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Chris Kennedy’s 4th quarter burn rate topped 150 percent, had just $737K in the bank
Tuesday, Jan 16, 2018 - Posted by Rich Miller * This is not the D-2 you want to file just before the final sprint to primary day… And $250,000 of that million dollars he raised came from his own pocket. …Adding… To put this into a bit of perspective, Sen. Daniel Biss ended the 4th quarter with $3.1 million in the bank. That’s well over four times what Kennedy had on hand. Ridiculous.
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- Oswego Willy - Tuesday, Jan 16, 18 @ 6:56 pm:
This is like having ashes in the fireplace, and you’re outta wood, and you try to burn the ash and “soot” to build a fire.
The burn rate and cash on hand show no sign of any responsibility or coordination to a goal.
10 weeks, 70K a week left in funds?
- Hottot - Tuesday, Jan 16, 18 @ 7:19 pm:
I hate to say it, but I’m afraid if Kennedy doesn’t pull a rabbit out of his hat, he’s done. $737,000 this late in the primary season isn’t much to work with, and to get air time on the Chicago and St. Louis markets, he’ll have to pull a Donald Trump tactic and start saying controversial comments, which will make him look terrible to everyone but his loyal supporters. Even then, his opponents will not drop out. It would work in a multi-state campaign such as the presidency. It won’t work in a one state election.
- Roman - Tuesday, Jan 16, 18 @ 7:29 pm:
== start saying controversial comments ==
He’s already done that. He’s gonna be dependent almost entirely free media, so yeah, more “strategic gentrification” and Joe Berrios bashing to come.
- JoeMaddon - Tuesday, Jan 16, 18 @ 7:30 pm:
Those numbers from Chris are… not good. Not good at all.
If I’m his staff, with that burn rate, I may start to worry if he’s going to have enough cash to pay me.
- Roman - Tuesday, Jan 16, 18 @ 7:31 pm:
Adding…
Maybe he should challenge Jeanne Ives to a series of debates.
- Anonymous - Tuesday, Jan 16, 18 @ 7:42 pm:
It hurts to say this, but I think this is the point in time where Kennedy should consider dropping out. I was leaning Kennedy, but it’s clear that he does not have the money to compete
- wordslinger - Tuesday, Jan 16, 18 @ 7:56 pm:
Kennedys not named Chris who kicked in last quarter: Leslie of Chicago, $1K; Ted Jr. of New Haven, $10K.
That’s it.
- fatcat - Tuesday, Jan 16, 18 @ 8:02 pm:
I’m sure Kennedy will blame Berrios and the property tax system for his weak fundrasing and failure to run a competent campaign. I’m sure the Tribune will agree.
- DarkHorse - Tuesday, Jan 16, 18 @ 8:05 pm:
One of the crazy things about this race is very few people know how much money Kennedy could kick in if he really wanted to. Is it possible he has $3 million he could kick in if he wanted? Yes. Will he? Probably not.
- wordslinger - Tuesday, Jan 16, 18 @ 8:14 pm:
I guess Bill Daley’s million-dollar resume is worth the paper it’s printed on when it comes to fundraising.
–”I don’t care what J.B. (Pritzker) spends,” said Daley, referring to the rival who insiders say is prepared to spend $70 million to win the primary, and then a multiple of that against GOP incumbent Bruce Rauner. “What Chris needs to be competitive is $8 million to $10 million. That’s enough to get out the message.”–
Tick. Tock.
http://www.chicagobusiness.com/article/20170719/BLOGS02/170719834/daley-vows-kennedy-fundraising-shakeup
- Chief Illiniwek - Tuesday, Jan 16, 18 @ 8:21 pm:
I wonder if it had anything to do with dismantling the Access Committee which was focused on racial, religious and economic diversity. Hmmmmm….
- Arsenal - Tuesday, Jan 16, 18 @ 8:44 pm:
*What is he spending it on???* He’s had one commercial on TV, he has no field to speak of, no mailers or radio spots. The most distressing thing about imagining Kennedy as Governor is that he’s clearly getting taken for a ride by some consultants.
- Moe Berg - Tuesday, Jan 16, 18 @ 8:55 pm:
Crain’s, July 19, 2017: Calling last quarter’s performance “lousy,” the new head of gubernatorial hopeful Chris Kennedy’s finance operation is promising major changes soon to make sure his guy has what he needs to compete in the increasingly expensive Democratic primary race.
