California Dem will run for Gov in 2006 - against Arnold??

Today's (Weds) LA Times, B-3 (sorry if it was posted way earlier, do not know about that)
This is my summary of the article:

Dem State Treasurers Phil Angelides will announce his candidacy for California governor sometime next week says his campaign staff. He has a $12 million campaign war chest.
Arnold has not announced whether he will run in 2006 for a full term but the repubs are already raising money for him.
Andgelides is the first Dem to indicate he will run, if his campaign staff is correct. The Times calls him a "traditional' democrat
Democrat Attorney General Lockyer also has millions of $$ at his disposal should he choose to run for governor.
Polls show Arnold with just a 15% lead over any possible opponent and there will be a big showdown this fall over Arnold's various ballot initiatives.
-end summary-

The state infrastructure is falling apart and arnold does not want to pay to upgrade things. eventually the condition of the state will be so sorry that people will have to decide what kind of place they wanna live in, the shining city on the hill or Arnold's republican wasteland.

Msongs
www.msongs.com/vvpb our paper ballot proposal for CA

I also heard he would wait until after Arnold's gone...