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Views: 4156
Ben Bernanke may not have sold Main Street on the largest bailout in American history, but it isn't for lack of trying. The Federal Reserve chairman appeared flustered speaking before Congress Wednesday as politicians skewered the $700.0 billion financial bailout he is backing questioning motivations for the plan and even whether it will work. “Americans are furious," said Sen. Chuck Schumer, D-N.Y., chairman of the Joint Economic Committee of Congress. Lawmakers were hearing "amazement, astonishment and intense anger" from their constituents, he said. Yet, he said a deal on a bailout would soon be reached, suggesting that all the Washington pushback may just be grandstanding. Still, it was the second day the bailout plan got a cool reception from lawmakers. (See "Paulson Plays Pinata.") Click here for complete article: http://www.forbes.com/markets/2008/09/24/bernanke-bailout-testimony-markets-equity-cx_md_0924markets26.html
Views: 4156
Ben Bernanke may not have sold Main Street on the largest bailout in American history, but it isn't for lack of trying. The Federal Reserve chairman appeared flustered speaking before Congress Wednesday as politicians skewered the $700.0 billion financial bailout he is backing questioning motivations for the plan and even whether it will work. “Americans are furious," said Sen. Chuck Schumer, D-N.Y., chairman of the Joint Economic Committee of Congress. Lawmakers were hearing "amazement, astonishment and intense anger" from their constituents, he said. Yet, he said a deal on a bailout would soon be reached, suggesting that all the Washington pushback may just be grandstanding. Still, it was the second day the bailout plan got a cool reception from lawmakers. (See "Paulson Plays Pinata.") Click here for complete article: http://www.forbes.com/markets/2008/09/24/bernanke-bailout-testimony-markets-equity-cx_md_0924markets26.html
Views: 4156
Ben Bernanke may not have sold Main Street on the largest bailout in American history, but it isn't for lack of trying. The Federal Reserve chairman appeared flustered speaking before Congress Wednesday as politicians skewered the $700.0 billion financial bailout he is backing questioning motivations for the plan and even whether it will work. “Americans are furious," said Sen. Chuck Schumer, D-N.Y., chairman of the Joint Economic Committee of Congress. Lawmakers were hearing "amazement, astonishment and intense anger" from their constituents, he said. Yet, he said a deal on a bailout would soon be reached, suggesting that all the Washington pushback may just be grandstanding. Still, it was the second day the bailout plan got a cool reception from lawmakers. (See "Paulson Plays Pinata.") Click here for complete article: http://www.forbes.com/markets/2008/09/24/bernanke-bailout-testimony-markets-equity-cx_md_0924markets26.html
Views: 11525
These four commercials for Ameriquest Mortgage do a good job of emphasizing that things are not always what they seem... don't rush to judgment, don't judge a book by its cover, etc. These were supposedly aired during the 2005 Superbowl.The campaign was created by advertising agency DDB Los Angeles. On the DDB team were creative director Helene Cote, art directors Feh Tarty and Michael Mittelstaedt, copywriters Pat McKay and Josh Fell, and agency producer Vanessa McAdam.Production company Morton Jankel Zander (MJZ), provided director Craig Gillespie, director of photography Rodrigo Prieto, producer Deb Tietjen, and executive producers David Zander and Lisa Rich.Editor Haines Hall works with Spot Welders who host ‘Surprise Dinner.’Sound was designed by Tom Ozanich, while music was composed by Mikael Sandgren from Soundelux DMG.Postscript:Ameriquest in May 2006 decided to close all 229 retail branches and cut 3,800 jobs, in the wake of the subprime mortgage crisis. Apparently the company had taken the ‘We won’t judge too quickly’ approach too far. The parent company, ACC Capital Holdings, was bought by Citigroup in 2007.Link to original article.
