By R.G. Ratcliffe
Farouk Shami is well on his way to fulfilling his campaign promise to spend $10 million of his own money seeking the Democratic gubernatorial nomination. Through the end of December Shami had personally loaned his campaign $5.4 million according to reports one and two filed at the Texas Ethics Commission. Shamis main obstacle to the nomination is former Houston Mayor Bill White who is getting the party establishment behind his campaign.
White is a late starter in the race having been running for U.S. Senate until it became obvious U.S. Sen. Kay Bailey Hutchison was not going to resign for her own race for governor.
Whites campaign report through the end of December is a nod to financial recycling. The 28-day fundraising tally of $6.2 million collected that Whites
campaign was touting last week included more than $3.1 million from his federal Senate race account and a transfer of $550000 from his city of Houston mayoral political account.
But in the end he had almost $5.5 million in cash and it spends the same as new money.
Over on the Republican side of the gubernatorial contest former Wharton County GOP chair Debra Medina raised $191005 through the end of last year and spent $163496 on her David vs. Goliath campaign.
The Goliaths in the race Hutchison and incumbent Gov. Rick Perry each had healthy fundraising totals.
Perry raised $7.1 million to Hutchisons $6.1 million. She ended the year with more money in the bank: $12.3 million to his $11.6 million.
However her burn rate is far higher than Perrys.
Hutchison had a financial advantage of almost $3 million in cash over Perry at the end of July but that had dwindled to an advantage of about $700000 by the end of the year.
The difference was that Hutchison had spent $6.3 million in the second half of 2009 to Perrys $4.7 million.
Hutchisons report showed a $60000 from her federal Senate campaign committee. Her two top donors at $100000 each were Valero Energy
Chairman William Greehey of San Antonio and computer magnate H. Ross Perot of Dallas.
Spoting Perrys top donors was a little difficult in his report but the accumulated value of Houston homebuilder Bob (no relation) Perrys contributions came to $200000.
Dallas investor T. Boone Pickens gave Perry $100000.
