Governor Palin to Resign!

According to KTUU TV in Anchorage, Governor Sarah Palin will be resigning at the end of the month, handing over power to Lt. Gov. Sean Parnell.

From KTUU:

ANCHORAGE, Alaska -- Gov. Sarah Palin will resign her office in a few weeks, she said during a news conference at her Wasilla home Friday morning.

Lt. Gov. Sean Parnell will be inaugurated at the Governor's Picnic at Pionner Park in Fairbanks on Saturday, July 25, Palin said.

There was no immediate word as to why she will resign, though speculation has been rampant that the former vice presidential candidate is gearing up for a run at the 2012 Republican presidential nomination.

Palin made the announcement flanked by Parnell and most, if not all, of her cabinet.

Parnell ran unsuccessfully against Rep. Don Young in the Republican primary last year.

The stunning announcement by Palin opens the floodgates for the 2010 gubernatorial race. Speculation that Palin might not seek re-election had fueled further conjecture of who might run.

This will surely be making the blog and the Internet active throughout the day. We'll be breaking the news as it comes.