? There is a serious effort currently underway in California to unseat 
Senator Burton (D-San Francisco), President Pro Tem.   Even though the 
chances of this happening are relatively low, John Bryson, CEO of SoCal, with 
the support of the Governor, are making huge efforts to oust Burton and 
replace him with one of two potential candidates - Richard Alarcon (D-San 
Fernando Valley), Majority Whip or Sheila Kuehl (D-Los Angeles).  Alarcon has 
already stated that he would not accept the position.  However, at minimum, 
Bryson, Governor Davis and/or other Senators hope that Burton will rethink 
his position on the MOU and a SoCal bailout.
? Additionally, behind the scenes, things are looking very grim for 
California due the implications of Direct Access.  The biggest opponent of 
Direct Access comes from the Governor's office as they realize the potential 
effects of direct access and how it could undermine the revenue stream 
supporting the bond issuance.