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STEVENS GUILTY….Ted Stevens, whose defense against corruption charges was that he was just “borrowing” stuff from campaign donors, lost his case today:

Alaska Sen. Ted Stevens was convicted today of lying on financial disclosure forms to hide tens of thousands of dollars in gifts and renovations to his Alaska home that were financed mostly by a powerful business executive and his oil services company.

….Despite the guilty verdict, Stevens remains on the ballot in Alaska, where he is locked in a tight race with Anchorage Mayor Mark Begich.

If he can pull off an upset victory, Stevens could remain in the Senate for months, if not longer, if he chose to appeal the verdict. Tradition allows him to exhaust his appeals before the ethics committee begins expulsion hearings, according to the Historical Office of the Senate.

A reader asks, “If Stevens is re-elected and the US Senate then kicks him out, can Palin then name herself to replace him?” I assume the answer is no, and I further assume that even if the answer is yes Palin wouldn’t have the chutzpah to do it. But of course, those are my big city values talking, so I might be off base here.

In any case, I assume that Stevens is now considerably more likely to lose his seat next week, thus making this point moot. Any Alaskans care to weigh in on how this is going to play up in the Great White North Last Frontier?

UPDATE: False alarm. Sorry. After Frank Murkowski appointed his daughter Lisa to an open Senate seat in 2002, Alaskans approved a ballot initiative to change the law. An open Senate seat in Alaska is now filled via a special election.

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WE'LL BE BLUNT.

We have a considerable $390,000 gap in our online fundraising budget that we have to close by June 30. There is no wiggle room, we've already cut everything we can, and we urgently need more readers to pitch in—especially from this specific blurb you're reading right now.

We'll also be quite transparent and level-headed with you about this.

In "News Never Pays," our fearless CEO, Monika Bauerlein, connects the dots on several concerning media trends that, taken together, expose the fallacy behind the tragic state of journalism right now: That the marketplace will take care of providing the free and independent press citizens in a democracy need, and the Next New Thing to invest millions in will fix the problem. Bottom line: Journalism that serves the people needs the support of the people. That's the Next New Thing.

And it's what MoJo and our community of readers have been doing for 47 years now.

But staying afloat is harder than ever.

In "This Is Not a Crisis. It's The New Normal," we explain, as matter-of-factly as we can, what exactly our finances look like, why this moment is particularly urgent, and how we can best communicate that without screaming OMG PLEASE HELP over and over. We also touch on our history and how our nonprofit model makes Mother Jones different than most of the news out there: Letting us go deep, focus on underreported beats, and bring unique perspectives to the day's news.

You're here for reporting like that, not fundraising, but one cannot exist without the other, and it's vitally important that we hit our intimidating $390,000 number in online donations by June 30.

And we hope you might consider pitching in before moving on to whatever it is you're about to do next. It's going to be a nail-biter, and we really need to see donations from this specific ask coming in strong if we're going to get there.

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