Angus King, former Maine governor, readily admits that Unity08, a new political party he helped found that aims to nominate and support a bipartisan presidential ticket, is a long shot.

For one thing, third-party movements in the US have typically centered on either a charismatic leader or a hot-button issue - Theodore Roosevelt and the Bull Moose Party in 1912, say, or the Republican Party and its opposition to slavery before the Civil War in the 1850s.

At present, Unity08 has ...