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...anyone expecting that Bush was going to stock his Cabinet with centrists and create a national unity government did not understand how he viewed the landscape. He told TIME in December 2000 that he believed he had won a mandate. In any case, says Calio, "The idea was to move quickly and start tucking accomplishments under the belt, so that you would refute the notion that there was no mandate and that nothing could be accomplished...
From drugs to financials, the stock market is trying to anticipate who will win the White House this fall. Sorting it all out is a TIME panel moderated by senior writer DANIEL KADLEC and including Richard Bernstein, chief U.S. strategist at Merrill Lynch, Gregory Valliere, chief political strategist at Schwab Soundview Capital Markets, and Thomas Gallagher, chief political analyst at ISI Group...
THOMAS GALLAGHER: Sure. But unlike with economic or industry news, markets tend to react to politics--not discount them ahead of time. That creates opportunities if you can anticipate political trends. In the '92 election, we had a Clinton stock index, and for a 10-week period starting in mid-September, it outperformed the S&P 500 by 10 percentage points. But most of the move came after the election. Very little had been anticipated...
...There are two new factors playing a huge role. One is the terrorism premium. Is it 25% of the price of oil? Nobody can quantify, but it's there. The second one is the election. There, I would not look at it in sweeping terms. The main issue is stock sectors, and there could be some pure plays in things like health care and other sectors depending on who wins...
...become for MedAire, the world's largest provider of onboard emergency medical assistance for ships and airlines. Founded in 1986 by former nurse Joan Sullivan Garrett, MedAire has grown from a tiny one-woman shop into a $17 million-in-sales company that is now listed on the Australian Stock Exchange after buying a company in Perth that operates Western-style medical clinics in Asia. MedAire, which is based in Tempe, Ariz., made the acquisition in an effort to grab a bigger slice of the estimated $1 billion medical-assistance market for travelers, with Singapore-based International SOS gobbling...