Views: 11525
These four commercials for Ameriquest Mortgage do a good job of emphasizing that things are not always what they seem... don't rush to judgment, don't judge a book by its cover, etc. These were supposedly aired during the 2005 Superbowl.The campaign was created by advertising agency DDB Los Angeles. On the DDB team were creative director Helene Cote, art directors Feh Tarty and Michael Mittelstaedt, copywriters Pat McKay and Josh Fell, and agency producer Vanessa McAdam.Production company Morton Jankel Zander (MJZ), provided director Craig Gillespie, director of photography Rodrigo Prieto, producer Deb Tietjen, and executive producers David Zander and Lisa Rich.Editor Haines Hall works with Spot Welders who host ‘Surprise Dinner.’Sound was designed by Tom Ozanich, while music was composed by Mikael Sandgren from Soundelux DMG.Postscript:Ameriquest in May 2006 decided to close all 229 retail branches and cut 3,800 jobs, in the wake of the subprime mortgage crisis. Apparently the company had taken the ‘We won’t judge too quickly’ approach too far. The parent company, ACC Capital Holdings, was bought by Citigroup in 2007.Link to original article.
Views: 11525
These four commercials for Ameriquest Mortgage do a good job of emphasizing that things are not always what they seem... don't rush to judgment, don't judge a book by its cover, etc. These were supposedly aired during the 2005 Superbowl.The campaign was created by advertising agency DDB Los Angeles. On the DDB team were creative director Helene Cote, art directors Feh Tarty and Michael Mittelstaedt, copywriters Pat McKay and Josh Fell, and agency producer Vanessa McAdam.Production company Morton Jankel Zander (MJZ), provided director Craig Gillespie, director of photography Rodrigo Prieto, producer Deb Tietjen, and executive producers David Zander and Lisa Rich.Editor Haines Hall works with Spot Welders who host ‘Surprise Dinner.’Sound was designed by Tom Ozanich, while music was composed by Mikael Sandgren from Soundelux DMG.Postscript:Ameriquest in May 2006 decided to close all 229 retail branches and cut 3,800 jobs, in the wake of the subprime mortgage crisis. Apparently the company had taken the ‘We won’t judge too quickly’ approach too far. The parent company, ACC Capital Holdings, was bought by Citigroup in 2007.Link to original article.
Views: 5856
Andretti Green Racing Records First Overall VictoryAugust 30, 2008Photos by SizzlerDETROIT, MI - Andretti Green Racing fulfilled the promise and potential it showed all season with its first overall victory in the American Le Mans Series on Saturday. James Rossiter and Franck Montagny won the Detroit Sports Car Challenge as Acura swept the overall podium for the first time in its two-year stint in the Series. Audi's Lucas Luhr and Marco Werner clinched the LMP1 driver championship when the race-winning Audi R10 TDI of Emanuele Pirro and Marcel Fässler was excluded after it failed to meet the required minimum weight in post-race technical inspection.The day was about Acura, however. The manufacturer also posted its second overall race victory and took the lead in the LMP2 manufacturer championship by four points over Porsche.The victory also ended a dry streak for Andretti Green which hadn't won in the Series since a debut win for the team and Acura at the Mobil 1 Twelve Hours of Sebring in 2007."Everything went to plan," said Rossiter, who won in his third Series start. "I managed to make up one place and maintain that to the end of my stint. We managed to keep it clean throughout. The team is really good and did a great job. The strategy was perfect and they deserved for us to be in first place."After Rossiter completed the opening stint, Montagny led the final 46 laps and drove the final two hours on the same set of Michelin street soft tires. The last stop was for fuel only.The Frenchman beat Patrón Highcroft Racing's David Brabham across the line by 3.985 seconds. De Ferran Motorsports' Acura of Gil de Ferran and Simon Pagenaud finished third, 28.836 seconds behind the Andretti Green entry.With their finish, Brabham and Scott Sharp pulled to within four points of the P2 driver championship lead, held by Penske Racing's Timo Bernhard and Romain Dumas. They finished fourth in class.Montagny and Rossiter drove only their third race together and were 12 minutes from a class win at Road America three weeks ago. Montagny crashed into a slower GT2 car that knocked the Acura out of the race. The duo has not been lacking for speed, and Andretti Green made its own luck with its strategic calls and dominating display."The team did a very good job in terms of strategy, which was especially good after Mosport where we struggled," Montagny said. "This time we were a little bit lucky. James did his stint with tires from qualifying