Buffett's Berkshire Hathaway Inc. to buy $3 billion in GE preferred shares

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General Electric Co. said investor Warren Buffett's Berkshire Hathaway Inc. will buy $3 billion in preferred shares and that GE plans to offer $12 billion in common stock, bolstering its cash cushion in volatile markets.

Buffett's stake will pay an annual 10 percent dividend and is callable after three years at a 10 percent premium, Fairfield, Connecticut-based GE said today in a statement. The 78-year-old investor also gets warrants to buy $3 billion of common stock with a strike price of $22.25 a share for five years. The offering and stake accelerates the plan Chief Executive Officer Jeffrey Immelt announced last week to improve finances at GE, trying to ease investors who have reduced GE's market value by more than 40 percent in a year. The vote of confidence from Buffett, who struck a similar deal with Goldman Sachs Group Inc. last month, may further burnish GE, which already has maintained top-level AAA credit ratings through the global crisis.
``It's a screaming good deal'' for Buffett, said Frank Betz, a partner at Warren, New Jersey-based Carret Zane Capital Management, which holds Berkshire and GE shares. Carret Zane added to its GE holdings today before the Buffett deal was announced. ``GE is doing this in part to show that they can. They're strong when others are weak.'' GE fell 91 cents, or 3.7 percent, to $24.57 at 3:24 p.m. in New York Stock Exchange composite trading.

Buffett, in the statement, called GE the ``symbol of American business to the world.'' Spokeswoman Jackie Wilson didn't return a message seeking comment. ``I followed the company for a very long time,'' Buffett said in an interview on GE's CNBC television network. ``These markets are offering us opportunities that weren't available six months or a year ago.'' GE has said more than once in the past month it didn't need to raise outside capital. Immelt, 52, on Sept. 25 reduced his annual profit forecast for the second time this year and suspended a $15 billion buyback program, shifting capital to protect its dividend and AAA credit rating, the highest available, as volatility in credit markets reduced profit at its finance arm. The company earlier today said it has been able to sell corporate paper and fund operations without tapping bank lines, seeking to quash speculation that led to a surge in its credit default swaps and a slump in the stock. ``You take capital when it becomes available,'' William Batcheller, director of investment management at Butler Wick & Co. in Youngstown, Ohio, said of today's news. `` This is capital that, while it may not be cheap, can be used to expand the business and improve its profitability. It's certainly going to strengthen the balance sheet.'' Bank Lines The cash supports a Sept. 25 comment from Chief Financial Officer Keith Sherin that the $62 billion in bank lines backing up its corporate paper will ``absolutely not'' be tapped, an assertion GE repeated earlier today before the Buffett announcement. The company said it has slashed its commercial paper to below $90 billion, a goal Sherin announced last week. ``We believe that GE's plan to raise up to $15 billion in cash immediately to improve liquidity is prudent, given the distress and turbulence in the global financial markets, and should serve to bolster investor confidence,'' Standard & Poor's analysts Scott Sprinzen and Robert Schulz said in a statement today. GE's debt protection costs have more than doubled the past eight days on concerns that the company will have trouble refinancing commercial paper that it uses to fund operations and will have to tap backup credit lines from its bankers, said Tim Backshall, chief strategist at Credit Derivatives Research LLC in Walnut Creek, California, before the Buffett announcement. Unlike many banks and investment firms, GE still expects to make a profit at its finance arm this year. The finance profit may exceed $9 billion, including $2 billion in the third quarter, the company said Sept. 25. Buffett, in his Sept. 23 deal with Goldman Sachs, agreed to buy $5 billion in preferred shares with a 10 percent annual dividend. He also got warrants to buy $5 billion of Goldman common stock at $115 a share. Based on the closing price on the day of the deal, he had an instant paper profit of $437 million on the warrants that day.

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Berkshire Hathaway: Information from Answers.com
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BRK.A - BloggingStocks
... preferred stock with a 10 percent dividend. Berkshire also gets warrants to buy $5 billion ... GE shares, is a lifelong Red Sox fan, and has no financial interest in Berkshire Hathaway ... Buffett's holding company, Berkshire Hathaway ...
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Buffett's MidAmerican Energy rescues Constellation - Sep. 18, 2008
... unit of Warren Buffett's Berkshire Hathaway Inc., said Thursday it will buy Constellation Energy Group Inc. for $4.7 billion ... will issue $1 billion in preferred ... Shares of ...
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Posts tagged Berkshire hathaway at BloggingStocks
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The Value Machine Warren Buffett's Berkshire Hathaway is ...
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GE Raises $15 Billion; Buffett Gets Preferred Stake (Update3)
Oct. 1 (Bloomberg) -- General Electric Co. said investor Warren Buffett 's Berkshire Hathaway Inc . will buy $3 billion in preferred shares and that GE plans to offer $12 billion in common stock, bolstering its cash cushion in volatile markets ...
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Source: Bloomberg
NewsDateTime: 42 minutes ago

