From The Chicago Sun-Times:

Sky's the limit in Senate race

August 7, 2002

BY STEVE NEAL SUN-TIMES COLUMNIST

Investment banker Blair Hull, a multimillionaire, is Mayor Daley's choice for the Democratic nomination to run against Sen. Peter Fitzgerald (R-Ill.) in 2004, according to knowledgeable sources.

Hull, 59, is also likely to have Rod Blagojevich's support for the '04 Democratic senatorial nomination. He was among Blagojevich's earliest allies in the Democratic gubernatorial primary and provided him with critical financial support.

If Blagojevich goes on to win the governorship, and Daley sticks with Hull, the multimillionaire would be the early favorite for the senatorial nomination. It was at Daley's suggestion that Hull decided to run against Fitzgerald.

When Hull explored a possible run in the 5th Congressional District last winter, Daley asked him to step aside in favor of former White House aide Rahm Emanuel. By doing what the mayor wanted, Hull got Daley's encouragement to run for a better job.

An '04 Hull-Fitzgerald race would get national attention as the battle of the multimillionaires. In 1998, Fitzgerald spent $14 million of his personal fortune to take former Sen. Carol Moseley-Braun's seat. Fitzgerald is the heir to a banking fortune. His father sold their family's group of northwest suburban banks to the Bank of Montreal for $500 million. Hull has even deeper pockets. Three years ago, he sold his trading firm to Goldman Sachs for $531 million. Hull is vowing to spend up to $40 million to win Fitzgerald's seat.

Moseley-Braun, former Chicago School Board president Gery Chico, state Comptroller Dan Hynes, Cook County Treasurer Maria Pappas, Rep. Janice D. Schakowsky and state Sen. Barack Obama are Hull's potential rivals for the '04 Democratic nomination. Chico, Daley's former chief of staff, intends to seek the Democratic nomination even if his former boss is with Hull. Hynes, who won his current job with the mayor's help, has been encouraged to run for the Senate by other members of the Daley family. But the mayor regards Hull as a stronger candidate because of his ability to fund his own campaign and help other Democrats.

Hull is already having an impact on the state's political scene. Former Chicago schools chief Paul Vallas, who narrowly lost the Democratic primary to Blagojevich, said Hull's contributions to Downstate Democratic political committees made the difference in the outcome of the primary.

Hull donated more than $500,000 to Downstate county organizations and other groups to aid Blagojevich's candidacy. Without Hull's aid, Blagojevich would have been edged out by Vallas.

This fall, Hull is taking an active role in the Democratic Party's coordinated campaign. State Democratic chairman Michael J. Madigan has welcomed Hull's input. He is likely to give more than $1 million to the Illinois Democratic cause. In addition to helping Blagojevich, Hull is serving on the finance committees for attorney general nominee Lisa Madigan and state treasurer nominee Thomas J. Dart.

Hull is also close to Patrick Quinn, the Democratic nominee for lieutenant governor. His $100,000 contribution to Quinn helped the former treasurer win the three-way primary. Hull was the single-largest donor to Quinn's campaign.

State Senate Minority Leader Emil Jones (D-Chicago) also has enlisted Hull to help win a Democratic majority for the first time in a decade. Democrats are favored to regain the Senate, having won the lottery to draw the new legislative map. But Jones, who isn't taking any chances, is getting a significant boost from Hull.

Hull, who is making contributions to dozens of legislative races, has hired 10 political operatives and paid for their training at a Washington, D.C.-based political institute. On their return to Illinois, these 10 Democratic operatives will be assigned to targeted senatorial races across the state.

By helping Jones to win the senate presidency, Hull is also building a statewide network for his own political future.

Hull, who has filed papers for his exploratory candidacy, is putting together his team for the '04 campaign. Rick Ridder, a Denver political consultant, and Fred Lebed, who has managed a dozen statewide races in Illinois, have signed up as senior strategists. James O'Connor, a former aide to Cook County Board President John Stroger, is Hull's political director. Media strategist Anita Dunn of Washington, D.C., who is producing television spots for Blagojevich, also is working for Hull. Anna Bennett, a Washington-based pollster, has conducted a benchmark survey for Hull.

If Hull and Fitzgerald are their party's respective nominees in '04, the Illinois senatorial race could break all spending records. You don't have to be a millionaire to run for the U.S. Senate. But it helps.