Washington Wrap

Dotty Lynch, Douglas Kiker, Steve Chaggaris, Clothilde Ewing, Nicola Corless, Smita Kalokhe and Joanna Schubert of The CBS News Political Unit have the latest from the nation's capital. Sign Up for our daily Washington Wrap newsletter.

On Monday, he will endorse a measure that would require companies to count stock options against their bottom line. In his prepared remarks, Edwards says, "This is about honest accounting. It is a fundamental tenet of economic reform. If we're going to restore values to our economy, we need to do the right thing here."

Edwards' endorsement may cost him some key fundraising dollars in the big business realm, since high-tech companies have been long time opponents of the stock options reform. They say that stocks allow the employees to become part owners of the company and give them incentive to work for the company's success. But, Edwards support for the measure he says will root out "cozy insiders" and "corporate dictatorships" will bring praise from corporate reform supporters.

Also on Monday, Edwards will kick-off the first of many town hall meetings planned throughout New Hampshire in the coming weeks. The campaign boost comes at a time when some of Edwards' home state constituents are expressing some concern about the senator's intentions to run for his seat in 2004.

So far, Edwards has declined to comment and could wait as late as February to decide whether or not he will run for re-election to the Senate. By Feb. 27, many early primaries will be over and Edwards should know if he has a chance to be the Democratic nominee. But if Edwards doesn't decide soon, Democrats fear that the seat could fall into Republican hands.

"I think the latest Edwards can wait and be fair is Labor Day. Anytime after that is really going to hurt our nominee," Brad Crone, a Democratic political consultant in Raleigh told the News Observer.

Metaphor Alert! After a rough start at the NASCAR Craftsman Truck Series race, the candidate-sponsored Ford Truck came out on top. According to the AP, truck No. 50, sponsored by Democratic Presidential candidate Sen. Bob Graham, was the last to leave the gates in the O'Reilly Auto Parts 250 at Kansas Speedway on Saturday but the first to cross the finish line.

Victory was all the more sweet for driver John Wood, who earned his first career victory, as the truck named "Graham for President" was forced to start last due to an engine change. Although Woods was hesitant to disclose his political preferences, when asked about Graham, he said, "I can't say enough about that guy."

NASCAR events are particularly popular in the South and Midwest, areas whose voters often support Republicans but can be swayed to vote Democratic. Graham political consultant Dave Mudact Saunders, the James Carville of campaign 2004, used the NASCAR gimmick in the campaign of Virginia Gov. Mark Warner in 2001 and Warner became the first Democrat in decades to win Virginia's rural vote in a statewide race.

"They pulled that Democratic lever and it didn't hurt," Saunders told Craig Crawford in Congressional Quarterly. "Inside every rural Republican is a Democrat trying to get out, and there's not 50 cents difference in a rural-thinking American no matter where they live.".

Although press coverage of this and other colorful events enhance Graham's name recognition, the candidate is still struggling to get money and respectable poll ratings. In New Hampshire, Graham's name recognition has nearly doubled from 42 percent to 80 percent, but those who intended to vote for him stayed at 2 percent.

Politicians In Peril: It was a 4th of July weekend of accidents for several public officials, with a few dodging stage scenery in Philadelphia and one playing the role of a lifeguard in New Hampshire.

In the Philly incident, Mayor John Street and National Constitution Center president Joseph Torsella were slightly injured when a 15-foot wood and steel frame collapsed.

During the dedication of the Center, the three along with around 40 others - including Gov. Ed Rendell, Sen. Arlen Specter and Supreme Court Justice Sandra Day O'Connor – pulled on a curtain to unveil the Center's main entrance. After the frame came crashing down, O'Connor was shaken and was heard saying, "we could all have been killed there."

Street and Torsella were treated at a local hospital with the Mayor's arm put in a sling, according to the Philadelphia Inquirer.

The Inquirer also reports that in addition to the Philadelphia Police, the FBI and U.S. Park Police are investigating the incident. "We want to make sure no sabotage was involved," said a Philly police spokesman. The stagehand union responsible for putting up the frame is also looking into the problem.