and the car looked OK although there was a bit of understeer. The tires looked fine as well. We did put a lot of time on the tires, and I don't think they could have could have lasted another 10 laps or half-stint. It was very close all the time."Intersport Racing took the LMP1 victory following the exclusion of the No. 1 Audi and Lucas Luhr's crash in the second R10 TDI. The trio of Jon Field, Clint Field and Richard Berry ended Audi's 30-race class winning streak that dated back to Sebring in 2006.The win is Intersport's first of the year and its first since Clint Field and Liz Halliday won at Portland 2006 when they beat a pair of Penske Racing Porsches in LMP2. Jon Field's last victory came at Sebring in 2006, and Berry won for the first time. The Fields also became the 20th and 21st driver in Series history to win in multiple classes.Luhr and Werner claimed the P1 title with two rounds remaining and a 66-point gap over Pirro; only 55 points are available in the last two Series races. It is Werner's third championship and the fourth for Luhr, who becomes the first driver in Series history to win championships in three different classes (LMP1, LMP2, GT)."Of course we would have prefered to have won the title under different circumstances," said Luhr and Werner. "But with seven consecutive victories already this season we certainly feel we have earned the title." Corvette Racing's Oliver Gavin and Olivier Beretta won in GT1 for the first time since late March with more than a minute in hand to beat teammates Johnny O'Connell and Jan Magnussen. Three-time and defending class champions, Gavin and Beretta took the lead early when the No. 4 crew got the car out of pitlane ahead of the sister car during the first round of stops at the 40-minute mark."We have had some bad luck this year," Beretta said. "For the first time we didn't have any problems and we were the faster car. Ollie did a good job pushing the car up to the end. Our crew did a very good job and they have all three years. Michelin and Compuware were great this week. They are very strong and know what to do. They are experienced and have a winning spirit. They never give up."The Bell Motorsports' Aston Martin DBR9 of Terry Borcheller and Chapman Ducote finished third in class for the third straight race.The victory for Beretta and Gavin came in the shadows of General Motors' headquarters in downtown Detroit. They finished second last year and have had the speed to win more than twice this season. Luck was another matter."I haven't been so kind to the car the last couple of events and it was great to reward the guys for their hard work this year," Gavin said. "This is the place they want to win more than anywhere else. It is a fantastic team and they have themselves in a position that they know the car and the Series so well. It's one of the best sports car teams in the world if not the best."Gavin and Beretta still trail O'Connell and Magnussen by 31 points in the class championship. Flying Lizard Motorsports scored its third 1-2 finish of the season as GT2 championship leaders Jörg Bergmeister and Wolf Henzler bolstered their class lead with their fourth win of the season. The pair of Porsche factory drivers stayed clean while Ferraris from Tafel Racing and Risi Competizione had their problems, and Johannes van Overbeek was hit while leading by Penske's Bernhard. Henzler, the class polesitter, crossed the line 6.570 seconds ahead of van Overbeek who teamed with Patrick Pilet. Mika Salo and Jaime Melo, last week's winners at Mosport, finished third in Risi's lead Ferrari F430 GT."I said yesterday that my favorite part of the track was the start-finish line," Henzler joked after the race. "In my second stint I came out behind Johannes and I wasn't going to make a stupid move on him. Unfortunately he had an incident with a prototype and then it became hard to communicate with my pit crew. They couldn't hear me and I could barely hear them. I unplugged the radio, twisted it and suddenly it worked. At the end, another yellow came and I had to push a little more. Even after one lap, there was a big gap and it was easy at the end."The Lizard duo saw their championship lead jump from 10 points to 28 points as the Tafel Ferrari of Dirk Mueller and Dominik Farnbacher lost time in the pits with a faulty ignition. They finished ninth in class.The Lizards have been championship contenders since joining the Series since 2004 and finished second in both the team and driver championships last season."I don't want to jinx it," said Bergmeister, himself a two-time GT2 champion. "We are in good shape and still have to fight for race wins. You have to have luck to win a championship and everyone is trying their best. We're keeping our heads down and going forward.Link to original story...
