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Obama taps deep pockets, overtaking Clinton in business donations
05/03/2008 @ 9:46 am
Filed by John Byrne
Employees in nine major industries are beginning to turn their money toward Barack Obama's campaign -- a potential new sign that US business is placing their bets on Obama to win the Democratic nomination.
Campaign finance reports now show that employees of nine major US industries -- including defense, communications, health, construction and Wall Street -- gave the lion's share of their contributions to the junior senator from Illinois instead of rival Sen. Hillary Clinton (D-NY) in the first three months of 2008. All of these industries favored Clinton in 2007.
These industries include health, construction, lawyers, energy and finance.
Among top US industries, Clinton bested Obama only among defense contractors during one of the first months of 2008. In February, she raised $74,000 from defense employees to Obama's $66,000. Obama beat out Clinton in March.
The figures appear in an article by Brody Mullins in Saturday's Wall Street Journal, and are drawn from the Center for Responsive Politics, a watchdog group.
McCain is catching up. Known for his repeated brouhahas with big business, McCain only outpaced Obama in March -- in energy, agribusiness, construction, transportation, finances, insurance and real estate.
An Obama spokesman, Tommy Vietor, contested the idea that Obama's newfound business success would displace his image as the candidate of small donors.
Vietor told Mullins the average donation to Obama remains $96, and "includes Americans from all walks of life who are employed by many different companies."
Thomas Depetrillo, an investment banker in Rhode Island and heavyweight Democratic donor told Mullins he gave money to Clinton last year because he was "just being supportive." This year, however, he gave $2,300 to Obama, the maximum allowable by law.
"I was inspired by his youth and new approach to politics," Depetrillo remarked.