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
    • Advertise
    • Contact
    • Editorial Staff
    • 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

  • Principal builds momentum for 2026 after a strong Q4
  • Planning for a retirement that could last to age 100
  • Tax filing season is a good time to open a Trump Account
  • Why aligning wealth and protection strategies will define 2026 planning
  • Finseca and IAQFP announce merger
More Advisor News

Annuity News

  • Half of retirees fear running out of money, MetLife finds
  • Planning for a retirement that could last to age 100
  • Annuity check fraud: What advisors should tell clients
  • Allianz Life Launches Fixed Index Annuity Content on Interactive Tool
  • Great-West Life & Annuity Insurance Company Trademark Application for “SMART WEIGHTING” Filed: Great-West Life & Annuity Insurance Company
More Annuity News

Health/Employee Benefits News

  • Stop VA Claim Sharks: Why MOAA Backs the GUARD VA Benefits Act
  • Soaring health insurance costs, revenue shortfalls put pressure on Auburn's budget
  • Medicare Moments: Are clinical trial prescriptions covered by Medicare?
  • Blue Cross Blue Shield settlement to start payouts from $2.67 billion class-action suit
  • Why the Cost of Health Care in the US is Soaring
More Health/Employee Benefits News

Life Insurance News

  • The insurance industry must embrace change like never before
  • With recent offerings, life insurance goes high-tech
  • Symetra Launches New Chapter of ‘Plan Well, Play Well’ Campaign With Sue Bird
  • Best’s Market Segment Report: Caribbean Insurers’ Reinsurance Costs and Capacity Constraints Moderate, Although Climate Vulnerability Remains
  • Outlook 2026: With recent offerings, life insurance goes high-tech
Sponsor
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

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

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

LIMRA’s Distribution and Marketing Conference
Attend the premier event for industry sales and marketing professionals

Get up to 1,000 turning 65 leads
Access your leads, plus engagement results most agents don’t see.

What if Your FIA Cap Didn’t Reset?
CapLock™ removes annual cap resets for clearer planning and fewer surprises.

Press Releases

  • LIDP Named Top Digital-First Insurance Solution 2026 by Insurance CIO Outlook
  • Finseca & IAQFP Announce Unification to Strengthen Financial Planning
  • Prosperity Life Group Appoints Nick Volpe as Chief Technology Officer
  • Prosperity Life Group appoints industry veteran Rona Guymon as President, Retail Life and Annuity
  • Financial Independence Group Marks 50 Years of Growth, Innovation, and Advisor Support
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
  • Advertise
  • Contact
  • Editorial Staff
  • 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.
Insurance News | InsuranceNewsNet