Views: 5856
Andretti Green Racing Records First Overall VictoryAugust 30, 2008Photos by SizzlerDETROIT, MI - Andretti Green Racing fulfilled the promise and potential it showed all season with its first overall victory in the American Le Mans Series on Saturday. James Rossiter and Franck Montagny won the Detroit Sports Car Challenge as Acura swept the overall podium for the first time in its two-year stint in the Series. Audi's Lucas Luhr and Marco Werner clinched the LMP1 driver championship when the race-winning Audi R10 TDI of Emanuele Pirro and Marcel Fässler was excluded after it failed to meet the required minimum weight in post-race technical inspection.The day was about Acura, however. The manufacturer also posted its second overall race victory and took the lead in the LMP2 manufacturer championship by four points over Porsche.The victory also ended a dry streak for Andretti Green which hadn't won in the Series since a debut win for the team and Acura at the Mobil 1 Twelve Hours of Sebring in 2007."Everything went to plan," said Rossiter, who won in his third Series start. "I managed to make up one place and maintain that to the end of my stint. We managed to keep it clean throughout. The team is really good and did a great job. The strategy was perfect and they deserved for us to be in first place."After Rossiter completed the opening stint, Montagny led the final 46 laps and drove the final two hours on the same set of Michelin street soft tires. The last stop was for fuel only.The Frenchman beat Patrón Highcroft Racing's David Brabham across the line by 3.985 seconds. De Ferran Motorsports' Acura of Gil de Ferran and Simon Pagenaud finished third, 28.836 seconds behind the Andretti Green entry.With their finish, Brabham and Scott Sharp pulled to within four points of the P2 driver championship lead, held by Penske Racing's Timo Bernhard and Romain Dumas. They finished fourth in class.Montagny and Rossiter drove only their third race together and were 12 minutes from a class win at Road America three weeks ago. Montagny crashed into a slower GT2 car that knocked the Acura out of the race. The duo has not been lacking for speed, and Andretti Green made its own luck with its strategic calls and dominating display."The team did a very good job in terms of strategy, which was especially good after Mosport where we struggled," Montagny said. "This time we were a little bit lucky. James did his stint with tires from qualifying and the car looked OK although there was a bit of understeer. The tires looked fine as well. We did put a lot of time on the tires, and I don't think they could have could have lasted another 10 laps or half-stint. It was very close all the time."Intersport Racing took the LMP1 victory following the exclusion of the No. 1 Audi and Lucas Luhr's crash in the second R10 TDI. The trio of Jon Field, Clint Field and Richard Berry ended Audi's 30-race class winning streak that dated back to Sebring in 2006.The win is Intersport's first of the year and its first since Clint Field and Liz Halliday won at Portland 2006 when they beat a pair of Penske Racing Porsches in LMP2. Jon Field's last victory came at Sebring in 2006, and Berry won for the first time. The Fields also became the 20th and 21st driver in Series history to win in multiple classes.Luhr and Werner claimed the P1 title with two rounds remaining and a 66-point gap over Pirro; only 55 points are available in the last two Series races. It is Werner's third championship and the fourth for Luhr, who becomes the first driver in Series history to win championships in three different classes (LMP1, LMP2, GT)."Of course we would have prefered to have won the title under different circumstances," said Luhr and Werner. "But with seven consecutive victories already this season we certainly feel we have earned the title." Corvette Racing's Oliver Gavin and Olivier Beretta won in GT1 for the first time since late March with more than a minute in hand to beat teammates Johnny O'Connell and Jan Magnussen. Three-time and defending class champions, Gavin and Beretta took the lead early when the No. 4 crew got the car out of pitlane ahead of the sister car during the first round of stops at the 40-minute mark."We have had some bad luck this year," Beretta said. "For the first time we didn't have any problems and we were the faster car. Ollie did a good job pushing the car up to the end. Our crew did a very good job and they have all three years. Michelin and Compuware were great this week. They are very strong and know what to do. They are experienced and have a winning spirit. They never give