CHICAGO, Illinois (CNN) - The nation's sagging economy is expected to be in the spotlight Friday as President-elect Barack Obama and Vice President-elect Joe Biden hold their first news conference since the election.
Obama named llinois Congressman Rahm Emanuel as his chief of staff on Thursday, but the transition office said no personnel announcements would be made at Friday's event.
Obama will take questions from reporters, however.
Before the news conference, Obama and Biden will meet with a 17-member council of economic advisers. Among the panelists are former Treasury Secretaries Lawrence Summers and Robert Rubin, former Fed Chairman Paul Volcker, billionaire businessman Warren Buffett, and leaders in business and
Interest in the makeup of Obama's economic team is high as bad news continues to emerge daily.
The Labor Department's monthly jobs report Friday morning showed that the shed 240,000 jobs in October. The unemployment rate climbed from 6.1 percent to 6.5 percent, the highest it's been since 1994.
Also Friday, Ford Motor Co. reported a $3 billion operating loss in the latest quarter, and said it would reduce staff and capital spending to preserve its dwindling cash. Ford said it would cut white-collar compensation by eliminating merit pay, bonuses and retirement-account matching contributions.
(CNN) - With record low approval ratings and intense criticism for his handling of the Iraq war, Hurricane Katrina and the economy, the word most used to label George W. Bush's presidency will be "incompetent," historians say.
"Right now there is not a lot of good will among historians. Most see him as a combination of many negative factors," said Julian Zelizer, a professor of history and public affairs at Princeton University's Woodrow Wilson School.
"He is seen as incompetent in terms of how he handled domestic and foreign policy. He is seen as pushing for an agenda to the right of the nation and doing so through executive power that ignored the popular will," he added.
But like so many presidents before him, Bush's reputation could change with time.
Harvard University political history scholar Barbara Kellerman said when President-elect Barack Obama takes over in January, people may view Bush in a new light.
"I think it's possible when people have stopped being as angry at the Bush administration as they are now ... that they will realize that some of this is just ... the luck of the draw."
WASHINGTON (CNN) - President-elect Barack Obama's daughters have been promised a puppy for the White House - President Bush's dog, Barney, demonstrated his technique for dealing with the media Thursday...sinking his teeth into Reuters TV White House correspondent Jon Decker.
Watch: First Dog attacks reporter
Call it a case of biting the hand that covers you.
First Dog Barney and his handler were out on the front lawn for a walk when Reuters' Decker and another reporter approached.
"He looked very nice and friendly," says Decker. "I bent down to pet him and he just snapped at me."
Decker holds up his right index finger, now sporting two band aids. The First Dog's teeth punctured the skin and Decker started bleeding, so he was sent to see presidential physician, Dr. Richard Tubb. Tubb gave Decker a two- to three-day supply of antibiotics, and told him to come back Friday for a tetanus booster.
"I don't know what he did, but apparently Barney didn't like it," says April Ryan, White House correspondent for American Urban Radio Network, who captured the entire incident on her Flip video camera.
Decker insists he didn't provoke Barney, and that in fact he's good with Scottish terriers. Decker's mother's dog, Fergus, came from the same New Jersey breeder.
"I don't know what set him off," says Decker. "Maybe it was the Republican debacle Tuesday night, the fact that soon he'll be replaced as America's first dog or that I happened to have bacon for breakfast."
CNN: Official: Obama could name more administration picks Friday
President-elect Barack Obama could name other members of his administration on Friday, a day after he named Rep. Rahm Emanuel as White House chief of staff, an Obama transition official said.
CNN: Emanuel pick gets mixed reaction
President-elect Barack Obama's first major appointment received mixed reaction from Democrats and Republicans. Rep. Rahm Emanuel on Thursday accepted Obama's offer to be White House chief of staff.
CNN: Emanuel expected to bring 'tough-minded' approach to White House
U.S. Rep. Rahm Emanuel will bring a "tough-minded" and "pragmatic" approach to the White House when he becomes President-elect Barack Obama's chief of staff, according to people who know the Chicago, Illinois, native.
CNN: Lieberman may have day of reckoning with Democrats
Sen. Joe Lieberman met Thursday with Senate Majority Leader Harry Reid to discuss Lieberman's future with the Democratic caucus.
CNN: Obama, McCain campaigns' computers hacked for policy data
Computers at the headquarters of the Barack Obama and John McCain campaigns were hacked during the campaign by a foreign entity looking for future policy information, a source with knowledge of the incidents confirms to CNN.
CNN: McCain sources gripe about Palin
Republican VP nominee Sarah Palin had prepared to deliver a concession speech before John McCain’s Tuesday night — and brought her remarks with her to his Phoenix concession — but senior McCain campaign adviser Steve Schmidt told her she could not.
CNN Radio: That last election sure was fun, now it’s on to the 2012 campaign
A senator for Oregon, a new head of staff for the White House, options for Joe Lieberman and, we hate to tell you, but someone is already starting the race for 2012. Lisa Desjardins has today's CNN Political Ticker.