I'll try to explain Cappiello's mumble-jumble.
First, Cappiello's camp is going to report that they raked in 446K this quarter and they've already released a statement proclaiming that they had a GREAT quarter.
The numbers sounds good right? Well, not so fast...when you look closer at the numbers and actually break things down, it becomes very clear that Cappiello didn't have quite the breakout quarter that he's going to proclaim. You see, Cappiello has a rather complex money tree which requires a manual to understand.
Let's take it step by step.
Cappiello has two money trees, one is his campaign's account called Committee to elect Cappiello for Congress. The other (where a MAJORITY of his contributions came from this quarter) is the Cappiello-Connecticut Victory 08, a joint fundraising account created by the Connecticut Republicans and the Cappiello camp.
When you look at BOTH accounts, you notice that the Cappiello-Connecticut Victory 08 account raised over 300,000 this quarter. This money came primarily from one source...the Bush-Kissinger taxpayer-funder fundraiser from earlier this year hosted by the ConnecticutGOP. You know, the fundraiser that cost guests a whopping 1,000 per head to attend (it was reported that the affair netted about 750,000).Take the cash from the fundraiser out of the picture (aprox 300,000) and when you look at the campaign's report, you notice that the Cappiello campaign actually only raised $123K from direct contributions this quarter.
So, in the end, Cappiello numbers aren't really what they appear to be. That's not to say that Cappiello isn't in decent shape BUT when you hear Cappiello's spin, read between the lines and take a look at where his money actually came from.
I'll have more on this later...
UPDATE: Genghis over at CTLocalPolitics also did a breakdown of Cappiello's numbers.
