Five and Still Counting

The message of the campaign brochure was slick and soothing: "Bentsen. He dreams dreams. But he doesn't chase rainbows." In announcing his candidacy last week for the 1976 Democratic presidential nomination, Senator Lloyd Bentsen of Texas was nonetheless pursuing a decided long shot. He made the announcement first in the Senate Caucus Room in Washington, then on the same day flew down for an instant replay for the home folks at Houston's Rice Hotel. Bentsen, 54, became the fifth Democrat on a list that could contain more than ten names before the longest presidential campaign in American history ends 20 months from now.* Flanked by his parents, Wife Beryl Ann, 53, and three children--Lloyd III, 30, Lan, 27, and Tina, 23--Bentsen told some 1,800 cheering supporters that he would bring his 26 years of political and business experience to the restoration "of an economic system which provides diversity of opportunity for earning a living and gives meaning to the dream of individual independence."

With steel gray hair, impeccable tailoring and only the slightest trace of a Texas accent, Bentsen displays none of the back-slapping machismo associated with the stereotyped Texas politician. The more than $1 million in campaign donations he has collected so far places him third in the race for funds--behind Scoop Jackson, who has collected nearly $1.5 million, and Alabama Governor George Wallace, who has pulled in $1.8 million. Most of Bentsen's money has come from fellow Texans (including $365,000 from a single Texas dinner). He made a name for himself on the hustings with party pros --and potential key convention delegates--while he was chairman of the Democratic Senatorial Campaign Committee in 1973-74.

The son of a millionaire land speculator, Bentsen won election to Congress in 1948, but left after three terms when he became disheartened by his relative lack of influence. He also wanted to make some money. He returned to Texas in 1954, entered the insurance business, and eventually merged his small-volume company with a prospering insurance firm in Lincoln, Neb. The merged outfit grew to become a major holding company with interests ranging from funeral homes to savings and loans, and by 1971 Bentsen had accumulated a personal fortune of $2.3 million. As a seasoned manager, he was asked to sit on the boards of Lockheed, Continental Oil and other large corporations.

Since he re-entered politics by winning election to the Senate in 1970, Bentsen has tried to alter his reputation as a conservative. Once a firm booster of the aerospace industry and a staunch supporter of the Viet Nam War, he has moderated his stance in recent years by voting against the ssx and opposing additional military aid to South Viet Nam. In an unusual move for a Texan, he has proposed the elimination of the oil depletion allowance for the major oil producers. He insists, however, that the allowance should be continued "for the small, independent producers who drill 80% of the wells in this country" and do not have the resources for exploration of the majors.

Quizzical Looks. Bentsen and his wife maintain a luxury condominium apartment in Washington and sometimes spend weekends at their Brazoria County, Texas, estate. He likes good wine and regularly plays tennis with his wife. As a member of the Senate Finance Committee and the Joint Economic Committee, Bentsen has earned the respect of colleagues as a hard-working and effective legislator. Developing specifics for his proposals, schooling himself in foreign policy, and marshaling voter support outside Texas are among the uphill tasks Bentsen faces now. "I find a few more people in airports taking a quizzical look at me," he says, "as if I were someone they ought to recognize."

* The other Democratic candidates in the order of their announcements so far: Arizona Representative Morris Udall, onetime Georgia Governor Jimmy Carter, former Oklahoma Senator Fred Harris and Washington Senator Henry Jackson.

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