Latest news with #Trump-fueled
Yahoo
17-07-2025
- Business
- Yahoo
TSMC and Nvidia are latest bullish reads on AI demand: Opening Bid top takeaways
Fed attack aftershocks. Markets have stabilized a bit on Thursday after a Trump-fueled tizzy on Wednesday. According to multiple reports, President Trump had sounded out lawmakers on whether he should fire Federal Reserve Chair Jerome Powell. The US dollar immediately tanked, and the closely watched 10-year Treasury yield rose. Stocks took a hit. Trump later walked back the reports in a press conference. But Trump's repeated attacks on Powell and the Fed have investors on edge after a record-setting run for stocks. "I think he has done a very good job," Carlyle Group (CG) co–founder David Rubenstein told me. Rubenstein hired Powell in the late 1990s as a partner at his private equity firm, where Powell stayed for eight years. Here is everything we touched on during Yahoo Finance's Opening Bid on Thursday. Tune in live daily to Opening Bid at 9:30 a.m. ET. Another bullish read on tech Those looking for a bearish read on AI demand won't find it in Taiwan Semiconductor's (TSM) earnings release today. Taiwan Semiconductor, which manufactures chips for top players such as Nvidia (NVDA) and Apple (AAPL), now sees full sales growing 30% year over year. Previously, it modeled for sales growth in the mid-20% range. The company maintained a bullish tone around consumer demand for smartphones. The company is on track to spend $40 billion in capital expenditures this year to support strong AI chip demand. "Overall, we view this update from the industry's largest customer as encouraging/reassuring when applied toward next year's revenue spending outlook," Stifel analyst Brian Chin said. This comes hot on the heels of Nvidia CEO Jensen Huang's visit to China this week, during which he called out a strong order pipeline for the AI chips the company will soon be allowed to export back into the market. PepsiCo serves up a bubbly bottom line After a surprisingly lackluster first quarter in which it issued a rare outlook warning, PepsiCo (PEP) came back today with better news (off lowered expectations, to be fair). The maker of Pepsi soda and Frito-Lay snacks served up a $0.09 earnings beat and a $400 million revenue beat for its second quarter. Importantly, the company maintained its 2025 outlook for low-single-digit percentage revenue growth. EPS growth is still expected to be unchanged year over year. But it's clear the company continues to battle price-sensitive shoppers and higher costs of doing business. The PepsiCo North America food business saw volumes fall 1% and operating profits drop by 13%. The North America beverage business clocked a 2% volume decline, while operating profits were unchanged versus the prior year. "I'm not sure the consumer is changed. The consumer continues to be — especially middle and lower income — continues to be extremely challenged," PepsiCo chair and CEO Ramon Laguarta told me by phone. Starbucks stock gets put on ice A bearish call on Starbucks (SBUX) by Jefferies has caffeinated the bears. Analyst Andy Barish slapped the stock with an Underperform rating and a $76 price target. The new target assumes an 18% downside from current price levels. Starbucks is set to report its earnings on July 29. "We think the stock has surpassed reasonable expectations for improving fundamentals," Barish said. Barish is concerned about weak consumer spending data and higher future costs as CEO Brian Niccol invests in his turnaround plan. Key to that plan are remodeling Starbucks stores and extra hours and pay for store workers. Before this downgrade, Starbucks shares had gained 23% in the past year. Barish isn't alone in his concerns about Starbucks stock — according to Yahoo Finance data, 55% of the analysts that cover the stock rate it a Hold or Sell. Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Politico
02-07-2025
- Business
- Politico
Carney's summer agenda
