November 9, 2016

Election update Noon

Private Prison Stocks Surge After Donald Trump Victory  CoreCivic ― which recently changed its name from Corrections Corporation of America ― saw its stock shoot up by more than 58 percent shortly after morning trading began.

Analysts: No hope for TPP after Trump win Donald Trump's victoryhas killed any chance of Congress voting on President Barack Obama's signature Asia-Pacific agreement in the lame-duck session that begins next week, say analysts.
Mike Pence could become one of the more influential vice presidents because he has the Washington experience and connections Trump lacks. “In many respects, Mike is the guy who is going to fill in all the blanks and help make many of the policy items of the conservative movement a reality,” said Texas Rep. Jeb Hensarling, a close friend. “I think he would be one of the more active vice presidents possibly in the history of the republic, certainly in recent memory.”
The pharmaceutical industry won big on Tuesday after California voters rejected a ballot referendum that would have capped drug prices for certain state programs. California voters reject Proposition 61, which would have forced drug companies to offer products for state healthcare programs at the same price paid by the U.S. Department of Veterans Affairs, which negotiates with drug makers for lower prices.

Voters in Colorado approved new taxes on cigarettes and soda,but rejected a proposal to increase payroll taxes to fund a statewide single-payer healthcare system.

California's gun ballot initiative, Proposition 63, passed last night with 63 percent of the vote. Although this fact was largely lost in the election noise, the most noteworthy and controversial aspects of the sweeping gun prop are already etched into law. In July, Gov. Jerry Brown signed off on legislation that, like Prop 63, outlawed the possession of magazines that carry more than 10 bullets, required background checks for buying ammunition, and banned the sale of certain types of semiautomatic assault rifles.

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