The official election is more than a year away; but the Democratic party is trouncing the Republics in the CEO money primary. According to Bloomberg News, some of George W. Bush's top 2004 fund-raisers, are now helping Democrats running for president.

Among the 60 executives writing checks to Democrats such as Senators Hillary Clinton of New York and Barack Obama of Illinois are these formerly pro-Bush CEOs:

• Morgan Stanley's (NYSE: MS) CEO John Mack, a Bush Ranger, held a fund-raiser for Clinton in July. He wrote to his executives "I personally believe that [the best] person [running for president in 2008] is Hillary Clinton."
• Yahoo Inc.'s (NASDAQ: YHOO) former CEO Terry Semel gave $2,000 to Bush in 2004 and $50,000 to the Republican National Committee. Semel has given the maximum, $4,600, to Clinton and $2,300 to Obama.
• News Corp. (NYSE: NWS) CEO Rupert Murdoch, who donated $25,000 to the Republican National Committee in 2004, has given Clinton $2,300.

Why signs of prominent defections to the Democratic party? Some executives expressed concern over Republican positions on issues ranging from the war in Iraq and stem-cell research to global warming and the fiscal deficit. But the big reason may be that these CEOs want to be on the side of the 2008 winners.

And Murdoch is among the CEOs in a position to influence the outcome.

Peter Cohan is president of Peter S. Cohan & Associates,. He also teaches management at Babson College and edits The Cohan Letter. He has consulted to News Corp.'s CEO and has no financial interest in the securities mentioned.