Your Credit Rating Might Predict How Likely It Is You'll Have A Heart Attack

A new study has found that your credit rating may be able to predict how likely you are to have a heart attack or stroke.

The multi-decade study, which was published last week in the journal Proceedings of the National Academy of Sciences, was performed by Duke University psychologists who looked at the cholesterol, blood pressure, diabetes status and smoking habits of over 1,000 New Zealanders -- and then compared their findings to those people’s credit ratings.

The study found that people with lower credit scores were more likely to be at risk for cardiovascular disease. That, the study said, is because the same factors that account for better credit scores -- the researchers focused on self-control, educational attainment and cognitive abilities -- also account for better health.

“For example, being able to regulate your impulses lets you say no to that second helping of dessert as well as to buying something you can’t afford,” said Salomon Israel, one of the study’s authors and a postdoctoral fellow in psychology and neuroscience at Duke.

The study also found that those traits begin to develop in the first ten years of a person’s life. The researchers have been following the study participants' development since birth. "Despite the passage of nearly three decades, childhood factors were all significantly correlated with their corresponding adult measures," the study concluded.

In order to measure self-control, researchers relied on reports from study members’ teachers and parents, as well as self-reports from the members themselves, about qualities such as hyperactivity, inattention and lack of persistence. Educational attainment was defined by the level of schooling each participant had completed, while cognitive ability was measured by evaluating participants' IQs at various points throughout their lives.

Of course, the association between poor credit and poor heart health could be due to other factors, too. The study acknowledged, for example, that losing a job after getting sick could cause a person’s health to deteriorate and their credit score to drop. On the flip side, someone with more money might be both healthier and more financially stable because they can afford to pay their bills on time and access quality health care.

But the study concluded that self-restraint, educational level and cognitive ability were nonetheless more important than these other factors in explaining the link between a sound credit rating and a strong heart.

In the U.S., credit ratings are determined by a complex algorithm used by credit bureaus, which receive information about how punctually people pay their bills from places like utility companies, banks and mortgage providers. Then, the bureaus plug that information into an algorithm and come up with a three-digit number that lenders, landlords and others use to assess your financial reliability.

Having a less-than-perfect credit rating can have a host of consequences. Just a few dings on your score can mean you’ll be paying higher interest rates on mortgages, car loans and credit cards. Having a few more dings means you could be denied a job or a place to live.

But people shouldn’t be so quick to assume that a bad credit score is only because a person was impulsive, says Paul Bland, a consumer lawyer and the executive director of Public Justice, a public interest law firm that brings litigation against corporations on behalf of consumers.

“In the U.S., there are so many mistakes on credit reports that it seems dubious to make a strong association between these personality traits and your credit reports,” Bland told The Huffington Post.

Mistakes on credit reports affect millions of Americans: One out of every five people with a credit report on file had an error on their report, the Federal Trade Commission found in 2013.

Bland pointed out that even if a person is scrupulous and has a history of always paying bills on time, something like medical debt could still quickly ruin their credit. Because unexpected illnesses or accidents don’t discriminate in who they afflict, research has shown that unpaid medical debt is an imperfect predictor of creditworthiness. Partly as a result of such research, major credit score provider FICO said in August that it would start giving less weight to unpaid medical bills in determining credit ratings when that is the only negative in a person’s credit history.

So what does this all mean? For those who make indulgent purchases even when your paycheck doesn’t allow it, it can't hurt to get your blood pressure and cholesterol checked. But at the same time, just because you have a few dents on your credit report doesn’t mean you’re going to keel over the next time you have to shovel the driveway.

H/T Consumer Reports

Walmart Workers Launch Black Friday Strike

WASHINGTON -- Kicking off the third consecutive year of protests, Walmart workers in six states have formally submitted strike notices to their bosses ahead of the Black Friday shopping frenzy, calling for higher wages and better hours, according to OUR Walmart, the group representing the workers.

OUR Walmart did not provide an estimate on how many workers planned to take part in the strikes this year. It did, however, say that workers in Wisconsin, Louisiana, Florida, California, Maryland, Virginia and Washington, D.C., have already delivered notices, and it anticipates workers in Illinois, Minnesota, Texas and Pennsylvania will do so as well.

Charles Brown, an OUR Walmart member who unloads trucks at a Walmart in Newport News, Virginia, said he plans to miss three shifts this week to take part in the demonstrations. Brown said he joined the group in September to demand a greater say in scheduling as well as "more respect" from management.

"Some [other workers] may want to do a strike as well but are hesitant," said Brown, 27. "They need to know they don't have anything to be afraid of. If we don't stand up, no one else is going to stand up for us."

Black Friday has become an annual rallying cry for the anti-Walmart crowd, with labor activists and other progressives pillorying the world's largest retailer over its wages and scheduling practices for store employees. It also marks the most contentious week of the year between the Arkansas-based retail giant and OUR Walmart, which is backed by the United Food and Commercial Workers, a union that's been working to organize Walmart employees for years.

Walmart has downplayed the significance of the strikes in years past, noting that they involve just a tiny fraction of the retailer's one-million-plus U.S. workforce, and painted them as union-orchestrated stunts. OUR Walmart tends to put the number of strikers in the hundreds each year, while Walmart puts it more in the dozens.

"Perception is not reality in this case," said Brooke Buchanan, a Walmart spokeswoman. "Year after year we see the labor union and paid organizers promising they'll be out in force. And every year, we see a handful of people at a handful of stores."

Noting that Walmart workers get a holiday bonus, Buchanan also threw this barb at OUR Walmart and UFCW: "Are they going to pay their workers double time for working the holiday?" A union spokeswoman said all employees are salaried and work "as needed," meaning there is no bonus.

The sight of Walmart workers going on strike in the past two years has provided a shot in the arm to the labor movement, even if the numbers aren't large enough to impact sales. Like the fast-food walkouts that have popped up in cities across the country, the Walmart strikes aren't necessarily meant to disrupt the company's operations, but instead to draw attention to the participants' grievances.

This year, the group's members are making a specific demand in the protests: a wage of $15 and "consistent, full-time hours." Not coincidentally, $15 per hour is the same demand being put forth by the fast food strikers, whose movement is billed as Fight for $15 and who are backed by the Service Employees International Union.

OUR Walmart members have also been calling for an end to what they describe as retaliation from management for speaking out.

Since the strikes began in 2012, UFCW has filed a host of unfair labor practice charges against Walmart with the National Labor Relations Board, some of which the board's general counsel found merit in, some of which it did not. The general counsel issued a complaint in January alleging that Walmart had illegally punished workers in several states surrounding the strikes. That case has not yet been resolved.

OUR Walmart, in turn, has faced a number of court injunctions barring its members from protesting on Walmart property in certain states due to trespassing.

Many of the protests have focused on a lack of stable hours for workers, who say they don't get enough time on the schedule in order to make ends meet. Walmart says that a majority of its workforce is full-time, though it doesn't provide an exact percentage. The company recently launched a program aimed at giving more hours to the workers who need them, though it insisted the program was not a response to the protests.

Glova Scott, an employee at a Walmart in Washington, D.C., said she has already called in to her store and told them she won't be coming in this week. Scott said she's been working for Walmart for a little over a year but just joined OUR Walmart a week and a half ago. Fifty-nine years old, she earns $10.90 an hour stocking shelves on the night shift.

"It's hard. We work in an atmosphere where the pay doesn't make ends meet, and a lot of my co-workers think the solution is to look for another job rather than try to improve conditions," said Scott. "I joined because I wanted to be part of a movement. I'm looking forward to going back to work and encouraging my co-workers to join me."

Thanksgiving Day Deals Trump Black Friday This Year

NEW YORK (AP) — Thanksgiving could be the best day to shop all year.

An analysis of sales data and store circulars by two research firms contradicts conventional wisdom that Black Friday is when shoppers can get the most and biggest sales of the year.

Turns out, shoppers will find more discounted items in stores that are open on Thanksgiving. For example, there are a total of 86 laptops and tablets deeply discounted as door buster deals at Best Buy, Wal-Mart and others on the holiday compared with just nine on Black Friday, according to an analysis of promotions for The Associated Press by researcher MarketTrack.

And on the Web, discounts will be deeper on the holiday. Online prices on Thanksgiving are expected to be about 24 percent cheaper compared with 23 percent on Black Friday and 20 percent on Cyber Monday, according to Adobe, which tracks data on 4,500 retail web sites.

The data is the latest proof that retailers are slowly redefining the Black Friday tradition. It's been the biggest shopping day of the year for years, mostly because it's traditionally when retailers pull out their best sales events. But in the last few years, retailers like the Gap, Target and Toys R Us have started opening their stores and offering holiday discounts on Thanksgiving to better compete with online rivals.