Buffett To Buy $3B Of GE Preferred Stock
Buffett To Buy $3B Of GE Preferred Stock; Conglomerate To Sell At Least $12B Shares To Public ... AP) Warren Buffett's Berkshire Hathaway Inc. is investing $3 billion in General Electric Co., a huge vote of ...
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Source: CBS News
NewsDateTime: 1 hour ago

Warren Buffett invests $3 billion in GE
... Buffett's Berkshire Hathaway is buying $3 billion worth of General Electric preferred shares, even as the diversified conglomerate is preparing to sell at least $12 billion worth of common stock to the public. GE says Berkshire Hathaway Inc ... GE says Berkshire Hathaway Inc. will buy $3 billion of perpetual preferred ...
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Source: MSNBC
NewsDateTime: 1 hour ago

GE to raise $15 bln, Buffett gets preferred stake
It was the second big strategic investment by Buffett's Berkshire Hathaway Inc (nyse ... when a very smart investor decides 'I am going to buy low, and this is it."' 'EXTREMELY ATTRACTIVE PRICES' Berkshire is buying $3 billion of preferred GE shares that ...
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Source: Forbes
NewsDateTime: 28 minutes ago

INSTANT VIEW: Buffett to invest $3 billion in GE shares
... 3 billion of preferred shares to Warren Buffett's Berkshire Hathaway Inc ... of preferred shares to Warren Buffett's Berkshire Hathaway Inc, with another $12 billion in common shares going to the public. The news erased an earlier fall in GE ... to buy ...
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Source: Reuters
NewsDateTime: 2 hours ago




Investment tycoon Warren Buffett agreed Wednesday to invest three billion dollars in US conglomerate General Electric, expressing confidence in the company's long-term outlook. The move came as GE said it was selling at least 12 billion dollars in new shares in addition to the investment from Buffett, who will obtain preferred stock through his Berkshire Hathaway holding company. Buffett, who is ranked the world's second richest individual by Forbes magazine with an estimated worth of 50 billion dollars, will have an option to purchase an additional three billion dollars of the common shares. "GE is the symbol of American business to the world. I have been a friend and admirer of GE and its leaders for decades," Buffett said in a statement. "They have strong global brands and businesses with which I am quite familiar. I am confident that GE will continue to be successful in the years to come." GE chief executive Jeff Immelt said the investment "enhances our flexibility and allows us to execute on our liquidity plan even faster" and also "gives us the opportunity to play offense in this market should conditions allow." "The economic environment remains volatile," Immelt said. "However, the company's performance remains on track with the earnings guidance we provided last week for 2008." Last month, GE, a bellwether for the US economy, slashed its earnings guidance and warned of difficult times ahead due to the global credit crunch. In July, GE announced a new "simplified" organizational structure around four core segments as it set the stage for a spinoff of its consumer and appliance businesses. GE's divisions include Technology Infrastructure, which includes health care, aviation and transportation; and GE Energy Infrastructure, making generators, wind turbines and other equipment for the energy sector. GE Capital, another of the new segments, includes financial services including commercial finance and GE Money consumer finance. GE also controls NBC Universal, the media-entertainment powerhouse that includes NBC television and Universal Pictures.

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IWarren Buffett's Berkshire Hathaway Inc. will buy $3 billion in GE preferred shares

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General Electric Co. said investor Warren Buffett's Berkshire Hathaway Inc. will buy $3 billion in preferred shares and that GE plans to offer $12 billion in common stock, bolstering its cash cushion in volatile markets.

Buffett's stake will pay an annual 10 percent dividend and is callable after three years at a 10 percent premium, Fairfield, Connecticut-based GE said today in a statement. The 78-year-old investor also gets warrants to buy $3 billion of common stock with a strike price of $22.25 a share for five years. The offering and stake accelerates the plan Chief Executive Officer Jeffrey Immelt announced last week to improve finances at GE, trying to ease investors who have reduced GE's market value by more than 40 percent in a year. The vote of confidence from Buffett, who struck a similar deal with Goldman Sachs Group Inc. last month, may further burnish GE, which already has maintained top-level AAA credit ratings through the global crisis.
``It's a screaming good deal'' for Buffett, said Frank Betz, a partner at Warren, New Jersey-based Carret Zane Capital Management, which holds Berkshire and GE shares. Carret Zane added to its GE holdings today before the Buffett deal was announced. ``GE is doing this in part to show that they can. They're strong when others are weak.'' GE fell 91 cents, or 3.7 percent, to $24.57 at 3:24 p.m. in New York Stock Exchange composite trading.

