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Here's what's happening in the political world Saturday, March 24, 2018.Schwarzenegger: Gov. John Kasich would be 'a great alternative' to Trump-- Former California governor Arnold Schwarzenegger is touting Ohio Republican Gov. John Kasich as a "great alternative" to President Donald Trump.The actor and former head of California told CNN's Michael Smerconish he thinks Gov. Kasich should run against President Trump, should Trump fail to make good on his promises to voters. "People are going to judge the President before they go to the polls by his performance," Schwarzenegger, who is a Republican, said in an interview. "If Trump does a great job, then there's no reason to replace him. But what I'm saying is that John Kasich is a great alternative should he (Trump) not perform, because we don't know yet. We are only one year into his term."Schwarzenegger added he thinks the Ohio governor would be better than any candidate the Democratic party could offer. Kasich unsuccessfully fought for the 2016 Republican presidential nomination.Read more. 1118

Hello! And welcome to Movie...Pass?MoviePass, the ticket subscription company, is buying Moviefone, the 29-year old movie directory service.A lot has changed since Moviefone first started. It's hard to imagine now, but people used to call a number for movie times. Moviefone became so popular that its famous "Welcome to Moviefone" greeting was parodied in a famous "Seinfeld" episode.Moviefone still has a website and app, but it retired the 777-FILM phone service in 2014. (Seinfeld's Kramer must be pleased. "Why don't you just tell me the name of the movie you've selected?")AOL, now part of Verizon, bought Moviefone in 1999 for 8 million. But MoviePass isn't spending nearly as much to get Moviefone. MoviePass majority owner Helios and Matheson Analytics will pay Verizon only about million for Moviefone -- million in cash and a mix of HMNY stock and warrants worth about million, according to a Securities and Exchange filing Thursday.So why does MoviePass want Moviefone? MoviePass CEO Mitch Lowe told CNNMoney it wanted access to Moviefone's film and TV show content."Our subscribers want to connect with Hollywood and hear more about what's going on in the film industry," Lowe said. "They'd like to have MoviePass recommend movies to them and Moviefone is iconic."Lowe, a co-founder of Netflix and former president of DVD rental kiosk service Redbox, added that he hopes the acquisition will be a "great funnel to attract new members" to MoviePass, which currently has more than 2 million subscribers.Ted Farnsworth, CEO of Helios and Matheson Analytics, added that the marriage of MoviePass and Moviefone will hopefully lead to more advertising revenue."MoviePass is growing at warp speed. Put it and Moviefone together and it gives us more advertising opportunities," Farnsworth said in an interview with CNNMoney. "This is a great strategic move for us."MoviePass arguably needs more ad sales to convince skeptical investors that its business model of buying tickets from theaters and then offering them to subscribers at a discount through monthly and annual subscription plans is viable for the long haul. MoviePass lets people see a movie a day for .95 a month -- it recently cut its price from .95.Shares of Helio and Matheson Analytics have plunged nearly 55% this year. Investors are worried that MoviePass won't be profitable anytime soon.Part of the problem? We live in an era of so-called peak TV. Netflix, other streaming services and big cable TV networks are churning out more and more quality shows that eat into the time people have to go to movies.Investors also worry that the big chains that MoviePass currently buys tickets from -- AMC, Regal and Cinemark -- may eventually look to cut out MoviePass and launch their own subscription services or other lower-priced deals.Regal, which is now owned by UK-based Cineworld, has experimented with charging more for tickets during peak movie times and less at times when attendance tends to be lighter. Think of it as Uber-style surge pricing, but for movies.And Cinemark unveiled Movie Club, a monthly plan that lets people buy a movie ticket a month for a discounted price of .99, last year.That deal obviously isn't as good as the one a day plan offered by MoviePass. But Cinemark will also allow Movie Club members to roll over unused tickets every month, bring friends at the lower price and offers bargains on concession stand items.Lowe isn't too concerned about competition though. He said he's convinced that MoviePass will continue to work closely with the big chains -- even if Wall Street is nervous."We have to prove we are a driving force in getting more people into theaters. We have to try and put our money where our mouth is," he said. 3759

Hillary Clinton said Tuesday that President Donald Trump staged a "political rally" at Supreme Court Justice Brett Kavanaugh's ceremonial swearing-in that "further undermined the image and integrity of the court.""What was done last night in the White House was a political rally. It further undermined the image and integrity of the court," Clinton, Trump's Democratic 2016 election opponent, told CNN's Christiane Amanpour in an exclusive interview."And that troubles me greatly. It saddens me. Because our judicial system has been viewed as one of the main pillars of our constitutional government. So I don't know how people are going to react to it. I think, given our divides, it will pretty much fall predictably between those who are for and those who are against," Clinton said. 795

General Electric is under such financial stress that new CEO Larry Culp is slashing the troubled conglomerate's 119-year-old dividend to just a penny a share.GE revealed on Tuesday worse-than-expected results and a billion accounting writedown for its beleaguered power division. Culp plans to split up the power division to accelerate a turnaround.The company also announced that the SEC and Justice Department are investigating the charge, which reflects the deterioration of businesses GE has acquired. The news adds to GE's mounting legal problems and helped send the stock to a nine-year low in volatile trading.In a bid to fix GE's debt-riddled balance sheet, Culp announced the company will cut its quarterly dividend from 12 cents a share starting in 2019. By paying just a token dividend, GE (GE) will save about .9 billion of cash per year.Analysts had been anticipating a potential dividend cut, though not one of this magnitude.It's an especially painful move for a company that long viewed its stable dividend as a source of pride. But years of bad decisions forced GE to halve its dividend last November for just the second time since the Great Depression. The dividend cuts deal a blow to the many GE retirees and mom-and-pop shareholders who long relied on the cherished payouts."We are on the right path to create a more focused portfolio and strengthen our balance sheet," Culp said in a statement.Culp, who was suddenly named CEO on October 1, acknowledged during a conference call "this is not a quarter that we're particularly proud of." 1572

HOOD RIVER, Ore. -- A teenager who started the massive Eagle Creek Fire in Oregon has been ordered to pay more than in restitution, according to KOMO.The judge made the decision Monday. The teen’s attorney argued that the massive restitution would violate Oregon and U.S. constitutions because it would inflict “cruel and unusual punishment.”The Eagle Creek Fire started in September of 2017 and destroyed more than 48,000 acres of forest land in the Columbia River Gorge.The teen was 15 at the time of the fire. According to authorities, the teen was tossing fireworks into brush while hiking on the Eagle Creek Trail. One of the fireworks ignited the fire. 670