Insurance Commissioner Steve Poizner made official Monday what's been expected for months: He's formally exploring a run for governor in 2010.
The state's top-ranked Republican after Gov. Arnold Schwarzenegger, Poizner filed paperwork to open an exploratory committee to succeed the actor-turned-politician in 2010.
"I believe in California, and I understand that meeting the challenges of the 21st century requires new and innovative ideas," Poizner said in a prepared statement.
A multimillionaire from his days in Silicon Valley, Poizner has spent more than $24 million of his own money to launch his political career since 2004.
"It's a huge advantage that he has the finances," said Republican political strategist Jeff Flint, who is unaffiliated with any campaign.
A graduate of Stanford business school, Poizner founded and sold two high-tech companies, with the latter fetching $1 billion in 2000.
Poizner, however, didn't jump straight from the business world into politics, opting to pad his political résumé with a one-year White House fellowship, where he worked on anti-terrorism strategies.
He later volunteered at a public high school in a tough San Jose neighborhood.
He lost his first political campaign – a 2004 bid for state Assembly – despite spending $6.7 million of his own money.
Two years later, he won his post as insurance commissioner, chief regulator of California's multibillion-dollar insurance industry. He spent more than $12 million on that campaign.
Poizner is the second Republican to enter the race. Former congressman and state budget director Tom Campbell formed an exploratory committee in July.
Meg Whitman, the former CEO of eBay (and a billionaire herself), is also considering a run. A top adviser to Sen. John McCain, Whitman has repeatedly said she won't look seriously at the race until after the presidential election.
All three fashion themselves as social moderates and fiscal conservatives. That could leave an opening for a more conservative candidate.
But Poizner is already trying to lock down support from GOP officeholders.
He rolled out the endorsements of 21 Republican lawmakers and two other elected GOP officials on Monday.
On the Democratic side, San Francisco Mayor Gavin Newsom and Lt. Gov. John Garamendi are officially exploring runs. Other Democrats said to be eyeing the race include Attorney General Jerry Brown, Sen. Dianne Feinstein, Los Angeles Mayor Antonio Villaraigosa and state Superintendent of Public Instruction Jack O'Connell.
Call Shane Goldmacher, Bee Capitol Bureau, (916) 326-5544.
About Comments
Reader comments on Sacbee.com are the opinions of the writer, not The Sacramento Bee. If you see an objectionable comment, click the "report abuse" button below it. We will delete comments containing inappropriate links, obscenities, hate speech, and personal attacks. Flagrant or repeat violators will be banned. See more about comments here.