Riordan may have been a RINO and a doofus, but he hasn't been involved in a corporation that was found by a jury to be guilty of fraud. This on the same day that Worldcom execs turned themselves into the FBI. Voters aren't going to care about the facts of this case. They're simply going to see the name "Simon" associated with "corporate fraud" in the headlines today, and figure he's as tainted as Enron and Worldcom execs. This projects the absolutely worst image for a Republican candidate.
Your 2cents is right on, the Sacramento Bee this morning on the front page blasting Simon, blasting Big corporate meanies.
What great timing for the lib press on the same day get all of these great stories.