Buffett, in the statement, called GE the ``symbol of American business to the world.'' Spokeswoman Jackie Wilson didn't return a message seeking comment. ``I followed the company for a very long time,'' Buffett said in an interview on GE's CNBC television network. ``These markets are offering us opportunities that weren't available six months or a year ago.'' GE has said more than once in the past month it didn't need to raise outside capital. Immelt, 52, on Sept. 25 reduced his annual profit forecast for the second time this year and suspended a $15 billion buyback program, shifting capital to protect its dividend and AAA credit rating, the highest available, as volatility in credit markets reduced profit at its finance arm. The company earlier today said it has been able to sell corporate paper and fund operations without tapping bank lines, seeking to quash speculation that led to a surge in its credit default swaps and a slump in the stock. ``You take capital when it becomes available,'' William Batcheller, director of investment management at Butler Wick & Co. in Youngstown, Ohio, said of today's news. `` This is capital that, while it may not be cheap, can be used to expand the business and improve its profitability. It's certainly going to strengthen the balance sheet.'' Bank Lines The cash supports a Sept. 25 comment from Chief Financial Officer Keith Sherin that the $62 billion in bank lines backing up its corporate paper will ``absolutely not'' be tapped, an assertion GE repeated earlier today before the Buffett announcement. The company said it has slashed its commercial paper to below $90 billion, a goal Sherin announced last week. ``We believe that GE's plan to raise up to $15 billion in cash immediately to improve liquidity is prudent, given the distress and turbulence in the global financial markets, and should serve to bolster investor confidence,'' Standard & Poor's analysts Scott Sprinzen and Robert Schulz said in a statement today. GE's debt protection costs have more than doubled the past eight days on concerns that the company will have trouble refinancing commercial paper that it uses to fund operations and will have to tap backup credit lines from its bankers, said Tim Backshall, chief strategist at Credit Derivatives Research LLC in Walnut Creek, California, before the Buffett announcement. Unlike many banks and investment firms, GE still expects to make a profit at its finance arm this year. The finance profit may exceed $9 billion, including $2 billion in the third quarter, the company said Sept. 25. Buffett, in his Sept. 23 deal with Goldman Sachs, agreed to buy $5 billion in preferred shares with a 10 percent annual dividend. He also got warrants to buy $5 billion of Goldman common stock at $115 a share. Based on the closing price on the day of the deal, he had an instant paper profit of $437 million on the warrants that day.
Investment tycoon Warren Buffett agreed Wednesday to invest three billion dollars in US conglomerate General Electric, expressing confidence in the company's long-term outlook. The move came as GE said it was selling at least 12 billion dollars in new shares in addition to the investment from Buffett, who will obtain preferred stock through his Berkshire Hathaway holding company. Buffett, who is ranked the world's second richest individual by Forbes magazine with an estimated worth of 50 billion dollars, will have an option to purchase an additional three billion dollars of the common shares. "GE is the symbol of American business to the world. I have been a friend and admirer of GE and its leaders for decades," Buffett said in a statement. "They have strong global brands and businesses with which I am quite familiar. I am confident that GE will continue to be successful in the years to come." GE chief executive Jeff Immelt said the investment "enhances our flexibility and allows us to execute on our liquidity plan even faster" and also "gives us the opportunity to play offense in this market should conditions allow." "The economic environment remains volatile," Immelt said. "However, the company's performance remains on track with the earnings guidance we provided last week for 2008." Last month, GE, a bellwether for the US economy, slashed its earnings guidance and warned of difficult times ahead due to the global credit crunch. In July, GE announced a new "simplified" organizational structure around four core segments as it set the stage for a spinoff of its consumer and appliance businesses. GE's divisions include Technology Infrastructure, which includes health care, aviation and transportation; and GE Energy Infrastructure, making generators, wind turbines and other equipment for the energy sector. GE Capital, another of the new segments, includes financial services including commercial finance and GE Money consumer finance. GE also controls NBC Universal, the media-entertainment powerhouse that includes NBC television and Universal Pictures.

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Title: Tom Brokaw interviews Warren Buffett
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Published on: 8/26/2007 12:33:39 PM
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Published on: 2/7/2008 8:07:27 AM

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Imclone in play

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The mystery bidder is Eli Lilly and Company

