Sorry the story is so short. This just happened though.

Palin to step down, not seeking re-election

(CNN) — Gov. Sarah Palin announced Friday that she will step down as Alaska's chief executive by the end of the month. She will not seek election to a second gubernatorial term in 2010.

Palin, a Republican, was elected governor in 2006. She was tapped as Arizona Sen. John McCain's vice presidential running mate last year.

http://politicalticker.blogs.cnn.com/2009/07/03/palin-to-step-down-not-s... [1]

The report just aired on CNN said she will be stepping down at the end of July. I will keep my eyes open for more information.

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Palin Quits, Transfers Power to Lt. Governor

Alaska Gov. Sarah Palin shocked the political word Friday by announcing that she will step down at the end of the month and transfer power to Lt. Gov. Sean Parnell.

Palin made the announcement from her home in Wasilla, flanked by her husband, Todd, and family and state commissioners.

Palin's decision now allows her to avoid the difficult task of running for president while serving as governor.

Palin gained national prominence when GOP presidential candidate John McCain picked her as his running mate last year. But her approval ratings in the state have skidded in recent months.

Palin has been dogged in recent months by ethics inquiries. Her office last month announced the 15th dismissal of an ethics complaint against her or one of her staff.

Palin defeated incumbent Gov. Murkowski in a primary in 2006.

http://www.foxnews.com/politics/2009/07/03/palin-opts-run-second-term-al... [2]