That’s what John Fund says:
Almost everyone expects Arnold Schwarzenegger to use his appearance tonight on “The Tonight Show” to explain why he isn’t seeking the governorship and then to tout the candidacy of former Los Angeles mayor Richard Riordan. But what if Arnold makes a last-minute decision to join the race? Those who know his Hollywood negotiating tactics tell journalists he often keeps producers on hold until the last minute and then jumps in with a “total commitment.” The Western Political Report concluded yesterday that “Schwarzenegger is not out of the running and Riordan is not a sure thing to jump in.” His campaign aides say they honestly don’t know what he will do. Apparently, the 73-year-old Riordan would strongly prefer his close friend Mr. Schwarzenegger to run instead.