Cha-Ching, Bada (Stephen) Bing
http://www.kqed.org/weblog/capitalnotes/blog.jsp
It's looking like Hollywood movie producer Stephen Bing may set his own blockbuster record with contributions to the campaign in favor of Proposition 87.
On Wednesday, Bing wrote a $10 million dollar check to the Yes on 87 campaign, supporting a proposal to fund alternative energy research through a new tax on oil drilling.
That makes his total contributions to date for Prop 87 a whopping $26.5 million. Bing has the reputation of being a reclusive millionaire, but it's hard to miss him in this race... considering his contributions account for some 82% of all the money raised in support of Prop 87 (campaign total: about $32 million).
Last year, Bing wrote checks totaling about $4.8 million for his political causes, with almost all of that spent on efforts to defeat the redistricting initiative, Proposition 77. A quick scan of previous years shows that 2005 was his biggest political contribution year... that is, until 2006.
"Bing is clearly on the way to setting a record for the highest contributions from an individual," says Bob Stern of the Center for Governmental Studies. Stern correctly points out that other individuals-- like Al Checchi and Steve Westly-- have spent more of their own money on political endeavors, but they were running for office.
If nothing else, the new infusion of Bing's money makes the playing field in this initiative battle a little more even; records show that the No on 87 campaign (funded largely by oil companies) has raised almost $35 million so far.
posted by John Myers
http://www.kqed.org/weblog/capitalnotes/blog.jsp