Business Resource Center
Subscribe

KIPLINGER FORECASTS

Home > Business & Politics
 
 

EXECUTIVE POLL

Bernard Madoff, convicted of running an $65 billion Ponzi scheme, was sentenced to 150 years in jail. What’s your take on his punishment?

Too heavy. There’s no point having him die in jail.
About right.
Not nearly heavy enough.
Not sure
 
   view results
Compare Price Quotes 100+ Services
ADVERTISEMENT
 
 

OUR PREMIUM CONTENT


The Kiplinger Letter
 
 
 

CURRENT LETTER

 
The Kiplinger Washington Editors
July 2, 2009
 

Overhauling
Financial Regs

By year-end or so, Congress will give the nod to a major rewriting of the nation's financial regulatory system. This week’s Kiplinger Letter explores whether the package will do more harm than good and what lawmakers are likely to include.
 
CORRECTIONS

TRY THE LETTER:

Subscribe
| See Sample
 
YOUR FEEDBACK
SUBSCRIBERLOG: Got a topic you'd like to discuss? Or a problem or question? Please join our exclusive forum for Letter subscribers only.
 
ASK US: A Kiplinger Letter editor will promptly answer subscriber questions.
 
 
OPEN FORUM: Share your insights and analysis with other visitors.
 
I just attended a franchise seminar. The speaker represents a few hundred franchises that (he says) are hand picked. He has the prospect (aka victim?) answer some questions about themselves then he makes recomendations - based on your personality, capital situation, etc.. If you pick a franchise, then he does some due dilligence for you. If you both decide it's a good idea, he helps you get started. He says he offers this service free of charge, which means he gets a commission if he's able to sell you a franchise. Has anyone done this? Successfully? Unsuccessfully?
-- fender
 

Democratic Convention: Change Is in the Air

As Democrats crown Barack Obama as their White House nominee, they aim to make voters comfortable with their choice. Running mate Joe Biden helps by adding experience to the ticket.
 
 

Democrats have two major goals for their presidential convention, which opens Aug. 25 in Denver...

The first is to brand Barack Obama as the agent of change. Convention participants -- and more importantly the voters who watch the proceedings on television -- will hear the words ad nauseam. It will be hammered home in pledges to change eight years of Bush dictates, to change course in Iraq, change energy, tax and regulatory policy, change the relationship between Congress and the White House, change the Supreme Court, change the U.S.' standing abroad, change domestic funding priorities and more.

Whether or not voters embrace all aspects of Obama's prescription for change, Democratic party leaders know that they aren't content with the status quo. So the party platform, media events and a panoply of speeches, including Obama's acceptance address -- to be delivered on the 50-yard line of Invesco Field before a crowd of 80,000 on Thursday evening -- will revolve around the theme of change. Moreover, the historic nature of Obama's quest and the orchestrated fanfare surrounding his anointment as the party's nominee will further emphasize the point.

Republicans, of course, are likely to change the channel. But this is the Democrats' week, and partisan counter attacks are expected to be minimal as the GOP readies itself for its own elaborate convention in Minneapolis next week.

Democrats' second goal: Make the millions of viewers at home comfortable with Obama -- introducing them to his personal history, family life, faith and patriotism. Running mate Joe Biden will help make long time Democrats more comfortable with his years of Senate experience and foreign policy gravitas. The Delaware senator's strong ties to Capitol Hill lawmakers on both sides of the aisle would go a long way to helping Obama push through legislative priorities. As chairman of the Senate Foreign Relations Committee, he has a firm grasp on global issues and is well known in foreign capitals. Like Obama, he's an outspoken critic of President George W. Bush's policies in Iraq. On the campaign trail, Biden, a Roman Catholic, figures to draw votes from the large Catholic voting bloc. Moreover, his blue collar roots will help to inoculate Obama against charges of elitism.

For many voters, Obama is an intriguing, charismatic figure and a political phenomenon, skyrocketing to prominence in his short life in public service. But his personality, his temperament and his personal values remain an unknown to them.

