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Campaign Finance From Treasurer’s Race

January 31, 2011
tags: 2011 Treasurer, fundraising, Lee Yancey, Lucien Smith, Lynn Fitch
by Brett

The 2010 reports from the three main candidates (at this point) to replace Tate Reeves as state treasurer:

** We mentioned this earlier but Lucien Smith, in filing out a political committee report for 2010, reported more than $256,000 raised in his bid for treasurer (which he hasn’t publicly declared yet). View the report here.

** Lynn Fitch, who hasn’t publicly announced her candidacy for treasurer yet either but did fill out the candidate report, showed more than $163,000 raised in 2010. This includes two separate donations totaling $125,000 from William Fitch. View the report here.

** State Sen. Lee Yancey posted his fundraising numbers this evening. It looks like the file on the Secretary of State’s website has been corrupted, but you can view the report here. Yancey raised a little more than $40,000 last year and currently has about $71,000 cash on hand.

7 Comments leave one →
  1. MS GOP permalink
    January 31, 2011 7:05 pm

    Looks like Lucien Smith is the clear front-runner in this race.

    Two questions to to be answered:
    1) How much is William Fitch willing to spend on this race?
    2) Does Lee Yancey second guess his decision to give up a safe Rankin County senate district where he was unopposed in 2007?

  2. MS Politico permalink
    January 31, 2011 8:44 pm

    Lucien and Lynn are both bankrolling off their parents. Money is important in a down ballot races such a this, but Lucien is no frontrunner. He was staff counsel for Haley, not impressive by any means. Fitch is tainted goods. Yancey has strong conservative record in Legislature, financial experience, and network throughout state as a pastor. If Yancey can turn the tide in fundraising, he will bring home a victory Aug 2.

  3. Ivehadbetter permalink
    January 31, 2011 9:32 pm

    Bankrolling off of their parents? Lucien’s parents are clearly listed on the CFR and donated a relatively small portion of his total. Most of the big donors on his list don’t even know the Smiths. The only thing Lucien is reaping rewards from is excellent planning, a solid group of core supporters, and the support of the business community.

    Additionally, I wish people would quit giving the impression that Yancey has some lengthy career as a financial planner. The guy has been in financial “advising” since he joined the Senate three years ago.

    I will agree that, if Yancey can turn the tide on fundraising, it will give him a better shot in August. But, if Lucien doesn’t raise another dollar, and Yancey keeps raising funds at his current rate, Yancey will catch him at some point during Lucien’s first term as Treasurer.

  4. MS Politico permalink
    January 31, 2011 9:53 pm

    I never said lengthy experience, I said experience. Experience that Lucien clearly lacks.

    Serving in the legislature is nothing to brush off either. How a bill becomes a law is more complicated than the “I’m just a Bill” song. Knowing the nuts and bolts of working the legislature to get your legislation passed is a boon to the Yancey campaign.

    That being said, I think we can both agree this will be an interesting race to watch and Lynn Fitch is a non-factor barring a big money dump from her father that buys the election.

    I like to believe the voters in Mississippi, and more specifically, primary voters, are smarter than that.

    Keep up the great work MIM.

  5. J. Davis Covington permalink
    January 31, 2011 10:04 pm

    MS Politico – sounds like sour grapes to make up for the fact that Yancey is the at the bottom of the money race.

    One could argue that all three candidates have as much or more experience than Tate Reeves did at this point, and I think he’s been a very good treasurer.

  6. desotodad3 permalink
    February 1, 2011 10:49 am

    Not that I am a Tate Reeves fan, but he had more experience than these 3 combined. He has an MBA and a CFA, (Chartered Financial Analyst) He has probably been the most qualified Treasurer that MS has ever had.
    Yancy is a trained baptist preacher who now sells hedgefunds.
    SMith has the education
    I am not sure what Fitch has.

  7. Davis Covington permalink
    February 1, 2011 11:07 am

    That’s fair. I didn’t mean to undersell Tate’s qualifications. He has done an amazing job.

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