"I was surprised, but it really shifted one day," said Tamara Gaffney, principal analyst at Adobe, which is based in San Jose, California.

Shoppers already are noticing the deals on Thanksgiving. Corey Grassell, 34, of Appleton, Wisconsin, said he plans to shop for deals on Thanksgiving and bypass Black Friday. That's after he grabbed bargains last year on the holiday, including a washer-dryer combination at Sears for about $800, a 50 percent discount.

"I feel guilty for going out on Thanksgiving, but the deals are so much more attractive to me than on Black Friday," he says.

But some industry watchers fear others won't shop on Thanksgiving, choosing to keep the day sacred. Those who wait instead to shop on Black Friday could wind up being disappointed with the leftover deals, they say. In fact, according to Deloitte Research's recent survey of shoppers, about two-thirds say they're not motivated to go out to stores Thanksgiving because it's important to be with family and friends.

"Shoppers could be disappointed and find that the hot items on their list are not in stock on Black Friday because of the early push by retailers," says Traci Gregorski, MarketTrack's vice president of marketing.

She says she's conducting a survey of shoppers after the holiday shopping weekend to see how retailers fared. "We want to get shoppers' perception of these deals," she says.

Most big retailers acknowledge that they're starting to offer deals on Thanksgiving that previously were reserved for Black Friday.

Jeff Haydock, a spokesman at Best Buy, the nation's largest consumer electronics chain, said the best deals become available Thanksgiving when its doors open at 5 p.m. For example, one of Best Buy's Thanksgiving specials is a $899 55-inch LED Smart TV, the lowest price it has ever offered on a Samsung ultra-high definition TV of this size. That will be available on Friday —if supplies last.

"Naturally, more of the deals are being pulled into Thursday because our stores are open," says Haydock.

Brian Hanover, a spokesman at Sears, which is opening at 6 p.m. Thursday, also says Thanksgiving specials spill into Black Friday. But the quantities for the 1,000 door busters are limited. They include Nordic Track treadmills for $699.99, or an $800 discount, and a 36 percent savings on a Whirlpool laundry machine, regularly priced at $549.99.

"It probably behooves the customer to shop earlier on Thanksgiving," he says.

For its part, Wal-Mart, the world's largest retailer, says it's spreading out discounts online and in the store. But Gregorski, of MarketTrack's says its "evident" in Wal-Mart's circular that "the best deals are on Thanksgiving."

To be sure, for its two sales events on Thanksgiving, Wal-Mart devotes 36 pages of its circular to discounted TVs, computers and other items. On Black Friday? Wal-Mart has four pages of deals.

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Follow Anne D'Innocenzio at — https://twitter.com/adinnocenzio

Six Years Later, Walmart Still Hasn't Paid A $7,000 Fine For Black Friday Worker's Death

WASHINGTON -- This coming Black Friday will mark six years since a worker died beneath a throng of shoppers at a Walmart on Long Island. Although federal regulators faulted the retail giant in the tragedy, Walmart still hasn’t been compelled to pay the modest $7,000 fine that was levied against it.

The case, Department of Labor v. Walmart Stores, has not moved forward since HuffPost reported on it a year ago -- on appeal with a federal review commission that handles workplace safety fines. As of this writing, the commission lists the status of the case as “pending review.”

The case was first referred to the commission three and a half years ago. A spokeswoman for the commission said it does not comment on the timeline for pending cases.

It’s common for employers to appeal whatever penalties the Labor Department’s safety inspectors issue against them, including when workers are killed on the job. But the case of 34-year-old Jdimytai Damour, who had worked at Walmart for only a week when he was asphyxiated beneath the Black Friday crowd, underscores just how long those appeals can drag on, even in cases where the fines are comparably small.

Brooke Buchanan, a Walmart spokeswoman, said the retailer has made significant changes in recent years to minimize the frenzy among shoppers and make for a safer atmosphere, including spreading out merchandise that's on special and staggering sales times.

"After this horrible incident that happened six years ago, we took major steps working with crowd experts, law enforcement and people who do this for a living to see and help set up our stores," Buchanan said.

As HuffPost previously reported, Walmart, which had net sales of $473 billion last fiscal year, probably isn’t disputing the penalty in order to save $7,000, the maximum amount the Occupational Safety and Health Administration can fine a company for serious violations. Indeed, the company has already spent millions of dollars in legal costs just to fight the case. For Walmart, more significant than the nominal fine itself would be the ramifications if the fine were upheld.

OSHA used what’s known as the general duty clause as the foundation for its fine against Walmart. The clause holds that employers have a basic responsibility to provide a workplace that’s “free from recognized hazards that are causing or are likely to cause death or serious physical harm to [their] employees.”

In essence, the agency argues that Walmart should have foreseen the dangers presented by a mass of excited shoppers waiting at the store’s doors. An administrative law judge agreed back in 2011, though Walmart appealed that decision to the Occupational Safety and Health Review Commission, where cases often wait years for review.

OSHA regulations tend to be very specific, and the agency doesn’t often reach for the general duty clause because it isn’t so easy to prove what should be a “recognizable” hazard. Employers, unsurprisingly, often criticize citations using the general duty clause as too vague. That's what happened when OSHA cited a poultry processor recently for violating the clause and putting workers in danger of ergonomic hazards. Before that, OSHA hadn’t tried to wield the clause in such a case in more than a decade.

In the Black Friday case, Walmart would be more eager to defeat OSHA's arguments than to avoid the $7,000 penalty. The company has argued that the dangers on Black Friday could not have been predicted. If regulators ultimately succeed in their case, OSHA would theoretically have an easier time putting Walmart and other retailers on the hook for Black Friday disasters in the future.

In a deal to avoid prosecution, Walmart agreed to develop a new crowd control plan the year after Damour's death. For its part, OSHA has started issuing guidance each year on how stores can handle their sales events safely. The agency recently sent letters to the major retailers urging them to adopt their own plans ahead of Black Friday.

“Retail workers should not be put at risk,” David Michaels, the head of OSHA, said last week.

You're More Likely To Inherit Your Dad's Social Status Than His Height

Social mobility is a myth.

That is the depressing conclusion -- or, if you're already part of the social elite, the great news -- of a new study by economists Gregory Clark of the University of California, Davis, and Neil Cummins of the London School of Economics. The hope that we can claw our way up from our low station to someplace fancier is a delusion for most of us, according to this study. We inherit social status from our parents just as much as, if not more than, our physical traits.

And this social status often persists across many, many generations. The title of the study -- "Surnames and Social Mobility in England, 1170–2012" -- gives you some idea of just how many generations we're talking about here: 28 generations of 30 years each. The study looked at centuries of data on the social statuses of English families. It found that many of the families who were socially elite landowners in 1170 -- your Montgomerys, Nevilles, and Percys -- were still socially elite in 2012.

"Strong forces of familial culture, social connections, and genetics must connect the generations," the authors wrote. "There really are quasi-physical 'Laws of Inheritance.'"

The study used attendance at Oxford and Cambridge Universities ("Oxbridge") as a proxy for high social status; typically only elite students go to those schools. Across generations, the "correlation coefficient" -- a number that shows the strength of the correlation between two things, with a 0 meaning not correlated at all and 1 meaning perfect positive correlation -- was between 0.7 and 0.9 for generations of the same family going to Oxbridge. In comparison, the correlation coefficient for height between generations is just 0.64, according to one study cited by the researchers.

Hang on, you might be saying, isn't England notorious for low social mobility? Isn't it the land of Downton Abbey-style snooty inherited wealth? Sure. But guess what? The United States is really not much better. A 2013 study by Miles Corak of the University of Ottawa found that the U.K. and U.S. were two of the least socially mobile countries in the developed world. Here's a chart that puts this in perspective:

Note that, according to Corak's study, low levels of social mobility -- meaning it's hard to move from one social level to a higher one -- are also associated with high levels of income inequality.

This is the kind of world that French economist Thomas Piketty warns could become increasingly common -- one in which inherited wealth just keeps growing while incomes stagnate. It's the sort of the world we're living in today, come to think of it.

Most worryingly, the Clark-Cummins study found that social mobility hasn't really improved significantly in recent decades, despite social programs aimed at boosting it, such as higher tax rates on wealth and programs to help lower-class students get into Oxbridge.

Maybe we just haven't given such programs enough time to work, though. And given the many economic risks created by widening inequality, we shouldn't stop trying to boost social mobility.

Used Car Dealership Hit With $8 Million Fine For Allegedly Harassing Customers

Elizabeth Warren's brainchild watchdog agency is cracking down for the first time on a used car dealer that also acted as an auto lender for allegedly harassing customers who were late on their payments.

