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Thursday, May 29, 2008

Richardson Raises $63,000 Toward Campaign Debt

By Barry Massey
Associated Press
      SANTA FE — Gov. Bill Richardson raised nearly $63,000 last month to help pay off debts of his presidential campaign.
    Richardson's campaign had a cash balance of about $659 at the end of April and listed debts of $317,494, according to the latest financial report filed with the Federal Election Commission.
    Richardson, who dropped out of the Democratic presidential race in early January, has said that he hopes to retire the presidential campaign debts by the end of this year.
    The campaign collected $54,914 in contributions and received about $7,800 from refunds and the sale of equipment — providing total receipts of about $62,700.
    Among the contributors was Colorado millionaire Rutt Bridges, who gave $1,000. He is the founder of a Denver-based think tank and a software entrepreneur. Bridges has been a financial backer of other Richardson political efforts, giving $150,000 in 2004 to Moving America Forward, a so-called 527 committee that Richardson formed in 2003 but has since disbanded.
    Giving $2,000 was Robert Jornayvaz, chief executive officer of Denver-based Intrepid Potash Inc., which operates mines in New Mexico and Utah.
    The campaign spent $72,186 last month, including $10,000 to a Washington, D.C. law firm for legal services.
    The campaign's debts shrank slightly last month, down from nearly $368,700 at the end of March. Travel expenses account for about three-fourths of what the campaign owes.
    Overall, Richardson raised about $24 million for his presidential campaign, which started in January 2007.

Copyright ©2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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