THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Thursday, August 11, 1994 TAG: 9408110547
SECTION: FRONT PAGE: A1 EDITION: FINAL
SOURCE: BY ALEC KLEIN, STAFF WRITER
DATELINE: RICHMOND LENGTH: Medium: 88 lines
Despite unveiling a formidable team of fund-raisers on Wednesday, independent U.S. Senate candidate J. Marshall Coleman will be hard-pressed to raise enough money to threaten his cash-rich opponents, political experts say.
To narrow the gap against GOP nominee Oliver L. North and Democratic incumbent Charles S. Robb, according to analysts, Coleman may be forced to reserve his financial strength until the final weeks of the campaign for a television advertising blitz.
``It's late, but not too late,'' said political analyst Thomas R. Morris, president of Emory and Henry College. ``His strategy is to hope he can hang in there down the stretch and find himself to be the major alternative to Ollie North or Chuck Robb.''
Coleman is dueling former Democratic Gov. L. Douglas Wilder for that distinction.
Coleman has begun to assemble the pieces. On Wednesday, he announced a 35-member finance committee that includes former Republican Gov. Linwood Holton, former U.S. Secretary of State Lawrence S. Eagleburger and Richard L. Sharp, chief executive officer of Circuit City Stores Inc.
``I think it shows we have the structure to get the financial job done,'' Coleman said in a news conference at the foot of Capitol Square in Richmond.
The committee also includes several lawyers, other corporate executives and Sheila Tate, former press secretary to First Lady Nancy Reagan and former campaign press secretary for President Bush.
``The list gives the campaign a degree of credibility, but it doesn't necessarily solve his financial problem, which is to try to raise large sums of money in an abbreviated time,'' said Robert D. Holsworth, a Virginia Commonwealth University political scientist.
The most recent campaign finance reports show that Coleman, a former Republican state attorney general, had raised $135,000 as of June 30. North, on pace to break the record for contributions to any Senate candidacy, had collected more than $7 million from January to June 30. Robb collected more than $1.1 million over that time.
Wilder, also facing an uphill financial fight, had gathered $40,158 as of June 30.
Coleman's fund-raising committee members face another, more personal, problem. Most are Republicans. By helping Coleman, they are risking their standing in the party.
The party will not take any action against members who support Coleman, said Patrick M. McSweeney, chairman of the state GOP. But, he added, ``they pay the price'' in other ways.
For example, he said, rank-and-file Republicans may not back Coleman supporters who want to become delegates to a Republican national convention, or pursue judgeships and appointments to boards and commissions.
The risk could be great, particularly given the long odds against Coleman's success. Coleman has trailed badly in recent polls, finishing last in one conducted by VCU last month.
``There are some impressive names on the (fund-raising) list, but the real question is, how much can they raise?'' said Larry J. Sabato, a University of Virginia government professor. ``Both Coleman and Wilder depend on voters giving them a second look in October.''
Coleman would not estimate how much money he needs to win, but he said he doesn't have the expense of rebuilding his image. ``I'm not known for bad things, as my opponents are,'' he said.
None of the candidates can boast an unblemished record: North was a central figure in the Iran-Contra scandal, Robb has fought allegations of marital indiscretions, and Wilder was entangled in a public feud with Robb.
Coleman, too, faces questions about his electability. He lost the gubernatorial race twice, against Robb and Wilder, and failed to win the Republican nomination for lieutenant governor.
``He doesn't appear to pose any threat at all to Ollie,'' said North spokesman Dan McLagan.
Coleman, asked about his strategy, said, ``I will be competitive on the airwaves with these guys.''
Coleman must raise at least $2 million for an effective television campaign, analysts say. While the candidate has amassed a list of big-ticket fund-raisers, he still is hampered by federal election laws that limit contributions to $1,000 by individuals and $5,000 by political action committees.
``No doubt, it is an uphill climb (for Coleman),'' said Holsworth of VCU. ``And it's late in the game to start raising money.'' ILLUSTRATION: Color photo
For J. Marshall Coleman, money is a major campaign obstacle.
KEYWORDS: U.S. SENATE RACE CANDIDATE by CNB