The Consumer Financial Protection Bureau, conceived by Sen. Warren (D. Mass.) during the financial crisis, fined Phoenix-based DriveTime Automotive Group, Inc., the country's largest "buy here, pay here" lender, $8 million on Wednesday. As part of a settlement agreement, DriveTime and its finance company, DT Acceptance Corporation, said they would change debt collection practices.

"Buy here, pay here" auto companies sell used cars, but consumer advocates say they operate more like subprime lenders. The companies offer low-income customers with poor credit ratings auto loans with interest rates that can top 30 percent, according to a 2011 Los Angeles Times investigation.

DriveTime’s average customer has an annual income of between $37,000 and $50,000, a FICO credit score between 461 and 554 and paid an average of 19 percent in interest on their loan, according to the CFPB. (According to FICO, a credit score of 660 or higher is typically considered "good.")

People who buy cars at these types of dealerships usually return to the lot to make payments, often in cash -- hence the term “buy here, pay here.” The companies also expect some of these buyers to fall behind on their payments, consumer attorneys say, which can benefit the dealer.

“When a customer defaults, the company can repossess the car and resell it again, often numerous times,” said John Van Alst, the director of the National Consumer Law Center’s “Working Cars For Working Families” project, which advocates for policy reform and transparency in used car and car finance markets.

DriveTime would repeatedly call customers who fell behind for payments, according to the CFPB settlement. Where the company fell afoul of the law, CFPB alleged, is when it called people at work, risking them getting fired. One DriveTime customer was called 30 times at work by the company’s collectors, even after the customer had asked them to stop, according to court documents. The CFPB charged that DriveTime management actually encouraged this tactic.

“Consumers who purchase a car at a buy-here, pay-here dealer deserve to be treated fairly,” said CFPB Director Richard Cordray. “DriveTime harassed and harmed countless consumers, many of whom were economically vulnerable.”

“DriveTime strives to comply with all applicable laws and provide exemplary service to our customers,” said company general counsel and Executive Vice President Jon Ehlinger in a prepared statement. “DriveTime had taken and has continued to take steps to enhance its customer experience, and loan servicing activities, including the handling of do not call requests.”

According to the settlement, DriveTime employes 290 collectors in order to secure its owed payments.

The DriveTime agreement marks the CFPB's first action against a “buy here, pay here” company, and signals that the growing federal agency -- newly minted in 2010 as part of the Dodd-Frank financial reform law -- is watching the industry, which has ballooned in size in recent years.

The number of cars sold by “buy here, pay here” lots in the U.S. grew from 1.3 million in 2001 to 2.4 million in 2010, according to the 2011 Los Angeles Times investigation. More recent data is hard to come by. “BHPH [buy here, pay here] is a fractured industry with few large or publicly traded participants, making it difficult to estimate transaction volume,” says the website of the Federal Deposit Insurance Corporation.

“Buy here, pay here” dealers represent around 10 percent of the overall auto finance market, said Chris Kuklas of the Center For Responsible Lending, research group that fights predatory lending practices. The overall auto finance market is worth $940.9 billion, according to the Federal Reserve.

At DriveTime, where at any given moment about 45 percent of customers were delinquent on their payments, calling people at work wasn’t the only law the company broke, regulators charged.

The settlement also alleges that the company inaccurately reported its customers to credit bureaus, even when DriveTime had “reasonable cause to believe” the information it was reporting was wrong. Regulators charged that when DriveTime repossessed its customers’ cars, it told the three biggest credit bureaus in the country that the repossessions had happened more recently than they actually had.

Having a car repossession listed on your credit report dings your credit score, and can make it more difficult to find a job or be approved for a credit card or mortgage.

DriveTime took steps to improve the way it reported customers to credit bureaus both before and during the CFPB investigation, Ehlinger said. The company is “look[ing] forward” to “improving its customer service and compliance practices” in coming years, he added.

Federal authorities have recently been cracking down on the way lenders sometimes unfairly harm consumers’ credit reports. Over the summer, the CFPB fined an auto lender in Texas $2.75 million for allegedly providing inaccurate information about borrowers to credit agencies for years.

“We’re focusing on accuracy with credit reporting because credit ratings have such an impact on people’s financial well-being,” CFPB spokesman Sam Gilford told The Huffington Post on Wednesday.

Kuklas said that "buy here, pay here" companies fall under the CFPB’s authority because they are more like debt collectors than car dealers. The agency has recently tried to clamp down on the tactics debt collectors use to get people to make payments on delinquent bills.

In August, the CFPB took action against a Georgia debt collection firm that it alleged operated like a “factory” in suing hundreds of thousands of people for old debts, while spending less than a minute reviewing each lawsuit for accuracy.

One out of every three Americans has an unpaid bill “in collections,” according to a July study by the Urban Institute, a Washington, D.C., think tank. Debts in collections can harm your credit score and even lead to your savings and wages getting seized.

CORRECTION: A previous version of this article stated that the number of "buy here, pay here" lots grew from 1.3 million in 2000 to 2.4 million in 2009. In reality, the number of cars sold by "buy here, pay here" lots grew from 1.3 million in 2001 to 2.4 million in 2010, according to a Los Angeles Times investigation.

Legal Pot In Washington Bringing In Even More Tax Revenue Than Predicted

OLYMPIA, Wash. (AP) — Washington's legal recreational marijuana market is bringing in more tax revenue to the state than originally predicted, state officials said Wednesday.

The most recent revenue forecast released by the Economic and Revenue Forecast Council shows that the industry is expected to bring in more than $694 million in state revenue through the middle of 2019. A previous forecast in September had that projection at about $636 million.

The latest report shows that nearly $43 million from a variety of marijuana-related taxes — including excise, sales, and business taxes — is expected to be collected through the middle of next year.

About $237 million is expected for the next two-year budget that ends mid-2017, and $415 million more is expected for the 2017-19 budget biennium.

The passage of Initiative 502 in 2012 allowed the sale of marijuana to adults for recreational use at licensed stores, which started opening this summer. Under the initiative, some of the tax money from the new system can be dedicated to the state general fund, while other portions are supposed to be devoted to health care, education and substance-abuse prevention.

So far, the state has issued 86 retail marijuana licenses, and 70 stores have opened. As of this week, revenue from total sales of recreational marijuana — including between producers, processers and product sold by retailers — totaled more than $40 million, with the state receiving more than $10 million in excise taxes, according to the state Liquor Control Board.

Steve Lerch, the revenue council's executive director, noted that because the industry is still new and developing, the numbers will continue to change.

"We continue to see growth in the number of producers, of processers and of retailers," Lerch said. With increasingly more access to retail marijuana, "we would expect to see some growth in those revenues," he said.

The 16 Best Black Friday Deals

This article was reported by DealNews, a site that scours the web for the best retail deals.

Now that the Black Friday ads are leaking at a steady pace, we're finally getting a clear picture of the 2014 Black Friday landscape. We've examined the advertised deals from stores like Target, Best Buy, and Walmart, and we're ready to pick some early winners. Keep in mind though that new ads will continue to trickle in, but in the meantime, here's our roundup of the top Black Friday ads so far.

The Best Black Friday Ads So Far

Panasonic 50" 1080p LED LCD HDTV for $199.99 at Best Buy
If you want to make a statement, offering a brand-name HDTV as your show-stealing doorbuster is a heck of a way to do it. This Panasonic 50" set comes in at an astonishing $99 below our Black Friday prediction for the 46" to 47" class TVs. In fact, this deal will be tied as the best price we've seen for any 50" HDTV by about $100 — including refurbs. (We've only seen a 50" TV drop this low once before, on Thanksgiving last year.) Best of all, this price outshines the leaked Black Friday prices for every other TV in this size range, including Target's incredible $235 48" set. The only drawback to this doorbuster is that you'll have to go to the store to grab it.

Asus Intel Laptop for $100 at Staples
We admit, this ad is as vague as you can get, but even without specifics it's safe to assume this laptop is housing a low-cost Intel Atom or Celeron processor. Nevertheless, as far as budget systems are concerned, this deal is poised to blow all other deals out of the water. Not only does it beat our laptop prediction for budget machines by $78, but when this deal comes to fruition, it will set a new benchmark for cheap laptops — and become the cheapest laptop in DealNews history.

Element 40" 1080p LED LCD HDTV for $119 at Target
Just when we thought 40" to 42" TV deals had plateaued, Target went and slashed the price of this 40" Element to $119. Not only does that destroy our Black Friday TV prediction for this size category by $59, but it's just $9 away from tying last year's best Black Friday price for a 32" TV. Without a doubt, this is the star of Target's Black Friday ad and easily snags a spot in our Top 10.

