Americans Elect admits defeat ... Novel alternative presidential ticket falls short

An ambitious effort to launch a third-party presidential ticket this fall has foundered, done in by its inability to attract a top-tier candidate and the grass-roots support necessary to power its novel online nominating process.

Despite the backing of heavyweight political and business leaders and a $15-million effort to get on the ballot across the country, Americans Elect announced Tuesday that none of its potential candidates mustered the minimum support needed to qualify for the group's primary.