The German drugmaker Merck is also stirring up the pot, maybe in hopes of getting a piece of the ImClone pie.
Chairman Karl-Ludwig Kley said Tuesday that while Merck (other-otc: MKGAY - news - people ) wasn’t prepared to bid for all of ImClone (nasdaq: IMCL - news - people ), his company would be willing to toss around the idea of a partnership for purchasing the New York-based biotech, whose Erbitux cancer treatment it markets outside of North America.
ImClone invented Erbitux, but it shares the income with Bristol-Myers Squibb (nyse: BMY - news - people ) and Merck. Neither company seems anxious to alter the terms of its marketing deal, which would complicate a third-party bid for ImClone. Bristol-Myers holds 61.0% of the North American sales rights to Erbitux. (See "Bristol Can Live Without ImClone.") Merck owns 90.0% of the drug's international rights.
Kley also said on Tuesday that his company is not the mystery bidder that Chairman Carl Icahn has said is looking at ImClone. That was not much of an admission since Merck does not seem to have the $6.1 billion, or $70 a share, that Icahn said might be on the table; the billionaire investor said the bidder would not need to seek financing.
According to Erik Gordon, a management professor at Stevens Institute of Technology, Merck might be a threat to Bristol-Myers now, giving another third party some extra cash and an insider's view on Erbitux. "Bristol-Myers doesn't need cash from Merck to close the deal, and they don't need Merck's expertise in Erbitux," said Gordon. "Merck would get a better split by teaming with someone else, if they can. Bristol-Myers can't be happy about Merck's statement that it would in effect support a rival bid."
Bristol-Myers had no comment on Kley's statements.
On the other hand, the news from Merck could be exactly what shareholders of Bristol-Myers wanted to hear. After Bristol-Myers had its offers for ImClone rejected twice by Icahn, it could be looking to up the ante. A few extra bucks from Merck would make the offer a bit more appetizing to ImClone and would keep Bristol-Myers from diluting its share price with a higher offer. Icahn rejected Bristol-Myers first offer of $60 per share, or $5.2 billion, at the same time he announced that an unnamed "large pharmaceutical company" was conducting its due diligence and was offering $70 per share for the biotech, which makes Erbitux, a blockbuster colon cancer treatment. Two weeks later, Bristol-Myers increased its offer to $62 per share, or $5.4 billion for the entire company. Icahn again refused the offer. (See " Bristol-Myers Raises The Stakes For ImClone.")
That due-diligence period ended last week and there has been no word yet as to if the mystery company was following through on its bid. There was considerable buzz about the identity of the bidder and whether it even existed. (See "ImClone and The Phantom Bidder.") When Icahn revealed the offer, he mentioned that the company would not need extra financing to conduct the transaction. Shares of ImClone rose 44 cents, to close at $62.40, while Bristol-Myers gained 5.0%, or $1.00, to close at $20.85. Merck's stock was up in Frankfurt, rising 4.3%, or 1.45 euros ($2.05), to trade at 35.40 euros ($49.96).
Merck and ImClone have been fighting about royalties payments for Erbitux that the companies are required to pay for a patent infringement. The fight has gone to arbitration, where a third party will decide if Merck should be responsible for a portion of the royalties. (See "ImClone's New Erbitux Problem.")

ImClone Systems said yesterday the mystery suitor offering $70 per share for the biotechnology company is expected this week to either make a formal offer or walk away from the deal. If the suitor withdraws, ImClone said it would disclose the name of the "large pharmaceutical company" on Wednesday.

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Repligen announces settlement with ImClone in Erbitux lawsuit ...
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An ImClone Deal Will Get Done
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ImClone Deal Boosts Biotech ETFs (Exxon, Bristol-Myers, Squibb ...
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ImClone - Company Overview - Hoover's
ImClone Systems has got it in for the big "C." The biotechnology firm is focused on ... Hourly In Play (R) - 23:00 ET [Briefing.com] (25 Sep 2008 23:00:00 EDT) ...
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Germany's Merck interested, but not ImClone bidder
New York-based ImClone _ in play since Bristol-Myers Squibb Co. made a then-friendly acquisition offer on July 31 _ three weeks ago said a large pharmaceutical company it has yet to identify had made a $70 per share bid, worth about $6.1 billion.
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Source: FOX News
NewsDateTime: 9/30/2008

Sempra to wrap up acquisition
ImClone – in play since Bristol-Myers Squibb Co. made a then-friendly acquisition offer on July 31 – three weeks ago said a large pharmaceutical company it has yet to identify had made a $70 per share bid, worth about $6.1 billion.
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Source: San Diego Union-Tribune
NewsDateTime: 8 hours ago

Pfizer currently leads IGF development, metformin may enhance activity ...
... drug development related to the insulin-like growth factor (IGF) pathway, but faces competition from Roche, Amgen, ImClone ... metformin are known to reduce both glucose and insulin levels and are under study to see whether they have any role to play ...
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Source: Financial Times
NewsDateTime: 7 hours ago

Corporate report
New York-based ImClone -- in play since Bristol-Myers Squibb Co. made a then-friendly acquisition offer on July 31 -- three weeks ago said a large pharmaceutical company it has yet to identify had made a $70 per share bid, worth about $6.1 billion.
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Source: Herald Tribune
NewsDateTime: 6 hours ago

Hostiles Take Over
When ImClone Systems was approached by Bristol-Myers Squibb (which already held a 17 percent stake in the cancer-drug maker ... meriting a higher stock price, if not pricing itself out of contention altogether. At press time, the deal remained in play
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Source: CFO.com
NewsDateTime: 7 hours ago