Vizio 65" 1080p Smart LED LCD HDTV for $648 at Walmart
Even if you don't consider Vizio to be a brand-name manufacturer, this 65" Smart TV doorbuster is spectacular. Starting at 6 pm local time, in-store shoppers can grab this set for $648, which is a whopping $102 less than the best price we've ever seen for any 65" HDTV, even refurbs. Better yet, this deal easily blows Best Buy's $800 LG TV out of the water.

Samsung 55" 4K 2160p Smart LED LCD Ultra HDTV for $899.99 at Best Buy
Remember when we said you shouldn't buy a name-brand smart TV on Black Friday? Here's the glaring exception to that rule. You don't even have to brave the in-store crowds to score this incredible Samsung 55" 4K Smart TV deal; according to the ad, this doorbuster will be available online. At $900, this set beats our August mention of a refurb, becoming the cheapest Samsung 55" 4K TV we've seen by $315.

Apple MacBook Air Haswell Core i5 11.6" Laptop for $779.99 at Best Buy
If you're shopping for a current-gen MacBook Air on Black Friday, this is definitely the deal to beat. That $780 price point not only shatters our Black Friday prediction by $19, but it blows past our previous all-time low by $70. Best of all, it knocks a delightful $120 off Apple's price.

Samsung Galaxy Tab 4 7" 8GB Android Tablet with $20 in SYWR points for $150 at Kmart
This is an incredible deal, bar none. First off, Kmart's ad price beats the best deal we've ever seen for this tablet by $6. Plus, the Shop Your Way Rewards credit brings this popular 7" slate to $20 below our Black Friday prediction for a small, mainstream Android tablet. Coincidentally, the credit also helps Kmart beat Sam's Club's leaked Black Friday price for this tablet.

Amazon Fire HD 6 6" 8GB WiFi Tablet with a $20 Meijer Custom Coupon for $79 at Meijer
Here's an ad that blows our Black Friday tablet predictions right out of the water. Against all odds, here's the Fire HD 6 (the bottom-tier tablet in Amazon's recently refreshed lineup), marked down by $20 with an extra $20 credit tacked on for good measure. Assuming you'll use the credit, that'll be 40% off and the very first discount we've seen on this tablet. Furthermore, Meijer's leaked price beats Kmart's by $11 once all credits are taken into account.

Apple iPhone 6 16GB Smartphone for $99 at Sam's Club
Although iPhone 6 deals have been mediocre since Apple's launch, this deal may be the one to open the floodgates. Outside of an early Walmart preorder, the 16GB iPhone 6 has not dropped below $179. This Sam's Club deal cuts the list price by 50% to just $99 (with a 2-year contract renewal), which is right on par with our iPhone prediction. Better yet, this price beats Target's iPhone 6 ad by $51. All of the Sam's Club Black Friday iPhone deals go live on November 15, so proceed with caution because other retailers may swoop in and undercut them.

Samsung Galaxy S5 16GB Android Phone for 1 cent at Target
We haven't seen a decent discount on a subsidized Samsung Galaxy S5 since August, and that one cost $100. Flash forward to Black Friday, when Target will drop this in-demand Android to just one penny (with the activation of a 2-year contract). Unless we start seeing for-profit deals, this is as good as smartphone ads get — it even beats Sam's Club's deal by about a buck.

Xbox One Halo: The Master Chief Collection Bundle with a $30 Walmart Gift Card for $329
We've seen quite a few noteworthy Xbox One bundle ads, but this one is our top pick. Although Target is offering the Assassin's Creed Unity version of this bundle paired with a $50 gift card, shoppers might think twice about dropping so much cash on a game that one critic called "my least favorite major Assassin's Creed since the 2007 original." On the other hand, this 6 pm doorbuster comes with four Halo games (as opposed to the other bundle's two), access to a beta, and more. The $30 gift card can even be used to further bulk up your Xbox One collection; Walmart will also have select Xbox One titles on sale from $20 during Black Friday.

However, if you are interested in the Target bundle, know that the heftier gift card means it's effectively $70 below our Black Friday prediction for a Kinect-less Xbox One.

Beats by Dr. Dre Solo HD On-Ear Headphones for $79.99 at Best Buy
Sorry, Target: Best Buy just became the place to buy a pair of Beats cans on Black Friday. Even we're floored by this $80 doorbuster; that ties the all-time best price we've seen for these headphones refurbished.

Apple iPad Air 2 16GB Tablet with $140 Gift Card for $499 at Target
Target is currently the king of iPad Air 2 deals bundling a very generous $140 Target gift card with the purchase of the 16GB model. That's effectively $140 off the tablet's retail price and easily trumps last Black Friday's $429 iPad Air low. If you don't want to deal with gift cards or if you just want to pay the least amount possible, Best Buy gets runner up for shaving $100 off the full cost of the iPad Air 2.

Dyson DC33 Multi-Floor Bagless Upright Vacuum for $199 at Walmart
Somewhere, a Dyson fan just fainted. We predicted that new Dysons would start at around $250, and this 6 pm doorbuster demolishes that price by $51. Furthermore, this price is $40 below our previous all-time low for a new unit.

Predator Generators 8,750W 13HP Gas Generator for $550 at Harbor Freight Tools
Power outages are probably the last thing on your mind this month, but emergency preparedness is always a good thing and this generator is $225 under the cheapest 8,000-watt generator we've seen all year. Even better, it also manages to undercut every 5,000-watt generator we've posted this year. While most experts recommend a 4,000-watt unit, at $550 you can afford to double the power. A great buy for home owners who've yet to purchase a generator.

4-Burner Gas Grill with Side Burner for $99 at Walmart
Although the summer months typically see better grill sales than Black Friday, this gas grill is a steal. At $99, it'll be tied with a May deal as the cheapest 4-burner gas grill we've seen in the past two years. Better still, this 6 pm doorbuster beats the next cheapest Black Friday gas grill by $61.

Every hour, more ads are trickling in, but the 2014 landscape is already packed with incredible offers. We hope we'll see more ads that are just as good as Staples' $100 laptop and Target's $119 TV in the coming days, but the deals above will certainly be hard to beat.

Excited for Black Friday deals? Consider subscribing to the DealNews Select Newsletter to get a daily recap of all our deals; you never know when a Black Friday price will be released! You can also download the DealNews apps, check out the latest Black Friday ads, or read more buying advice.

Americans Are Not Remotely Financially Ready For Retirement

The median American heading into retirement has just enough wealth to live on for a little more than three years, according to a new paper by the Center for Economic and Policy Research’s David Rosnick and Dean Baker.

These Americans are the first 401(k) generation: Their prime working years coincided with the 3 1/2 decades since the introduction of tax-deferred retirement accounts. And yet most of them have accumulated a relatively small amount of wealth, if any, outside of owning their home.

For Americans ages 55 to 64, net worth, the equity they own in their homes, and the value of other assets they own are each falling at precisely the time in their lives when they should be rising.

It’s a “pessimistic picture of economic progress since the end of the recession,” Rosnick and Baker write. The path of Americans’ net worth, including those about to stop working, hasn’t been a continual downward slide. In fact, Rosnick and Baker note that net worth grew significantly for more than two decades. But then, it was hit with the dual blows of a stock market and housing crash.

Net worth for the middle 20 percent of soon-to-be-retired Americans has fallen every year since 2004, and it is now just under $170,000. (The median is $165,700.) That might seem like a lot, but it’s just enough money to live at the median U.S. income of $52,000 for a little over three years. And when most of that wealth is tied up in a home, it's unclear how many of those in their upper 50s and early 60s plan to stay afloat without working or selling their home for what could easily be 20 or more years of retirement.

The poorest of the soon-to-be retirees have been hit the hardest. In comparison, the richest group is in an excellent position.

That is a chart of the wealth-destroying wrath of the housing crisis. It destroyed billions of dollars of net worth, and disproportionately hurt the poor, who are less likely to have any wealth outside their home.

Fewer Americans in the bottom 60 percent of wealth who are close to retirement own their homes than used to: In 1989, 77 percent of this group owned their homes, the researchers found. In 2013, that number was 60 percent.

And the poorer you are, the less of your home you own. This, the authors write, “implies these households will be paying off mortgages long into retirement, if they stay in their homes.”

Poorer near-retirees also own less outside of the value of their home than their wealthier counterparts:

The wealth, or absence of it, among Americans on the brink of traditional retirement age is another manifestation of a stock-market-led recovery. The stock market has boomed back from the financial crisis. Housing prices have recovered with it, but on a relatively smaller scale. Despite a more than 30-year commitment to tax-deferred personal retirement saving, stock ownership is not widely distributed across the American wealth spectrum. “House prices,” the authors write, are “a larger share of assets for the bottom three fifths of Americans.”

Recent years have shown that tying your net worth to your home’s price is, in fact, risky. Homeownership should not be a retirement plan.

