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* AP…
Republican Bruce Rauner says he raised about $8 million in the second quarter and has about $3.5 million on hand for his bid for Illinois governor.
The Winnetka businessman’s campaign released fundraising totals Tuesday for the three-month period that ended June 30.
Rauner also claims to have received more than 8,500 contributions in the quarter. Gov. Quinn was vastly outraised, but he has lots more cash on hand.
posted by Rich Miller
Tuesday, Jul 15, 14 @ 2:41 pm
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Reality?
Rauner’s numbers are more about the amount he spends, versus what he raises.
Rauner can get any amount of money meeting any need, with a half dozen phone calls to big donors.
As to the 8,500 donors, good on them, but the news in Rauner financials for this race is not keeping track of the incoming, it’s really about the Rauner outgoing.
What is the amount being spent, when money is no worry.
Rauner will not be outspent or out-raised, no matter the snapshot of the D-2.
Comment by Oswego Willy Tuesday, Jul 15, 14 @ 2:47 pm
Like the old saying goes, you can’t take it with you. Rauner is spending it while Quinn evidently wants to hold on to the money for awhile.
Comment by Norseman Tuesday, Jul 15, 14 @ 2:48 pm
Quite the burn rate! Looks like a lot of consultants are getting well paid. Hope they can actually turn out votes for Bruce.
Comment by Whatever Tuesday, Jul 15, 14 @ 2:49 pm
Boy, he’s burning through money. Has he been on TV that much? I haven’t seen anything since the “she’s a Democrat, but I still lover her” spot.
Comment by wordslinger Tuesday, Jul 15, 14 @ 2:50 pm
If Rauner began the Quarter with 1.4 Million, raised 8 million, and closed with 3.5 million, then he spent 6 million in 3 months!
6 MILLION! Between April 1 and June 30, the DEAD PERIOD!
Brace yourself for a full-on Rauner ad onslaught in the next 4 months.
Comment by When I'm in the Thompson Center I eat at Arby's Tuesday, Jul 15, 14 @ 3:03 pm
When you’ve got a virtually endless wick, burn rate isn’t a concern; spending on what you feel is necessary to get the job done is.
Comment by Anonymous Tuesday, Jul 15, 14 @ 3:03 pm
I’m curious how much of those expenditures were donations to others. IE the report earlier that they raised 800k+ the first week of July, and sent 750k to the ILGOP
Comment by Anonymous Tuesday, Jul 15, 14 @ 3:10 pm
The burn rate is still too high.
Comment by Rahm's Parking Meter Tuesday, Jul 15, 14 @ 3:12 pm
WS: He had a negative ad on TV this morning. Rauner will not go dark. And after Labor Day we will see the Mother of All Media Buys.
Comment by The Prince Tuesday, Jul 15, 14 @ 3:12 pm
OW: Good call on the characterization of the D2: it is a snapshot in time, like a balance sheet is in the world of GAAP. And the only poll that counts is the one they take on Election Day.
Comment by The Prince Tuesday, Jul 15, 14 @ 3:15 pm
Perspective?
If I were the Rauner Crew, I would have waited, and asked Ken Griffin to wait until July 10th or so to donate the $2.5 million
But, the burn rate would have put, on hand about a million with $750K still to the ILGOP.
Now we might know why Ken Griffin gave the $2.5 million, as he did, when he did;
So $3.5 million on hand looks better than a million on hand…
While they both make over a million a week in personal income.
Mind boggling. The Rauner Crew is worried about a possible “light” coffer report when money is no object it no worry!
Yikes.
Comment by Oswego Willy Tuesday, Jul 15, 14 @ 3:22 pm
Ironic that the liberal is putting money away for the rainy day, while the conservative is spending it as fast as it’s coming in.
Comment by Downstate Tuesday, Jul 15, 14 @ 3:26 pm
All the more reason if he does not show his tax returns he can not be trusted by the people of this state
Comment by Honest Abe Tuesday, Jul 15, 14 @ 3:29 pm
==But, the burn rate would have put, on hand about a million with $750K still to the ILGOP.==
They reported raising over $850k from July 3-7, so that 750k would have no effect on the June 30 COH
Comment by Anonymous Tuesday, Jul 15, 14 @ 3:52 pm
===They reported raising over $850k from July 3-7, so that 750k would have no effect on the June 30 COH===
Apologies, typing shorthand on the phone.
This is what I meant, good point;
==But, the burn rate would have put, on hand about a million with $750K still to the ILGOP.==
“But, the burn rate would have put, on hand about a million with $750K still to go the ILGOP.”
With $3.5 less $2.5, a million on hand. Period, new thought.
Thanks for pointing out the $850+K raised.
The point still remains; the $2.5 million is huge in making the balance on hand $3.5 million, not that it remotely matters in reality, just in optics.
The irony of “only” having a million on hand for a man who made over a million a week in 2012 is just mind blowing.
(Tips cap to - The Prince - for the props)
Comment by Oswego Willy Tuesday, Jul 15, 14 @ 4:01 pm
Abe, I believe he has shown his returns for ‘11 and ‘12 and has yet to file his return for ‘13.
Comment by Anonymous Tuesday, Jul 15, 14 @ 4:02 pm
Report is live
http://elections.illinois.gov/CampaignDisclosure/D2Quarterly.aspx?id=538140
Comment by Smells like Arby's Tuesday, Jul 15, 14 @ 4:07 pm
In this report, Ken Griffin reported $2.5 million and $500K in donations.
That’s $3 million. COH, $3.5 million.
The burn rate is ridiculously high, even with the unlimited piggy bank.
Take out the $3 million, that’s $5 million “raised”, and $500K on hand, a 90% burn rate.
But, Griffin DID give the $3 million, and will give more to “influence”, because the “.01%ers” aren’t influencing enough.
Fascinating D-2, and of the $8 million raised, 37% of it came from Griffin.
Comment by Oswego Willy Tuesday, Jul 15, 14 @ 4:20 pm
In other news, Dan Rutherford’s campaign fund purchased $1.1 million in mutual funds.
Comment by Snucka Tuesday, Jul 15, 14 @ 4:24 pm
Pam Kinsey got $80k for one month! Bruce calls his gig bucks friends for money, and she get a a commission. Good work if you can get it.
Comment by Whatever Tuesday, Jul 15, 14 @ 4:51 pm
-the burn rate is too high-
(sobs quietly)
Comment by Arthur Andersen Tuesday, Jul 15, 14 @ 5:47 pm
Just a “spit in the bucket,” for ‘ol Bruce, as the ‘ol saying goes, especially when you’ve got $uper-duper, Mind-Boggling wealthy buds like the RICHEST MAN in ILLINOIS, ‘ol Kenny G., droppin’ in 37 cents out of every buck you bring in, like in this LAST Reporting Period, and, well, whenEVer that same bud feels like writin’ out ANOTHER such Check…let alone if ‘ol Bruce decides himSELF to drop in a Gazillion more for himself whenever he feels like it…! (This is what they call “buying Elections”–for those of you in abject denial, by the way, or at least TRYing to buy it)…!
Comment by Just The Way It Is One Tuesday, Jul 15, 14 @ 6:08 pm
Rauner bought his daughter’s way into an elite prep school, but he can’t buy the voters of Illinois.
Comment by DateNight Tuesday, Jul 15, 14 @ 7:58 pm
there`s nothing that can`t be fixed with money
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Comment by Lawyer In Peoria Il Friday, Jul 18, 14 @ 10:13 am