up."The Bell Motorsports' Aston Martin DBR9 of Terry Borcheller and Chapman Ducote finished third in class for the third straight race.The victory for Beretta and Gavin came in the shadows of General Motors' headquarters in downtown Detroit. They finished second last year and have had the speed to win more than twice this season. Luck was another matter."I haven't been so kind to the car the last couple of events and it was great to reward the guys for their hard work this year," Gavin said. "This is the place they want to win more than anywhere else. It is a fantastic team and they have themselves in a position that they know the car and the Series so well. It's one of the best sports car teams in the world if not the best."Gavin and Beretta still trail O'Connell and Magnussen by 31 points in the class championship. Flying Lizard Motorsports scored its third 1-2 finish of the season as GT2 championship leaders Jörg Bergmeister and Wolf Henzler bolstered their class lead with their fourth win of the season. The pair of Porsche factory drivers stayed clean while Ferraris from Tafel Racing and Risi Competizione had their problems, and Johannes van Overbeek was hit while leading by Penske's Bernhard. Henzler, the class polesitter, crossed the line 6.570 seconds ahead of van Overbeek who teamed with Patrick Pilet. Mika Salo and Jaime Melo, last week's winners at Mosport, finished third in Risi's lead Ferrari F430 GT."I said yesterday that my favorite part of the track was the start-finish line," Henzler joked after the race. "In my second stint I came out behind Johannes and I wasn't going to make a stupid move on him. Unfortunately he had an incident with a prototype and then it became hard to communicate with my pit crew. They couldn't hear me and I could barely hear them. I unplugged the radio, twisted it and suddenly it worked. At the end, another yellow came and I had to push a little more. Even after one lap, there was a big gap and it was easy at the end."The Lizard duo saw their championship lead jump from 10 points to 28 points as the Tafel Ferrari of Dirk Mueller and Dominik Farnbacher lost time in the pits with a faulty ignition. They finished ninth in class.The Lizards have been championship contenders since joining the Series since 2004 and finished second in both the team and driver championships last season."I don't want to jinx it," said Bergmeister, himself a two-time GT2 champion. "We are in good shape and still have to fight for race wins. You have to have luck to win a championship and everyone is trying their best. We're keeping our heads down and going forward.Link to original story...
Views: 4431
Surrounded by an enormous, adoring crowd, Barack Obama promised a clean break from the "broken politics in Washington and the failed policies of George W. Bush" Thursday night as he embarked on the final lap of his audacious bid to become the nation's first black president."America, now is not the time for small plans," the 47-year-old Illinois senator told an estimated 84,000 people packed into Invesco Field, a huge football stadium at the base of the Rocky Mountains.He vowed to cut taxes for nearly all working-class families, end the war in Iraq and break America's dependence on Mideast oil within a decade. By contrast, he said, "John McCain has voted with President Bush 90 percent of the time," a scathing indictment of his Republican rival _ on health care, education, the economy and more.Polls indicate a close race between Obama and McCain, the Arizona senator who stands between him and a place in history. On a night 45 years after Martin Luther King Jr. delivered his "I have a Dream Speech," Obama made no overt mention of his own race."I realize that I am not the likeliest candidate for this office. I don't fit the typical pedigree" of a presidential candidate was as close as he came to the long-smoldering issue that may well determine the outcome of the election.Fireworks lit the night sky as Obama accepted the cheers of his supporters. His wife, Michelle, and their daughters Malia and Sasha joined him, and the country music sounds of "Only in America" filled the stadium.Campaigning as an advocate of a new kind of politics, he suggested at least some common ground was possible on abortion, gun control, immigration and gay marriage.Obama delivered his 44-minute nominating acceptance speech in an unrivaled convention setting, before a crowd of unrivaled size _ the filled stadium, the camera flashes in the night, the made-for-television backdrop that suggested the White House, and the thousands of convention delegates seated around the podium in an