Bristol-Myers Squibb, which employs more than 6,000 people in research and other operations in New Jersey, made an unsolicited bid for ImClone in July. ImClone, which focuses on the discovery of cancer drugs, rejected the initial $60-a-share bid as too low. Bristol-Myers last week sweetened the offer to $62 a share. ImClone chairman Carl Icahn has declined to name the mystery suitor, and Wall Street analysts speculate it could be one of a half dozen major drug companies. "That shows you that it would have to be one of the big pharmaceutical companies that are cash-rich" and probably have slow growth, said pharmaceuticals analyst Linda Bannister of Edward Jones. The companies with enough cash on their balance sheets at the start of the year to pay $6.1 billion for ImClone include Pfizer, Germany's Merck, Eli Lilly, Novartis and GlaxoSmithKline. "It wouldn't surprise me at all if Pfizer's taking a look," given ImClone is developing cancer drugs and oncology is a major therapy area for Pfizer, Bannister said. ImClone, which has major operations in Branchburg, put itself on the market in 2006, but failed to attract any bidders. When Bristol-Myers made its unsolicited offer, ImClone said it might break off the cancer drug Erbitux, its only product on the market, the cancer medicine, as a separate business. Bannister said the delay likely means ImClone is giving the suitor time to "become as comfortable as possible" with ImClone's pipeline and the question of whether Bristol-Myers retains significant rights to future sales of a successor to blockbuster Erbitux. The suitor might even lower its bid, she added. "The market's a little leery that a $70 offer's going to materialize," Bannister said, noting ImClone shares closed down 2.2 percent as the financial crisis on Wall Street battered shares of just about every sector.

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Title: Money Minute: Gas, Oil, ImClone, Mortgages
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Published on: 9/11/2008 3:31:38 PM
Title: Bristol-Myers Bids $5.2B For ImClone - Aug 1
Categories: News,Investor,Institutional,EMII,

Published on: 8/1/2008 6:36:56 AM
Title: M&A Update: Bidding War for ImClone?
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Published on: 9/11/2008 1:07:34 AM
Title: ImClone Received $70 Share Buyout - Sep 11
Categories: News,Investor,Institutional,EMII,

Published on: 9/11/2008 7:37:00 AM
Title: Bristol-Myers Raises Stakes in ImClone Purchase
Categories: Squibb,ImClone,stockholders,computer,engineer,News,biopharmaceutical,company,biologic,Bristol,Myers,medicine,health,

Published on: 9/25/2008 2:48:58 AM

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McCain and Obama about solving financial crisis

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Democrat Barack Obama and Republican John McCain, saying they are upbeat about the ability of Americans to bounce back from the current financial crisis, campaigned this morning before returning to Washington to vote on an emergency rescue package for Wall Street. Buoyed by polls showing he had built up a lead over his GOP opponent, Sen. Obama told supporters at a rally here that they can overcome the current financial woes that include tightening credit, a gyrating stock market and political questions about the proposed $700-billion bailout. "I know that many of you are feeling anxiety right now - about your jobs, about your homes, about your life savings. But I also know this - I know that we can steer ourselves out of this crisis because that's who we are," Obama said. "This is a nation that has faced down war and depression, great challenges and great threats. And at each and every moment, we have risen to meet these challenges -- not as Democrats, not as Republicans, but as Americans with resolve with confidence. With that fundamental belief that here in America, our destiny is not written for us, but by us. That's who we are, and that's the country we need to be right now," the Illinois senator said. Arizona Sen. McCain sounded a similarly optimistic tone in a visit to the Harry Truman Library Institute in Independence, Mo. "This is a moment of great testing," McCain said. "At such moments, there are those on both sides of this debate who will act on principle. Of course, there are always some who think first of their own interests, who calculate their own advantage instead of rushing to the aid of their country. "But in the case of this bill, I am confident there are enough people of good will in both parties to help see America through this crisis. And when the last vote is cast, we can be grateful to all of them -- Democrats and Republicans alike -- for helping to solve the crisis instead of merely exploiting it," he said. Both men praised the Senate version of the rescue bill that will be voted on today. The House rejected a version of the bill on Monday, but leaders have been working to sweeten the measure so that it will pass when it comes up again in the lower house. While the candidates outlined their economic policies, political insiders were trying to digest the latest polls showing that Obama had raised his standing since the pair debated last week.

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Jonathan Martin's Blog: Obama lays out broad principles on solving ...
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Financial crisis big factor for local voters
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McCain and Obama optimistic about solving financial crisis
LA CROSSE, Wisc. -- Democrat Barack Obama and Republican John McCain, saying they are upbeat about the ability of Americans to bounce back from the current financial crisis, campaigned this morning before returning to Washington to vote on an ...
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Source: Los Angeles Times
NewsDateTime: 29 minutes ago

Polls: More see Obama as helpful on economy
... over half of voters responding after the debate said Obama has been more helpful than harmful in solving the economic crisis, compared with 45 percent who said so of McCain. ... bailout bill isn't perfect but warned that the nation's financial crisis ...
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Source: The Washington Times
NewsDateTime: 1 hour ago

Obama Retakes the Lead, Polls Show
... trust Obama on the economy by at least 11 percentage points in each state. When asked whether the candidates’ roles in solving the economic crisis had been ... vote, say McCain did more harm than good in trying to resolve the financial crisis, and ...
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Source: Wall Street Journal
NewsDateTime: 1 hour ago