Send tips | Subscribe here | Email Canada Playbook | Follow Politico Canada Thanks for reading Canada Playbook. In today's edition: → PM Carney: Canada First. → Inside a Trump-fueled Ottawa letter dump. → Oklahoma threw a parade. Ottawa hit snooze. Trade war MAKE CANADA GREATER, STILL — Prime Minister MARK CARNEY used his July 1 spotlight to double down on his economic agenda — and to define his vision of Canadian greatness. The PM's first Canada Day address sounded a lot like his stump speeches with talk of transforming Canada into an 'energy superpower' via his 'nation-building' law. He even repeated his campaign mantra: 'Build, baby, build.' — Elephant in the room: The PM didn't mention DONALD TRUMP. He didn't have to. His speech was filled with veiled references to the president, 51st-state taunts and the Canada-U.S. trade war. 'We are taking over the control of our future. We're writing our own story, not having it dictated to us by others,' Carney said to a big cheer from the crowd in Ottawa. 'This is Canada. Nothing could be better.' → Just great: To describe Canada's resilience, Carney leaned on one of Trump's favorite words. 'Canada is already the greatest country in the world, but our destiny is to make it greater, still,' Carney said. — More on that: 'Greatness isn't defined by words. It's achieved by actions,' Carney said. 'Greatness isn't something we just say. It's what we do for ourselves, but particularly for others. So while we work to build the strongest economy in the G7, we know that it's not an end in itself, it's the means through which all Canadians can live in security, in dignity and in harmony.' — Heading into the holiday: Trump backed out of negotiations with Carney, and promised to bring in new tariffs in response to Canada's DST. By Sunday night, Canada had rescinded a tax that would have hit U.S. tech companies with a bill of up to C$3 billion. Canada and the U.S. appear to be back at the negotiation table. Ambassador KIRSTEN HILLMAN told the Globe on Tuesday that Ottawa is still aiming to get all of Trump's tariffs lifted as part of a deal. — Déjà vu: Lawyer MICHAEL GEIST said the government's handling of the DST was reminiscent of the Liberal government's fight with giant tech companies over the Online News Act. Meta still has news blocked in Canada because it didn't want to pay local newsrooms millions of dollars, as stipulated by the act. 'Government talks tough with tech, ignores warnings, and then scrambles when it turns out it isn't a bluff,' Geist wrote. SUMMER TO-DO LIST — Carney has delivered a middle-class tax cut. He's also reducing internal trade regulations and managed to get C-5 passed into law. CBC's PETER ZIMONJIC offers a verdict on each of Carney's Canada Day promises. — Down to business: At 11 a.m. this morning, the PM will meet with CEOs of the auto industry. — On the calendar: Carney is anxious to get Indigenous leaders on board C-5 (belatedly) to avoid a summer of protests. He'll meet First Nations in Ottawa on July 17, Inuit leadership in late July, and Métis leadership 'soon thereafter.' — A looming deadline: He's given himself until July 21 to reach a new economic and security deal with Trump. That same day, premiers will meet in Huntsville, Ontario, to discuss nation-building projects — and possible retaliation against the U.S. 'Together, we will build one Canadian economy, connected by major projects, powered by Canadian energy, transformed by Canadian technology, and crafted by Canadian workers,' Carney said Tuesday. 'Together, we will break down barriers so that you can buy Canadian anywhere, and you can work in Canada everywhere.' — Flood the zone: The Prime Minister's Office has yet to offer any indication of when those 'nation-building projects' will be announced. Premiers have said they expect details to roll out over the summer — with Alberta Premier DANIELLE SMITH suggesting they could include a new pipeline. For your radar MAILBOX MELTDOWN — When DONALD TRUMP fired the opening salvo in his trade war with Canada earlier this year, thousands of his neighbors to the north flooded inboxes and mailboxes at the Privy Council Office in Ottawa. Canadians got their hackles up amid all the economic threats — and the president's frequent suggestion that Canada would be better off seeking statehood. — Start typing: The PCO, which offers administrative support to the PM and Cabinet, received nearly 10,000 individual pieces of correspondence on the topic of Canada-U.S. relations — including Trump's '51st state' rhetoric and tariffs. A monthly report obtained by Playbook via an access-to-information request revealed a massive spike in U.S.