Wealthy retirees pump personal fortunes into governor race

Published on Thursday, 12 April 2018 20:46
Written by The Associated Press

HARTFORD (AP) - Campaign finance filings show that two wealthy retired businessmen running for governor are pouring hundreds of thousands of dollars of their own money into their campaigns.

The Hartford Courant reports that Republican Bob Stefanowski, a former executive with General Electric and UBS, has given his campaign $500,000.

Democrat Guy Smith has loaned his campaign $200,000.

The political newcomers say they will skip the May party conventions, opting instead to gather thousands of signatures to get on the ballot for the primaries.

Smith, a former executive for the disaster relief organization Americares and beverage company Diageo, calls the convention process a “rigged system.”

Republican David Stemerman has raised $1.8 million, nearly all from the hedge fund manager’s personal bank account. He hasn’t yet announced whether he plans to skip the convention.

Posted in The Bristol Press, on Thursday, 12 April 2018 20:46. Updated: Thursday, 12 April 2018 20:48.