair of the finance team for Bush's California re-election campaign, said the president's pro-business policies as well as his personal outreach to Silicon Valley have given him strong support in the high-tech industry. Bush's trip to Santa Clara today is his fourth to the valley since taking office in 2001.
``Just like the rest of America, the tech industry says we can trust this guy. We might not agree with him on everything, but we can trust him on the most important things -- free trade, education,'' said Slayton, managing director of Slayton Capital. ``The basic issues that are critical to the tech industry are issues that the president gets.''
California Controller Steve Westly, co-chair of Kerry's campaign in the state and a former eBay executive, said he's not surprised Bush drew more high-tech money than Kerry in 2003. But Westly questioned whether that support will continue as the federal budget heads toward a projected $521 billion deficit next year.
``Some people love a tax break, but I think a lot of people, especially executives, including many I know, are looking at the huge deficits the president has run up . . . and they're going to say, `This is not the way to run a country, and it's certainly not the way I run my company,' '' Westly said. ``Should there ever be a debate on technology issues, the future of the new economy, Senator Kerry is going to beat the president going away.''
Last week, Kerry's campaign touted endorsements from 150 people in the Silicon Valley high-tech industry, including Eric Schmidt, chief executive of Google, John W. Thompson, chairman and chief executive of Symantec, and longtime venture capitalist Brook Byers.
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Contact Jim Puzzanghera at jpuzzanghera@krwashington. com or (202) 383-6043. |