enormous semicircle.Obama and his running mate, Sen. Joseph Biden. of Delaware, leave their convention city on Friday for Pennsylvania, first stop on an eight-week sprint to Election Day.McCain countered with a bold move of his own, hoping to steal some of the political spotlight by spreading word that he had settled on a vice presidential running mate. Minnesota Gov. Tim Pawlenty canceled all scheduled appearances for the next two days, stoking speculation that he was the one.Rep. John Lewis of Georgia spoke from the convention stage of the anniversary of King's memorable speech."Tonight we are gathered here in this magnificent stadium in Denver because we still have a dream," said the Georgia lawmaker, who marched with King, supported Obama's primary rival, Hillary Rodham Clinton, then switched under pressure from younger black leaders in his home state and elsewhere.Obama's aides were interested in a different historical parallel from King _ Obama was the first to deliver an outdoor convention acceptance speech since John F. Kennedy did so at the Los Angeles Coliseum in 1960.In his speech, Obama pledged to jettison Bush's economic policy _ and replace it with his own designed to help hard-pressed families."I will cut taxes for 95 percent of all working families. Because in an economy like this, the last thing we should do is raise taxes on the middle class," he said.The speech didn't mention it, but Obama has called for raising taxes on upper-income Americans to help pay for expanded health care and other domestic programs.He did not say precisely what he meant by breaking the country's dependence on Mideast oil, only that Washington has been talking about doing it for 30 years "and John McCain has been there for 26 of them."Criticized by the GOP for his thin foreign policy portfolio, Obama said he welcomed a national security debate with McCain."We are the party of Roosevelt. We are the party of Kennedy. So don't tell me that Democrats won't defend this country," Obama said. "I will never hesitate to defend this nation."He said McCain had no standing on foreign policy, not after backing the Iraq war from the start and rejecting timetables for withdrawal now accepted by Bush. "John McCain stands alone in his stubborn refusal to end a misguided war," he said.Obama's pledge to end the war in Iraq responsibly was straight from his daily campaign speeches."I will rebuild our military to meet future conflicts. But I will also renew the tough, direct diplomacy that can prevent Iran from obtaining nuclear weapons," he added.As he does so often while campaigning, Obama also paid tribute to McCain's heroism _ the 72-year-old Arizona senator was a prisoner of war in Vietnam _ then assailed him."Sen. McCain likes to talk about judgment, but really, what does it say about your judgment when you think George Bush was right more than 90 percent of the time?Former Vice President Al Gore picked up on the same theme. "If you like the Bush-Cheney approach, John McCain's your man. If you want change, then vote for Barack Obama and Joe Biden," he declared.The much-discussed stage built for the program was evocative of the West Wing at the White House, with 24 American flags serving as a backdrop. A blue carpeted runway jutted out toward the infield, and convention delegates ringed the podium. Thousands more sat in stands around the rim of the field.The wrap-up to the party convention blended old-fashioned speechmaking, Hollywood-quality stagecraft and innovative, Internet age politics.The list of entertainers ran to Sheryl Crow, Stevie Wonder and will.i.am, whose Web video built around Obama's "Yes, we can" rallying cry quickly went viral during last winter's primaries.In a novel bid to extend the convention's reach, Obama's campaign decided to turn tens of thousands of partisans in the stands into instant political organizers.They were encouraged to use their cell phones to send text messages to friends as well as to call thousands of unregistered voters from lists developed by the campaign.In all, Obama's high command said it had identified 55 million unregistered voters across the country, about 8.1 million of them black, about 8 million Hispanic and 7.5 million between the ages of 18 and 24.Those are key target groups for Obama as he bids to break into the all-white line of U.S. presidents and at the same time restore Democrats to the White House for the first time in eight years.The Democratic man of the hour paid a brief visit to members of his home-state Illinois delegation before the curtain went up on his show. "I came by (because) I had this speech tonight. I wanted