Rudy Giuliani 2008 presidential campaign in the Iowa Caucus. Some political observers have opined that the Straw Poll results are bought by campaigns. Giuliani had emerged as the frontrunner after overtaking John McCain in the polls. With the exposure and eventual entrance of Fred Thompson into the field, Giuliani's poll numbers began to drop. But he held on to his status as frontrunner. According to the CBS News Poll taken June 26–28, Giuliani held the lead over Thompson 34% to 21%. In the second quarter, Giuliani revealed that he raised $17 million, first among Republicans and third overall behind Barack Obama and Hillary Clinton. On
Giuliani Partners dependent upon Giuliani's star power, diminished due to Giuliani's absence during his campaign, which ended in late January 2008. Its client list and revenues decreased, and it went from about 60 to about 50 employees. During the 2008 presidential election efforting, Peter Powers was Chairman and Chief Executive Officer of Giuliani Partners; he replaced Giuliani in this role in June 2007, as Giuliani was in midst of his campaign for president. Peters was formerly a deputy mayor of New York, Giuliani subsequently returned to work at the firm, splitting time between it and the law firm Bracewell & Giuliani. The