Giuliani talks up plan and McCain
Barack Obama for not playing a leadership role in solving the financial crisis while lauding McCain for his experience and foresight in dealing with the issue.
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Source: Citizen
NewsDateTime: 8 hours ago

McCain blames Democrats for bailout defeat
... depends on us taking immediate action to ease this crisis.” But the McCain camp upped the ante: “When Barack Obama ... elected officials put genuine management and problem-solving ... this evening, they are going to realize that this financial crisis ...
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Source: Boston Globe
NewsDateTime: 9/29/2008


According to a Quinnipiac University poll released today, Obama leads McCain, with his support at more than 50%, in three key states: Ohio, Florida and Pennsylvania. Combined, the states are worth 68 of the 270 electoral votes needed for victory on Nov. 4. Pollsters attributed Obama's improved standing to the public's general approval of his debate performance, antipathy toward GOP vice presidential nominee Sarah Palin and heightened confidence in the Illinois senator's ability to handle the economic crisis. "It is difficult to find a modern competitive presidential race that has swung so dramatically, so quickly and so sharply this late in the campaign. In the last 20 days, Sen. Barack Obama has gone from 7 points down to 8 points up in Florida, while widening his leads to 8 points in Ohio and 15 points in Pennsylvania," Peter Brown, assistant director of the Quinnipiac University Polling Institute, said in a statement on the university's website. "Sen. Obama clearly won the debate, voters say," Brown stated. "Their opinion of Gov. Sarah Palin has gone south and the Wall Street meltdown has been a dagger to McCain's political heart. Roughly a third of voters, and almost as large a share of the key independent vote, say McCain did more harm than good in trying to resolve the financial crisis, and the share of voters who see the economy as the top issue has risen from roughly half to six in 10." The results are notable because they show Obama in a strong position in the pair of states that put Bush in the White House in 2000 and kept him there four years later -- Florida and Ohio, with 27 and 20 electoral votes, respectively. Obama's growing popularity was also cited by the Pew Research Center for the People and the Press. Its poll showed that Obama moved to a 49%-42% advantage among registered voters after the debate. The race was virtually even in early August and mid-September.

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Categories: Obama,News,Iraq,Wrong,Debate,McCain,Barack,John,

Published on: 9/27/2008 1:14:59 AM
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Palin: The great debater

A livewriter-onscreen. Production

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Title Palin: The great debater published to livewriter-onscreen.

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Ask nearly anyone in Alaska, and they will tell you that Governor Sarah Palin is a great debater.
If anyone knows the challenge that lies ahead for Senator Joe Biden, it is Andrew Halcro, 44, who took part in a handful of debates with Mrs Palin during Alaska's 2006 gubernatorial race.
"The one thing I found during the [2006] debates was no matter how knowledgeable her opponents were on the issues, it didn't matter," Mr Halcro told BBC News.
"She has an amazing ability to turn a 45 second answer into a folksy story... she's never been forced to know the issues."
Mr Halcro said Mrs Palin's biggest strength is her ability to "fill the room with her presence".
Having studied at Harvard's Kennedy School of Government and Harvard Business School, in addition to being a lifelong Alaskan and lawmaker, Mr Halcro came to the debates armed with a wealth of knowledge and statistics.
Beyond statistics
Mrs Palin even said Mr Halcro would make "the awesomest statistician," when asked during a debate what position she would appoint Mr Halcro to if elected governor.
Governor Sarah Palin
Governor Sarah Palin is undefeated in previous debates
Still, statistics were not enough to put even the smallest dent in Mrs Palin's rising popularity.
"There were many times the third candidate and I would walk off stage and shake our heads," Mr Halcro said. "It wasn't policy it was populism."
Whatever it was, Mrs Palin beat her opponents, garnering 48% of the vote, while Democrat candidate Tony Knowles received 40% and Independent Halcro received 9%.
"I don't think anyone could have beat her," Mr Halcro said. "It wasn't about how much she knew about the issues. People didn't care about her experience, they just thought, 'This is the drink of water we need'."
Mr Halcro, and many others from Mrs Palin's home state, will be watching to see whether her commanding presence on stage this Thursday will similarly capture the hearts and votes of the rest of Americans in the "Lower 48" states.
I think she has more to lose now. Her ratio of importance to the Republican ticket was greater than Biden's to the Democratic ticket. She carries more weight, so there's the possibility for an equally large downside.
Richard Parker
Lecturer in Public Policy, Harvard's Kennedy School of Government
But Richard Parker, a lecturer in public policy at Harvard's Kennedy School of Government, said it may be tricky to transfer her immense success in Alaska on to the national stage.
"I think she plays to great advantage the small town hockey mom persona," Mr Parker said. "For Alaska that's terrific. But for states like Ohio and Pennsylvania, who are dealing with panic about the economy, who knows?"
Balancing act
At the height of Mrs Palin's popularity honeymoon a couple of weeks ago, Mr Parker said it was Mr Biden who most needed to put on a strong performance.
But with the downturn of the economy, the public's dubious reaction to Mrs Palin's recent interviews, and some conservative columnists calling on Palin to withdraw from the ticket due to her inexperience, Mr Parker said more focus will be on Mrs Palin.
"I think she has more to lose now," Mr Parker said. "Her ratio of importance to the Republican ticket was greater than Biden's to the Democratic ticket. She carries more weight, so there's the possibility for an equally large downside."
Nearly 55 million viewers tuned into the presidential debate last Thursday, and with more than usual focus on the vice-presidential candidates in this election, Mr Biden and Mrs Palin can expect to have a lot of eyes watching them.
Senator Joe Biden
Senator Joe Biden, an experienced debater, says he will focus on policy