to practice it out on you guys. See if it worked on a friendly audience," he joked.There was no joking about the stakes in the speech, a once-in-a-campaign opportunity to speak to millions of voters who have yet to make up their minds between McCain and him. The polls show a close race nationally, with more than enough battleground states tight enough to tip the election either way.Obama's hopes of victory rely on holding onto the large Democratic base states such as California, New York, Michigan and his own Illinois, while eating into territory that voted for George W. Bush. Ohio tops that list, and Democrats have also targeted Montana, North Dakota, Virginia and New Mexico, among others, as they try to expand their Electoral College map.McCain was in Ohio as Obama spoke, and after a series of sharply negative convention week television commercials, his campaign aired a one-night advertisement that complimented Obama and noted the speech occurred on the anniversary of King's famous address."Senator Obama, this is truly a good day for America. Too often the achievements of our opponents go unnoticed. So I wanted to stop and say, 'Congratulations,'" McCain says in the ad."How perfect that your nomination would come on this historic day. Tomorrow, we'll be back at it. But tonight Senator, job well done."
Views: 4431
Surrounded by an enormous, adoring crowd, Barack Obama promised a clean break from the "broken politics in Washington and the failed policies of George W. Bush" Thursday night as he embarked on the final lap of his audacious bid to become the nation's first black president."America, now is not the time for small plans," the 47-year-old Illinois senator told an estimated 84,000 people packed into Invesco Field, a huge football stadium at the base of the Rocky Mountains.He vowed to cut taxes for nearly all working-class families, end the war in Iraq and break America's dependence on Mideast oil within a decade. By contrast, he said, "John McCain has voted with President Bush 90 percent of the time," a scathing indictment of his Republican rival _ on health care, education, the economy and more.Polls indicate a close race between Obama and McCain, the Arizona senator who stands between him and a place in history. On a night 45 years after Martin Luther King Jr. delivered his "I have a Dream Speech," Obama made no overt mention of his own race."I realize that I am not the likeliest candidate for this office. I don't fit the typical pedigree" of a presidential candidate was as close as he came to the long-smoldering issue that may well determine the outcome of the election.Fireworks lit the night sky as Obama accepted the cheers of his supporters. His wife, Michelle, and their daughters Malia and Sasha joined him, and the country music sounds of "Only in America" filled the stadium.Campaigning as an advocate of a new kind of politics, he suggested at least some common ground was possible on abortion, gun control, immigration and gay marriage.Obama delivered his 44-minute nominating acceptance speech in an unrivaled convention setting, before a crowd of unrivaled size _ the filled stadium, the camera flashes in the night, the made-for-television backdrop that suggested the White House, and the thousands of convention delegates seated around the podium in an enormous semicircle.Obama and his running mate, Sen. Joseph Biden. of Delaware, leave their convention city on Friday for Pennsylvania, first stop on an eight-week sprint to Election Day.McCain countered with a bold move of his own, hoping to steal some of the political spotlight by spreading word that he had settled on a vice presidential running mate. Minnesota Gov. Tim Pawlenty canceled all scheduled appearances for the next two days, stoking speculation that he was the one.Rep. John Lewis of Georgia spoke from the convention stage of the anniversary of King's memorable speech."Tonight we are gathered here in this magnificent stadium in Denver because we still have a dream," said the Georgia lawmaker, who marched with King, supported Obama's primary rival, Hillary Rodham Clinton, then switched under pressure from younger black leaders in his home state and elsewhere.Obama's aides were interested in a different historical parallel from King _ Obama was the first to deliver an outdoor convention acceptance speech since John F. Kennedy did so at the Los Angeles Coliseum in 1960.In his speech, Obama pledged to jettison Bush's economic policy _ and replace it with his own designed to help hard-pressed families."I will cut taxes for 95 percent of all working families. Because in an economy like this, the