This Is What Our Cash Could Look Like If It Didn't Celebrate Dead White Men

Americans swap photos of dead politicians for goods and services every day. If those same images are starting to bore you, designer Travis Purrington offers an innovative alternative design.

As part of a master's thesis design project at the Basel School of Design in Switzerland, Purrington developed new versions of U.S. currency. He based his designs on his study of other world currencies and America's currency history.

Purrington told The Huffington Post that, in his research, he found that the nation's founders did not intend to be immortalized on bills, as they saw the practice as "monarchical." In fact, most of the figures on our current bills were not added until the early 1900s. Purrington said it only seems right that our currency should focus on modernized American ideals and virtues instead.

"This isn't to dissolve the proud history of the USA," Purrington wrote in an email to HuffPost. "But the original Congress saw a danger in venerating men on money."

The $1 bill is notably absent from Purrington's designs. Some advocacy groups have said that using a dollar coin instead of a bill would save the government lots of money.

Purrington's bills vary slightly in size, much like the Euro system, which makes it easier to see how much money you have in your wallet.

Take a look at his redesigns. Remember, these are just hypothetical, and Purrington is in no way affiliated with the U.S. government. But still, we can always dream.

The $5 Bill

Virtue: Skill
Featured image: Neural connections
Latin Phrase: "LITTERA OCCIDIT SPIRITUS UIUIFICAT"
Translation: The letter kills the spirit brings to life
English Phrase: "We the People"
Other features: Sculpture by artist Alexander Calder, farmland, blood platelets

The $10 Bill

Virtue: Structure
Featured image: Nanotechnology
Phrase: "DITAT SERVATA FIDES"
Translation: Fidelity enriches
English Phrase: "Self Evident"
Other features: Guggenheim Museum by Frank Lloyd Wright, Willis Tower, circuit board

The $20 Bill

Virtue: Life
Featured image: Blood cell culture
Phrase: "LIBRATA & REFULGET"
Translation: Balance shines
English Phrase: "In Pursuit of"
Other features: DNA Helix, rolling wave, galaxy

The $50 Bill

Virtue: Innovation
Featured image: Circuit board
Phrase:"MEMOR ADVERSE"
Translation: Mindful of the adverse
English Phrase: "Home of the Brave"
Other features: Wright Brothers first flight, neurons

The $100 Bill

Virtue: Nature
Featured image: The universe
Phrase:"REMEDIA IN ARDUO"
Translation: Remedy in hardship
English Phrase: "Land of the Free"
Other features: The Sun, Teton National Park, buckyball

Here's all five, for good measure:

San Francisco Votes To Raise Minimum Wage To $15

San Francisco will gradually raise the minimum wage to $15 an hour over the course of three years after residents voted in the pay hike Tuesday, the San Francisco Chronicle reports.

The city’s minimum wage will increase to $12.25 per hour in May 2015 and to $13 per hour in July 2016. From there, the wage will go up by one dollar every year until July 2018 when it lands at $15 per hour, bringing the annual pay for a minimum-wage employee working full time to $31,000.

When announcing the measure in June after convening with activists, business representatives and city leaders, San Francisco Mayor Ed Lee (D) said the city's current $10.74 minimum wage "doesn't cut it."

The wage hike is a major step in addressing the city’s extreme economic inequality, triggered in part by the growth of Silicon Valley technology companies and the influx of their high-paid employees pricing out lower-income residents. One study this past summer found that the city’s income disparity was comparable to that of developing countries in Central America and sub-Saharan Africa.

San Francisco is already the city with the highest minimum wage, and passage of the wage increase will help it keep that placement. In the same month the city’s ballot measure was introduced, the Seattle City Council passed an ordinance gradually raising that city's minimum wage to $15, set to start taking effect in April 2015.

live blog

Oldest Newest Share + 11/05/2014 8:27 AM ESTChristie: GOP Wins Show Focus On Leadership

The AP reported Wednesday:

WASHINGTON (AP) -- New Jersey Gov. Chris Christie says Republican victories in governor's races across the country show voters want leaders who will "get things done," rather that fighting over ideology.

Christie, chairman of the Republican Governors Association and a possible 2016 candidate for president, said he was gratified by GOP wins in Democratic-leaning states such as Maryland, Massachusetts and Illinois, as well as victories in key swing states like Florida, Michigan, Wisconsin and Ohio.

Christie said voters "elect and re-elect governors to get things done."

Christie, who campaigned for GOP candidates across the country, said the winners deserve the credit, not him. He said elections are "always about the candidate."

Christie spoke Wednesday on NBC's "Today" show, ABC's "Good Morning America" and Fox News Channel.

Share this: Tweet Share tumblr Share + 11/05/2014 7:46 AM ESTPresident Obama To Address Midterm Results In Afternoon Press Conference

President Barack Obama will speak to the press Wednesday afternoon to address his party's resounding loss in the 2014 midterm elections, according to White House press secretary Josh Earnest. He is expected to strike a tone of compromise and accountability following a Republican takeover of the U.S. Senate and many of the nation's gubernatorial offices.

Obama tried reached out to Sen. Mitch McConnell (R-Ky.), who is widely expected to be the next senate majority leader and who also won re-election Tuesday night, and left a message, CNN reported.

The president's press conference will take place at 2:50 p.m. Eastern time from the East Room of the White House.

Igor Bobic

Share this: Tweet Share tumblr Share + 11/05/2014 6:57 AM ESTIndictment, Dog Killing, Infidelity Overcome By GOP Candidates

How bad was it for Democrats? Rep. Michael Grimm, a Republican facing a 20-count indictment won in New York and another known for outbursts of rage and killing a beagle, Mike Bost, won a seat in President Barack Obama's home state of Illinois that had been Democratic for 70 years.

Down in Tennessee, Rep. Scott DesJarlais' past infidelities and pushing of abortion on a mistress continued to not matter to voters, who handed him a landslide victory.

There were a couple of bright spots for Democrats, or at least the more moderate crowd. Florida Rep. Steve Southerland lost to Democrat Gwen Graham after holding an all-male fundraiser and joking about Graham in lingerie. And in Louisiana, GOP Rep. Vance McAllister, dubbed the "Kissing Congressman" after he was caught on tape smooching a staffer, finished far back in the field in his contest.

-- Michael McAuliff

Share this: Tweet Share tumblr Share + 11/05/2014 5:24 AM ESTExpect A Delay In Results

AP not calling these races until the number of outstanding votes can be verified: Va. gov.; Conn. gov.; Colo. gov.; Alaska gov, Senate.

— AP Politics (@AP_Politics) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 5:07 AM ESTAlaska Becomes 4th State To Legalize Recreational Marijuana

In yet another major pushback against the war on drugs, Alaska legalized recreational marijuana on Tuesday, joining Oregon and Washington, D.C. -- both of which legalized cannabis only hours before. Alaska becomes the fourth state in the U.S. to legalize retail marijuana, along with Oregon, Colorado and Washington state.

Voters approved Measure 2, which legalizes the possession, use and sale of recreational marijuana. Adults, age 21 and older, may possess up to 1 ounce of marijuana and grow up to six plants (with no more than three being mature) for personal use. The measure also legalizes the manufacture, sale and possession of marijuana paraphernalia, such as devices used for smoking or storing the plant.

“The folks trying to keep marijuana illegal are relying on the same scare tactics today that they have relied on for decades, but voters just aren’t falling for it anymore," Rob Kampia, executive director of the Marijuana Policy Project, said in a statement early Wednesday morning. "The results are particularly encouraging since voter turnout during a midterm election is typically smaller, older, and more conservative. Clearly, support for ending marijuana prohibition spans the political and ideological spectrums."

Read more here.

-- Matt Ferner

Share this: Tweet Share tumblr Share + 11/05/2014 4:28 AM ESTAh, Politics... Chicago-Style

People are STILL voting on Chicago's north side because of election judge problems @cbschicago #Election2014

— Elizabeth Godvik (@GodvikNewzGirl) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 3:40 AM ESTSarah Palin To GOP: You Didn't Build This

Former Alaska Governor Sarah Palin took to Facebook last night to issue a hearty congratulations -- and warning -- to her GOP brethren:

Thank you, wise voters! Tonight is a big victory for We the People! Credit is due to the victorious candidates. Your message to President Obama is undeniably received, though he'll try to ignore it.

...

The Democrats got mauled today, deservedly so. To prohibit that from happening to the GOP in 2016, it must learn the lesson from the last time Republicans held the Senate majority. This time they must not retreat, and it's our responsibility to hold them accountable. Will they fight for reform that aligns with the limited government planks of the Republican platform, or will they return to the big government cronyism and status quo favored by the permanent political class? Will they drain the swamp or decide the D.C. cesspool is really just a jacuzzi they can't wait to jump on into and shake us off?