Mr Halcro, a Republican still unsure who to vote for in November, said the key for Mr Biden is to focus on the policy issues and let the moderator ensure Mrs Palin answers the questions.
"He shouldn't be afraid to point out contradictions in a respectful manner," Mr Halcro said. "He needs to be congenial and not appear patronising or bully-like."
Avoiding disaster
Barack Obama's chief strategist David Axelrod has praised Mrs Palin's debating skills, recognising it will be a challenging debate.
"I would imagine that Biden and his counsellors are going to keep it as low key as possible and hope the questions she's asked will do her more damage," Mr Parker said. "The last thing he can afford is a disaster."
Mrs Palin, on the other hand, has the challenge of maintaining her undefeated debate record and proving to the rest of the world that her readiness to lead is not in doubt.
"Ten days ago, if you asked how important the vice-presidential debate would be, I would say intensely important because of Palin's attractiveness across party lines," Mr Parker said.
"But now with what is going on on Wall Street, I don't think that her inexperience is going to play well."

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The great Palin debate
This is the official CafePress blog. Use it wisely. ... Rush Limbaugh says she’s a “ babe.”  Jon Stewart says that “ her resume appears to be more suited for a ‘Northern ...
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Palin expects Biden to be a 'great debater'
Republican vice presidential candidate, Alaska Gov. Sarah Palin, addresses supporters during a during a rally, Thursday, Sept. 18, 2008, in Cedar Rapids, Iowa. (AP Photo/Charlie ...
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Palin expects Biden to be a 'great debater'
WASHINGTON (AP) - Republican vice presidential candidate Sarah Palin said she expects a challenging debate next month when she faces a Democratic opponent who was elected to the ...
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At last, America's teen stars wade into the great Bristol Palin debate
How tame does the Dick Cheney lesbian daughter plotline look now? If anything has been more hysterically watchable this week than the Republican convention, then Lost in Showbiz ...
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Obama campaign calls Palin 'a terrific debater'
... claims will surprise the Republicans who have begun to fear the debate following Palin’s ... her not knowing what she is talking about, all of a sudden she is a great debater?
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Palin: The great debater?
Ask nearly anyone in Alaska, and they will tell you that Governor Sarah Palin is a great debater. If anyone knows the challenge that lies ahead for Senator Joe Biden, it is Andrew Halcro, 44, who took part in a handful of debates with Mrs Palin ...
more ...
go to website
Source: BBC News
NewsDateTime: 3 hours ago

Why Sarah Palin Is A Better Debater Than You Think
Palin is an awesome debater. As I have written here and elsewhere, I consider myself a great debater HOWEVER, I have debated people whom I know have much less knowledge of a subject than I have, YET winning them required certain skills MOST of were ...
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Source: Huffingtonpost.com
NewsDateTime: 55 minutes ago

Biden, Palin match debate skills
Biden, Palin match debate skills Calvin Woodward and Matt Volz / Associated Press ... She did such a great job with just the glittering generalities and filling the ... Overall, the 36-year Senate veteran is a polished debater who has learned a lot ...
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Source: Detroit News
NewsDateTime: 41 minutes ago

Palin doesn't specify where she gets her news
I've read most of them, again with a great appreciation for the press, for the media," Palin replied. Asked for examples, she said, "Um, all of them, any of them that have been in front of me all these years.
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Source: Seattle Post Intelligencer
NewsDateTime: 9/29/2008

Palin, Biden VP Debate Expected to Actually Matter
The campaigns have tried to shape expectations, and Obama aides said they had seen tapes of Palin's debates during her run for governor. "She's a terrific debater. She has performed very well. We expect she'll give a great performance," Obama ...
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Source: NewsMax.com
NewsDateTime: 2 hours ago


