If he gets the white and thw women's votes, it won't matter. And the Hispanic vote isn't going to be enough of a factor in the Bush states he could potentially swing.
It seems Mexican immigration has put New Mexico, Colorado, and Nevada (they think) into play. Obama is making a big lunge for them, trying to bust the Finkelstein Box in the West. But he has to open his own offices to work around the existing cadres, who, being older, are slow to cooperate with a black candidate, it turns out. Older Hispanics are cool to Obama, so he's trying to register and motivate young Hispanics to vote for him.