If GOP leadership returns to business as usual, then this majority will be short lived, for We the People say, “once bitten, twice shy.”

Click here to read the full statement.

Share this: Tweet Share tumblr Share + 11/05/2014 2:55 AM ESTAlaska Approves Minimum Wage Increase

ANCHORAGE, Alaska (AP) _ Alaskans have voted to raise the minimum wage.

— Becky Bohrer (@beckybohrerap) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 2:39 AM ESTAlaska Rep. Don Young Projected To Win 22nd Term

The Associated Press is projecting that Rep. Don Young (R-Alaska) will win re-election as Alaska's only member of Congress.

--Sam Levine

Share this: Tweet Share tumblr Share + 11/05/2014 2:36 AM ESTVoter Turnout In The U.S. Is Always Awful.. And This Year Was No Different

Share this: Tweet Share tumblr Share + 11/05/2014 2:36 AM ESTDCCC Chair Tries To Find A Silver Lining

.@DCCC Chair @RepSteveIsrael: "In short, it could have been worse"

— Josh Lederman (@joshledermanAP) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 2:21 AM ESTMaine's Fourth-Largest City Legalizes Marijuana Possession

Voters in South Portland, Maine, the state's fourth-largest city, approved a measure that removes all legal penalties for possession of up to one ounce of marijuana by adults.

Public consumption and display remain illegal. Maine's largest city, Portland, legalized recreational marijuana last year.

A similar measure in Lewiston, the second-largest Maine city, failed Tuesday night.

-- Matt Ferner

Share this: Tweet Share tumblr Share + 11/05/2014 2:17 AM ESTCruz Says He Won't Challenge McConnell

Ted Cruz tells CBS that "under no circumstances" would he challenge McConnell for leader. So there's that.

— Susan Davis (@DaviSusan) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 2:15 AM ESTDemocrats Are Not Sugarcoating Tuesday's Election Results

Business Insider's Hunter Walker and Brett Logiurato report:

Democrats knew they were in trouble on election night Tuesday when a Virginia Senate seat that was expected to be a blowout victory began to come in much closer than expected.

"When you're cheering for an eke-out win in Virginia, not going to be a good night," one Democratic strategist told Business Insider.

Read more here.

Share this: Tweet Share tumblr Share + 11/05/2014 2:09 AM ESTHope And Change? Not This Time

Wednesday's front page, NY Daily News: pic.twitter.com/2mChPO9FuU

— Joel Siegel (@joelmsiegel) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 2:08 AM ESTPat Quinn Refuses To Concede Illinois Governor's Race As Rauner Declares Victory

CHICAGO -- Illinois Gov. Pat Quinn (D) addressed supporters late Tuesday night saying he was not ready to concede the election to challenger Bruce Rauner, despite the fact that the Associated Press and others have called the race for the Republican political newcomer.

“There are a lot of votes still to be counted,” Quinn told supporters. “I don’t believe in throwing in the towel when there are that many votes still to be counted.”

As of late Tuesday night, the splash page for the Quinn For Illinois campaign website said, "We're still waiting for the final results to come in. Thanks for your support."

Meanwhile, Rauner declared victory in a speech late Tuesday, promising a "new direction" for Illinois.

With 99 percent of precincts reporting by midnight Tuesday, only Quinn's Chicago base of Cook County tipped in his favor; Rauner won the influential "collar counties" around Chicago and easily carried downstate counties as well.

Cook County, which encompasses Chicago, was the only county that hadn't reported all its results at the time of Quinn's announcement. Election issues rippled throughout Chicago since the polls opened at 6 a.m. on Tuesday.

Election officials alleged "dirty tricks" were afoot after "malicious" robocalls were sent to election judges as early as Friday. Chicago Board of Election Commissioners spokesman Jim Allen told the Sun-Times that the calls -- which reportedly gave election judges false information about voting requirements and eligibility -- prompted more than 2,000 no-shows on Election Day.

"You're interfering with the orderly conduct of a federal election in our opinion," Allen said.

Fire crews had to break down the door of one polling place located inside a restaurant after the owners failed to show up and open. The polling station was just one of several that stayed open beyond the regular poll closing to accommodate the late start.

Additionally, a new policy that allowed voters to simultaneously register and vote at a polling place contributed to the hundreds of voters still waiting in line when the polls closed at 7 p.m.

-- Kim Bellware

Share this: Tweet Share tumblr Share + 11/05/2014 1:58 AM ESTDemocratic Gubernatorial Candidates Had A Very, Very Bad Night

HuffPost's Samantha Lachman reports:

Republicans had been predicted to take control of the Senate Tuesday evening, but Democrats hoped to do better in gubernatorial races. That hope was more than disappointed, as even Democrats who had been expected to easily win in Democratic-leaning states were defeated.

In deep-blue Maryland, Lt. Gov. Anthony Brown conceded to Republican Larry Hogan. In Massachusetts, Attorney General Martha Coakley suffered a crushing loss. And in Maine, deeply unpopular Republican Gov. Paul LePage beat back a challenge from Democratic Rep. Michael Michaud. In all three of those states,

Vermont Gov. Peter Shumlin, chairman of the Democratic Governors Association, didn't even get the requisite 50 percent of the vote needed to win outright in his state.

Read more here.

Share this: Tweet Share tumblr Share + 11/05/2014 1:35 AM ESTMia Love Projected Winner In Utah Congressional Race

Mia Love wins Utah House race, @AP projects http://t.co/x8zvDVQksC #election2014

— HuffPost Politics (@HuffPostPol) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 1:29 AM ESTIn Bed At A Reasonable Hour: Mitch McConnell's Election Night Extravaganza

HuffPost's Eliot Nelson reports:

When the crowd at Republican Sen. Mitch McConnell's election party first learned their candidate had won a sixth term to the U.S. Senate, the reaction was somewhat less than euphoric. A few yelps of excitement erupted here and there, but it seemed as if no one wanted to stand out by making a fuss. It took a few minutes, but the cheers eventually coalesced into something resembling a roar.

It was a decidedly understated bunch. Men in blazers with prep school haircuts had been mingling with demure women sporting bleach-blond helmet hairdos. Many of their children -- themselves seemingly straight out of a Crewcuts catalog -- noshed on complimentary bags of popcorn.

There were flashes of eclecticism, like the two young men toting a sign reading "COME AT ME BRO" featuring a picture of McConnell holding out his arms. Otherwise, the room felt less like a raucous, eardrum-shattering political celebration and more like history's rowdiest Presbyterian church mixer.

Read more here.

Share this: Tweet Share tumblr Share + 11/05/2014 1:27 AM ESTMartha Coakley Not Ready To Concede In Massachusetts

.@marthacoakley campaign says NO CONCESSION TONIGHT

— Sarah Birnbaum (@sbirn) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 1:17 AM ESTRand Paul Taunts Hillary Clinton After GOP Victory

Sen. Rand Paul (R-Ky.) wasted no time using the GOP’s new majority in the Senate in the face of potential 2016 presidential rival Hillary Clinton.

Paul posted an entire Facebook album of photos of Clinton campaigning with candidates who lost on Tuesday. Each photo was tagged #HillarysLosers.

On Twitter, Paul continued to attack Clinton, saying that the GOP’s victory on election day was a repudiation of her and President Barack Obama.

Today voters sent a message to Pres. Obama & Hillary Clinton, rejecting their policies & often, their candidates. pic.twitter.com/uQ07JIkwU9

— Senator Rand Paul (@SenRandPaul) November 5, 2014

You didnt think it could get worse than your book tour? It did. Courtesy of the U.S. voters: https://t.co/kGAZVFq7ze pic.twitter.com/zABFStFM67

— Senator Rand Paul (@SenRandPaul) November 5, 2014

-- Sam Levine

Share this: Tweet Share tumblr Share + 11/05/2014 1:16 AM ESTNew Jersey Passes Major Bail Reform

Voters approved Public Question No. 1, a bail reform measure that will reduce the pretrial incarceration of those accused of low-level drug violations. Poorer defendants who can't afford bail, but who are not considered a threat to the community, will now be eligible to be freed while awaiting trial through an alternative release system.

Judges can still deny pretrial release to individuals who pose a clear danger to the community, to repeat offenders and to those who are a probable flight risk.

A recent report from Luminosity and the Drug Policy Alliance found that almost 75 percent of the almost 15,000 individuals in New Jersey's jails are awaiting trial rather than serving out a sentence, and almost half of them remain incarcerated simply because they cannot afford bail. The Drug Policy Alliance backs Public Question No. 1.