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“I don’t care what J.B. (Pritzker) spends,” said Daley, referring to the rival who insiders say is prepared to spend $70 million to win the primary, and then a multiple of that against GOP incumbent Bruce Rauner. “What Chris needs to be competitive is $8 million to $10 million. That’s enough to get out the message.”
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“It was a bad quarter, no question about it,” Daley told me. “There was a lot of political outreach. (But) there wasn’t even a finance committee, just a committee of stakeholders.”
Fixing that is the first thing on his agenda, Daley said. A full finance committee is being assembled (Daley declined to disclose any names), with an initial meeting set for next week. Lists of fundraising targets will be assembled, and regular calls and contacts made, he continued. Some of that will involve the candidate himself. “Chris has to spend more time on it.”
- Hottot - Tuesday, Jan 16, 18 @ 9:02 pm:
“He’s already done that. He’s gonna be dependent almost entirely free media, so yeah, more “strategic gentrification” and Joe Berrios bashing to come”
Yeah, he’s said controversial comments inside Chicago. The rest of the state outside Cook county could care less. He’s going to have to start getting free press outside Chicago or he’s done. I know 2/3rds live inside the Chicagoland area, but unless you live within Cook County, ousting Berrios means nothing.
- Lynn S. - Tuesday, Jan 16, 18 @ 9:03 pm:
@Dark horse: the Kennedys never spend their political campaigns. That’s what we little chumps are for.
- Arsenal - Tuesday, Jan 16, 18 @ 9:12 pm:
…what’s he spending it on? He’s had one ad, no mail campaign, no field to speak of.
One of the bigger knocks against Kennedy as a Governor is that he’s getting taken for a ride by some “consultants”.
- Sonny - Tuesday, Jan 16, 18 @ 9:38 pm:
He’s done. He’s been done. This is ridic. $90,000.00 for the part timer fund raiser.
- DuPage Bard - Tuesday, Jan 16, 18 @ 11:40 pm:
So in other words the Kennedy clan is not coming to the rescue. You should have just stayed in the elevator Chris.
- Lynn S. - Wednesday, Jan 17, 18 @ 12:47 am:
Fixing my comment from earlier:
The Kennedys do not put their money into their own political campaigns. That’s what the rest of us are expected to do.
They are available for media events, phone banking, and door knocking, however.
- SameolG - Wednesday, Jan 17, 18 @ 7:01 am:
Kennedy who? DB is coming for JB.
- wordslinger - Wednesday, Jan 17, 18 @ 7:28 am:
–DB is coming for JB.==
Phrasing.
- Almost the Weekend - Wednesday, Jan 17, 18 @ 8:53 am:
I can’t wait for the exclusive report from inside the campaign composed of anonymous sources the weekend after the election.
- lake county democrat - Wednesday, Jan 17, 18 @ 8:53 am:
What Arsenal said - it’s one thing to strategically (even bad strategically) blow your wad of cash, but this is insane - I haven’t even heard radio ads and those are NOT that expensive. If I thought Biss had a prayer of beating JB I’d be thinking of switching.
That said, I can’t shake doubts about JB - I have yet to meet a single person who isn’t a public worker union member who supports him. Primaries are crazy - just ask Adlai Stevenson III.
- Baggs McCoy - Wednesday, Jan 17, 18 @ 8:54 am:
Oh he’s fine..70K a week? He could easily get up on cable…for a week…in one market…and maybe pay staff.
- Lynn S. - Wednesday, Jan 17, 18 @ 9:21 am:
LCD–I work in the private sector and support JB. I don’t think Kennedy brings anything worthwhile to the party, and I’m not convinced Biss can win the general, although he will probably do OK in the primary.
- Arsenal - Wednesday, Jan 17, 18 @ 9:25 am:
== I have yet to meet a single person who isn’t a public worker union member who supports him.==
That’s weird since CTUM AFSCME and SEIU haven’t endorsed. But regardless, I’m in neither a union nor the public sector, and JB’s my top choice. He just seems to be the only one talking about things people care about- jobs, health care- rather than the “soul of the Democratic Party” or Rahm Emmanuel’s views on race.
- lake county democrat - Wednesday, Jan 17, 18 @ 11:26 am:
Arsenal and Lynn - oh, I’m sure there are some, and my sampling is surely biased as well, I just sense his support is lukewarm - more pragmatic like Lynn indicates. On big issues like health care and macro-policy, I doubt there’d be THAT much difference with any of them.