  A tight binding parametrization of local spin density functional band theory
is combined with a dynamical mean field treatment of correlations to obtain a
theory of the magnetic transition temperature, optical conductivity and T=0
spinwave stiffness of a minimal model for the pseudocubic metallic $CMR$
manganites such a $La_{1-X}Sr_{x}MnO_{3}$. The results indicate that previous
estimates of $T_{c}$ obtained by one of us (Phys. Rev. \textbf{B61} 10738-49
(2000)) are in error, that in fact the materials are characterized by Hunds
coupling $J\approx 1.5eV$, and that magnetic-order driven changes in the
kinetic energy may not be the cause of the observed 'colossal' magnetoresistive
and multiphase behavior in the manganites, raising questions about our present
understanding of these materials.