-- Matt Ferner

Share this: Tweet Share tumblr Share + 11/05/2014 1:15 AM ESTElection Results Leave Immigration Advocates Frustrated With Obama

HuffPost's Elise Foley reports:

As of next year, the Senate will be controlled by Republicans, as will the House. The fact that the Senate flipped to Republicans wasn't necessarily surprising to advocates, but it was a frustrating reminder of the president's decision to delay executive action on immigration. That move was meant to protect vulnerable red-state Democrats like Hagan, but most of them either lost anyway or are poised to lose.

In Colorado, executive action could have boosted enthusiasm from Latino voters to the benefit of Udall. Instead, he lost to Republican Cory Gardner, whose immigration stances are far more conservative. The only tangible effect of the delay may have been the deportation of thousands of people who could have been helped by executive action.

Read more here.

Share this: Tweet Share tumblr Share + 11/05/2014 1:15 AM ESTCould The Shellacking Have Been Avoided?

HuffPost's Sam Stein and Ryan Grim report:

Call it a thumping. Call it a shellacking. However you want to describe the 2014 midterm elections, the point remains the same. Democrats took it on the chin Tuesday night, losing the Senate, getting crushed in winnable governors' races, solidifying their minority status in the House for years to come, and stemming the party's ability to continue putting its stamp on the judiciary.

The question is whether it was all avoidable. Democratic strategists will say that the party was dealt a terrible hand, forced to defend too many vulnerable Democrats in red states against too much money. It was, to be sure, a lousy hand. But Democrats never tried to play it.

Candidates across the country shunned the president, with one famously refusing even to say whether she voted for him; they ran from the party's signature accomplishment, national health care reform; and they panicked when the White House considered doing broad-based immigration reform by executive action. Instead, a robust get out the vote operation was supposed to save the party, which rested its hopes in shifting demographic trends and fear of GOP extremists. But when you don't give your voters much to "get out" for, what's left?

"We gave Dems no reason to run," said an adviser to President Barack Obama. "We ran as Dems-lite."

Read more here.

Share this: Tweet Share tumblr Share + 11/05/2014 1:13 AM ESTNew Mexico Voters Approve Ending Criminal Penalties For Marijuana Possession

Voters in New Mexico's Bernalillo and Santa Fe counties overwhelmingly approved the decriminalization of marijuana Tuesday. While they are nonbinding, the questions are aimed at gauging support for such a move.

The county questions com after the Santa Fe City Council's decision in August to decriminalize possession of marijuana and marijuana-related paraphernalia. The city's penalty was reduced to a $25 civil infraction.

-- Matt Ferner

Share this: Tweet Share tumblr Share + 11/05/2014 1:11 AM ESTWinner: Karl Rove

After the 2012 elections didn't quite go the way the GOP wanted it, Republicans responded by impaneling a team of experts to divine what hard lessons needed to be learn, and come up with a long-term strategy to get back on the winning side. That effort yielded the 100-page "Growth And Opportunity Project" report (more colloquially known as the "RNC Autopsy"). Progress on this venture has been decidedly mixed, at best.

Elsewhere, however, key GOP figures were contemplating a short-term solution, focused on the 2014 midterms. Chief among them was former Bush adviser and Fox News contributor Karl Rove. His vision: the Conservative Victory Project. Its goal: No more Todd Akins! Rove attributed key GOP losses to the fact that too many undisciplined candidates were making it through party primaries and into general elections against Democratic candidates that more seasoned, established GOP candidates could beat.

In an interesting coincidence of timing, Rove's project launched around the same time that Iowa's Democratic senator, Tom Harkin, announced he would be retiring. Subsequently, one of the first people to end up in the crosshairs of Rove's new organization was U.S. Rep. Steve King of Iowa. As The New York Times reported at the time:

Representative Steve King, a six-term Iowa Republican, could be among the earliest targets of the Conservative Victory Project. He said he had not decided whether he would run for the Senate, but the leaders of the project in Washington are not waiting to try to steer him away from the race.

The group’s plans, which were outlined for the first time last week in an interview with [American Crossroads president Steven J.] Law, call for hard-edge campaign tactics, including television advertising, against candidates whom party leaders see as unelectable and a drag on the efforts to win the Senate. Mr. Law cited Iowa as an example and said Republicans could no longer be squeamish about intervening in primary fights.

“We’re concerned about Steve King’s Todd Akin problem,” Mr. Law said. “This is an example of candidate discipline and how it would play in a general election. All of the things he’s said are going to be hung around his neck.”

Iowa ended up with Iowa state Sen. Joni Ernst as their standardbearer in that Senate race, and while she's pushed the envelope in the wrong direction at times, she's more or less proved to be a manageable candidate. (Though it arguably helped Ernst that the media, by and large, chose to give her multiple passes.) Over in Colorado, Rove got the sort of candidate he prefers in U.S. Rep. Cory Gardner -- again, a manageable alternative to Ken Buck. Throughout the primary season, Republicans avoided elevating the types of candidates -- your Todd Akins, Sharron Angles, and Richard Mourdocks -- that had previously sunk ambitions.

Tuesday, in the critical Colorado and Iowa races, Gardner and Ernst both prevailed, beating established Democratic candidates thought to have superior ground operations. The GOP may still need to revisit that "RNC autopsy." But in the short term, what Karl Rove wanted to get, he got.

-- Jason Linkins

Share this: Tweet Share tumblr Share + 11/05/2014 1:08 AM ESTOne Of The Nation's Most Unpopular Governors Wins Re-election

HuffPost's Amanda Terkel reports:

Maine Gov. Paul LePage (R) won re-election on Tuesday, despite being one of the most unpopular governors in the country.

LePage won in part for the same reason he did in 2010: A crowded race split Democratic votes, paving the way for his victory.

Read more here.

Share this: Tweet Share tumblr Share + 11/05/2014 1:07 AM ESTMaine Voters: We Want To Bait Bears

For the second time in 10 years, a ban on bear baiting, trapping and hounding was defeated by Maine voters on Tuesday.

According to the Bangor Daily News, the majority of liberal voters (those residing in the more urban Portland area) were for the ban. The rest of the state? Not so much.

The pro-ban campaign was funded almost entirely by the Humane Society of the United States, which hoped to convince voters that hunting the state's black bears using bait, dogs and traps was cruel and unsporting. The opposition claimed these practices were necessary to control the state's population.

With 54 percent of precincts reporting, the no votes were leading, 53 percent to 47 percent.

Click here for more.

Share this: Tweet Share tumblr Share + 11/05/2014 1:03 AM ESTRepublican Projected To Win Re-Election In Maine

Maine Gov. Paul LePage wins re-election http://t.co/l7QJfMRt4n #Elections2014

— HuffPost Politics (@HuffPostPol) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 12:58 AM ESTGOP Senators Begin Jockeying For Leadership Posts

confirmed: Thune will run for majr. conference chairman, per sources close to him. Expects McConnell and Cornyn to win top 2 posts.

— Robert Costa (@costareports) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 12:45 AM ESTBallot Measure To Drug-Test Doctors Fails In California

HuffPost's Lydia O'Connor reports:

Under Prop. 46, physicians could have been tested for drugs at random, within 24 hours of an adverse event suffered by a patient under their care, and when they were accused of possible substance abuse. Had it passed, California would have been the only state requiring random drug tests of doctors, the East Bay Express wrote.

Reform groups criticized that provision as ineffective in decreasing substance abuse, unfairly punitive of doctors and a step backward in ending the war on drugs. In a statement sent to The Huffington Post, the Drug Policy Alliance noted that random drug testing "cannot be used to determine the extent of drug misuse, impairment, frequency or amount of use." Moreover, it said, random drug-testing “often creates incentives to use riskier substances in counterproductive ways.”

Read more here.

Share this: Tweet Share tumblr Share + 11/05/2014 12:41 AM ESTSenate Now Has Enough Votes To Pass Keystone XL Pipeline Approval Bill

HuffPost's Kate Sheppard reports:

The new Senate Republican majority creates an opportunity for likely Majority Leader Mitch McConnell (R-Ky.) to force a vote on the proposed Keystone XL pipeline he's been waiting years to hold.

By The Huffington Post's count, the new Senate will have at least 61 votes in favor of a measure forcing the pipeline's approval -- a filibuster-proof majority.

Republican National Committee Chairman Reince Priebus said Tuesday in an appearance on MSNBC that passing a Keystone approval bill would be the second item on the Republican agenda, after a budget. "I actually think the president will sign the bill on the Keystone pipeline because I think the pressure -- he’s going to be boxed in on that, and I think it's going to happen," Priebus said.

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Share this: Tweet Share tumblr Share + 11/05/2014 12:28 AM ESTNobody Wants To Run Against Harry Reid For Minority Leader

Politico's Manu Raju reports:

Harry Reid will run for Senate minority leader, and it appears he will have no significant opposition.

Senior Senate Democratic aides said Tuesday night that Reid would have the full support of his entire leadership team, despite his party incurring huge losses on Election Night.