The Sentiment Swings
After a week-long torrent of calls and e-mails from angry voters opposing the rescue package, the tide turned after markets plunged on Sept. 29 in response to the House vote. ``Over $1 trillion worth of market value was wiped off the books by the stock market drop,'' said Senator Robert Bennett, a Utah Republican. ``It is ordinary people looking at ordinary pensions, with their ordinary Main Street kind of 401(k) plans, who lost that $1 trillion. And they lost it in a matter of minutes.'' Texas Republican Representative Joe Barton's office said constituent calls and e-mails swung to as much as 70 percent in favor of congressional action, after having been overwhelmingly against a taxpayer rescue of Wall Street. The Dow Jones Industrial Average's record 778-point nosedive two days ago ratcheted up pressure on Congress. Flood of E-Mails The flood of e-mails to Capitol Hill swamped congressional computers, slowing communications and Internet access, said Kyle Anderson, a spokesman for the House Administration committee. On Google Inc.'s search engine, ``bailout vote'' and ``House vote'' were the fifth- and sixth-most-searched terms on Sept. 29. ``Roll call vote'' and ``who is my congressman?'' also made the top 50. House Minority Whip Roy Blunt, the Republicans' chief vote counter, predicted that voters' economic worries would force Congress to act. ``The impact this could have on the markets will have a big impact on getting people back to wanting to work together to get this problem solved,'' Blunt said. House Republican leader John Boehner, who backed the House measure that failed, said he backs the Senate legislation. To be sure, some lawmakers say their constituents are still opposed, and they have no regrets about killing the plan that was presented to the House. ``One of the best votes of my career,'' said Representative Peter DeFazio, an Oregon Democrat. Pressure From Lobbyists While voters jammed Capitol switchboards, lobbyists also stepped up pressure on Congress to do something. A collection of 56 trade groups -- from the U.S. Chamber of Commerce to the American Meat Institute and the National Roofing Contractors Association -- released an open letter urging Congress to act. ``Virtually every American has witnessed their retirement investment and savings accounts decline steeply,'' the letter said. ``The evaporation of credit is affecting businesses of all sizes and consumers and we run the risk of further declines in housing values.'' The bank-rescue package would give the Treasury secretary broad power to buy troubled assets, chiefly mortgage-backed securities, that are burdening investors and financial institutions. The Senate's final version of the legislation is still being drafted. Under the accord, announced on the Senate floor, Republican Leader Mitch McConnell and Majority Leader Harry Reid must still agree on the language before a vote can take place. It will be offered as an amendment to a piece of House-passed legislation awaiting Senate action and called up for a vote after 7:30 p.m. Washington time. Tax Credits The tax package that's part of the legislation also includes $17 billion in tax credits for the development of solar, wind and other forms of renewable energy. It passed the Senate on a 93-2 vote last week and differs from a version the House also approved. The package would spare 24 million households from a $62 billion alternative-minimum tax that is due to take effect this year. Fiscally conservative House Democrats known as Blue Dogs opposed the Senate bill because it wasn't fully offset by new tax revenue. The House version of tax breaks was paid for. Senate leaders refused to consider the House bill, saying it would never pass in that chamber. The financial rescue measure won support from 24 of the Blue Dogs on Monday. House Democratic leaders reacted cautiously to last night's announcement of the Senate agreement. On NBC's ``Today'' show this morning, House Majority Leader Steny Hoyer said the tax extenders, which are popular with Republicans, may cause loss of some Democratic support. Not Pleased ``We're going to have to be talking to them,'' Hoyer said of the Blue Dogs. ``I'm not particularly pleased with that addition myself, very frankly.'' At the White House, the president said yesterday he realized ``this is a difficult vote for members of Congress. But the reality is that we're in an urgent situation and the consequences will grow worse every day.'' Bush ``will be speaking with senators today,'' spokesman Tony Fratto said in an e-mail today. ``This morning we're seeing increased evidence of the credit squeeze on small businesses and municipalities all across the country, so it's critically important that we approve legislation this week and limit further damage to our economy.'' To help restore confidence in the nation's lenders, FDIC Chairman Sheila Bair sought the temporary increase in the bank- deposit insurance limits. Under the measure, banks will not be required to pay additional premiums for the coverage, which expires in 2009. The FDIC change was endorsed by both Republican presidential nominee John McCain and Democratic rival Barack Obama. Both presidential candidates plan to return to Washington for tonight's vote, their aides said. Reid said he's in contact with White House Chief of Staff Josh Bolten. He also said Obama informed him he talked to Bush about the plan. ``We're working together to try to resolve this,'' Reid said.

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Videos from YouTube
Title: Jack Cafferty Tells Us How He Really Feels About Sarah Palin
Categories: scare,cnn,interview,jack,clip,excuse,wolf,palin,News,sarah,excuses,blitzer,pathetic,cafferty,

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Title: CNN Laughs It Up Over Sarah Palin Interview
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Categories: Sarah,News,Alaska,Damon,Matt,Palin,

Published on: 9/10/2008 11:54:58 AM
Title: Palin: Okay, I Didn't Quite Say "Thanks, But No Thanks"
Categories: gibson,thanks,spending,interview,nowhere,bridge,charles,palin,News,abusive,sarah,pork,abc,to,federal,earmarks,reform,alaska,

Published on: 9/12/2008 4:38:02 PM

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