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McCain Seeks Help From Bush Fundraisers to Replenish Coffers

By Jonathan D. Salant

Feb. 15 (Bloomberg) -- Senator John McCain, whose money woes last year almost sank his bid for the Republican presidential nomination, is turning to President George W. Bush's top fundraisers to help finance his campaign.

Top McCain fundraisers such as Wayne Berman are seeking help from Bush Pioneers and Rangers who have been aligned with other candidates or were neutral. Pioneers raised at least $100,000 for Bush in 2000 or 2004 and Rangers raised at least $200,000 in 2004.

``Bringing the people who give and raise money for other candidates is an element of unifying the party,'' said Berman, who raised more than $200,000 for Bush in 2004 and is managing director of Washington-based Ogilvy Government Relations.

The McCain campaign announced on Feb. 12 that Mercer Reynolds, national finance chairman for Bush's 2004 re-election campaign, had signed on to help. Reynolds was instrumental in helping Bush raise a record $259 million four years ago.

McCain laid off staff in July and took out a $3 million loan before the New Hampshire primary victory that resurrected his campaign. He raised $37.5 million in 2007, behind former New York City Mayor Rudy Giuliani's $59.2 million and former Massachusetts Governor Mitt Romney's $53.9 million. Romney also loaned his campaign $35.4 million. Giuliani and Romney have endorsed McCain since they dropped out of the race.

McCain raised more than $7 million in January compared with the $6.8 million he took in for the last three months of 2007. Campaign finance figures are due to be released Feb. 20.

The McCain Comeback

``If you go back to last July, there were only a handful of people who thought McCain had a chance to win,'' said campaign adviser Charlie Black, chairman of the Washington lobbying firm BKSH & Associates Worldwide. ``But he believed it. It required running without much money and having to run one state at a time.''

The fundraisers are helping finance McCain's primary campaign for now. He has said he would accept federal funding for the general election if the Democratic nominee does.

Through the end of last year, McCain raised less than half as much as either Senator Hillary Clinton of New York or Senator Barack Obama of Illinois, who are fighting it out for the Democratic nomination. Each raised more than $100 million last year.

Venture capitalist Floyd Kvamme, who raised at least $100,000 for Bush in 2000 and was helping Giuliani this year, said he was approached by the McCain campaign after his candidate withdrew from the race.

``Senator McCain will make a fine candidate,'' said Kvamme, partner emeritus at the Menlo Park, California-based venture capital firm Kleiner Perkins Caufield & Byers. ``I will back him and I think a number of other Giuliani and Romney supporters will do the same thing. The fundraising piece will come into gear at some point.''

Another former Bush and Giuliani fundraiser, Dirk Van Dongen, said he is making calls for McCain now that he is the presumptive nominee.

Getting Behind the Nominee

``When the process winnows it down, the expectation is everybody gets behind the nominee,'' said Van Dongen, who heads the Washington-based National Association of Wholesaler- Distributors and raised more than $200,000 for Bush in 2004.

Berman said that Bush fundraisers who have been on the sidelines have reason now to rally around McCain.

``What attracts them is the comeback story,'' Berman said. ``A lot of these folks don't agree with him on every issue, but they're attracted by the way he came back.''

Among those now in McCain's camp is U.S. Representative Tom Reynolds of New York, who brought in more than $200,000 for Bush in 2004. ``We should be moving toward getting unity in our party,'' Reynolds said.

To contact the reporter on this story: Jonathan D. Salant in Washington at jsalant@bloomberg.net.

Last Updated: February 15, 2008 13:13 EST

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