Read more here.

Share this: Tweet Share tumblr Share + 11/05/2014 12:22 AM ESTAmerica, Meet Your New Republican Bosses

HuffPost's Dana Liebelson reports:

Republican victories in Tuesday's Senate elections push out a Democratic old guard and usher in a new crop of hungry GOPers, some just getting their feet wet in politics.

Republicans won control of the Senate partly with the help of newcomers who ousted Democratic incumbents and whipped rivals for seats vacated by retiring liberal lions, whose political service spanned decades that included some of the biggest moments in modern U.S. political history. These departing senators have chaired powerful committees, authored landmark bills, exposed torture in Vietnam, debated CIA interrogation methods, and voted on the Iraq war.

Politically inexperienced Republicans fought to victory by linking Democratic opponents with President Barack Obama and by emphasizing business or military experience, rather than Washington savvy. A Republican outsider also snagged a seat held by a retiring Republican heavyweight: Businessman David Perdue, who will take the seat of departing Sen. Saxby Chambliss (R-Ga.).

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Share this: Tweet Share tumblr Share + 11/05/2014 12:20 AM ESTPat Quinn Wants Every Vote Counted In Illinois Gubernatorial Race

Quinn says "They're entitled to make sure that the election authorities in every single county, counts the votes."

— natasha korecki (@natashakorecki) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 12:19 AM ESTCalifornia Votes To Imprison Fewer People

HuffPost's Matt Sledge reports:

California approved a major shift against mass incarceration on Tuesday in a vote that could lead to the release of thousands of state prisoners.

Nonviolent felonies like shoplifting and drug possession will be downgraded to misdemeanors under the ballot measure, Proposition 47. As many as 10,000 people could be eligible for early release from state prisons, and it's expected that courts will annually dispense around 40,000 fewer felony convictions.

Read more here.

Share this: Tweet Share tumblr Share + 11/05/2014 12:15 AM ESTSam Brownback Projected To Win Re-Election In Kansas Gubernatorial Election

Kansas Gov. Sam Brownback wins re-election, @AP projects http://t.co/ofVzXwtzru #Election2014

— HuffPost Politics (@HuffPostPol) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 12:11 AM EST2016 Dem Contender Will Have To Explain Loss Of Historically Blue State

How does Martin O'Malley explain losing Maryland to the GOP on the 2016 trail?

— Scott Conroy (@RealClearScott) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 12:10 AM ESTMartha Coakley Loses Another Election In Massachusetts

Charlie Baker defeats Martha Coakley in Massachusetts governor's race, Fox and ABC project http://t.co/ofVzXwtzru #Election2014

— HuffPost Politics (@HuffPostPol) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 12:08 AM ESTDavid Axelrod Says Returns Show A Wave Election

Said on @NBCNews earlier that this was not a wave. But the returns since then say otherwise.

— David Axelrod (@davidaxelrod) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 12:07 AM ESTRepublican Larry Hogan Projected To Win Maryland Gubernatorial Race

BREAKING: GOP Larry Hogan wins election as governor of Maryland. @AP race call at 12:05 a.m. EST. #Election2014 #APracecall

— AP Politics (@AP_Politics) November 5, 2014

Share this: Tweet Share tumblr Share + 11/05/2014 12:04 AM ESTVermont Legislators Will Select Governor

BREAKING: Vermont legislature will pick governor after no candidate wins majority.

— The Associated Press (@AP) November 5, 2014

Share this: Tweet Share tumblr Share + 11/04/2014 11:56 PM ESTKay Hagan Announces Concession

Hagan: I just called Speaker Tillis to congratulate him pic.twitter.com/InaRTrM2dF

— W.J. Lowery (@WesleyLowery) November 5, 2014

Share this: Tweet Share tumblr Share + 11/04/2014 11:56 PM ESTAnti-Abortion Ballot Measure Passes In Tennessee

HuffPost's Laura Bassett reports:

Tennessee voters on Tuesday approved a controversial ballot measure that ensures the state constitution does not protect a woman's right to abortion under any circumstances. Nearly 54 percent of voters approved the measure, with 46 percent opposed, according to Politico.

Amendment 1 overrides the Tennessee Supreme Court's 2000 decision to block a 36-hour mandatory waiting period before abortions. The court had ruled the state constitution protects women's right to privacy, which includes the right to have an abortion.

Read more here.

Share this: Tweet Share tumblr Share + 11/04/2014 11:55 PM ESTMitch McConnell Claims To Admire Collegial Leaders, But Can He Be One?

HuffPost's Howard Fineman reports:

In his Capitol Hill office, Sen. Mitch McConnell (R-Ky.) proudly displays an oil painting of his state’s most famous senator, Henry Clay, “The Great Pacificator” and unifying statesman of 19th century America. But as the 72-year-old McConnell prepares to take over as Senate majority leader, a job he’s spent decades plotting to win, it’s not clear whether he can be -- or wants to be -- another Clay.

McConnell has said recently that the past majority leaders he most admires are two Democrats -- Mike Mansfield of Montana, who moved most of President Lyndon Johnson’s Great Society legislation, and George Mitchell of Maine, who was noted for his diplomatic and collegial style.

On Election Day, McConnell staffers referred me to a speech their boss had made in which he vowed to run a more bipartisan and consultative Senate than now exists. He would be Clay, Mansfield and Mitchell all rolled into one.

Many of his critics scoff at the notion.

Read more here.

Share this: Tweet Share tumblr Share + 11/04/2014 11:54 PM ESTAnother Kennedy Enters Politics

NECN reports:

Ted Kennedy Jr. has won his first political race and a seat in the Connecticut state Senate.

Kennedy is the 53-year-old son of the late U.S. senator and a nephew of President John F. Kennedy. He beat Republican Bruce Wilson Jr. on Tuesday for an open seat in a district along Connecticut's shoreline.

Kennedy had been mentioned in 2012 as a possible Democratic candidate for the U.S. Senate in his family's home state of Massachusetts. But he decided to seek office in Connecticut's 12th District, where he has lived for about 20 years.

Read more here.

Share this: Tweet Share tumblr Share + 11/04/2014 11:53 PM ESTMississippi Now Outlier On Political Progress For Women

Now there's only one state that's never elected a woman to federal office or the governorship: Mississippi. #2014

— Kasie Hunt (@kasie) November 5, 2014

Share this: Tweet Share tumblr Share + 11/04/2014 11:48 PM ESTTed Cruz Won't Commit To Mitch McConnell As Majority Leader

Ted Cruz won’t say whether he’ll support McConnell as Majority Leader

— Igor Bobic (@igorbobic) November 5, 2014

Share this: Tweet Share tumblr Share + 11/04/2014 11:48 PM ESTOregon Becomes Third State To Legalize Recreational Marijuana

The reformation of marijuana laws across the nation took another step forward Tuesday when voters in Oregon approved a measure to legalize the drug for recreational use.

Voters passed Measure 91, which legalizes the possession, use and sale of recreational marijuana for adults 21 and over, according to The Oregonian, NORML and a Fox affiliate in the state. Oregon becomes the third state in the nation to end the prohibition on cannabis.

"People are no longer being fooled by the anti-marijuana propaganda that they’ve been hearing their entire lives," said Mason Tvert, communications director for the Marijuana Policy Project.

“This is another example of voters standing up and saying, ‘Enough is enough.’ Marijuana prohibition has been a massive failure and voters are ready to move on. This is a particularly impressive victory because voter turnout for midterm elections is typically smaller, older, and more conservative. Clearly, support for ending marijuana prohibition spans all age groups and the ideological spectrum."

Read more here.

-- Matt Ferner

Share this: Tweet Share tumblr Share + 11/04/2014 11:46 PM ESTScott Brown Concedes In New Hampshire Senate Race

Scott Brown concedes http://t.co/p9A9YAaDcb #Election2014

— HuffPost Politics (@HuffPostPol) November 5, 2014

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JPMorgan Under Criminal Investigation Over Foreign Exchange Business

NEW YORK (AP) — The Department of Justice has opened a criminal investigation into JPMorgan Chase's foreign exchange business.

The announcement by the nation's largest bank follows a similar disclosure Thursday by Citigroup. Banks in the U.S. and abroad are facing allegations that they manipulated foreign-exchange rates. Besides the Justice Department, JPMorgan says civil enforcement authorities and foreign regulators are also investigating its foreign exchange business.

The New York bank said late Monday in a filing with the U.S. Securities and Exchange Commission that it had boosted the amount of money set aside for legal expenses. It now has $5.9 billion in reserve, up from the $4.6 billion it reported in August.

JPMorgan Chase & Co. has paid billions in penalties since the financial crises related to mortgages and huge investor losses.

Shares edged lower before the opening bell Tuesday.