last thing we should do is raise taxes on the middle class," he said.The speech didn't mention it, but Obama has called for raising taxes on upper-income Americans to help pay for expanded health care and other domestic programs.He did not say precisely what he meant by breaking the country's dependence on Mideast oil, only that Washington has been talking about doing it for 30 years "and John McCain has been there for 26 of them."Criticized by the GOP for his thin foreign policy portfolio, Obama said he welcomed a national security debate with McCain."We are the party of Roosevelt. We are the party of Kennedy. So don't tell me that Democrats won't defend this country," Obama said. "I will never hesitate to defend this nation."He said McCain had no standing on foreign policy, not after backing the Iraq war from the start and rejecting timetables for withdrawal now accepted by Bush. "John McCain stands alone in his stubborn refusal to end a misguided war," he said.Obama's pledge to end the war in Iraq responsibly was straight from his daily campaign speeches."I will rebuild our military to meet future conflicts. But I will also renew the tough, direct diplomacy that can prevent Iran from obtaining nuclear weapons," he added.As he does so often while campaigning, Obama also paid tribute to McCain's heroism _ the 72-year-old Arizona senator was a prisoner of war in Vietnam _ then assailed him."Sen. McCain likes to talk about judgment, but really, what does it say about your judgment when you think George Bush was right more than 90 percent of the time?Former Vice President Al Gore picked up on the same theme. "If you like the Bush-Cheney approach, John McCain's your man. If you want change, then vote for Barack Obama and Joe Biden," he declared.The much-discussed stage built for the program was evocative of the West Wing at the White House, with 24 American flags serving as a backdrop. A blue carpeted runway jutted out toward the infield, and convention delegates ringed the podium. Thousands more sat in stands around the rim of the field.The wrap-up to the party convention blended old-fashioned speechmaking, Hollywood-quality stagecraft and innovative, Internet age politics.The list of entertainers ran to Sheryl Crow, Stevie Wonder and will.i.am, whose Web video built around Obama's "Yes, we can" rallying cry quickly went viral during last winter's primaries.In a novel bid to extend the convention's reach, Obama's campaign decided to turn tens of thousands of partisans in the stands into instant political organizers.They were encouraged to use their cell phones to send text messages to friends as well as to call thousands of unregistered voters from lists developed by the campaign.In all, Obama's high command said it had identified 55 million unregistered voters across the country, about 8.1 million of them black, about 8 million Hispanic and 7.5 million between the ages of 18 and 24.Those are key target groups for Obama as he bids to break into the all-white line of U.S. presidents and at the same time restore Democrats to the White House for the first time in eight years.The Democratic man of the hour paid a brief visit to members of his home-state Illinois delegation before the curtain went up on his show. "I came by (because) I had this speech tonight. I wanted to practice it out on you guys. See if it worked on a friendly audience," he joked.There was no joking about the stakes in the speech, a once-in-a-campaign opportunity to speak to millions of voters who have yet to make up their minds between McCain and him. The polls show a close race nationally, with more than enough battleground states tight enough to tip the election either way.Obama's hopes of victory rely on holding onto the large Democratic base states such as California, New York, Michigan and his own Illinois, while eating into territory that voted for George W. Bush. Ohio tops that list, and Democrats have also targeted Montana, North Dakota, Virginia and New Mexico, among others, as they try to expand their Electoral College map.McCain was in Ohio as Obama spoke, and after a series of sharply negative convention week television commercials, his campaign aired a one-night advertisement that complimented Obama and noted the speech occurred on the anniversary of King's famous address."Senator Obama, this is truly a good day for America. Too often the achievements of our opponents go unnoticed. So I wanted to stop and say, 'Congratulations,'" McCain says in the ad."How perfect that your nomination would come on this historic day. Tomorrow, we'll be back at it. But tonight Senator, job well done."