Money woes? Giuliani staffers forgo pay

January 11, 2008 11:58:50 AM PST
ABC News has learned that Giuliani campaign national finance co-chair Roy Bailey has stepped down to return to the private sector, to his post at Giuliani Partners. Bailey stepped down from the volunteer position in December in order to focus on the needs of the business, which has made the former mayor a multimillionaire. He had traveled a great deal as national chair but felt he could no longer maintain that schedule or commitment to the campaign of Giuliani.

The other national finance co-chair for the campaign, Jim Lee, remains in his position.

After reports surfaced that senior staffers for Giuliani's campaign took January pay cuts, Giuliani's campaign manager described the move as one that would allow the campaign to maximize resources and denied money woes for the Republican candidate.

"Many on the campaign team joined Rudy when the pundits were saying he couldn't win," Mike DuHaime told ABC News. "We joined because we believe he would be a great President, not for a paycheck. This does not affect the vast majority of the staff."

Responding to these reports, the Giuliani campaign released 4th quarter financials. At the end of December, the campaign had $12.7 million on hand, $7 million of which can be used toward the primary.

Amid rumors last week that Giuliani staffers were forgoing January salaries, the campaign flatly denied to ABC News that that was the case. The campaign says things have changed in the last week: when it told ABC a week ago that the pay cut story wasn't true it was "because it was inaccurate a week ago."