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With about 70 percent of the votes counted, the Los Angeles Times reports this morning that it appears that California Proposition 72 – which, if passed by referendum would have required all businesses with more than 50 employees to provide health insurance and pay for 80 percent of it – is going down to defeat.

Wal-Mart contributed $500,000 to the forces opposing the law, which also was opposed by Gov. Arnold Schwarzenegger.
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