So the convention will open on Monday with prayers from an interfaith group of religious leaders, striking the theme of shared faith and values and underscoring Obama's Christian religion. A slick video, reminiscent of Bill Clinton's 1992 "Man from Hope," will seek to illuminate Obama's life experience, stressing all-American ideals and impressions. Forging a connection with the millions of voters who will tune in the convention is seen as critical for Obama. If he fails to get beyond the inspiration of lofty oratory, it is apt to hurt him in the short general election campaign.

Michelle Obama has a role in this effort as well. Her challenge in a speech scheduled for Monday night is to look the role of a potential first lady and not stoke controversy with divisive remarks, whether intentional or not. With a speech focusing on family, faith and values and patriotism, she'll aim to counteract the image put forth by her detractors as angry and militant. And with references to an American society that is increasingly diverse but essentially united, she'll seek to reassure voters that she, like her husband, understands and shares their values.

Barack Obama himself is anticipated to be absent from the scene until Thursday night. But then, he'll be in his element at what Denver calls mile high stadium, a natural forum for him and for what should be a stirring, historic speech. He'll strike well-developed themes but add some new rhetorical flourish to set the acceptance speech apart, calling for a renewed national spirit to move beyond partisan intransigence, racial discrimination and political rancor.

While there may be some griping off camera, Democrats will succeed in presenting a united front. Several thousand convention attendees were and remain Hillary Clinton supporters, believing she should have won the nomination, given the big states she carried. In a bow to them, there will be a symbolic Clinton nomination roll call, which will undoubtedly prompt an enthusiastic demonstration. But when it's over, Obama's nomination will be made unanimous, wiping the slate clean.

Hillary Clinton's prime-time address Tuesday night won't hint of lingering bitterness from the primaries. Expect it instead to be a call for rallying the troops, especially women, to lift Obama's prospects in November and heal internal party schisms. Whether she is motivated by sincerity or political calculation may be hotly debated, and she'll be asked about whether she'll consider running again. But she won't answer -- at least in public. She knows she can't benefit -- now or down the road -- from displaying any rancor or divisiveness, and she's too smart to let that happen. Husband Bill's address on Wednesday evening will also aim to bury the hatchet or at least to look genuine in the attempt. Neither of the Clintons want to be perceived as convention party poopers or election spoilers, and they'll both be especially upbeat.

In delivering the keynote address on Tuesday, Mark Warner, former governor of Virginia and currently a candidate for the U.S. Senate, has the important job of reeling in independents and moderates. He'll talk about economic ingenuity, a rising green technology industry, entrepreneurialism and middle class concerns, health care and higher education affordability.

Biden will speak Wednesday night, probably focusing on national security, threats that need to be better addressed, relations with allies that need to be improved and calling Russia to task. Look for other notables -- former VP Al Gore, several military vets, including Wesley Clark, and a slate of former generals to also take high-profile roles, in an effort by the party to stake a claim on military and national security issues.

Of course, there will be a Kennedy moment as well. If Sen. Edward M. Kennedy, currently in treatment for brain cancer, is unable to attend in person, he'll appear via a taped video segment, probably on Wednesday. Kennedy, whose early endorsement of Obama was considered critical, will no doubt talk of passing the torch to a new generation and for a renewed commitment to helping the less advantaged. Caroline Kennedy, daughter of President Kennedy and an early Obama endorser and helped manage his vice presidential search, is also expected to speak.

Any Obama bounce in voter polls following the Democratic convention may be short-lived with the Republican convention following right on its heels. But we don't expect the GOP convention to have a long tail either. In both cases, the impact will fade quickly.

For weekly updates on topics to improve your business decisionmaking, click here.

READER COMMENTS

Post a comment
 | 
Read all comments (7)


SAVE, SHARE & DISCUSS:    |   |   |   |   |   |   |   |   
ADD HEADLINES: