If the buzz on the street is correct we will see at least two indictments next week, resulting from campaign finance irregularities by Bev Perdue’s gubernatorial campaign. We are hearing there might be two surprises: one is who won’t be indicted, the other is who will be. All agree that Perdue won’t be but indictments will come very close to her, with one long-time supporter and her campaign fundraiser reportedly in DA Colon Willoughby’s crosshairs.

Many are speculating how this will affect Perdue’s re-election chances and a consensus is forming she can’t survive many more blows to her already low popularity ratings. Talk is focusing on possible Democratic primary candidates, which is why you saw Bill Faison send up trial balloons a week ago. Despite his on-again, off-again candidacy, few of the party faithful got excited about his offering. AG Roy Cooper’s name has been mentioned, as has Lt. Governor Walter Dalton’s, but both are dismissed as unable to top the campaign from former Charlotte Mayor, Republican Pat McCrory.

Only two names seem to generate excitement as possible replacements for Perdue: former UNC President Erskine Bowles and former House Speaker Dan Blue. Neither has indicated interest but both have attempted statewide campaigns in the past; neither has been successful and again the question is whether either could beat McCrory. Look for speculation to escalate, as less than half a year remains before May’s primary elections.  There remains plenty of time to organize and stage a campaign but no time to tarry.

Meanwhile, Governor Perdue is preparing for a trade mission to China next month. Questions are emerging about the costs and propriety for such a trip. We understand much of the funding is provided by a group called “Friends of North Carolina,” a nonprofit housed within the NC Department of Commerce. The fund’s IRS tax form 990 for 2010 indicates the organization received more than $421,000 in 2009 and $231,000 in 2010. Who are these friends? We’re told that Lenovo and Longistics, both with a strong presence in RTP and China, are among the big contributors and the published itinerary for the China trip indicates receptions will be held with both organizations while there.

Unless she brings back solid plant relocation announcements this economic development trip is likely to add further fuel to the fire that Bev Perdue will be the first one-term governor since succession was passed in the 1970’s.