-focused letters in February over the previous month when Trump was inaugurated. — Give him an earful: Trudeau scored high marks firing back at Trump with retaliatory tariffs and a sharp rebuke of any annexation talk. The monthly summary notes a majority of trade war letters supported the Canadian response. But the former PM was still unpopular enough that the PCO received more than 2,500 letters — more than any other topic except the Canada-U.S. file — expressing opinions about him and his government. Much of it might be categorized as hate mail. → Context of note: 'Many include inappropriate comments or tone.' — The hot war: The PCO also received more than 2,300 letters about the Israel-Hamas conflict, which the bureaucrats summarized as: 'Concerns about the crisis in Israel, the West Bank and the Gaza Strip, including the ceasefire.' — Total letter count for February: 207,949 — 70 percent of which were part of write-in campaigns. THE ROOMS THAT MATTER — The PM will meet with automotive industry CEOs at 11 a.m., a gathering that is closed to media. — Environment Minister JULIE DABRUSIN is in Yellowknife, where at 2:30 p.m. local time (4:30 p.m. ET) she'll make a funding announcement to support five clean energy projects in Alberta and the Northwest Territories. Want more POLITICO? Download our mobile app to save stories, get notifications on U.S.-Canada relations, and more. In iOS or Android . MORNING MUST-CLICKS — From POLITICO's KATHERINE TULLY-MCMANUS and JORDAIN CARNEY: How Republicans got Murkowski to yes on Trump's megabill. — Noted in the Financial Post: Canada's historic first cargo of LNG sets sail for buyers in Asia. — The 'Curse' gang discussed the future of PIERRE POILIEVRE, a conversation that included consideration of the Conservative leader's recent interview with SEAN SPEER. — From TRACY MORAN in the National Post: Why the digital services tax had to die for the Canada-U.S. trade deal to live. — ANAIDA POILIEVRE penned a post on 'the art of not caring' about social media hate. — 'We must make ourselves into something, or disappear,' STEPHEN MARCHE warned in The Atlantic. He's also launched an audio series. TALK OF THE TOWN PLAYING FAVORITES — Hamilton basketball player SHAI GILGEOUS-ALEXANDER paraded in the streets of Oklahoma last week, a Canadian flag wrapped around his waist, as Americans in the red state heavily won by DONALD TRUMP chanted the NBA star's name. SGA, as he's known, had just won the NBA finals with his Oklahoma City Thunder team, which also features Montreal-born player LUGUENTZ DORT. He cemented himself as the league's best player. On Canada Day, he agreed to a $285 million deal — holding the highest single-season average salary in NBA history. — Cross-border joy: It is a feel-good story for an Ontario steel town rocked by Trump's tariffs. Oklahoma City Mayor DAVID HOLT declared July 30 SGA Day. — O Canada: There's been a surge in sports and patriotism since the start of the trade war. Tensions picked up around the 4 Nations Face-Off. Both MARK CARNEY and PIERRE POILIEVRE rallied around the Canadian team — as Trump did with Team U.S.A. Fans booed the American anthem and the PM made hockey — and his love for the Oilers — part of his political identity and prime ministerial campaign. 'Sports is like another part of entertainment and life, and people can see themselves represented in it,' said NOAH ELIOT VANDERHOEVEN, a Ph.D. candidate at Western University, who's studying sports and social movements. 