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Obama coming to Corona del Mar

A breakfast for the president is Feb. 16, with proceeds benefiting his reelection campaign and the Democratic National Committee.

February 01, 2012|By Mike Reicher
  • President Barack Obama addresses the crowd during a town hall meeting at the Orange County Fairgrounds in 2009.
President Barack Obama addresses the crowd during a town… (File Photo, Daily…)

President Obama plans to raise funds in Newport Beach this month during a swing through Southern California.

A Corona del Mar couple recently announced they will host a breakfast for the president Feb. 16, with proceeds benefiting Obama's reelection campaign and the Democratic National Committee.

While Newport is better known as a Republican Party fundraising bastion, Obama raised more than $1 million here in a 2008 campaign stop at the Balboa Bay Club. Local Democrats say they expect another strong showing.

"We're very excited," said Suzanne Savary, president of Newport Beach Women's Democratic Club.

Obama's breakfast is scheduled at the home of Jeff and Nancy Stack in a sprawling complex overlooking Little Corona beach. Jeff Stack is the managing director of Irvine-based developer Sares-Regis Group, and Nancy Stack heads their nonprofit, the Cystinosis Research Foundation.

The two have contributed a combined $10,000 — the legal limit — directly to Obama's campaign.

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An affiliated political action committee, the Obama Victory Fund, is coordinating this and similar Southland fundraisers. The group sends individuals' first $5,000 to the campaign and the remainder to the DNC. Admission ranges from $2,500 for the breakfast only to $35,800 to greet the president.

The night before, Obama plans to hold a fundraiser at the Holmby Hills estate of a soap opera producer.

Hollywood is a key funding source for Obama, but Newport Beach residents have supported Republican presidential nominee front-runner Mitt Romney more during this campaign.

According to federal campaign records, Romney has raised $255,000 from Newport and Corona del Mar residents to Obama's $100,000. Former Speaker of the House Newt Gingrich has raised $12,575.

mike.reicher@latimes.com

Twitter: @mreicher

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