Independent GOP groups spent $370,000 to back de la Piedra in Assembly race - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
May 13, 2014 Newswires
Share
Share
Post
Email

Independent GOP groups spent $370,000 to back de la Piedra in Assembly race

Timm Herdt, Ventura County Star, Calif.
By Timm Herdt, Ventura County Star, Calif.
McClatchy-Tribune Information Services

May 14--An independent expenditure group called Spirit of Democracy California, funded almost exclusively by the son of Warren Buffett's billionaire business partner, has purchased $300,000 in television commercials to support a candidate in Ventura County's44th Assembly District.

Reports filed with the secretary of state this week show that the group funded by Charles Munger Jr. spent the money Monday for production costs and the purchase of television commercial time to promote the candidacy of Republican Mario de la Piedra, of Camarillo.

Munger, who spent more than $40 million on political campaigns in California two years ago, has been the major financial force in attempting to promote moderate Republican candidates in the state. In April, Munger donated just less than $1 million to the Spirit of Democracy group.

De la Piedra, owner of an insurance business, is one of two Republicans in the primary, competing against Rob McCoy, a conservative evangelical pastor from Newbury Park.

The top two finishers in the June 3 primary, regardless of party, will advance to the November ballot. Analysts believe it is likely that Thousand Oaks City Councilwoman Jacqui Irwin, the sole Democrat in the primary, will win one of the top two spots, leaving de la Piedra and McCoy to compete for the other.

Under state campaign finance law, independent expenditure groups can spend unlimited amounts of money in support of or opposition to a candidate, but may not communicate or coordinate their activities with the campaign organization controlled by the candidate.

"Clearly, Mario has made a very positive impression on the Republican leadership in California," said Jason Roe, strategist for the de la Piedra campaign. "People like Charles Munger see him as a standout. Mr. Munger's resources certainly make it easier to get Mario's message out."

Jonathan Wilcox, strategist for the McCoy campaign, said he is "not too worked up about" the infusion of outside money into his opponent's campaign. "Maybe Mario is the Blanche DuBois candidate, being dependent upon the kindness of strangers," he said, referring to the character in the Tennessee Williams' play "Streetcar Named Desire."

"The contributions that come from far away, I don't think they will have the impact some people think they will," Wilcox said.

Since the beginning of April, de la Piedra has been the beneficiary of more than $370,000 in independent expenditures. In addition to the $300,000 from the Munger-backed group, the California Chamber of Commerce's JobsPAC has spent $42,500, and GROW Elect, a group that supports Latino Republican candidates, has spent $30,500.

De la Piedra's campaign got off to a late start, as he entered the race in the week before the filing deadline. His campaign fundraising has lagged significantly behind that of McCoy.

As of the most recent reporting date, March 24, de la Piedra had just $32,530 in his account, compared to McCoy's $89,318. An updated report must be filed next week, but based on daily reports of large contributions, it appears the McCoy campaign has since increased its lead.

"I think the McCoy campaign likes where it is," Wilcox said.

Reports show that the McCoy campaign has also been the beneficiary of large contributions from afar. An analysis of McCoy's contributions shows that his campaign has directly received $16,800 from billionaire Texas brothers Dan and Farris Wilks and their wives. The Wilks family financially supports conservative Christian causes nationwide.

McCoy has also received $8,200 from the Kentucky-based political action committee controlled by Sen. Rand Paul, R-Kentucky.

Under state law, contributions to a candidate-controlled campaign committee are limited to $4,100 per election cycle. Donors are allowed to contribute $4,100 for the primary campaign and another $4,100 for the general election campaign..

___

(c)2014 Ventura County Star (Camarillo, Calif.)

Visit Ventura County Star (Camarillo, Calif.) at www.vcstar.com

Distributed by MCT Information Services

Wordcount:  628

Advisor News

  • Addressing the longevity paradox
  • Employers shift focus from retirement access to financial outcomes
  • Helping widowed clients navigate their new financial reality
  • Navigating client communication in a digital age
  • Can your advisory firm survive without you?
More Advisor News

Annuity News

  • Farm Bureau P&C insurers post first underwriting gain since 2021
  • Legacy Marketing, Malibu Life launch two fixed indexed annuities
  • Changing client priorities are reshaping annuity conversations
  • Solen Software acquires annuity software provider Cooperative Technologies
  • MassMutual Expands Lending Options With New Secured Credit Line
More Annuity News

Health/Employee Benefits News

  • AmeriHealth Caritas to join Ohio Health Insurance Marketplace in 2027
  • Legislators hear report on thin hospital margins, advance prior authorization reform
  • As Children’s Mercy is dropped by ACA Marketplace, MO insurance group makes statement
  • 87,000 Iowans face Medicare plan cancellations
  • Medicare plans to change
More Health/Employee Benefits News

Life Insurance News

  • Agents often missing from the loop on life, LTC insurance rate increases
  • Meiji Yasuda Life Insurance Company Trademark Application for “PEACE OF MIND, FOREVER” Filed: Meiji Yasuda Life Insurance Company
  • SoFi and Prudential Financial team up to expand access to life insurance
  • Group 1001 Companies Secure $120,000 for Habitat for Humanity of Boone County Through Federal Home Loan Bank of Indianapolis Match
  • Americans Worry They Can’t Afford Health Care in Retirement, Allianz Life Study Finds
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Benefits Studio Launches to Fill the Missing Middle of Benefits Navigation at $49/mo
  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.