'Oftentimes it's a very powerful symbol that can be used for nation-building purposes, in terms of a symbol of national successes as well.' — Hockey > everything: Men's hockey gets held up as a symbol of national success, Vanderhoeven says, especially given that in many other sports, 'Canada is not as successful.' Although Canadian athletes make regular appearances in NBA finals, 'basketball hasn't really had that saturation in terms of being political,' he explained. — But, but, but: SGA's success went largely unnoticed by Canadian politicians. Conservative MP NED KURUC, who recently flipped the seat from Liberal's CHAD COLLINS, was the only Hamilton MP to praise SGA's win, calling it 'a proud moment for our city and our country!' Hamilton Liberal MPs ASLAM RANA, LISA HEPFNER and JOHN-PAUL DANKO were silent. Secretary of State for Sport ADAM VAN KOEVERDEN did celebrate SGA's MVP title. But en route to a caucus meeting, he seemed puzzled when Playbook asked if he was watching the OKC finals. — Used to it: 'Hamilton is an under-the-radar, blue-collar city,' SGA told the Hamilton Spectator last year. 'So that gave me that underdog mentality, it put a chip on my shoulder … It carried over to my work ethic, and the way I play.' — On Canada Day: Canadian Identity Minister STEVEN GUILBEAULT rhymed off a list of achievements in the past year — 'baseball, hockey and football.' No mention of SGA and Dort. PROZONE Our latest headlines for POLITICO Pro subscribers: — Senate GOP bets softer clean energy cuts won't come back to bite them. — In tech tax 'cave,' Trump and Carney may have both gotten what they wanted. — 5 things to know about Trump's attacks on the Montreal Protocol. — Can tech companies curb AI's climate toll? — Trump turns trade talks into foreign policy wish list. PLAYBOOKERS Birthdays: HBD to former Sen. JANE CORDY, former Liberal MP LINDA LAPOINTE and BRYAN DETCHOU, senior director at the Canadian Chamber of Commerce. Movers and shakers: ROBERT ZHU has co-founded Roots Strategies, a national Indigenous affairs agency … STEPHEN BUFFALO, CEO of the Indian Resource Council, has joined Alberta Next … RYAN GAUSS, chief of staff to Liberal MP PETER FRAGISKATOS, is leaving the role after 10 years. Spotted: The iconic TERRY FOX Adidas shoe, which he wore in the 1980 Marathon of Hope is being rereleased to raise money for cancer research … MARCO MENDICINO wearing a 'Big Daddy' T-shirt with the PM's face on it. Noted: This year's Order of Canada appointees features several health leaders, including those who served on the front lines during the Covid-19 pandemic: Canada's newly retired chief public health officer, THERESA TAM; her British Columbia counterpart, BONNIE HENRY; and Canada's first chief public health officer, DAVID ALEXANDER JONES. — Other appointees: JOHN MANLEY, MAUREEN MCTEER, MARC-ANDRÉ BLANCHARD, BRUCE ANDERSON and ALEXANDRA BUGAILISKIS. JOHN IBBITSON and DARRELL BRICKER heralded 'Breaking Point,' a new book coming this fall. Also noted: Alberta MP HEATHER MCPHERSON — considering a run for NDP leader. A by-election has been called in the Alberta riding of Battle River—Crowfoot for Aug. 18, creating a path for Conservative Leader PIERRE POILIEVRE to return to the House of Commons. DARCY SPADY will be the Liberal candidate in the race. Media mentions: Former CBC journalist ALEX PANETTA bids farewell to Washington … Political columnist for the Regina Leader-Post and Saskatoon StarPhoenix MURRAY MANDRYK said goodbye … MICHELLE MCQUIGGE, The Canadian Press' weekend and special projects editor, is retiring from journalism; she spent 19 years at the wire service. TRIVIA Friday's answer: In July 2016 in Toronto, JUSTIN TRUDEAU became the first prime minister to march in a Pride parade. Props to BARB WRIGHT, NANCI WAUGH, JOHN PEPPER, JOANNA PLATER, DARRYL DAMUDE, BEN PURKISS, KIRSTEN BUSSE, BEN BROWN CLEMENTS, MAUREEN MACGILLIVRAY, ELIO PETERSON, JILL PILGRIM, GORDON RANDALL, JENN KEAY, SHAUGHN MCARTHUR, ROBERT MCDOUGALL, ALYSON FAIR, SARA MAY and ANDREW SZENDE. Wednesday's question: On Tuesday, PRINCE EDWARD attended Canada Day celebrations in Ottawa. Who were the last royals before that to participate in Canada Day festivities on Parliament Hill? Answers to canadaplaybook@ Writing tomorrow's Playbook: MICKEY DJURIC and MIKE BLANCHFIELD. Canada Playbook would not happen without: Canada Editor Sue Allan, editor Willa Plank and POLITICO's Grace Maalouf.
