Read Larry Connors' blog – Short Term Trading Strategies
The court's decision, if it holds up, gives Franken the right to occupy the Senate seat once held by his opponent, Republican Norm Coleman. It will give Democrats a 60-vote supermajority able to overcome Republican filibusters in the Senate.
There has been no word yet as to whether Coleman will try to appeal the Minnesota court's decision in federal court.
If Coleman doesn't appeal, all that is left to do to make Franken's win official is for Minnesota Republican Governor Tim Pawlenty to certify Franken as the election winner.
Pawlenty said before the decision that he would certify whoever the court declared as the victor.
In the court case, Coleman argued that Minnesota election officials unfairly rejected thousands of absentee ballots, but the court ruled that there was no evidence of "foul play" or misconduct in the rejection of absentee ballots.
The unanimous court wrote that election officials fairly rejected ballots that didn't comply with state statutory provisions for voting by absentee ballot, and added that voters knew of the provisions and should have followed them.
"Because strict compliance with the statutory requirements for absentee voting is, and has always been required, there is no basis on which voters could have reasonably believed that anything less than strict compliance would suffice," the court wrote.
After the decision was handed down, Senate Majority Leader Harry Reid (D- Nev.) released a statement congratulating Franken for his win and expressing relief that the disputed election appears to be over.
"I once again encourage Governor Pawlenty to respect the votes of his constituents and the decisions of his state's highest court," Reid said. "He should put politics aside, follow his state's laws and finally sign the certificate that will bring this episode to an end."
The legal wrangling over the election results began immediately after the November 4 elections, which saw the incumbent Coleman holding a very slim lead over Franken.
The close vote led to an automatic recount of the 2.4 million ballots cast, and the recount gave Franken a 225-vote lead. The new results were contested by Coleman, who argued that previously rejected absentee ballots must be counted. A judicial panel agreed to add a few hundred of the rejected ballots, which expanded Franken's lead to 312.
For comments and feedback: contact editorial@rttnews.com Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