Meantime, Gov. Mitt Romney, R-Mass., looked like he was auditioning for "Baywatch" as he helped rescue a family of six and their dog from a boat that was sinking in Lake Winnipesaukee in New Hampshire.

The Boston Herald reports that while relaxing at their summer home on Saturday, the governor and his two sons, Josh and Craig, reacted after hearing screams coming from the water. "We tore out of there," Josh Romney said about he and his brother. "And my dad hopped on the other Jet Ski and came out right after us."

The governor pulled the two youngest women onto his three-seater jet ski while the brothers took the mother back to shore, leaving three men behind. Gov. Romney then made two additional trips to pick up the remaining men.

As for the dog, a Scottish terrier, it was the first thing the Romneys grabbed because it was the only one not wearing a lifejacket. "It looked like it wasn't going to last much longer," Josh told the Herald.

With this rescue – and his recent history involving lakes - perhaps Gov. Romney should consider a career involving a lake when his time as governor is up.

This is Romney's second rescue at the lake according to the newspaper. Several years ago, the Romney men helped a group of kayakers who were in trouble. And, of course, Romney himself made headlines during his 2002 campaign after one of his TV ads featured him roughhousing with his sons in a lake while shirtless and in a bathing suit.

Clark-Biden Watch: At 20:04 tonight (that's 8:04 p.m. in civilian time) Supporters of Gen. Wesley Clark plan to gather across the country to raise their glasses to the former Supreme Commander of NATO. The "Draft Toast Across America" event will take place in 100 cities through meetup.com, the internet super tool credited with putting Howard Dean on the candidacy map.

Unlike most toasts, the guest of honor won't be in attendance, but who needs him, when the group has already managed to raise over $100,000 without Clark even declaring himself a candidate, much less which party he belongs to. The Drafters believe Clark's military background as well as his concerns about the war in Iraq make him an attractive candidate to many Democratic primary voters.

U.S. News' Washington Whispers puts Joe Biden's chances of running somewhere between 50 to 80 percent. They report that a top Democratic official says that Biden is at least 50-50 on joining "and some days is 70-30". A Biden family member told them that it's now closer to "80 percent" that he'll run.

THE POLITICAL WEEK AHEAD:

Mon. 7/7 – John Edwards kicks-off his summer Town Hall Tour with a town hall meeting in Concord, NH. He will also speak with Manchester Rotary Club members about his ideas for corporate rules and policy.

Mon. 7/7 – Joe Lieberman attends a roundtable discussion on jobs and innovation in Portsmouth, NH. Hadassah Lieberman will visit a senior center and meet with residents. Joe and Hadassah Lieberman will then visit a local diner to meet with patrons and tour the Ken-Mar Factory and meet with employees.

Mon. 7/7 – Bob Graham meet and greet with party activists in Norman, OK.

Mon. 7/7 – President Bush leaves for Africa trip.

Tue. 7/8 – Dick Gephardt attends healthcare roundtable with healthcare professionals in Detroit, Michigan and attends a meet and greet with supporters in Taylor, Michigan.

Tue. 7/8 - Howard Dean calling "a big strategy meeting" with his top advisers for Tuesday at his headquarters in Burlington, Vt., to decide how to make the most of this attention without stumbling in the way some past presidential candidates in his position have.

Wed. 7/9 – Dick Gephardt campaigns in Iowa.

Thu. 7/10 – Howard Dean campaigns in New Hampshire.

Thu. 7/10 – Dick Gephardt campaigns in Iowa.

Fri. 7/11 – John Edwards speaks at the Southwest Voter Registration Education Project Latin Vote 2003 Banquet in Los Angeles, CA.

Sat 7/12 – Dick Gephardt campaigns in Iowa.

Sun 7/13 –Dick Gephardt, D-Mo., takes part in Sen. Tom Harkin's "Hear
from the Heartland" series in Dubuque, Iowa.

Sun. 7/13 – John Edwards campaigns in Iowa.

QUOTE OF THE DAY: "Heh, heh, heh. Yeah, that's the one we want. Come on, everybody! Go, Howard Dean!" -- What WH adviser Karl Rove at the 37th annual Palisades Citizens' Association Fourth of July in DC (Washington Post).