Chicago Tribune
23-05-2025
- Politics
- Chicago Tribune
Here's why Kamala Harris could run for governor of California and bypass another White House bid
LOS ANGELES — Many of Kamala Harris' supporters and detractors alike think she'd have better odds running for California governor rather than president a third time. There are several reasons for Harris to make a bid to replace term-limited Gov. Gavin Newsom. She would immediately become the early front-runner instead of entering a presidential primary with a dozen or more serious contenders. No other candidate in California could match her résumé of having served as San Francisco district attorney, state attorney general, U.S. senator and vice president. Beyond being expected to make a decision by the end of summer, Harris said little about her future. She told a crowd in Orange County in April: 'I'll see you out there. I'm not going anywhere.' Newsom has predicted that Harris would top the field in a contested primary but added, 'if she runs.' To run for governor, 'you have to have a burning 'Why?' ' Newsom said on the 'Next Up with Mark Halperin' podcast. 'And if you can't enunciate that, the answer is 'No,'' Newsom added. 'Why the hell would you want this job?' Here are some reasons why she might want it — and why she might not. Her office did not respond to requests for comment for this story. Harris would have to convince national Democrats that she's the face of the party's future, despite losing to President Donald Trump last fall. She's also tied to former President Joe Biden, whom Democrats are increasingly criticizing as new books drive further discussion about his age and physical and mental readiness during his time in office. The 2028 presidential contest is expected to attract a large field, likely to include Newsom. Any candidate will have to unify a fractious Democratic Party with low approval ratings and struggling to slow Trump's agenda in Washington. Democratic consultant Bill Burton, who was national press secretary for former President Barack Obama's 2008 campaign, said Harris would enter a presidential primary with a proven fundraising network, strong recognition with voters and the experience of operating in a Trump-fueled media environment. But the looming question for Democrats is likely to be, 'Who is the best person to stand up to the MAGA movement and exhibit a strength that is going to need to be really formidable?' Burton said. Could Harris make that case? Some think her time has passed. 'She's had her chance,' Adam Green, co-founder of the Progressive Change Campaign Committee, said in a statement. 'Voters want authentic outsiders who will shake up our broken political system and challenge an economic status quo rigged for billionaires against working people,' Green added. 'That's why Kamala Harris lost, and it's why Democrats must turn elsewhere for leadership.' Harris calls herself a proud daughter of California, and after serving as vice president and in the Senate, she doesn't need to chase another title. That said, California is one of the world's largest economies by itself, and its governor becomes, by default, a national figure. She would most likely run as a proven hand with the experience to lead California's tussles with Trump — the state is known as the epicenter of the so-called Trump resistance — while dealing with its many problems, among them homelessness and a punishing cost of living. In her San Francisco speech last month, she said the nation was witnessing a 'wholesale abandonment' of American ideals under Trump. The contest to replace Newsom in California is crowded, with leading candidates including former U.S. Rep. Katie Porter, former Los Angeles Mayor Antonio Villaraigosa and former Biden administration health secretary Xavier Becerra. It's expected that at least some of her rival Democrats would bow out rather than compete against her, including Porter, who in 2012 was appointed by then-attorney general Harris to be the state's independent bank monitor in a multibillion-dollar nationwide mortgage settlement. Democratic consultant Roger Salazar, who was a delegate in the party's 2024 presidential convention, said Harris would stand better odds in a race for governor in her home state. With multiple election wins in California, 'there is just more certainty,' Salazar said. 'I think she's got a leg up right now, but this race hasn't solidified' with the primary more than a year away. How will voters view her? As a favorite daughter of California returning home? Or a two-time presidential also-ran looking for a soft landing? Republican consultant Kevin Madden, who was a senior adviser to Mitt Romney's presidential campaigns in 2008 and 2012, was dubious about her chances in either race. It's unusual for a candidate to capture the presidency after two losses — Biden was one example. As for governor, 'the California electorate is about as ideal as it gets for Harris, but nothing about her current electoral record indicates that primary or general election candidates should be scared off,' Madden added. Unlike many other states, California doesn't automatically advance a Democrat and a Republican to the November election. The state's open primary system has tormented many candidates — critics call it the 'jungle primary.' All candidates appear on a single ballot, regardless of party, and the top two vote-getters advance to the general election. The system can lead to strategic gambles. Last year's U.S. Senate race included three prominent Democrats — U.S. Reps. Adam Schiff, Porter and Barbara Lee. Schiff ran TV ads in the primary that spotlighted Republican Steve Garvey, presumably a weaker contender in the general election than either of his Democratic rivals. Garvey ended up advancing to November, where he was soundly defeated by Schiff, who now holds the seat. But Harris could come out of the June 2, 2026, primary facing a Democrat who ends up criticizing her in much the same way she'd have faced in a 2028 bid. San Francisco-based Democratic consultant Eric Jaye recalled another Californian who, after losing a presidential race, sought to rebound in his home state: Richard Nixon. After being narrowly defeated in the 1960 election by then-Sen. John F. Kennedy, Nixon lost the 1962 race for California governor. (Of course, Nixon ended up winning the White House six years later.) While Harris is a favorite with Democrats, a slice of the electorate has deeply negative views of her, Jaye noted. That doesn't leave her with many voters to gain, and the Democratic primary vote could be divided among multiple candidates. 'I don't think it's in any way guaranteed that she would win,' Jaye said. 'She's a highly polarizing figure.' Harris would be coming home to a long list of problems. The homeless crisis is playing out daily on the streets of Los Angeles and other big cities. Newsom this month said the state is facing a $12 billion deficit and he wants to freeze enrollment in a state-funded health care program for immigrants living in California without legal status. There is a home insurance crisis and a continuing threat from destructive wildfires. And as the last election made clear, Republicans will attempt to saddle her — fairly or not — with her home state's reputation for confiscatory taxes, gas prices and utility bills, seven-figure home prices and liberal social policies.
