Perdue, Moore amass cash

Democrats vie to be next governor

With the Democratic primary for governor of North Carolina still nine months away, the two leading candidates, Lt. Gov. Beverly Perdue and state Treasurer Richard Moore, have dipped into different wells to build campaign war chests totaling $8.4 million.

And it is shaping up as an unusual contest: Wall Street versus the good old boys.

Perdue is trying to become North Carolina's first female governor. But it is she who has most tapped into the Democratic Party's old boy network, raising money from Democratic heavy hitters on the state Board of Transportation, party activists who have been appointed to state boards and commissions, and party interest groups such as the teachers union executives.

Moore has financed his campaign through less-traditional sources. He is relying heavily on Wall Street and other investments firms, many of which want to handle part of the state's huge pension fund.

Moore has raised almost 30 percent of his money from out of state, while Perdue has raised less than 4 percent of her money from outside North Carolina during the current election cycle, according to an analysis of campaign records. Such a large percentage of out-of-state contributions is typical of U.S. Senate races but is much rarer in gubernatorial elections.

Both Perdue and Moore, who are seeking to succeed two-term Democratic Gov. Mike Easley next year, are potent fundraisers.

Perdue has raised $4.1 million so far and had $3.4 million on hand as of June 30, according to campaign reports filed with the State Board of Elections. Moore has raised $4.3 million and had $3.7 million on hand.

The fundraising is far ahead of the pace of recent gubernatorial elections.

"We started not long after Gov. Easley was sworn in," said Robert Zaytoun, a Raleigh lawyer who is Perdue's co-chairman of finance. "This is the earliest I've seen a governor's race get up and going."

The Democratic money dwarfs the funds raised by the three Republican gubernatorial candidates: Salisbury lawyer Bill Graham, former N.C. Supreme Court Justice Bob Orr and state Sen. Fred Smith. Combined, the three have raised $486,000. They had a combined $214,039 cash on hand June 30.

"It's a combination of the two leading Democrats being in a position where they have considerable authority and power and the perception that one of them will be the next governor," said Bob Hall, of Democracy North Carolina, a Carrboro-based group that monitors political money.

Long history for both

Both Perdue and Moore are veteran politicians whose careers span decades. Perdue has served in both houses of the legislature and has been lieutenant governor for nearly seven years. Moore served in the legislature, was crime control secretary under Gov. Jim Hunt and has been treasurer for nearly seven years.

Although Perdue has yet to formally announce her candidacy, she has had her eyes on the governor's mansion for years. She has gained the inside track with the preponderance of party insiders.

Past donors to Easley and Hunt are migrating in greater numbers toward Perdue. Of the contributors to Easley's two campaigns who have donated in this election, 61 percent of their money has gone to Perdue, compared with 39 percent to Moore. Of those who backed Hunt during his last two elections and have donated this time, 56 percent of the money has gone to Perdue, and 44 percent to Moore.

One measure of where the Democratic heavyweights are going is the state Board of Transportation. The DOT board has traditionally been made up of big campaign donors, who in turn influence hundreds of millions of dollars of highway construction.