Deval Patrick Creeps Closer
Is an announcement coming? The Globe
seems to think so:
Deval Patrick edged closer to a run for governor yesterday, saying his family has given him the green light to plunge into the race as he continues to assemble a staff and campaign organization.
Blah blah blah -- cut to the chase:
Another major issue for Patrick is raising campaign funds.[...]
He has said reports in the financial press about his stock options and severance packages have exaggerated his net worth.
But he has told political figures he can put at least a half-million dollars of his own money into the campaign.
He has already contributed $100,000 for his exploratory efforts, including renting a downtown Boston office and hiring several aides and consultants. But most analysts figure that Patrick, to be a serious candidate in the primary, must spend as much as $5 million. Raising that much is difficult because state law limits each contribution to $500 per person each year.
Meanwhile, Reilly, who has $2.2 million in campaign funds, is making an all-out push to demonstrate his dominance in the field with a fund-raising bash tomorrow.
His fund-raising team expects to raise more than $200,000 at an event this week. Galvin has more than $1.5 million in his political account.
Patrick will not be able to raise money effectively until he announces -- the first month out of the gates will be crucial -- he needs to beat expectations in money raising (without it coming from his own net worth).