Boston Globe
22-05-2025
- Politics
- Boston Globe
Why Kamala Harris could run for California governor and bypass another White House bid
Newsom has predicted that Harris would top the field in a contested primary but added, 'if she runs.' Advertisement To run for governor, 'you have to have a burning 'Why?' ' Newsom said on the 'Next Up with Mark Halperin' podcast. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up 'And if you can't enunciate that, the answer is 'No,'' Newsom added. 'Why the hell would you want this job?' Here are some reasons why she might want it — and why she might not. Her office did not respond to requests for comment for this story. Pro: She can skip a fractious 2028 primary Harris would have to convince national Democrats that she's the face of the party's future, despite losing to President Donald Trump last fall. She's also tied to former President Joe Biden, whom Democrats are increasingly criticizing as new books drive further discussion about his age and physical and mental readiness during his time in office. Advertisement The 2028 presidential contest is expected to attract a large field, likely to include Newsom. Any candidate will have to unify a fractious Democratic Party with low approval ratings and struggling to slow Trump's agenda in Washington. Democratic consultant Bill Burton, who was national press secretary for former President Barack Obama's 2008 campaign, said Harris would enter a presidential primary with a proven fundraising network, strong recognition with voters and the experience of operating in a Trump-fueled media environment. But the looming question for Democrats is likely to be, 'Who is the best person to stand up to the MAGA movement and exhibit a strength that is going to need to be really formidable?' Burton said. Could Harris make that case? Some think her time has passed. 'She's had her chance,' Adam Green, co-founder of the Progressive Change Campaign Committee, said in a statement. 'Voters want authentic outsiders who will shake up our broken political system and challenge an economic status quo rigged for billionaires against working people,' Green added. 'That's why Kamala Harris lost, and it's why Democrats must turn elsewhere for leadership.' Pro: California governor might be a safer bet Harris calls herself a proud daughter of California, and after serving as vice president and in the Senate, she doesn't need to chase another title. That said, California is one of the world's largest economies by itself, and its governor becomes, by default, a national figure. She would most likely run as a proven hand with the experience to lead California's tussles with Trump — the state is known as the epicenter of the so-called Trump resistance — while dealing with its many problems, among them homelessness and a punishing cost of living. Advertisement In her San Francisco speech last month, she said the nation was witnessing a 'wholesale abandonment' of American ideals under Trump. The contest to replace Newsom in California is crowded, with leading candidates including former US Representative Katie Porter, former Los Angeles Mayor Antonio Villaraigosa and former Biden administration health secretary Xavier Becerra. It's expected that at least some of her rival Democrats would bow out rather than compete against her, including Porter, who in 2012 was appointed by then-attorney general Harris to be the state's independent bank monitor in a multibillion-dollar nationwide mortgage settlement. Democratic consultant Roger Salazar, who was a delegate in the party's 2024 presidential convention, said Harris would stand better odds in a race for governor in her home state. With multiple election wins in California, 'there is just more certainty,' Salazar said. 'I think she's got a leg up right now, but this race hasn't solidified' with the primary more than a year away. Con: Will voters welcome her back? How will voters view her? As a favorite daughter of California returning home? Or a two-time presidential also-ran looking for a soft landing? Republican consultant Kevin Madden, who was a senior adviser to Mitt Romney's presidential campaigns in 2008 and 2012, was dubious about her chances in either race. It's unusual for a candidate to capture the presidency after two losses — Biden was one example. As for governor, 'the California electorate is about as ideal as it gets for Harris, but nothing about her current electoral record indicates that primary or general election candidates should be scared off,' Madden added. Con: She won't necessarily run against a Republican in November Unlike many other states, California doesn't automatically advance a Democrat and a Republican to the November election. Advertisement The state's open primary system