Why Willkie? From the endorsement:
We give our own support to Mr. Willkie primarily for these reasons: Because we believe that he is better equipped than Mr. Roosevelt to provide this country with an adequate national defense: because we believe he is a practical liberal who understands the need of increased production; because we believe that the fiscal policies of Mr. Roosevelt have failed disastrously; because we believe that at a time when the traditional safeguards of democracy are failing everywhere it is particularly important to honor and preserve the American tradition against vesting the enormous powers of the Presidency in the hands of any man for three consecutive terms of office.
Roosevelt went on to win 449 electoral votes to Willkie’s 82. (He won by 10 points in the popular vote.)