Scared away: Sen. Dianne Feinstein is going to be tough to beat in her re-election bid next year - and the GOP knows it. But frankly, I’d never heard of Bill Mundell until today:

Bill Mundell, the only Republican making serious preparations to challenge U.S. Sen. Dianne Feinstein’s bid for reelection, said Tuesday he has decided not to run, leaving the GOP with no clear contender for one of California’s top races for 2006.

The move by Mundell, an education software executive, reflects the difficulty Republicans face in finding a strong candidate to challenge the popular Democratic incumbent.

In an interview, Mundell said he was willing to spend several million dollars of his own money on the race, but would have needed to collect much more from donors to mount a viable campaign. He said his conversations with the party’s major contributors in California made clear that donors do not plan to put substantial money behind any push to oust Feinstein, and he had no interest in running a “vanity campaign.”

Mundell, chief executive of Vidyah Inc., had raised his public profile this year as a major supporter of Gov. Arnold Schwarzenegger’s Nov. 8 ballot measure to strip state lawmakers of their power to draw district maps for themselves and members of Congress.