has tormented many candidates — critics call it the 'jungle primary.' All candidates appear on a single ballot, regardless of party, and the top two vote-getters advance to the general election. The system can lead to strategic gambles. Last year's US Senate race included three prominent Democrats — US Reps. Adam Schiff, Porter and Barbara Lee. Schiff ran TV ads in the primary that spotlighted Republican Steve Garvey, presumably a weaker contender in the general election than either of his Democratic rivals. Garvey ended up advancing to November, where he was soundly defeated by Schiff, who now holds the seat. But Harris could come out of the June 2, 2026, primary facing a Democrat who ends up criticizing her in much the same way she'd have faced in a 2028 bid. San Francisco-based Democratic consultant Eric Jaye recalled another Californian who, after losing a presidential race, sought to rebound in his home state: Richard Nixon. After being narrowly defeated in the 1960 election by then-Sen. John F. Kennedy, Nixon lost the 1962 race for California governor. (Of course, Nixon ended up winning the White House six years later.) While Harris is a favorite with Democrats, a slice of the electorate has deeply negative views of her, Jaye noted. That doesn't leave her with many voters to gain, and the Democratic primary vote could be divided among multiple candidates. 'I don't think it's in any way guaranteed that she would win,' Jaye said. 'She's a highly polarizing figure.' Con: Does she want to go to Sacramento? Harris would be coming home to a long list of problems. The homeless crisis is playing out daily on the streets of Los Angeles and other big cities. Newsom this month said the state is facing a $12 billion deficit and he wants to freeze enrollment in a state-funded health care program for immigrants living in California without legal status. There is a home insurance crisis and a continuing threat from destructive wildfires. Advertisement And as the last election made clear, Republicans will attempt to saddle her — fairly or not — with her home state's reputation for confiscatory taxes, gas prices and utility bills, seven-figure home prices and liberal social policies.
22-05-2025
- Politics
Why Kamala Harris could run for California governor, bypass another White House bid
LOS ANGELES -- Many of Kamala Harris' supporters and detractors alike think she'd have better odds running for California governor rather than president a third time. There are several reasons for Harris to make a bid to replace term-limited Gov. Gavin Newsom. She would immediately become the early front-runner instead of entering a presidential primary with a dozen or more serious contenders. No other candidate in California could match her résumé of having served as San Francisco district attorney, state attorney general, U.S. senator and vice president. Beyond being expected to make a decision by the end of summer, Harris said little about her future. She told a crowd in Orange County in April: 'I'll see you out there. I'm not going anywhere.' Newsom has predicted that Harris would top the field in a contested primary but added, 'if she runs.' To run for governor, 'you have to have a burning 'Why?' ' Newsom said on the 'Next Up with Mark Halperin' podcast. 'And if you can't enunciate that, the answer is 'No,'' Newsom added. 'Why the hell would you want this job?' Here are some reasons why she might want it — and why she might not. Her office did not respond to requests for comment for this story. Harris would have to convince national Democrats that she's the face of the party's future, despite losing to President Donald Trump last fall. She's also tied to former President Joe Biden, whom Democrats are increasingly criticizing as new books drive further discussion about his age and physical and mental readiness during his time in office. The 2028 presidential contest is expected to attract a large field, likely to include Newsom. Any candidate will have to unify a fractious Democratic Party with low approval ratings and struggling to slow Trump's agenda in Washington. Democratic consultant Bill Burton, who was national press secretary for former President Barack Obama's 2008 campaign, said Harris would enter a presidential primary with a proven fundraising network, strong recognition with voters and the experience of operating in a Trump-fueled media environment. But the looming question for Democrats is likely to be, 'Who is the best person to stand up to the MAGA movement and exhibit a strength that is going to need to be really formidable?' Burton said. Could Harris make that case? Some think her time has passed. 'She's had her chance,' Adam Green, co-founder of the Progressive Change Campaign Committee, said in a statement. 'Voters want authentic outsiders who will shake up our broken political system and challenge an economic status quo rigged for billionaires against working people," Green added. 'That's why Kamala Harris lost, and it's why Democrats must turn elsewhere for leadership.' Harris calls herself a proud daughter of California, and after serving as vice president and in the Senate, she doesn't need to chase another title. That said, California is one of the world's largest economies by itself, and its governor becomes, by default, a national figure. She would most likely run as a proven hand with the experience to lead California's tussles with Trump — the state is known as the epicenter of the so-called Trump resistance — while dealing with its many problems, among them homelessness and a punishing cost of living. In her San Francisco speech last month, she said the nation was witnessing a 'wholesale abandonment' of American ideals under Trump. The contest to replace Newsom in California is crowded, with leading candidates including former U.S. Rep. Katie Porter, former Los Angeles Mayor Antonio Villaraigosa and former Biden administration health secretary Xavier Becerra. It's expected that at least some of her rival Democrats would bow out rather than compete against her, including Porter, who in 2012 was appointed by then-attorney general Harris to be the state's independent bank monitor in a multibillion-dollar nationwide mortgage settlement. Democratic consultant Roger Salazar, who was a delegate in the party's 2024 presidential convention, said Harris would stand better odds in a race for governor in her home state. With multiple election wins in California, 'there is just more certainty,' Salazar said. 'I think she's got a leg up right now, but this race hasn't solidified' with the primary more than a year away. How will voters view her? As a favorite daughter of California returning home? Or a two-time presidential also-ran looking for a soft landing? Republican consultant Kevin Madden, who was a senior adviser to Mitt Romney's presidential campaigns in 2008 and 2012, was dubious about her chances in either race. It's unusual for a candidate to capture the presidency after two losses — Biden was one example. As for governor, 'the California electorate is about as ideal as it gets for Harris, but nothing about her current electoral record indicates that primary or general election candidates should be scared off,' Madden added. Unlike many other states, California doesn't automatically advance a Democrat and a Republican to the November election. The state's open primary system has tormented many candidates — critics call it the 'jungle primary.' All candidates appear on a single ballot, regardless of party, and the top two vote-getters advance to the general election. The system can lead to strategic gambles. Last year's U.S. Senate race included three prominent Democrats — U.S. Reps. Adam Schiff, Porter and Barbara Lee. Schiff ran TV ads in the primary that spotlighted Republican Steve Garvey, presumably a weaker contender in the general election than either of his Democratic rivals. Garvey ended up advancing to November, where he was soundly defeated by Schiff, who now holds the seat. But Harris could come out of the June 2, 2026, primary facing a Democrat who ends up criticizing her in much the same way she'd have faced in a 2028 bid. San Francisco-based Democratic consultant Eric Jaye recalled another Californian who, after losing a presidential race, sought to rebound in his home state: Richard Nixon. After being narrowly defeated in the 1960 election by then-Sen. John F. Kennedy, Nixon lost the 1962 race for California governor. (Of course, Nixon ended up winning the White House six years later.) While Harris is a favorite with Democrats, a slice of the electorate has deeply negative views of her, Jaye noted. That doesn't leave her with many voters to gain, and the Democratic primary vote could be divided among multiple candidates. 'I don't think it's in any way guaranteed that she would win,' Jaye said. 'She's a highly polarizing figure.' Harris would be coming home to a long list of problems. The homeless crisis is playing out daily on the streets of Los Angeles and other big cities. Newsom this month said the state is facing a $12 billion deficit and he wants to freeze enrollment in a state-funded health care program for immigrants living in California without legal status. There is a home insurance crisis and a continuing threat from destructive wildfires. And as the last election made clear, Republicans will attempt to saddle her — fairly or not — with her home state's reputation for confiscatory taxes, gas prices and utility bills, seven-figure home prices and liberal social policies.
